Wrap Text
Short Form Announcement - Reviewed condensed consolidated annual financial statements for year ended 31 August 2023
African Equity Empowerment Investments Limited
(Incorporated in the Republic of South Africa)
Registration number 1996/006093/06
Share code: AEE and ISIN: ZAE000195731
("AEEI" or "the Group" or "the Company")
Short Form Announcement - Reviewed condensed consolidated annual financial statements for the
year ended 31 August 2023.
FINANCIAL INDICATORS
Reviewed Restated % Change
Group to Group to
31 August 31 August
2023 2022
R'000 R'000
Revenue from continuing operations 734 250 578 556 27
Revenue from discontinued operations 2 103 909 1 754 914 20
Net cash generated/(utilised) in operating activities 73 610 (31 318) 335
Loss before tax from continuing operations (1 241 419) (9 125) (13 505)
Loss before tax from discontinued operations (534 352) (321 704) (66)
Basic (loss)/earnings per share (cents) from continuing (2,54) 2,93 (187)
operations
Basic loss per share (cents) from discontinued operations (36,85) (48,71) 24
Headline earnings from continuing operations 103 510 14 404 619
Headline loss from discontinued operations (166 964) (196 856) 15
Headline earnings per share (cents) from continuing 0,21 2,93 (93)
operations
Headline loss per share (cents) from discontinued operations (34,00) (40,09) 15
Normalised headline earnings from continuing operations 109 433 22 309 391
Normalised headline loss from discontinued operations (174 658) (63 520) (175)
Normalised headline earnings per share (cents) from 22,29 4,54 391
continuing operations
Normalised headline loss per share (cents) from discontinued (35,57) (12,94) (175)
operations
Net asset value per share (cents) 246,07 993,32 (75)
Total assets 1 711 962 6 029 757 (72)
*Normalised earnings were calculated as follows:
Reviewed Audited
Group to Group to
31 August 31 August
2023 2022
Headline earnings 103 510 14 404
Fair value adjustments (6 042) (434)
Net impairments, impairment reversals and write-offs 10 660 8 339
Tax effects on adjustments 1 305 94
Normalised headline earnings from continuing operations 109 433 22 309
Headline loss (166 964) (196 856)
Fair value adjustments (48 755) 37 860
Net impairments, impairment reversals and write-offs 30 530 132 211
Tax effects of adjustments 10 531 (36 735)
Normalised headline loss from discontinued operations (174 658) (63 520)
Shareholders are hereby advised that AEEI's reviewed provisional condensed consolidated results for the
year ended 31 August 2023 are available on AEEI's website at https://aeei.co.za/sens-announcement/ and
can be viewed at https://senspdf.jse.co.za/documents/2023/jse/isse/aee/senslf.pdf .
The Board has not declared a final dividend for the year ended 31 August 2023.
STATEMENT OF COMPLIANCE AND BASIS OF PREPARATION
This short-form announcement contains only a summary of the information contained in the full
announcement and does not contain the full and complete details and is the responsibility of the Board of
directors. The condensed consolidated financial statements were reviewed by Thawt Inc. and Crowe Jhb Inc.
whose unmodified review opinion has been issued on the reviewed provisional condensed consolidated
financial statements for the year ended 31 August 2023.
Please refer to the full announcement for additional information. The full announcement has been released
on SENS and is also available for viewing on AEEI's website at https://aeei.co.za/sens-announcement/ or
may be requested from the company via cornell@aeei.co.za or obtained in person, at no charge during
office hours, at the registered office of the company or can be obtained electronically from either of the joint
sponsors by sending an email to sponsorteam@merchantec.com or sponsor@vunanicapital.co.za during
business hours. Any investment decisions by investors and/or shareholders should be based on
consideration of the full announcement.
APPRECIATION
We wish to thank our employees, Group executives, management, our Board of directors, as well as our
strategic partners, stakeholders and business partners for their loyalty and dedication.
Mrs Aziza Amod Mrs Valentine Dzvova
Non-Executive Chairperson Chief Executive Officer
Cape Town
13 December 2023
DIRECTORATE AND STATUTORY INFORMATION
Directors
* Valentine Dzvova (Chief Executive Officer); Aziza Amod (Non -Executive Chairperson); *Jowayne Van
Wyk (Chief Financial Officer); Gaamiem Colbie; Willem Raubenheimer; Bongikhaya Qama: Stephen Nthite,
; Membathisi Mdladlana and Carin-Lee Geuking-Cohausz
*Executive directors.
Company Secretary: Cornell Kannemeyer Email: cornell@aeei.co.za.
Business address: 10th Floor Convention Towers, Corner Heerengracht and Walter Sisulu Avenue,
Foreshore, Cape Town, Western Cape, 8001.
Transfer secretaries: JSE Investor Services Proprietary Limited, One Exchange Square, 2 Gwen Lane,
Sandown, Sandton, 2196.
Joint Auditors: Crowe JHB
9 Autumn Street, Rivonia, 2196.
Thawt Inc.
8 Selby Road, Parkwood, 2193.
Joint Sponsors: Vunani Capital Sponsor
Vunani House, Vunani Office Park, 151 Katherine Street, Sandown,
Johannesburg, 2196.
Merchantec Capital
13th Floor, lllovo Point, 68 Melville Road, lllovo, 2196.
Date: 13-12-2023 10:40:00
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