Slide 1: RMH Investor Presentation
RMH INVESTOR PRESENTATION Results for the six months ended September 2022 14 December 2022
Slide 2: Agenda
AGENDA 1 INTRODUCTION AND BOARD CHANGES 2 FINANCIAL PERFORMANCE | INTERIM RESULTS 3 PORTFOLIO UPDATE 4 OTHER MATTERS 5 Q&A 2
Slide 3: Introduction and board changes
1 Section 1 Introduction and board changes
Slide 4: Introduction and board changes
INTRODUCTION AND BOARD CHANGES • Following the restructure of the RMI portfolio, Herman Bosman stepped down as CEO and financial director of both RMI and RMH effective 30 November 2022. Herman will remain on the RMH board as non-executive director. • Herman’s continuous forward-thinking and innovati
Slide 5: Financial performance
2 Section 2 Financial performance
Slide 6: Financial performance
FINANCIAL PERFORMANCE • For the six months under review, RMH’s net asset value decreased by 14% from R3 910 million at 31 March 2022 to R3 368 million at 30 September 2022. • RMH delivered a loss after tax of R514 million for the six months ended 30 September 2022, compared to a profit of R177 milli
Slide 7: Financial performance: relative distribution of assets
FINANCIAL PERFORMANCE Relative distribution of assets (%) 6 3 Atterbury Europe 15 Atterbury 2 980 R MILLION Divercity as at 31 March 2022 Integer 76 25 Atterbury 739 Divercity R MILLION 13 as at 30 September 62 Integer 2022 7
Slide 8: RMH shareholder return
FINANCIAL PERFORMANCE | SHAREHOLDER RETURN RMH SHAREHOLDER RETURN 250 3,500 Dec 2020 RMH April 2021 October 2022 Current RMH Two year Market Cap: Special Dividend: Special Dividend: Market Cap: shareholder R1.85bn R1.129bn R2.0bn R850m 3,000 return: 46.5% 200 2,500 RMH Share Price (cents) RMH Market
Slide 9: RMH net asset value composition
RMH NET ASSET VALUE COMPOSITION RMH PROPERTY’S INVESTMENTS AS AT 30 SEPTEMBER 2022: % held - 27.5% Various % 10.9% 100% December 2016 and Date acquired February 2018 July 2016 October 2018 July 2016 September 2018 Date disposed September 2022 - - - - Cost (R million) - 484 32 157 1 140 Contribution
Slide 10: RMH net asset value
RMH NET ASSET VALUE BREAKDOWN OF RMH NET ASSET VALUE (R’m) NAV at 30 September 2021 NAV at 30 September 2022 (R’m) (Rm) RMH net asset value 3,725 RMH net asset value 3,368 Net other liabilities ( 64) Net other liabilities ( 116) Cash and cash equivalents 534 446 Cash and cash equivalents 1,973 489 2
Slide 11: Portfolio update
3 Section 3 Portfolio update
Slide 12: Portfolio update: Atterbury Property Holdings
PORTFOLIO UPDATE ATTERBURY PROPERTY HOLDINGS • The net asset value of Atterbury remained static, mainly due to a relatively small increase of 3.9% in the value of investment properties. This increase was due to further additions at the Castle Gate development in Pretoria and infrastructure spend on
Slide 13: Portfolio update: Divercity and Integer Properties
PORTFOLIO UPDATE DIVERCITY INTEGER PROPERTIES • On 18 June 2021, CDC Group PLC subscribed for 39.5% of Divercity. • The carrying value of Integer Properties decreased from R200m to Current shareholders had to proportionately subscribe for an additional R188m as a result of assets being sold at value
Slide 14: Other matters
4 Section 4 Other matters
Slide 15: Dissenting shareholder process
DISSENTING SHAREHOLDER PROCESS • As RMH shareholders are aware, RMH shareholders owning 20 770 019 RMH shares demanded an offer for cash at fair value in terms of section 164(5) to (8) of the Companies Act. • Subsequently, shareholders owning 2 000 000 shares withdrew their demand. The remainder hav
Slide 16: Atterbury guarantee
ATTERBURY GUARANTEE • RMB, a division of FirstRand Bank Limited (the lender) granted a loan to Atterbury in July 2016 in terms of a loan facility agreement. The loan under the loan facility agreement is maturing on 8 July 2023. On that date Atterbury is obliged to repay to the lender in full, the ou
Slide 17: Q&A
Q&A
Slide 18: Q&A
Q&A For the benefit of all investors, copied below are initial questions received from shareholders together with responses: What legal grounds does APH have for saying "we do not want to repay RMB's loan in cash, but rather issue shares (ultimately to RMH) to redeem the debt?" Can they just decide
Slide 19: Q&A
Q&A For the benefit of all investors, copied below are initial questions received from shareholders together with responses: How can Atterbury declare a dividend in specie, I was under the impression that they couldn’t pay a dividend until they paid down their debt or repaid the guarantee? • The dec
Slide 20: 15 SEPTEMBER 2021
15 SEPTEMBER 2021