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SF: Unaudited Condensed Consolidated Interim Financial Statements for the 6 months ended 31 Dec 2024 & Dividend Decl
TeleMasters Holdings Limited
(Incorporated in the Republic of South Africa)
Registration number: 2006/015734/06
Share code: TLM
ISIN: ZAE000093324
("TeleMasters" or "Group" or "Company")
SHORT-FORM ANNOUNCEMENT:
UNAUDITED CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED 31
DECEMBER 2024 AND DECLARATION OF DIVIDEND NUMBER 66
TeleMasters is a diversified technology investment company. Our vision is to create and accelerate
shareholder value through responsible growth, acquisitions and investments. Entities within the Group are
complementary towards each other with a key focus on enhancing digital transformation, empowering
next-generation interconnectivity and accelerating smart working environments.
The Group consists of the following divisions:
Catalytic Connections Proprietary Limited is a diversified ICT managed solutions provider to medium and
small enterprises through a comprehensive suite of products and services focused on digital connectivity,
cloud communications, cloud services and cloud security.
Contineo Virtual Communications Proprietary Limited ("Contineo") operates a Next Generation Unified
Communications ("UC") platform based on Cisco BroadSoft technology. The platform enables customers
to migrate all their voice and UC traffic into the cloud and transformed Contineo from a traditional
wholesale reseller of voice minutes into the largest independent wholesaler supplier of the Cisco BroadSoft
communications platform in South Africa.
PerfectWorx Consulting Proprietary Limited is a niche network systems integrator that builds and operates
networks for or with customers, supplies technology to build networks or provides specific solutions for
customer's network requirements. It enjoys key technology partnerships with Cisco Meraki, Fortinet, Oracle,
Exaware, Sonus and Juniper Networks, among others.
Ultra DataCentre Proprietary Limited built and operates a data centre located outside of Pretoria. This data
centre is a vendor and carrier neutral facility that features several unique data centre capabilities including
smart rack infrastructure, ultra-secure physical environment, and connectivity vendor redundancy. Due to
its location just outside the principal jurisdictions of many other data centres, it specialises in ultra-secure
disaster recovery capabilities but also functions as a primary data centre for clients. Unique among data
centres, it has massive and scalable utility power availability. The building is extremely physically secure
with national key point (bunker type) construction. It has significant white space scalable on demand.
FINANCIAL SUMMARY
The Group's financial metrics compared to the prior six months ended 31 December 2023 are set out
below:
• Revenue increased by 6.16% due to extensive efforts and the onboarding of additional clients in
our Data centre.
• The gross profit margin decreased from 56% to 54%.
• Operational expenses increased by 3.8% but should reduce in the remainder of the year.
• Earnings before interest, taxation, depreciation, and amortisation (EBITDA) of R4.02 million were
achieved compared to R3,98 million in comparative 6 month period/.
• Cash and cash equivalents decreased due to large repayments in finance agreements and
continued investment in operating equipment.
• The net asset value has increased from 65.42 cents per share to 65.55 cents per share, and the
tangible net asset value from 24.75 cents per share to 24.90 cents per share.
• Headline earnings per share decreased from 0.61 cents per share to 0.35 cents per share.
• Property, plant and equipment increased by R2.3 Million compared with R1.8 million in the prior
period. This was primarily financed through borrowings.
SALIENT FEATURES
Extracted from the interim condensed consolidated financial statements for the six months ended
31 December 2024 and dividend declaration number 66:
31 December 31 December
2024 2023 Percentage
Unaudited Unaudited change
R R %
Revenue 31 836 062 29 985 955 6.16%
Operating profit 4 021 900 3 982 011 1.00%
Earnings per share (cents) 0.35 0.55 -36.36%
Headline earnings per share (cents) 0.35 0.61 -42.62%
Dividends paid per ordinary share (cents) 0.20 0.198 1.01%
Net asset value per share (cents) 65.55 65.24 0.48
Dividend Declaration
Notice is hereby given that a gross cash dividend (Number 66) of R0.001 (0.1 cents) per share has been
declared and is payable to all shareholders recorded in the Company's share register at the close of
business on Thursday, 17 April 2025.
The dividend will be subject to the Dividends Withholding Tax introduced with effect from 1 April 2012. In
accordance with the provisions of the Listings Requirements of the JSE Limited, the following additional
information is disclosed:
• The dividend has been declared out of retained earnings;
• The local Dividends Withholding Tax rate is 20%;
• The gross local dividend is R0.001 or 0.1 cent (one tenth of 1 cent) per share for shareholders exempt
from Dividends Tax;
• The net local dividend is R0.0008 or 0.08 cents per share for shareholders liable for Dividends Tax;
• The Company has 57,482,830 ordinary shares in issue; and
• The Company's income tax reference number is 9683/978/14/3.
The following dates apply to the dividend: the last day to trade to be eligible for the dividend will be
Monday, 14 April 2025. Shares will trade ex-dividend from Tuesday, 15 April 2025. The record date will be
Thursday, 17 April 2025 and the dividend payment will be made on Tuesday, 22 April 2025.
Share certificates may not be dematerialised / re-materialised between Tuesday, 15 April 2025 and
Thursday, 17 April 2025, both days inclusive. The certificated register will be closed during these dates.
Dividends in respect of certificated shareholders will be transferred electronically to shareholders' bank
accounts on the payment date. Following the discontinuation of cheque payments in South Africa from
January 2022, all payments will only be made into a nominated bank account by electronic funds transfer.
Shareholders who have not yet provided their bank account details to JSE Investor Services Proprietary
Limited ("JIS") are reminded to contact JIS at 086 154 6572 with their bank account details, into which the
dividends can be paid electronically.
Short-Form Announcement
The short-form announcement is the responsibility of the Board of Directors of TeleMasters and is only an
extract of the information contained in the unaudited condensed consolidated interim financial
statements for the six months ended 31 December 2024.
This announcement does not contain full or complete details of the financial results. Any investment
decisions by investors and/or shareholders should be based on consideration of the full announcement
which stakeholders are encouraged to review. The full announcement is available on the Company's
website (www.telemasters.co.za) and on the JSE Website:
https://senspdf.jse.co.za/documents/2025/jse/isse/TLM/TLMIR24.pdf
Copies of the full announcement may be requested from the Company (cfo@masters.co.za) or inspected
at the registered office and/or the Designated Advisors' office, at no charge, during office hours.
Directors: M Moela*#, MB Pretorius*, MJ Krastanov*#, J Voigt, BR Topham
(* non-executive director # independent non-executive director)
Registered address: Ground Floor, Building 2, ATT House, Maxwell Office Park
Magwa Crescent West, Waterfall City 2090
P.O. Box 68255 Highveld Park 0169
Company secretary: S Ramirez-Victor
Auditors: Nexia SAB&T
119 Witch-Hazel Avenue, Highveld Techno Park, Centurion
Transfer secretaries: JSE Investor Services Proprietary Limited
Designated Advisor: AcaciaCap Advisors Proprietary Limited
Website: www.telemasters.co.za
By order of the Board
Waterfall City
27 March 2025
Designated Advisor
AcaciaCap Advisors Proprietary Limited
Date: 27-03-2025 05:30:00
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