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Unaudited Condensed Interim Financial Results for the six months ended 30 September 2024
Cilo Cybin Holdings Limited
Incorporated in the Republic of South Africa
(Registration number 2022/320351/06)
Share code: CCC ISIN: ZAE000310397
("Cilo Cybin" or "the Company")
Unaudited Condensed Interim Financial Results for the six months ended 30 September 2024
Introduction
Cilo Cybin is pleased to announce its interim results for the six-month period ended 30 September 2024, which reflect the
Company's continued commitment to executing its strategic objectives and delivering value to its shareholders.
Key features of the six-month period:
- Investment income increased by 141% to R2,561 million (Mar 2024: R1,064 million, Sep 23*: R0)
- Gross profit of R936,1 thousand achieved (Mar 2024: R455,4 thousand, Sep 23*: (R47,0 thousand))
- Cash outflows from operations amounted to R1,92 million (2024: R632,3 thousand inflow, Sep 23*: R27,9 thousand outflow)
- Headline earnings per share improved to 0.87 cents per share (Mar 2024: 0.51 cent per share, Sep 23*: (0.05) cents per share)
- Earnings per share improved to 0.87 cents per share (Mar 2024: 0.51 cent per share, Sep 23*: (0.05) cents per share)
- 7 101 791 ordinary shares were issued following completion of the subscription process associated with an Initial Public Offer
(IPO).
- The Company listed on the AltX on 25 June 2024
*Unpublished
Operational Update
During the interim period, the Company continued its evaluation and due diligence of potential acquisition targets aligned with
its investment strategy. Key milestones achieved include the following:
- The Company entered into a share purchase agreement ("Agreement") with the shareholders of Cilo Cybin Pharmaceutical
Proprietary Limited ("CC Pharmaceutical" or "CCP") ("Sellers").
- In terms of the Agreement, and subject to the fulfilment of the conditions precedent, the Company will acquire all the issued
shares in CC Pharmaceutical ("Sale Shares") from the Sellers for an aggregate purchase consideration of R845 million
("Purchase Consideration"), to be settled through the issue of Cilo Cybin shares.
Revenue for the period increased by 141% to R2,561 million (Mar 2023: R1,064 million, Sep 23: R 0), and is as a result of the money
raised in the IPO that is currently held in an Escrow account until the Company completes the acquisition of Viable Assets.
The business had a cash outflow from operating activities of R1,92 million, ending the period with cash and cash equivalents of
R60,2 million. The increase in expenditure was in line with a deliberate focus to appoint service providers to commence with the
process of acquiring a Viable Asset. Trade and other payables decreased by R2,393 million as suppliers were paid for services
provided for the initial IPO as well as for the acquisition of a Viable Asset.
Basis of preparation
The unaudited interim financial statements for the six month period ended 30 September 2024 ("Results") have been prepared in
accordance with the framework concepts and the measurement and recognition requirements of the IFRS Accounting Standards
(IFRS), contain the minimum information required by IAS 34 Interim Financial Reporting, the SAICA Financial Reporting Guides
as issued by the Accounting Practices Committee, the Financial Reporting Pronouncements as issued by the Financial Reporting
Standards Council, the requirements of the Companies Act, 71 of 2008, as amended, and the JSE Listings Requirements.
Accounting Policies
The accounting policies applied in the preparation of the Results are in terms of the IFRS and are consistent with those applied in
the annual financial statements for the year ended 31 March 2024, including the new and amended IFRS that became effective
during the 30 September 2024 reporting period, none of which had a material impact on the Company's financial results.
The Results have been prepared under the historical cost convention.
The Results were prepared under the supervision of Ms R.M Ledwaba (CA) SA in her capacity as Chief Financial Officer.
Results announcement
This results announcement is the responsibility of the board of directors of the Company ("Board"). This results announcement
does not contain full or complete details of the Results released on SENS on 14 January 2025. The Results, as published on SENS,
can be found on the Company's website at www.cilocybin.com and on the JSE's cloudlink at:
https://senspdf.jse.co.za/documents/2025/jse/isse/ccce/interims24.pdf
Any investment decision should be based on the Results as a whole. None of the information in this announcement has been
reviewed or reported on by the Company's auditors.
By order of the Board
GC Theron
Chief Executive Officer
RM Ledwaba
Financial director
Corporate information
Executive directors
Gabriel Christiaan Theron
Reshoketswe Maggy Ledwaba
Non-executive directors
Sakekile Baduza (Independent)
Dr Tham Seng Kong (Chairman)
Daktuk Mohd Razef Adbullah (Independent)
Cindee Chew Yoke Ling Independent)
Wei Sim (Amanda) Low (Independent)
Lisa Teoh (Independent)
Jessica Moodley-Theron
Designated Adviser
Merchantec Capital
Company Secretary
Acorim
Commercial bankers
FNB
Registered office
The registered office, which is also the principal place of business, is:
23 Sterling Road, Unit E4 The Point Office Park, Samrand, 0157
Transfer secretaries
JSE Investor Services Proprietary Limited
13th Floor
19 Ameshoff Street
Braamfontein
2000
www.cilocybin.co.za
Centurion
14 January 2025
Date: 14-01-2025 03:35:00
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