Voluntary NAV update


13 DEC 2016

EPE 201612130001A
Voluntary NAV update

EPE CAPITAL PARTNERS LIMITED (Incorporated in the Republic of Mauritius)
(Registration number: C138883 C1/GBL)
ISIN: MU0522S00005
Share Code: EPE
(‘Ethos Capital’ or ‘the Company’)


In accordance with the JSE Limited Listings Requirements, Ethos Capital has set out below an updated Net Asset Value (‘NAV’) for the month ended 30 November 2016.

The NAV as at 30 November 2016 was R1.79 billion, reflecting the IPO proceeds net of listing expenses and the return achieved on Temporary Investments less other operating expenditure for the four months ended 30 November 2016. This equates to a NAV per ordinary share (adjusted)*
of R9.95.

Post the completion, earlier in December, of the Primary and Secondary Investments as noted in the Voluntary Investment update issued on 21 November 2016, the Company’s net invested capital (including unfunded guarantees) amounts to more than 20% of the NAV whereas the rest of the NAV is largely invested in Temporary Investments. Furthermore, the Company has total commitments of approximately 39% of its NAV.

*adjusted to exclude the encumbered shares issued to Ethos Private Equity.

The financial information on which this announcement is based has not been reviewed and reported on by the Company’s external auditors.





RAND MERCHANT BANK (A division of FirstRand Bank Limited)

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