The latest SOTP calculation set out below includes JSE-listed share prices which are updated to reflect 15-minutes delayed share price information, while all other information was updated at the last reporting period, unless we have reported additional information to the market.
|Feb-14||Feb-15||Feb-16||Feb-17||Feb-18||22 Jun 2018|
|Asset/Liability||Rm||Rm||Rm||Rm||Rm|| Shares |
|Share price (R)|| Value |
|% of total|
|Curro * (incl. Stadio until unbundling in Oct 2017)||4,660||6,236||9,773||11,180||7,987||228.2||28.20||6,436||11%|
|PSG Konsult *||4,004||5,710||5,441||6,084||7,048||810.1||9.62||7,793||14%|
|Stadio* (since unbundling from Curro in Oct 2017)||2,379||352.4||4.2||1,480||3%|
|Other investments +||949||1,246||1,367||1,909||2,822||3,020||5%|
|Dipeo (prev. Thembeka) +||1,243||603||557||812||535||279||0%|
|Pref investments and loans receivable **||722||1,413||1,335||2,002||1,558||1,650||3%|
|PSG Corporate ++||383||1,398||1,510|
|Perpetual pref funding *||(1,393)||(1,411)||(1,309)||(1,350)||(1,278)||17.4||70.00||(1,219)|
|Other debt **||(615)||(679)||(949)||(949)||(949)||(1,003)|
|Total SOTP value||18,040||33,395||40,383||52,397||55,510||54,555|
|Shares in issue (net of treasury shares) (m)||189.9||204.5||216.3||217.5||217.5||217.5|
|SOTP value per share (R)||95.01||163.28||186.67||240.87||255.17||250.78|
|PSG Group share price (R) *||89.02||136.81||173.69||251.43||217.50||217.50|
* Listed on the JSE Ltd, ** Carrying value, + SOTP value, ++ Valuation
Note : PSG Group's potential capital gains tax ("CGT") liability in the event of its portfolio realisation is negligible given that its listed investments, including Capitec, Curro, PSG Konsult, Zeder and Stadio, could be unbundled in terms of the corporate relief provisions of the Income Tax Act without triggering CGT for PSG Group. The aforementioned listed investments comprise more than 90% of PSG Group's total SOTP assets.
Accuracy of data disclaimer
Although the contents of the SOTP calculation have been compiled with considerable care, it may not be accurate or complete and may also include technical errors from time to time which are beyond our control due to share data information contained in the SOTP calculation having been received from third party service providers. It is designed to assist shareholders and/or investors on a more frequent basis with the SOTP calculation and is not for quick investment decisions, as it would lag the JSE Limited share trading platforms with at least 15 minutes in relation to JSE listed companies set out in the SOTP calculation. Accordingly, PSG Group Limited does not assume responsibility for the accuracy thereof and therefore disclaims, any liability for any loss, liability, damages (whether direct or consequential) or expense of any nature whatsoever which may be suffered as a result of or may be attributable, directly or indirectly, to the use of or reliance upon any information and it is the responsibility of the shareholder and/or investor to confirm the accuracy of the information contained in the SOTP calculation.
Financial advisor disclaimer
The information provided included in the SOTP calculation is for GENERAL INFORMATIONAL PURPOSES ONLY and does not constitute an offer to sell any securities or investment advice relating to securities or a representation that the security is a suitable or appropriate investment for any person. You are advised to give independent consideration to and conduct independent investigation with regards to this information and to obtain investment advice from your independent financial advisors. It is designed to assist shareholders and/or investors on a more frequent basis with the SOTP calculation and is not for quick investment decisions, as it would lag the JSE Limited share trading platforms with at least 15 minutes in relation to JSE listed companies set out in the SOTP calculation.