EPE CAPITAL PARTNERS LTD
(Incorporated in the Republic of Mauritius)
(Registration number: C138883 C1/GBL)
ISIN: MU0522S00005
Share Code: EPE
(“Ethos Capital” or “the Company”)
QUARTERLY UPDATE AS AT 31 MARCH 2019
Ethos Capital is an investment holding company, registered and incorporated in Mauritius as a public company. It is listed on the Johannesburg Stock Exchange and offers shareholders long-term capital appreciation by making commitments and investments into Funds or Direct Investments that are managed by Ethos Private Equity (Pty) Limited (“Ethos”), providing the Company with exposure to a diversified portfolio of unlisted private equity type investments (“Portfolio Companies”). “The Group” refers to the consolidated results of the Company and its deemed subsidiary.
Below is a voluntary financial update of the Company since the interim results announcement made in March 2019.
NAV
At 31 March 2019, Ethos Capital Group’s net asset value per share increased to R11.32 (R11.16 at 31 December 2018). Total assets grew to over R1.9 billion with the group net asset value (net of treasury shares held) at R1.8 billion. The value-weighted average EV/EBITDA valuation multiple of the portfolio was kept materially the same as 31 December 2018 and the investment portfolio will next be revalued as at 30 June 2019.
Invested capital
Ethos Capital’s invested capital as at 31 March 2019 was R1.3 billion, c. 68% of the 31 March 2019 total assets. Post the quarter-end, Ethos Capital invested c. R94 million in the delisting and acquisition of the Torre Analytical Services business. The signed transaction for Echotel to acquire Gondwana is subject to regulatory approval and is expected to complete in June 2019. Post the completion of the latter, invested capital is expected to increase to R1.6 billion (c. 81% of total assets), with Ethos Capital having exposure to seventeen Portfolio Companies that have representation across a diverse set of industries, sectors and vintages.
Disclaimer
The financial information on which this announcement is based, has not been audited, reviewed and reported on by the Company’s external auditors.
Ebene, Mauritius (with simultaneous circulation in Johannesburg)
24 May 2019
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
DATE:
24-05-2019
SPONSOR:
RAND MERCHANT BANK (A division of FirstRand Bank Limited)