MUSTEK LIMITED - Trading statement for the year ended 30 June 2024

Trading statement for the year ended 30 June 2024

MUSTEK LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1987/070161/06)
Share code: MST
ISIN: ZAE000012373
("Mustek" or "the company" or "the Group")

TRADING STATEMENT FOR THE YEAR ENDED 30 JUNE 2024

This trading statement is published in compliance with paragraph 3.4(b) of the JSE Listings
Requirements.

Mustek's shareholders are informed that, for the year ended 30 June 2024, Mustek's headline
earnings per share is expected to be between 70% and 80% lower than reported in the comparative
period at between 75,00 cents and 112,50 cents (30 June 2023: 374,99 cents).

Basic earnings per share is expected to be between 85% and 95% lower than reported in the
comparative period at between 18,63 cents and 55,89 cents (30 June 2023: 372,61 cents).

The difference between headline earnings and basic earnings is due to an impairment of the
investment in Zaloserve (Sizwe IT Africa), which has been classified as an asset held for sale as at 
30 June 2024.

The operating environment for the year ended 30 June 2024 was marked by tough economic
conditions and cautious market sentiment leading up to the general elections in South Africa.
Prevailing uncertainty froze corporate and government spending and the unexpected abatement of
loadshedding abruptly ended the renewable energy boom, which fuelled our growth last year.
Reduced demand for green energy products put us in a challenging situation with surplus stock in a
tough macro-economic environment with high interest rates. Accordingly, the Group's performance
declined.

Net asset value per share is expected to be between 2 770,00 cents and 2 820,00 cents, compared to
2 724,36 cents as at 30 June 2023.

The company expects to release its financial results for the year ended 30 June 2024 on SENS on
19 September 2024. A virtual results presentation will be hosted on Thursday, 19 September 2024 at
10:00am. The presentation can be joined using the following link https://bit.ly/3TmaJpY.

The above information has not been reviewed or reported on by the company's external auditors.

Midrand

11 September 2024

Sponsor: Deloitte & Touche Sponsor Services Proprietary Limited

Date: 11-09-2024 08:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.