ASTORIA INVESTMENTS LIMITED - Summarised unaudited consolidated results for quarter and nine months ended 30 September 2019, interests in shares

Summarised unaudited consolidated results for quarter and nine months ended 30 September 2019, interests in shares

ASTORIA INVESTMENTS LTD
(Incorporated in the Republic of Mauritius)
(Registration number 1297585 C1/GBL)
SEM share code: ATIL.N0000
JSE share code: ARA NSX share code: ARO
ISIN: MU0499N00007
(“Astoria” or “the Company”)


SUMMARISED UNAUDITED CONSOLIDATED RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 30 SEPTEMBER 2019 AND NOTIFICATION OF 
AN ACQUISITION OF BENEFICIAL INTERESTS IN SHARES



                                           Quarter              Quarter            Nine months         Nine months
                                          ended 30             ended 30               ended 30            ended 30
                                         September            September              September           September
                                              2019                 2018                   2019                2018
 Net asset value      USD                     0.17                 1.20                   0.17                1.20
 per share
 Revenue              USD’000              (1,530)                7,336                  3,350                 496
 Earnings per         USD cents             (1.31)                 5.71                 (1.69)              (1.65)
 share
 Headline             USD cents             (1.31)                 5.71                 (1.69)              (1.65)
 earnings per
 share


No dividends were declared in the current or prior interim period.

Astoria is an investment company which has primary listings on the Stock Exchange of Mauritius (“SEM”) and
the Alternative Exchange of the Johannesburg Stock Exchange (“JSE”) and a secondary listing on the main
board of the Namibian Stock Exchange (“NSX”). Since the general meeting of shareholders held on 20 March
2019, Astoria’s principal objective is to return substantially all of its capital to shareholders through the realisation
of substantially all of its assets.

NOTIFICATION OF AN ACQUISITION OF BENEFICIAL INTERESTS IN SHARES
In accordance with Rule 13(4) of the Mauritian Securities (Disclosure Obligations of Reporting Issuers) Rules
2007, and as announced on SENS on Friday, 1 November 2019 by RECM and Calibre Limited (“RAC”)
shareholders are advised that Astoria has received notification from Livingstone Investments (Pty) Ltd
(“Livingstone”), a wholly-owned subsidiary of RAC that Livingstone has acquired a further 60 300 000 shares
in Astoria, at R2.40 per share, from Hampden Capital (Pty) Ltd, Legae Peresec (Pty) Ltd and various portfolios
managed by 36ONE Asset Management (Pty) Ltd, on 30 October 2019, for an aggregate cash consideration
of R144,720,000 (“the Transaction”).

This Transaction increases Livingstone’s ownership of Astoria shares from 29.4% to 78.45% and imposes an
obligation on Livingstone, to make a mandatory offer to acquire all the remaining voting shares of Astoria,
not already owned by Livingstone, under Rule 33(1)(c) of the Mauritian Securities (Takeover) Rules 2010
(“Rules”).

Rule 33(1)(c) states that where a person, either individually or together with a person acting in concert
acquires the right to exercise, or control the exercise of, more than 50 per cent of the rights attached to the
voting shares of the company that person shall make an offer under Rule 33 (1) of the Rules.

Further announcements will be made in due course in accordance with the Rules.

SHORT-FORM ANNOUNCEMENT
This short-form announcement is the responsibility of the Board and is only a summary of the information in the
full announcement and accordingly does not contain full or complete details. The full announcement was
published on SENS on 5 November 2019, and can be found on the Company’s website www.astoria.mu and
can be accessed using the following JSE link:
https://senspdf.jse.co.za/documents/2019/jse/isse/ARAE/Q3Results.pdf.

Any investment decisions by shareholders and/or investors should be based on the full announcement released
on SENS and published on the Company’s website.

Copies of the summarised unaudited consolidated results for the quarter and nine months ended 30 September
2019 are available to the public, free of charge, at the registered office of the Company, B45 Twenty Foot Road,
5th Floor, La Croisette, Grand Baie, Republic of Mauritius.

Copies of the statement of direct or indirect interest of the Senior Officers of the Company pursuant to rule
8(2)(m) of the Securities (Disclosure of Obligations of Reporting Issuers) Rules 2007 are available to the public
upon request to the Company Secretary at the Registered Office of the Company at B45 Twenty Foot Road,
5th Floor, La Croisette, Grand Baie, Republic of Mauritius. The Board of Astoria accepts full responsibility for the
accuracy of the information in this communique.


By order of the Board
Mauritius – 4 November 2019

Company secretary
Osiris Corporate Solutions (Mauritius) Limited

For further information, please contact:

JSE designated advisor
Java Capital

SEM authorised representative and sponsor
GB Capital

NSX sponsor
Namibia Equity Brokers

Mauritian company administrator
Osiris

5 November 2019
Date: 05/11/2019 01:30:00
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