VUNANI LIMITED - Reviewed Provisional Condensed Consolidated Results for the year ended 28 February 2023

Reviewed Provisional Condensed Consolidated Results for the year ended 28 February 2023

VUNANI LIMITED
Incorporated in the Republic of South Africa
Registration number: 1997/020641/06
JSE code: VUN ISIN: ZAE000163382
Vunani” or “the company” or “the group”

REVIEWED PROVISIONAL CONDENSED CONSOLIDATED RESULTS FOR THE YEAR ENDED 28 FEBRUARY
2023

    - Revenue and premiums up 10% to R752.4 million

    - Operating profit up 33% to R150.1 million

    - Earnings per share decreased to 32.6 cents (2022: 37.9 cents)

    - Headline earnings per share decreased to 29.7 cents (2022: 34.7 cents)

    - A final dividend declared for the year ended 28 February 2023 of 11.0 cents (2022: 14.0 cents)


Vunani’s profit for the year ended 28 February 2023, has decreased by 14% compared to the prior
period ended 28 February 2022. This was due the impact of negative fair value adjustments related
to the insurance business which was negatively impacted by the volatility in the markets as well as
death claims. On an operating profit line, the group showed a 33% improvement compared to the
prior year.

The group's reporting segments include fund management, asset administration, insurance,
investment banking (advisory services and institutional securities broking).

DIVIDEND DECLARED

Notice is hereby given that a gross ordinary dividend of 11.0 cents per share has been declared out
of income reserves on 24 May 2023 and are payable to ordinary shareholders in accordance with the
following timetable.

In terms of dividend tax effective since 1 April 2012, the following additional information is
disclosed:

•     The local Dividends Withholding Tax rate is 20%
•     161 155 915 shares are in issue
•     The gross ordinary dividend is 11.00000 cents per share for shareholders exempt from paying
      Dividends Withholding Tax
•     The net ordinary dividend is 8.80000 cents per share for ordinary shareholders who are not
      exempt from Dividends Withholding Tax
•     Vunani Limited’s tax reference number is 9841003032
Timetable                                                                             2023

Declaration and finalisation date announcement                           Wednesday, 24 May

Last day to trade cum dividend                                            Tuesday, 20 June

Shares commence trading ex-dividend                                     Wednesday, 21 June

Record date                                                                Friday, 23 June

Dividend payment date                                                      Monday, 26 June



No dematerialisation or rematerialisation of shares will be allowed for the period from Wednesday,
21 June 2023 to Friday, 23 June 2023, both dates inclusive.

Dividends are declared in the currency of the Republic of South Africa. The directors have confirmed
that the company will satisfy the liquidity and solvency requirements immediately after the payment
of the dividend.

REVIEW CONCLUSION

The condensed consolidated financial statements for the year ended 28 February 2023 have been
reviewed by BDO Inc., who expressed an unmodified review opinion. The auditor’s report does not
necessarily report on all of the information contained in this announcement/financial results.
Shareholders are therefore advised that in order to obtain a full understanding of the nature of the
auditors engagement they should obtain a copy of the auditor’s review report together with the
accompanying financial information which is available for inspection on the Company’s website at
the following web link https://www.vunanilimited.co.za/investor-relations/compliance/ or from the
issuers registered office.

This short-form announcement is the responsibility of the directors and is only a summary of the
information in the full announcement and does not contain full or complete details. The full
announcement was released on SENS on 24 May 2023 and can be found on the company's website
at https://www.vunanilimited.co.za/investor-relations/financial-results/ and at
https://senspdf.jse.co.za/documents/2023/jse/isse/VUN/ye2023.pdf

Copies of the full announcement may also be requested at the company's registered office, or the
office of the sponsor at no charge, during office hours.

Any investment decision should be based on the full announcement published on the company's
website.



By order of the board

Ethan Dube and Tafadzwa Mika

CEO and CFO

24 May 2023
CORPORATE INFORMATION

Executive directors

E Dube (Chief Executive Officer)

T Mika (Chief Financial Officer)

BM Khoza

NM Anderson



Non-executive directors

LI Jacobs – independent chairman

NS Mazwi – independent

G Nzalo – independent

JR Macey – independent

S Mthethwa

M Golding



Company secretary

CIS Company Secretaries Proprietary Limited



Sponsor

Grindrod Bank Limited



Financial communications adviser

Singular Systems Proprietary Limited



Transfer secretaries

Singular Systems Proprietary Limited

Date: 24-05-2023 10:57:00
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