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Net asset value of Reinet Fund S.C.A., F.I.S. as at 31 December 2024
Reinet Investments S.C.A.
(Incorporated in Luxembourg)
ISIN: LU0383812293
Code: RNI
LEI: 222100830RQTFVV22S80
COMPANY ANNOUNCEMENT FOR IMMEDIATE RELEASE
NET ASSET VALUE OF REINET FUND S.C.A., F.I.S. AS AT 31 DECEMBER 2024
Reinet Investments S.C.A.'s wholly-owned subsidiary, Reinet Fund S.C.A., F.I.S., has today announced its net asset value as at 31 December 2024 as follows:
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Reinet Fund S.C.A., F.I.S. ('Reinet Fund')
Net asset value per share as at 31 December 2024
As at 31 December 2024, the net asset value ('NAV') per share of Reinet Fund amounted to EUR 40.46 (30 September 2024: EUR 38.48) based on 171.3 million shares in issue.
The entire ordinary share capital of Reinet Fund of 171.3 million shares is owned by Reinet Investments S.C.A. In addition, 1 000 management shares in Reinet Fund are held by Reinet Fund Manager S.A.
As at 31 December 2024, the NAV amounted to EUR 6 930 million, an increase of EUR 339 million from 30 September 2024.
The NAV reflects Reinet Fund's shareholding in Pension Insurance Corporation Group Limited, British American Tobacco p.l.c. ('BAT', see additional comment below), its other investments and cash resources, together with other assets and liabilities. Assets and liabilities have been revalued to their estimated fair values as at 31 December 2024. The NAV calculation has not been audited.
As disclosed in a press release dated 14 January 2025, the remaining shareholding in BAT was sold in January 2025 for gross proceeds of EUR 1 448 million (£ 1 221 million) (31 December 2024 BAT fair value: EUR 1 507 million (£ 1 247 million)). The NAV per share and NAV at 31 December 2024 does not take into account this sale, which will be recorded along with related expenses in the quarter ended 31 March 2025.
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The NAV of Reinet Fund is a substantial element of the consolidated balance sheet of Reinet Investments S.C.A. at 31 December 2024. However, the consolidated balance sheet of Reinet Investments S.C.A. will reflect other parent company assets and liabilities, including cash and amounts payable to or receivable from Reinet Fund. As such, the NAV of Reinet Investments S.C.A. may differ from that of Reinet Fund.
The NAV of Reinet Investments S.C.A. will be published in due course and dividing that value by the total number of shares outstanding (excluding treasury shares) of 181.8 million will result in a NAV per share for Reinet Investments S.C.A. which will differ from that of Reinet Fund.
Reinet Investments Manager S.A.
for and on behalf of Reinet Investments S.C.A.
Sponsor RAND MERCHANT BANK (a division of FirstRand Bank Limited)
22 JANUARY 2025
Reinet Investments S.C.A. (the 'Company') is a partnership limited by shares incorporated in the Grand Duchy of Luxembourg and having its registered office at 35, boulevard Prince Henri, L-1724 Luxembourg. It is governed by the Luxembourg law on Securitisation and in this capacity allows its shareholders to participate indirectly in the portfolio of assets held by its wholly-owned subsidiary Reinet Fund S.C.A., F.I.S., a specialised investment fund also incorporated in Luxembourg. The Company's ordinary shares are listed on the Luxembourg Stock Exchange, Euronext Amsterdam and the Johannesburg Stock Exchange; the listing on the Johannesburg Stock Exchange is a secondary listing. The Company's ordinary shares are included in the 'LuxX' index of the principal shares traded on the Luxembourg Stock Exchange.
Reinet Investments S.C.A.
R.C.S. Luxembourg B 16 576
Legal Entity Identifier : 222100830RQTFVV22S80
Registered office: 35, boulevard Prince Henri, L-1724 Luxembourg, Tel. (+352) 22 42 10, Fax (+352) 22 72 53
Email: info@reinet.com, website: www.reinet.com
Date: 22-01-2025 08:00:00
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