Wrap Text
Reviewed Provisional Condensed Consolidated Results
for the year ended 30 June 2020 and Dividend announcement
TRANSPACO LIMITED
Registration number: 1951/000799/06
ISIN: ZAE000007480
Share Code: TPC
(Transpaco or the company)
SHORT-FORM ANNOUNCEMENT: REVIEWED PROVISIONAL CONDENSED CONSOLIDATED RESULTS
FOR THE YEAR ENDED 30 JUNE 2020 AND DIVIDEND ANNOUNCEMENT
- NET ASSET VALUE PER SHARE 2 066 CENTS
- total HEPS UP 41,5% TO 243,9 CENTS
- TOTAL DIVIDEND PER SHARE 111 CENTS
FINANCIAL RESULTS
Reviewed Restated*
12 months 12 months
June 2020 % change June 2019
Total operations
Earnings per share (cents) 209,7 20,6 173,9
Diluted earnings per share (cents) 209,7 20,6 173,9
Headline earnings per share (cents) 243,9 41,5 172,3
Diluted headline earnings per share (cents) 243,9 41,5 172,3
Net asset value per share (cents) 2 066,0 6,5 1 940,0
Continuing operations
Revenue from continuing operations (R'000) 1 905,8 0,7 1 892,3
Earnings per share (cents) 278,2 46,9 189,4
Diluted earnings per share (cents) 278,2 46,9 189,4
Headline earnings per share (cents) 277,5 47,7 187,8
Diluted headline earnings per share (cents) 277,5 47,7 187,8
Discontinued operations
Loss per share (cents) (68,5) (342,7) (15,5)
Diluted loss per share (cents) (68,5) (342,7) (15,5)
Headline loss per share (cents) (33,6) (117,0) (15,5)
Diluted headline loss per share (cents) (33,6) (117,0) (15,5)
* Restated as required by IFRS 5 in relation to the treatment of Transpaco Recycling as a
discontinued operation.
DISCONTINUED OPERATIONS
On 30 September 2019 the board of directors approved a decision to discontinue all recycling manufacturing operations
carried out by Transpaco Recycling (Pty) Limited. Due to international and local market forces in the plastic recycling
industry Transpaco was no longer deriving any benefit from remaining in the post-consumer recycling market. Selling
price levels were restricted due to prevailing virgin polymer prices while energy, labour and distribution costs, amongst
others, kept rising. With no likelihood of the situation improving in the short to medium term, and in order to stem
losses, the board decided to discontinue the operation and sell the plant and equipment. The majority of the plant and
equipment was sold during the financial year with the balance shortly thereafter.
DIVIDEND
The board has declared a final gross cash dividend out of income reserves of 78 cents per share, resulting in total
dividends of 111 cents per share for the year ended 30 June 2020 (June 2019: 80 cents per share). After applying the
dividend withholding tax of 20% a net final dividend of 62,40000 cents per share will be paid to those shareholders
who are not exempt from the dividends tax. The issued shares at the date of declaration is 32 886 359 ordinary shares.
The income tax reference number is 9975/112/71/6.
The salient dates for the dividend are as follows:
Last date to trade shares cum dividend Monday, 21 September 2020
Shares trade ex dividend Tuesday, 22 September 2020
Record date Friday, 25 September 2020
Payment date Monday, 28 September 2020
Share certificates may not be dematerialised or rematerialised between Tuesday, 22 September 2020 and
Friday, 25 September 2020, both days inclusive.
REVIEW BY INDEPENDENT AUDITORS
The group's auditor, Ernst & Young Inc., has reviewed the provisional condensed consolidated financial information
for the year. The unmodified review report is available for inspection at Transpaco's registered office. The auditor's
report does not necessarily report on all of the information contained in this announcement/these financial results.
Shareholders are therefore advised that in order to obtain a full understanding of the nature of the auditor's
engagement, they should obtain a copy of the auditor's report, together with the accompanying financial information,
from the group's registered office
ADMINISTRATIVE INFORMATION
This short-form announcement is the responsibility of the directors and is only a summary of the information in the
full announcement. The full announcement was released on SENS on 2 September 2020, and can be found on the company's
website at www.transpaco.co.za and on the following JSE link:
https://senspdf.jse.co.za/documents/2020/jse/isse/TPC/FYResults.pdf
Any investment decision should be based on the full announcement published on SENS and on the company's website.
Copies of the full announcement may be requested from the Company Secretary at Hendrik@transpaco.co.za.
On behalf of the board
DJJ Thomas PN Abelheim L Weinberg
Chairman Chief Executive Chief Financial Officer
1 September 2020
DIRECTORS
DJJ Thomas (Chairman)*; PN Abelheim (Chief Executive); L Weinberg (Chief Financial Officer);
HA Botha**; SR Bouzaglou; B Mkhondo**; SP van der Linde (Lead Independent Director)**
* Non-executive ** Independent non-executive
Auditor Ernst & Young Inc.
Company Secretary HJ van Niekerk
Sponsor Investec Bank Limited
Registered Office 331 6th Street, Wynberg, Sandton
Transfer Secretary Computershare Investor Services (Pty) Limited,
Rosebank Towers, 15 Biermann Avenue, Rosebank, Johannesburg
Website www.transpaco.co.za
Date: 01-09-2020 03:38:00
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