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VUNANI LIMITED - Reviewed Provisional Condensed Consolidated Results for the year ended 28 February 2022

Release Date: 25/05/2022 08:00
Code(s): VUN     PDF:  
Wrap Text
Reviewed Provisional Condensed Consolidated Results for the year ended 28 February 2022

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


    - Revenue and premiums from continuing operations up 17% to R687.0 million

    - Profit from continuing operations up 257% to R71.7 million

    - Earnings per share increased to 37.9 cents (2021: 12.9 cents)

    - Headline earnings per share increased to 34.7 cents (2021: 7.2 cents)

    - A final dividend declared for the year ended 28 February 2022 of 14.0 cents (2021: 7.5 cents)

Vunani’s profit from continuing operations for the year ended 28 February 2022, has shown an
improvement of 257% compared to the prior period to 28 February 2021. This was due to improved
performance of the insurance business which was negatively impacted by Covid-19 in the prior year
and improved performance of the fund management businesses. Vunani generated total
comprehensive income for the year of R71.4 million (2021: negative R5.3 million), while total
comprehensive income attributable to equity holders of the company amounted to R60.6 million
(2021: R17.2 million).

The group's reporting segments include fund management, asset administration, insurance,
investment banking (advisory services and institutional securities broking) and private equity (other
investments and commodities trading) which have been included under discontinued operations
following the unbundling of this segment and its separate listing on Equity Express Securities


Notice is hereby given that a gross ordinary dividend of 14.0 cents per share has been declared out
of income reserves on 25 May 2022 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

•     The local Dividends Tax rate is 20%
•     161 155 915 shares are in issue
•     The gross ordinary dividend is 14.00000 cents per share for shareholders exempt from paying
      Dividends Tax
•     The net ordinary dividend is 11.20000 cents per share for ordinary shareholders who are not
      exempt from Dividends Tax
•     Vunani Limited’s tax reference number is 9841003032

Timetable                                                                               2022

Declaration and finalisation date announcement                             Wednesday, 25 May

Last day to trade cum dividend                                              Tuesday, 21 June

Shares commence trading ex-dividend                                       Wednesday, 22 June

Record date                                                                  Friday, 24 June

Dividend payment date                                                        Monday, 27 June

No dematerialisation or rematerialisation of shares will be allowed for the period from Wednesday,
22 June 2022 to Friday, 24 June 2022, 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.


The condensed consolidated financial statements for the year ended 28 February 2022 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 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 25 May 2022 and can be found on the company's website
at and at

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

By order of the board

Butana Khoza and Tafadzwa Mika


25 May 2022

Executive directors

E Dube (Deputy Executive Chairman)

T Mika (Chief Financial Officer)

BM Khoza (Chief Executive Officer)

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


Grindrod Bank Limited

Financial communications adviser

Singular Systems Proprietary Limited

Transfer secretaries

Computershare Investor Services Proprietary Limited

Date: 25-05-2022 08:00:00
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