BIDVESTCO LIMITED - BIBIDV - Availability of the Guarantors Interim Results for the six month period ended 31 December 2020

BIBIDV - Availability of the Guarantor’s Interim Results for the six month period ended 31 December 2020

Bidvestco Limited
(Incorporated in the Republic of South Africa)
(Registration No. 1966/011512/06)
Company code: BIBIDV
(“Bidvestco” or the “Issuer”)

AVAILABILITY OF THE GUARANTOR’S INTERIM RESULTS FOR THE SIX MONTH PERIOD ENDED 31 DECEMBER
2020

Pursuant to paragraph 6.17 of the JSE Limited Debt Listings Requirements, noteholders are advised that the
interim results of The Bidvest Group Limited (the “Guarantor”) for the six month period ended 31 December
2020 (the “interim results”), are available for inspection at the Issuer’s registered office.

The interim results are also available on the Guarantor’s website at https://www.bidvest.co.za/financial-
results-archive.php.

Noteholders are further advised that the following restatements of comparatives were included in the interim
results:
    1.   The 30 June 2020 comparative condensed consolidated statement of financial position has been
         restated as a result of the finalisation of the Purchase Price Allocation of the PHS Group acquisition;
    2.   Net impairment losses on financial assets, in accordance with IAS 1, were disclosed as a separate line
         item in the consolidated income statement for the first time for the year ending 30 June 2020,
         consequently the comparative period to 31 December 2019 has been restated accordingly;
    3.   Geographic segmentation was included for the first time for the year ending 30 June 2020,
         consequently the comparative period to 31 December 2019 has been restated accordingly; and
    4.   As a result of the Guarantor’s decision to exit the Bidvest Car Rental (BCR) business, BCR was classified
         as a disposal group held for sale and as a discontinued operation as at 30 June 2020, which resulted in
         the restatement of the condensed consolidated income statement, headline earnings, condensed
         consolidated cash flow statement, condensed disaggregated revenue, condensed segmental revenue
         and condensed segmental trading profit for the comparative period to 31 December 2019.

For further information on the restatements, please refer to the interim results.



1 March 2021

Debt Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)

Date: 01-03-2021 07:20:00
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