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Unaudited Condensed Consolidated Financial Statements - Six Months Ended 31 December 2020 and Dividend Declaration
TELEMASTERS HOLDINGS LIMITED
(Registration Number: 2006/015734/06)
JSE Code: TLM ISIN: ZAE 000093324
(“TeleMasters” or “the Company”)
SHORT-FORM ANNOUNCEMENT:
UN-AUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED
31 DECEMBER 2020 AND DIVIDEND DECLARATION
TeleMasters Holdings is a diversified technology investment company. Entities within the Group are
complementary towards each other with a key focus on enhancing digital transformation,
accelerating smart working environments and empowering the new Gig economy. Our vision is to
create and accelerate shareholders value through responsible growth, acquisitions and
investments.
The Group consists of the following portfolio of companies:
Catalytic Connections (Pty) Limited is a diversified ICT managed solutions provider to medium and
small businesses in South Africa focused on connectivity, communications, cloud and security
solutions.
Contineo Virtual Communications (Pty) Limited provides unified communications solutions to a wide
range of clients.
PerfectWorx Consulting (Pty) Limited provides professional services to a wide range of operators
entering or active in the next generation network environment.
ConexLink (Pty) Limited owns and operates a secure disaster recovery data centre and provides
related services to clients thereof.
RESULTS SUMMARY
• Decrease in earnings per share from 3.90 cents in previous period to a loss of 0.11 cents, largely
attributable to an increased loss allowance on trade receivables of R2.9 million
• Gross profit margin improved to 49.5% from 38.5% in prior period
• Cash and cash equivalents reduced due to further investment in equipment
• 3.20 cents per share dividend declared and paid during the period
• Acquisition of 100% of Contineo and PerfectWorx successfully integrated
Salient Features
Extracted from the un-audited condensed consolidated financial statements for the six months
ended 31 December 2020 and dividend declaration
31 December 2020 31 December 2019
R R
Revenue 41,654,190 42,297,937
Operating Profit 107,745 1,416,570
(Loss)/earnings per share (0.11) 3.90
Headline (loss)/earnings per share (0.10) 3.90
Dividend paid per ordinary share (cents) 3.20 4.50
Dividend Declaration
Notice is hereby given that a gross interim cash dividend (Number 51) of 1.60 cents per share has
been declared and is payable to all shareholders recorded in the share register of the Company at
the close of business on Friday, 23 April 2021.
The dividend will be subject to the Dividends Tax that was introduced with effect from 1 April 2012. In
accordance with the provisions of the Listings Requirements of the Johannesburg Stock Exchange,
the following additional information is disclosed:
• The dividend has been declared out of retained earnings;
• The local Dividends Tax rate is 20%;
• The gross local dividend is 1.60 cents per share for shareholders exempt from Dividends
Tax;
• The net local dividend is 1.28 cents per share for shareholders liable for Dividends Tax;
• The Company has 50 500 000 ordinary shares in issue; and
• The Company’s income tax reference number is 9683/978/14/3.
The following dates are applicable to the dividend: the last day to trade in order to be eligible for
the dividend will be Tuesday, 20 April 2021. Shares will trade ex-dividend from Wednesday, 21 April
2021. The record date will be Friday, 23 April 2021 and payment of the dividend will be made on
Monday, 26 April 2021.
Share certificates may not be dematerialised / re-materialised between Wednesday, 21 April 2021
and Friday, 23 April 2021, 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 payment date. Following the discontinuation of cheque payments
by most South African banks, TeleMasters will no longer issue cheques and all future 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 on +27 029 0112 (international) or 0861 472 644 (local) with their bank
account details into which the dividends can be paid electronically.
Subsequent Events
Changes to the Board
Subsequent to the period end, Michael Jackie Vosloo resigned as Financial Director of the Group
and Wikus Roos was appointed as the new Financial Director. Wikus is a CA(SA) with 38 years’
experience, 31 years of which was as a partner in the Assurance practice of PwC where he served a
wide range of multinational, listed and small to large private clients across a range of industries.
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 financial
statements for the six months ended 31 December 2020.
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/2021/jse/isse/TLM/TLMHY21.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.
JOHANNESBURG
30 March 2021
Directors: DJ Bate*#, MG Erasmus*#, MB Pretorius*, WF Steinberg*#, M Tappan*#, J Voigt,
JL Roos
(* non-executive # independent)
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, 13th Floor, 19 Ameshoff Street,
Braamfontein, 2017
Designated Advisor: AcaciaCap Advisors (Pty) Ltd
Website: www.telemasters.co.za
Designated Advisor
AcaciaCap Advisors (Pty) Ltd
Date: 30-03-2021 04:08:00
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