SENS Announcements



 
22/04/2014 Sekunjalo Investments Limited - Media Release: Sekunjalo Posts Impressive Interim Results

Media release: Sekunjalo posts impressive interim results

Sekunjalo Investments Limited
(Incorporated in the Republic of South Africa)
Registration number 1996/006093/06
Share code: SKJ and ISIN: ZAE000017893
(“Sekunjalo” or “the Group” or “the Company”)


MEDIA RELEASE

22 April 2014


SEKUNJALO POSTS IMPRESSIVE INTERIM RESULTS

Group Revenue Up By 7%
Operating Profits Increased By 18%
Profit Before Taxation Up By 35%
Total Assets Increased by 7%
Tangible net Asset Value Up By 7%

South Africa’s leading empowerment company, Sekunjalo
Investments Limited today reported solid results in bottom line
earnings, cash flow and net asset value for the interim period
ended 28 February 2014.

The Group, as an investment holding company, has set its
objective to increase net asset value (NAV) by improving the
operational performance of its underlying businesses and
investments, and has done so successfully for the period under
review.

The Executive Chairman of Sekunjalo Investments Limited, Dr
Iqbal Survé said he is delighted by the performance of the
listed subsidiary of the Sekunjalo Investment Holding Company.

Dr Survé has indicated that he is particularly pleased that the
fishing and IT subsidiaries, as well as the investments in
Pioneer Foods and British Telecom all continue to perform
strongly, which has strengthened the Group’s financial position.

Dr Survé has mentioned that the performance has to be applauded,
as traditionally Sekunjalo’s results for the first half of the
year are not as good as the second half of the year due to the
seasonal nature of some of the businesses in the Group.

Group revenue has grown by 7% from the prior interim period due
to the strong operational performance of the underlying
businesses. The Group’s gross profit percentage of 32% was
achieved by improved margins and driving efficiencies throughout
the Group’s operations.
Profit before taxation for the period increased significantly to
R32.7million by R8.5million compared to the prior period of
R24.2million, driven mainly by the organic growth of subsidiary
companies and the strategies implemented during the last two
years.

Earnings and headline earnings per share have increased by 13%
and 12% respectively as a result of the operational performance
of the subsidiaries.

The Group’s asset base increased by R61.6million to R959.6
million, from R897.9 million for the comparative period under
review.

Net asset value (NAV) per share grew to 100.23c from 93.79c for
the interim period, while tangible NAV per share grew to 90.17c
from 83.83c for the same period.

Sekunjalo’s CEO, Khalid Abdulla said that this performance was
as a result of improved operational efficiencies, which compares
well with the prior interim period. He is pleased that the
business strategies implemented are showing the expected results
for the six month period under review.

The Sekunjalo Investments strategy of growing NAV by investing
its surplus capital in its underlying businesses is reaping the
benefits as a result of this approach, and the board and the
company are looking forward to a strong performance in the years
ahead.

He said the re-investment in the organic growth of the Group’s
operations are showing the benefits as expected with operating
profits of R38.9million for the period under review
(R32.9million – 2013). Premier Fishing has steadily improved
its performance with the major contribution coming from the
south coast rock lobster and Abalone divisions. The fishing
sector generally performs better in the second half of the year
due to the seasonal nature of the industry.

The Information Technology and Communication operations continue
to perform well above expectation since the successful
implementation of the National Health Laboratory Systems project
which now moves to annuity maintenance mode.

Abdulla said that the healthcare division’s revenue has grown by
29% with the natural chemical range of products in the
healthcare division showing a good improvement in performance.

The performance of the Group’s investments in large
multinational companies, British Telecom Communication Services
South Africa and Pioneer Foods Group have, as indicated, also
contributed to the Group’s solid interim results.
The fishing and ITC divisions have built a strong platform for
further organic growth and the Group is well positioned to
increase its investments further through acquisition.


ENDS

For further comment please contact:

Khalid Abdulla - 083 707 4211
Cherie Hendricks - 021-427 1400 or 083 718 4493

Sponsor: PSG Capital

Date: 22/04/2014 01:00:00
Supplied by www.sharenet.co.za
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.

22/04/2014 Sekunjalo Investments Limited - Unaudited Interim Results For The Period Ended 28 February 2014

Unaudited interim results for the period ended 28 February 2014

Sekunjalo Investments Limited

(Incorporated in the Republic of South Africa)

Registration number 1996/006093/06

Share code: SKJ and ISIN: ZAE000017893

("Sekunjalo" or "the Group" or "the Company")

Unaudited interim results for the period ended 28 February 2014

Condensed Group Statement of Comprehensive Income



Unaudited Unaudited Audited
Group to Group to Group to
28 February 28 February 31 August
2014 2013 2013
6 months 6 months 12 months
R'000 R'000 R'000
Revenue 242 047 225 339 569 198
Cost of sales (164 475) (149 271) (390 711)
Gross profit 77 572 76 068 178 487
Other income 3 661 3 834 3 949
Other operating expenses (64 809) (63 103) (181 513)
Fair value adjustments 22 498 16 074 66 193
Investment revenue 7 808 4 768 19 935
Loss from equity accounted investments (4 005) (4 350) (8 039)
Finance cost (9 985) (9 048) (20 347)
Profit before taxation 32 740 24 243 58 665
Taxation (13 220) (8 094) (28 313)
Profit for the period 19 520 16 149 30 352

Total comprehensive income 19 520 16 149 30 352

Total comprehensive income
attributable to:
Equity holders of the parent 18 217 16 134 29 734
Non-controlling interest 1 303 15 618
19 520 16 149 30 352
Basic and diluted earnings per ordinary
share (cents) 3.72 3.30 6.08

Weighted (and fully diluted) average number
of ordinary shares in issue (000s) 489 339 489 339 489 339



Condensed Group Statement of Financial Position

Unaudited Unaudited Audited
Group to Group to Group to
28 February 28 February 31 August
2014 2013 2013
R'000 R'000 R'000
Assets
Non-current assets 750 219 723 636 726 285
Property, plant and equipment 129 239 139 792 126 890
Goodwill 37 325 34 191 37 325
Intangible assets 11 868 14 573 12 783
Investments in associates 108 377 116 606 112 382
Other loan receivables 46 597 61 969 38 763
Other financial assets 403 143 330 525 380 644
Deferred tax 13 742 23 556 17 498
Operating lease asset - 2 424 -

Current assets 207 297 174 275 174 818
Inventory 30 024 25 234 17 765
Biological assets 42 101 38 787 41 798
Other financial assets 1 575 939 2 275
Current tax receivable 174 157 174
Trade and other receivables 96 909 73 477 70 497
Cash and cash equivalents 36 514 35 681 42 309

Assets of disposal groups classified as
held for sale 1 990 - 2 127

Total assets 956 578 897 911 903 230

Equity and liabilities
Equity
Equity attributable to equity holders of parent
Share capital and share premium 403 177 403 177 403 177
Reserves 121 194 121 194 121 194
Accumulated losses (33 920) (65 415) (52 137)
490 451 458 956 472 234
Non-controlling interest 6 065 8 230 4 762
496 516 467 186 476 996
Liabilities
Non-current liabilities 299 649 272 113 282 594
Other financial liabilities 159 116 147 490 149 239
Operating lease liability 1 120 454 598
Deferred tax 138 947 123 830 132 721
Other non-current liabilities 466 339 36

Current liabilities 163 413 158 612 143 640
Trade and other payables 93 645 73 867 77 848
Other financial liabilities 11 316 24 323 38 864
Current tax payable 4 395 5 849 4 009
Provisions 18 054 16 670 21 369
Other current liabilities 109 - 336
Bank overdraft 35 894 37 903 1 214

Total equity and liabilities 956 578 897 911 903 230

Net asset value per share (cents) 100.23 93.79 96.50
Tangible net asset value per share (cents) 90.17 83.83 86.26


Condensed Group Statement of Cash Flows

Unaudited Unaudited Audited
Group to Group to Group to
28 February 28 February 31 August
2014 2013 2013
R'000 R'000 R'000
Cash flows from operating activities (5 697) 2 432 42 959
Cash flows from investing activities (7 385) (13 369) (13 487)
Cash flows from financing activities (27 394) (30 971) (28 063
Total cash movement for the period (40 476) (41 908) 1 409
Cash and cash equivalent at the
beginning of the period 41 095 39 686 39 686

Cash and cash equivalents at the end of
the period 619 (2 222) 41 095


Condensed Group Statement of Changes in Equity
For the period ended 28 February 2014

Attributable Non-
to controlling Total
Parent interest equity
R'000 R'000 R'000
Balance at 1 September 2012 442 823 9 041 451 864
Profit for the period 29 734 618 30 352
Dividends paid - (2 218) (2 218)
Change in ownership ­ control not lost (323) (2 580) (2 903)
Business combinations - (99) (99)
Balance at 31 August 2013 472 234 4 762 476 996
Profit for the period 18 217 1 303 17 168
Balance at 28 February 2014 490 451 6 065 494 164




Condensed Group Segmental Report

Information
Technology Fishing Healthcare
Unaudited Unaudited Unaudited
Group to Group to Group to
28 February 28 February 28 February
2014 2014 2014
R'000 R'000 R'000
Revenue 88 492 119 020 11 547
External sales 88 492 119 020 11 547

Segment results
Operating profit/(loss) 14 713 15 064 (2 072)

Carrying amount of assets 77 170 249 082 37 739
Carrying amount of liabilities 39 919 129 341 9 138





Biotechnology Corporate Group
Unaudited Unaudited Unaudited
Group to Group to Group to
28 February 28 February 28 February
2014 2014 2014
R'000 R'000 R'000
Revenue - 22 988 242 047
External sales - 22 988 242 047

Segment results
Operating profit - 11 217 38 922

Included in segment results:
Fair valuation of investments - 22 498 22 498
Carrying amount of assets 154 180 441 407 956 686
Carrying amount of liabilities 24 909 259 755 462 522
Loss from associate (4 005) - (4 005)


Information
Technology Fishing Healthcare
Unaudited Unaudited Unaudited
Group to Group to Group to
28 February 28 February 28 February
2013 2013 2013
R'000 R'000 R'000
Revenue 103 686 89 404 8 984

External sales 103 686 89 404 8 984

Segment results
Operating profit/(loss) 26 625 3 430 (3 868)

Carrying amount of assets 68 283 250 705 31 622
Carrying amount of liabilities 33 541 124 498 11 888



Biotechnology Corporate Group
Unaudited Unaudited Unaudited
Group to Group to Group to
28 February 28 February 28 February
2013 2013 2013
R'000 R'000 R'000
Revenue - 23 265 225 339
External sales - 23 265 225 339

Segment results
Operating profit/(loss) (4) 6 690 32 873

Included in segment results:
Fair valuation of investments - 16 074 16 074
Carrying amount of assets 177 435 369 866 897 911
Carrying amount of liabilities 24 909 235 889 430 725
Loss from associate (4 350) - (4 350)


Notes

The Media division is managed under the corporate office for the first six months as the bulk of the
revenue is generated in the second half of the year.

Determination of headline earnings

Unaudited Unaudited Audited
Group to Group to Group to
28 February 28 February 31 August
2014 2013 2013
R'000 R'000 R'000
Earnings attributable to ordinary
equity holders of parent entity IAS 33 18 217 16 134 29 734

Adjusted for:
Loss on disposal of property,
plant and equipment IAS 36 9 85 95

Headline earnings 18 226 16 219 29 829

Headline earnings per ordinary
share (cents) 3.72 3.31 6.10




Basis of preparation

The condensed consolidated financial statements are prepared in accordance with the JSE Limited ("JSE") Listings
Requirements and the requirements of the Companies Act of South Africa, 2008 as amended, applicable to summarised
financial statements. The JSE Listings Requirements require financial reports to be prepared in accordance with
the framework concepts, the measurement and recognition requirements of International Financial Reporting Standards
("IFRS"), the SAICA Financial Reporting Guides as issued by the Accounting Practices Committee and also that they,
as a minimum, contain the information required by IAS 34 `Interim Financial Reporting'. The accounting policies
applied in the preparation of the summarised consolidated financial statements from which the summary consolidated
financial statements were derived are in terms of IFRS and are consistent with the accounting policies applied in
the preparation of the previous consolidated annual financial statements.

The unaudited interim financial results were prepared by Natasha September BCom (Hons), CA(SA).

Commentary

Sekunjalo Group posts excellent financial performance due to the underlying divisions achieving better than
expected results in the first half of the 2014 financial year. Sekunjalo Investments Limited is a JSE-listed subsidiary
of Sekunjalo Investment Holdings (Pty) Ltd and part of the Sekunjalo Investments Group.

Net asset value (“NAV”) of the Group increased to R496m (2013: R467m) as a result of an excellent operational
performance and the improved value in the investments.

Key financial highlights

Group revenue increased by 7% compared to the prior interim period from R225m to R242m mainly due to the improved
revenues achieved from the fishing division.

Profit before taxation for the period increased by 35% to R32,7m (2013: R24,2m) with increased performance from the
underlying investments.

The headline earnings per share increased from 3.31c in 2013 to 3.72c and earnings per share also increased by 0.42c
from 3.30c in 2013 to 3.72c for the current interim period.

Cash from operations for the interim period was utilised for additional working capital requirements of R9m for the
underlying divisions which impacted the current reporting period.

The Group’s asset base increased by R61m to R959m (2013:R898m) for the period under review. The major reasons for the
increase are the additional working capital in current assets and the increase in the value of the strategic
investments during the interim period.

NAV per share increased from 93.79c in the prior period to 100.23c, while tangible NAV per share increased from 83.83c
to 90,17c for the current period.

Financial liabilities decreased to R170m from R188m in 2013 mainly due to the reduction in preference liabilities on the
strategic investments.

Strategic investments

The investment in the listed Pioneer Food Group consistently shows increased value since its acquisition in March 2012.
The British Telecommunication Services SA investment also delivered another dividend.

Fishing

Interim results show a strong revenue contribution of R119m (2013:R89m) for Premier Fishing SA group and its divisions.
The fishing division achieved an operating profit for the period of R15m with the major contributors being the south
coast rock lobster and abalone division due to better pricing and greater volumes.

Aquaculture

The abalone division produced excellent results in the first half of the year.

Information communication technology

The information communication technology ("ICT") division focuses on the acquisition and development of niche-market
information and communication technology companies.

The ICT division performed satisfactorily, with subsidiaries performing well against budgets. The division achieved an
operating profit of R14,7m (2013:R26,6m) with the expected completion of the implementation of the hospital information
systems (“HIS”).

Health System Technologies (Pty) Ltd (“HST”), a HIS, laboratory information system and pharmacy information
system integrator and provider, has continued to meet its contractual obligations to roll out the centralized HIS and
Pharmacy solution to the Provincial Government of the Western Cape hospitals and the National Health Laboratory Services.

Saratoga Software (Pty) Ltd, a software development company which builds custom software solutions for corporate
customers, has grown consistently over the past few years and is performing ahead of expectations.

Healthcare

The healthcare division’s revenue improved by 29% from R8,9m to R11,5m in comparison to the prior interim period. The
natural chemical product range in Healthcare is starting to show traction.

Biotechnology

Genius Biotherapeutics (formerly Bioclones), South Africa’s largest medical biotechnology company has continued with its
development of the dendretic cells vaccine project and the preclinical work is showing good results.

Ribotech (Pty) Ltd, a subsidiary of Bioclones, has a production facility for the manufacturing of
Granulocyte-Colony Stimulating Factor, a product used in the oncology market. The Ribotech research and
development activities are starting to show tangible results.

Media

espAfrika (Pty) Ltd, a Group subsidiary, has hosted the Cape Town International Jazz Festival for the 15th year which
was a great success. The company’s performance for the six months is an expected operating loss as espAfrika has most
of its events during the second half of the financial year.

Prospects

The Group will continue its focus to grow the ICT and fishing divisions organically as well as by acquisition as the
operations continue to produce satisfactory results.

The ICT division has built a strong platform for further organic growth and has positioned itself well to increase
its investments by acquisition.

AmetHst (Pty) Ltd – Parallel arbitration negotiations to resurrect the Gauteng Department of Health and Social
Development Hospital Information System and Electronic Health Record contracts are on-going.

As an investment holding company, we expect a challenging year and believe that our businesses will grow steadily
from the successes of the past.

The Group’s auditors have not reviewed nor reported on any comments relating to future prospects.

Dividends

No dividends have been declared for the current period. The board continues to work towards the payment of dividends
in the foreseeable future.

Changes to the board of directors

Mr Takudzwa Hove was appointed as a non-executive director on 4 September 2014.

Appreciation

We wish to acknowledge the support of our staff, Group executives, management, our board of directors as well as
our stakeholders and business partners for their loyalty and dedication to the Group in producing these satisfactory
results.


Dr MI Survé Mr Khalid Abdulla
Executive chairman Chief executive officer

Cape Town
22 April 2014


Directors
Dr M Iqbal Survé* (Executive chairman); Khalid Abdulla* (Chief executive officer); Rev. Dr Vukile Mehana;
Johannes Mihe Gaomab; Salim Young; Aziza Amod; Takudzwa Hove; Cherie Felicity Hendricks*; Chantelle Ah Sing*
*Executive directors

Company secretary: Cherie Felicity Hendricks

Registered address: Quay 7, East Pier, Victoria and Alfred Waterfront, Cape Town 8001

Email: cherieh@sekunjalo.com

Transfer secretaries: Link Market Services South Africa (Pty) Ltd, 19 Ameshoff Street,13th Floor, Rennie House,
Braamfontein, Johannesburg 2000

Auditors: Grant Thornton Cape

Sponsor: PSG Capital

Date: 22/04/2014 12:45:00
Supplied by www.sharenet.co.za
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.

28/02/2014 Sekunjalo Investments Limited - Results Of The Annual General Meeting

Results Of The Annual General Meeting

SEKUNJALO INVESTMENTS LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1996/006093/06)
ISIN: ZAE000017893
JSE Share Code: SKJ
("Sekunjalo" or "the Company")

RESULTS OF THE ANNUAL GENERAL MEETING

Shareholders are hereby advised that the requisite majority of
shareholders approved all of the ordinary and special
resolutions tabled at the Company’s annual general meeting held
on Thursday, 27 February 2014, with the exception of ordinary
resolution number 13, which was withdrawn prior to the annual
general meeting.

Cape Town
28 February 2014

Sponsor
PSG Capital

Date: 28/02/2014 09:05:00
Supplied by www.sharenet.co.za
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.

18/02/2014 Sekunjalo Investments Limited - Media Release

Media release

Sekunjalo Investments Limited
(Incorporated in the Republic of South Africa)
Registration number 1996/006093/06
Share code: SKJ
ISIN: ZAE000017893
("Sekunjalo" or “the Company”)

SENS Sekunjalo rejects the scurrilous attempt by Times Media
Group, Sunday Times to smear its reputation and good name

Chief Executive Officer of Sekunjalo Investments Limited, Mr
Khalid Abdulla said “the latest attempt by the Sunday Times is a
cheap shot aimed at Sekunjalo”. It is well known that Premier
Fishing SA (Pty) Ltd (Premier Fishing) is in discussion with the
Competition Commission around an investigation into the small
pelagic industry and this is yet another desperate attempt by
the Sunday Times to portray Premier Fishing in a bad light.

Sekunjalo has been subjected to defamatory attacks by the Times
Media Group (TMG) over the last few months since Sekunjalo
Holdings acquired the competitor to TMG, Independent News Media
South Africa (INMSA). TMG Newspapers and online has published
almost 60 articles on Sekunjalo since its acquisition of INMSA.
In almost all instances the articles are defamatory and an
attempt to paint a negative picture of Sekunjalo in the eyes of
the public, readers and advertisers. This shameful attempt
by Sunday Times and TMG's associated newspapers and online sites
is a desperate attempt to undermine INMSA in the market place.

Premier Fishing and Sekunjalo are very hesitant to comment as we
respect the authority of the Competition Commission during this
process. However, Sekunjalo has been forced to defend its public
reputation due to the malicious campaign by the Sunday Times to
defame the company. This is the second time in as many months
that the Sunday Times completely disregards and disrespects
regulatory authorities and their process by publishing
information which is not complete and uses it to create the
impression that the company has committed a transgression.

The complaint against Oceana, (the largest industry player in
small pelagics) and smaller fishing companies such as Premier
Fishing relates to the use by the entire industry of the
application of a raw fish formula to determine the remuneration
of vessel owners, skippers and crew. It should be noted, that
the process of remunerating skippers, crew and boat owners was
prevalent across the pelagic industry for more than 40 years,
pre-existing the acquisition of Premier Fishing by Sekunjalo
Investments Ltd.

The matter involving Premier Fishing is much narrower in scope
than the matter relating to all the other fishing companies and
in respect of which Oceana concluded a consent order with the
Competition Commission. The alleged contraventions of the
Competition Act are technical in nature and not typical of
blatant collusive activity and we reserve our rights in this
matter.

Mr Abdulla referred the media to a press statement issued by
Oceana when they signed a consent agreement with the Competition
Commission, CEO Francois Kuttel said, “The bulk of the penalty
relates to open negotiations which were in place for the purpose
of compensating skippers, crew, and some private boat owners in
the small pelagic industry for over four decades. Whilst it was
technically a contravention of the Competition Act, we believed
this activity was covered by the exemption relating to
collective bargaining.”

Premier Fishing made it very clear that it was one of the few
fishing companies that tried to change the collective bargaining
process but it was rejected by the skippers and crew. Premier
Fishing has provided the Competition Commission with this record
of interaction.

The Sunday Times has deliberately tried to misinform the public
and create the impression that the technical contravention of
the Act was recent. The facts are however, Premier Fishing
exited the collective bargaining arrangements after the sale of
its cannery and fish meal plant during 2006. The complaints
against it, which relate to its canning operations, are
therefore historic complaints. Moreover, it was not a
significant competitor in the market during the relevant times.

Whilst Premier Fishing has been engaged in a settlement
negotiation with the Competition Commission to deal with this
matter, taking into account the legal costs and management time,
Premier Fishing does not believe that it has been guilty of
contravening the Competition Act in relation to any matter
involving the pelagic industry.

As far as Premier Fishing is aware, the Competition Commission
has not yet referred the matter against Premier Fishing to the
Tribunal for hearing and any potential financial outcome has
already been accounted for previously by the Company.
We reiterate, Sekunjalo Investments Ltd and its subsidiaries are
fully compliant with the legal, ethical and corporate governance
framework in South Africa and we emphatically reject any attempt
to suggest that it or any of its subsidiary companies have been
involved in blatant collusive practices.

Premier Fishing and Sekunjalo will not issue any further comment
until the matter is resolved with the Competition Commission and
ask people to respect regulatory processes in this country.

It is clear that Times Media Group and its publications have no
regard for regulatory institutions and due processes. We are not
surprised.

Cape Town
18 February 2014

Sponsor
PSG Capital

Date: 18/02/2014 07:07:00
Supplied by www.sharenet.co.za
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.

25/11/2013 Sekunjalo Investments Limited - Withdrawal Of Cautionary Announcement

Withdrawal of Cautionary Announcement

Sekunjalo Investments Limited
(Incorporated in the Republic of South Africa)
Registration number 1996/006093/06
Share code: SKJ
ISIN: ZAE000017893
("Sekunjalo" or “the Company”)

WITHDRAWAL OF CAUTIONARY ANNOUNCEMENT

Shareholders are referred to the cautionary announcement dated 2
September 2013 and the renewal of cautionary announcement dated 15
October 2013. Shareholders are hereby advised that negotiations
have been terminated and accordingly, caution is no longer
required to be exercised by shareholders when dealing in the
Company’s securities.

Cape Town
25 November 2013

Sponsor
PSG Capital

Date: 25/11/2013 03:16:00
Supplied by www.sharenet.co.za
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.

22/11/2013 Sekunjalo Investments Limited - No Change Statement And Notice Of Annual General Meeting

No Change Statement And Notice Of Annual General Meeting

SEKUNJALO INVESTMENTS LIMITED
Incorporated in the Republic of South Africa
(Registration number: 1996/006093/06)
ISIN: ZAE000017893
JSE Share Code: SKJ
(“Sekunjalo” or “the Company”)

NO CHANGE STATEMENT AND NOTICE OF ANNUAL GENERAL MEETING

Further to the publication of the detailed results announcement on
SENS on Tuesday, 5 November 2013, of Sekunjalo’s audited group results
for the year ended 31 August 2013, Sekunjalo advises that its 2013
Integrated Report, which incorporates the audited annual financial
statements for the period, is available on its website:
www.sekunjalo.com or can be obtained from the Company’s registered
office, from today, 22 November 2013, and contains no modifications
from the aforementioned SENS announcement.

NOTICE OF ANNUAL GENERAL MEETING

The notice of annual general meeting, containing the abridged annual
financial statements has been distributed to shareholders today, 22
November 2013 and accordingly notice is hereby given that the annual
general meeting of Sekunjalo will be held at Sekunjalo Head Office,
Premier Fishing, Quay 7, East Pier, V&A Waterfront on Tuesday, 27
February 2014, at 15:00, to transact the business as set out in the
notice of annual general meeting.

The date on which shareholders must be recorded in the share register
for purposes of being entitled to attend and vote at the annual
general meeting is Friday, 21 February 2014, with the last day to
trade being Friday, 14 February 2014.

22 November 2013
Cape Town

Sponsor
PSG Capital (Pty) Limited

Date: 22/11/2013 02:32:00
Supplied by www.sharenet.co.za
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.

07/11/2013 Sekunjalo Investments Limited - Update To The Audited Financial Results

Update To The Audited Financial Results

Sekunjalo Investments Limited
(Incorporated in the Republic of South Africa)
Registration number 1996/006093/06
Share code: SKJ
ISIN: ZAE000017893
("Sekunjalo" or “the Company”)

UPDATE TO THE AUDITED FINANCIAL RESULTS

Shareholders are referred to the SENS announcement dated 5
November 2013 relating to the audited group results for the year
ended 31 August 2013. Shareholders are hereby advised that for the
avoidance of doubt the unmodified audit report from the Group’s
independent auditors, PKF (Cpt) Inc. is available for inspection
at the registered office of the Company.

Cape Town
7 November 2013

Sponsor
PSG Capital

Date: 07/11/2013 10:16:00
Supplied by www.sharenet.co.za
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.

05/11/2013 Sekunjalo Investments Limited - Media Release

Media release

Sekunjalo Investments Limited
(Incorporated in the Republic of South Africa)
(Registration number 1996/006093/06)
Share code: SKJ & ISIN: ZAE000017893
("Sekunjalo" or "the Company" or “the Group”)


SEKUNJALO DELIVERS STRONG PROFITS AND SOLID INVESTMENT VALUE

Highlights
Revenue increased by 25% from R455m to R569m.
Headline earnings increased by 63% from R18m to R30m.
NAV per share increased by 7% from 90.49c to 96.50c.
Cash generation from operations consistent at R56m sustainable
level.

The continued organic growth of underlying assets, substantial
growth in investment performance and new contracts obtained in
operating businesses, resulted in diversified investment group
Sekunjalo Investments Limited (“SIL”), delivering strong
financial results for the financial year ending 31 August 2013.

Sekunjalo today reported that its Net Asset Value, the most
important measure of performance in an investment holding
company, grew to 96.50c per share (previously 90.49c per share).
The Group’s tangible Net Asset Value grew by 7% to 86.26 per
share. The company’s underlying NAV is 154.20c per share at year
end.

Sekunjalo’s underlying operations shows consistent sustainable
earnings with profit before tax at R58m (compared to R48m last
year), thanks to the solid performances from its two main
operating subsidiaries, Sekunjalo Technology Solutions Group and
Premier Fishing.

SIL, as an investment holding company, has set its objective to
increase its net asset value (NAV) by improving operational
performance of its underlying businesses and investments and has
done so successfully for the year under review.

The Executive Chairman of Sekunjalo Investments Limited, Dr
Iqbal Survé said he is delighted by the performance of the
listed Sekunjalo Investment Limited Group. He said that the
strategies implemented by the board are beginning to bear fruit
and the strong growth in earnings and NAV as well as the good
cash flows indicates that the Group is beginning to generate
significant value for its shareholders.

Dr Survé has indicated that he is delighted that the fishing and
technology and communications subsidiaries, as well as the
investments in Pioneer Foods and British Telecom all continue to
perform strongly.

Sekunjalo’s strategy of growing NAV by investing its surplus
capital in its underlying businesses is reaping the benefits of
this approach and the board and the company is looking forward
to a strong performance in the years ahead.

Group revenue has grown by 25% from the prior year due to the
strong operational performance of its underlying businesses.
The Group’s gross profit percentage is in line with expectations
with its technology solutions and fishing operations achieving
efficient performances which are shown in their gross margins
and results.

Profit before taxation for the year has increased significantly
to R58m as compared to the prior period year of R48m, driven
mainly by the subsidiaries organic growth and strategies
implemented over the past few years.

Earnings and headline earnings per share have increased by 66%
and 63% respectively as a result of the operational performance
of the subsidiaries.

The Group’s asset base has increased by R48m to R903m from R855m
as compared to the prior year.

Sekunjalo said that this performance has resulted in sustainable
cash generation from operations which compares well with the
prior year.

Sekunjalo CEO, Khalid Abdulla said that “The R42m generated in
net operational cash flow was consistent, and underpinned the
quality and sustainability of Sekunjalo’s strong earnings flow”.

Abdulla said that due to the re-investment into the organic
growth of the Information Technology Communication Group
(Sekunjalo TSG), the division is performing in line with
expectation with operating profits of R35m for the year. This
was achieved through the implementation and roll out of the long
term contracts secured during the prior financial years.

Sekunjalo TSG’s operations continue to perform well with revenue
from operations increasing by 27% from R192m compared to R152m
during the prior year. The Information Technology Communication
Group also performed above target and generated a positive cash
flow.

Premier Fishing generated an operating profit from operations
for the year under review. Premier Fishing has steadily
maintained its performance with the major contribution coming
from the south coast and west coast rock lobster divisions.


The Group’s non-controlling interests in large multinational
companies, British Telecom Communication Services South Africa
and Pioneer Foods Group have also strengthened the Group’s
financial position.

The ICT and fishing divisions have built a strong platform for
further organic growth and the Group is well positioned to
increase its investments further through acquisition.

Sekunjalo Media owns the rights of and manages the Cape Town
International Jazz Festival. The Cape Town International Jazz
Festival continues to bear fruit and contributes greatly to the
gross domestic product of the Western Cape and national economy
of R475m and R800m respectively.

Looking ahead, Abdulla says, “Sekunjalo is on a firm footing and
moving towards a position where directors can focus their minds
on further expansion, both operationally and through strategic
investments”.

Abdulla says, "Overall, Sekunjalo is in a much stronger
position. Our balance sheet is strong, our cash flow is
improving and prospects for our mainstay businesses are looking
promising. We are also expanding our existing businesses and
looking at new strategic investments."
PERFORMANCE HIGHLIGHTS FOR 2013:

- Net asset value – the most important indicator of
performance in Sekunjalo grew to 96.50c per share from
90.49c per share last year. Sekunjalo’s tangible Net Asset
Value appreciated by 7% to 86.26c per share;
- Sekunjalo’s turnover shifted over to above the R500m mark;
gross trading margins consistent over 30%;
- Continuing operations generated 6.10c per share in headline
earnings; profit before tax increased to R58m compared with
R48m last year;
- The company’s main operating subsidiaries, Sekunjalo
Technology Solutions Group and Premier Fishing,
collectively generated R59 in operating profits;
- The company’s first strategic partnership with a multi-
national, British Telecoms, is delivering consistent
dividends;
- Operational cash flows of R42m;
- Gearing is 10% and finance cost cover shifting up to 3.88
times.

5 November 2013

Sponsor
PSG Capital

Date: 05/11/2013 11:05:00
Supplied by www.sharenet.co.za
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.

05/11/2013 Sekunjalo Investments Limited - Audited Group Results For The Year Ended 31 August 2013

Audited Group Results For The Year Ended 31 August 2013

Sekunjalo Investments Limited

(Incorporated in the Republic of South Africa)

Registration number 1996/006093/06

Share code: SKJ and ISIN: ZAE000017893

("Sekunjalo" or the Group" or the Company")

Audited Group results for the year ended 31 August 2013

CONDENSED GROUP STATEMENT OF FINANCIAL POSITION

Audited Audited
Group to Group to
31 August 2013 31 August 2012
R'000 R'000
Assets
Non-current assets 726 285 673 555
Property, plant and equipment 126 890 135 500
Goodwill 37 325 34 191
Intangibles 12 783 15 642
Investments in joint ventures - -
Investment in associate 112 382 120 956
Loans receivable 38 763 25 322
Operating lease asset - 2 274
Other financial assets 380 644 314 451
Deferred tax 17 498 25 219

Current assets 174 818 181 748
Inventory 17 765 17 851
Biological assets 41 798 38 537
Other loans receivable 2 275 1 464
Current tax receivable 174 209
Trade and other receivables 70 497 77 434
Cash and cash equivalents 42 309 46 253

Assets of disposal groups and non-current assets
held for sale 2 127 -

Total assets 903 230 855 303

Equity and liabilities

Capital and reserves
Share capital and share premium 403 177 403 177
Reserves 121 194 121 194
Accumulated losses (52 137) (81 548)
Equity attributable to parent 472 234 442 823
Non-controlling interests 4 762 9 041
Total equity 476 996 451 864

Non-current liabilities 282 594 253 872
Other financial liabilities 149 239 129 949
Deferred tax 132 721 123 189
Other non-current liabilities 634 734

Current liabilities 143 640 149 567
Trade and other payables 77 848 85 806
Other financial liabilities 38 864 37 784
Other current liabilities 336 51
Provisions 21 369 16 766
Bank overdraft 1 214 6 567
Current tax payable 4 009 2 593

Total equity and liabilities 903 230 855 303


CONDENSED GROUP STATEMENT OF COMPREHENSIVE INCOME

Audited Audited
Group to Group to
31 August 2013 31 August 2012
R'000 R'000

Revenue 569 198 455 860
Cost of sales (390 711) (305 131)
Gross profit 178 487 150 729
Other income 3 949 3 700
Other expenses (148 600) (123 882)

Impairments (32 913) (1 370)
Fair valuation adjustments 66 193 30 081
Investment revenue 19 935 17 334
Loss from associate (8 039) (9 211)
Finance cost (20 347) (19 251)
Profit before tax 58 665 48 130
Tax (28 313) (29 931)
Profit for the year after tax 30 352 18 199

Other comprehensive income - -
Total comprehensive income 30 352 18 199

Attributable to:
Non-controlling interests 618 246
Equity holders of the parent 29 734 17 953

30 352 18 199

Number of shares in issue 489 339 489 339
Weighted number of shares in issue 489 339 489 339
Diluted number of shares in issue 489 339 489 339

Earnings and diluted earnings per share (cents) 6,08 3,67
Net asset value per share (cents) 96,50 90,49
Tangible net asset value per share (cents) 86,26 80,31


CONDENSED STATEMENT OF CHANGES IN EQUITY

Attributable Non-
to controlling Total
parent interests equity
R'000 R'000 R'000

Balance at 1 September 2011 424 870 10 195 435 065
Net profit for the year 17 953 246 18 199
Dividends declared to NCI by subsidiaries - (1 400) (1 400)
Balance at 31 August 2012 442 823 9 041 451 864
Net profit for the year 29 734 618 30 352
Dividends declared to NCI by subsidiaries - (2 218) (2 218)
Change in ownership interest - control
not lost (323) (2 580) (2 903)
Business combination (99) (99)

Balance at 31 August 2013 472 234 4 762 476 996


CONDENSED GROUP STATEMENT OF CASH FLOWS

Audited Audited
Group to Group to
31 August 2013 31 August 2012
R'000 R'000

Cash flow from operating activities 42 959 53 302

Cash flows from investing activities (13 487) (96 437)

Cash flows from financing activities (28 063) 90 408

Increase in cash and cash equivalents 1 409 47 273

Cash and cash equivalents at beginning of the year (39 686) (7 587)

Cash equivalents at the end of the year 41 095 39 686


CONDENSED GROUP SEGMENTAL REPORT 2013

Technology Health-
Solutions Fishing care
R'000 R'000 R'000

Revenue 193 031 272 729 16 918
External sales 192 906 272 464 16 382
Inter group sales 125 265 536

Segment result
Operating profit/(loss) 35 225 24 613 (9 219)

Included in segment results: (1 182) (18 217) (2 007)
Impairments (100) (1 612) -
Depreciation and amortisation (1 082) (16 605) (2 007)
Fair valuation of investments - - -

Carrying amount of assets 74 904 233 829 34 784
Carrying amount of liabilities 45 935 105 169 6 896

Capital expenditure 465 9 841 713

Biotechnology Investments Media Group
R'000 R'000 R'000 R'000

Revenue - 24 017 88 888 595 583
External sales - 1 110 86 336 569 198
Inter group sales - 22 907 2 552 26 385

Segment result
Operating profit/(loss) (30 494) 54 427 (7 436) 67 116

Included in segment results: (30 427) 65 078 (80) 13 165
Impairments (30 427) (779) - (32 918)
Depreciation and amortisation - (160) (256) (20 110)
Fair valuation of investments - 66 017 176 66 193

Carrying amount of assets 150 708 391 408 17 597 903 230
Carrying amount of liabilities 24 972 219 305 23 957 426 234

Loss from associate (8 039) - - (8 039)
Capital expenditure - 864 99 11 982


CONDENSED GROUP SEGMENTAL REPORT 2012

Technology Fishing Health-
Solutions care
R'000 R'000 R'000

Revenue 152 436 208 018 16 994
External sales 152 214 207 639 16 994
Inter group sales 222 379 -

Segment result
Operating profit/(loss) 38 459 16 028 (7 828)

Included in segment results: (4 790) (17 465) (2 018)
Impairments (275) - -
Depreciation and amortisation (4 515) (17 465) (2 018)
Fair valuation of investments - - -

Carrying amount of assets 82 994 255 946 16 677
Carrying amount of liabilities 42 696 97 898 8 341

Capital expenditure 750 10 831 19


Biotechnology Investments Media Group
R'000 R'000 R'000 R'000

Revenue - 21 952 77 820 477 220
External sales - 1 999 77 014 455 860
Inter group sales - 19 953 806 21 360

Segment result
Operating profit/(loss) (42) 19 738 (7 097) 59 258

Included in segment results: - 28 914 (271) 4 370
Impairments - (1 095) - (1 370)
Depreciation and amortisation - (58) (285) (24 341)
Fair valuation of investments - 30 067 14 30 081

Carrying amount of assets 174 779 330 146 17 838 878 380
Carrying amount of liabilities 24 951 242 468 16 528 432 882

Loss from associate (9 211) - - (9 211)
Capital expenditure - 244 432 12 276


RECONCILIATION BETWEEN OPERATING PROFIT AND PROFIT BEFORE TAX

Audited Audited
Group to Group to
31 August 2013 31 August 2012
R'000 R'000

Operating profit 67 116 59 258
Investment revenue 19 935 17 334
Finance costs (20 347) (19 251)
Loss from equity accounted investments (8 039) (9 211)

Profit before tax 58 665 48 130


Audited Audited
Group to Group to
Calculation of Headline Earnings 31 August 2013 31 August 2012
R'000 R'000

Earning attributable to ordinary equity
holders of parent entity - IAS 33 29 734 17 953
Adjusted for:
Impairments of intangible assets - IAS 38 - 275
Gains on disposal of property, plant and
equipment - IAS 36 95 122

Headline earnings 29 829 18 350

Headline earnings and diluted headline earnings
per share (cents) 6.10 3.75


Business combination

On 1 June 2013 Sekunjalo Technology Solutions Group (Pty) Ltd acquired 75% of the voting
equity interest of World Wide Creative (Pty) Ltd ("WWC") which resulted in the group
obtaining control over WWC. WWC is principally involved in the digital marketing agency
sector in the technology industry.

Audited
Group to
31 August 2013
R'000

Property, plant and equipment 135
Loans to directors, managers and employees (564)
Current tax receivable (14)
Trade and other receivables 1 951
Trade and other payables (1 893)
Deferred tax 143
Cash and cash equivalents 635

Non-controlling interest (99)

Goodwill 3 134


Additional financial information

Included in the profit is fair value adjustments to the Groups investments of R66m.
Refer to the segmental report for fair valuations within each division.

Certain loans to Bioclones have been impaired after the impairment test performed in
terms of IAS 39 indicated that a portion of the loan may not be recovered.



Highlights

Revenue increased by 25% from R455m to R569m.

Headline earnings increased by 63% from R18m to R30m.

NAV per share increased by 7% from 90,49c to 96,50c

Group performance

The Group revenue has increased by 25% to R569m (2012:R455m), thereby breaking the half
a billion mark which reflects the underlying operational organic growth of the
operations.

The profit attributable to the Group equity holders is R29m (2012: R18m). The headline
earnings has increased from R18m to R30m in 2013 with headline earnings per share
("HEPS") increasing from 3.75c to 6.10c. This is mainly due to the increase in the
value of the strategic investments and operational performance. Prior year headline
earnings were impacted by the change in the capital gains tax rate.

The operating profit has increased from R59m to R67m which demonstrates that
consistent returns were achieved from the underlying investments.

The Group net asset value (NAV") increased by approximately 5,5% from R452m to R477m
which shows the strength of the Groups financial position. The NAV per share increased
from 90,49c to 96,50c. Tangible net asset value per share increased from 80,31c to
86,26c. Sekunjalos strategic intent to increase its investment asset base has been
achieved.

The group has incurred capital expenditure of R11,8m in the current year under review,
mainly from the fishing division with maintenance and replacement cost of R9m on the
vessel fleet.

As a result of the dividend cash flows decreasing from R18m to R11m in comparison to
prior year, the net cash flows from operating activities have decreased from R53m to
R42m.

The fishing division performed well as a result of additional sales volumes from the
lobster division, better market pricing and favourable exchange rates.

Profit growth for the fishing division was excellent compared to the prior year, with
operating profit increasing by 50% to R24m.

The Sekunjalo Technology Solutions Group division earnings declined from R38m to R35m
due to the expected lower margins after the successful implementation of projects.


Strategic investments

The Groups strategic investments consist of British Telecom Communication Services
South Africa (BTSA"), Saab South Africa (Pty) Ltd (Saab SA") and Pioneer Food
Group Ltd.

The investment in BTSA continues to perform well with budgeted expectations exceeded in
the current year. The investment looks extremely well positioned to grow consistently
over the next few years. The investment delivered another consistent dividend during
the year under review.

Saab SA is the South African operations of Swedish multi-national Saab AB, which
specializes in civil security and defense. The Group expects this investment to return
a dividend in the medium term.

Our investment in the Pioneer Foods Group grew from R84m to R125m for our 0,75%
stake. Dividends were received in the current year by the listed investment, which
indicates consistent returns.


Information Communication Technology

The expected growth of Sekunjalo Technology Solutions Group division (Sek TSG") is
shown in the revenue growth of 27%, an increase from R152m to R192m. The operating
profit to the Group is R35m which shows that the technology solution division continues
to perform consistently.

Companies in the Sek TSG division include Saratoga Software (Pty) Ltd (Saratoga")
which is a software development house primarily focused on the insurance industry and
Digital Matter (Pty) Ltd (Digital Matter"), a 75% Saratoga owned subsidiary providing
mobile data solutions. In the current year, the Saratoga Group acquired World Wide
Creative (Pty) Ltd, a digital marketing agency to expand its operations into a new
sector.

Health System Technologies (HST") is a leading provider of Hospital Information and
Laboratory Information Systems for the South African public sector and continues to
show excellent results with revenue increasing by 12% due to the successful
implementation of its IT contracts and projects over the past three years.

HST partnered with AME International through AmetHst (Pty) Ltd (AmetHst"), which won
the Gauteng Department of Healths HIS contract which entails implementing systems in
over 60 Gauteng hospitals and clinics.

As previously reported, the contract entered into between AmetHst as part of the Baoki
Consortium and the Gauteng Department of Health for the implementation of the hospital
information systems(HIS") has been cancelled by the Baoki Consortium. This action was
taken as a result of a non-delivery by the Gauteng Department of Health on their
contractual obligations. The arbitration for this legal claim is ongoing.

Laboratory System Technology ("LST"), a former supplier to HST, had made a claim against
the company that it had infringed LST's copyright by copying the LST code, to produce
web based software. HST pursued negotiations on the basis of LST's original claim and
the matter was settled out of court on 27 May 2013 by both parties.

Marine

Premier Fishing SA (Pty) Ltd (Premier Fishing") is the largest black owned and
controlled fishing company in South Africa and the most transformed in terms of its
management and employees.

The major product lines for Premier Fishing are south coast rock lobster, west coast
rock lobster, squid, abalone and pelagic.

Premier Fishing performed well with good catch rates in the lobster sector and obtained
favourable market pricing.

Operating profit of R24m (2012:R16m) was achieved for this division, a 50% increase
from the prior year. The above mentioned factors along with the effects of the weakened
rand were the major reasons for the good performance.

The south coast rock lobsters division revenue was affected by 16% of the quota which
was not caught at year end due to poor weather conditions. The balance of the 2013 quota
was caught in the first quarter of 2014. Good catch mix enabled a good performance from
this division.

The west coast rock lobster division performed considerably well taking into account the
extra sale volumes achieved in the current year.

The pelagic sector did not fare well in the 2013 season due to poor catch rates of
anchovy fish. This division landed most of their pilchard quota and only a portion of
their anchovy quota.

The squid industry faced another tough year in terms of landing volumes, however,
management achieved a small profit in this division.

Marine Growers (Pty) Ltd, a subsidiary of Premier Fishing, delivered good revenues with
additional volumes sold to the Far East. The abalone farm continues to perform well
despite the tough economic climate.

Premier Fishing received a summons from the Competition Commission pursuant to the
Commission's investigation into the pelagic fishing industry which has been ongoing
since July 2008. Premier Fishing's attorneys have undertaken an extensive investigation
to settle the matter. The settlement terms are currently being negotiated. A provision
for the expected penalty has been accounted for.

Healthcare

The pharmaceutical operation in Health Care has produced an operational loss of R8m due
to revenues generated being below expectations.

The product offerings in the natural disinfectant and sanitiser sector is growing well
and good traction is being achieved in this operation.

Biotechnology

Genius Biotherapeutics ("Genius"), formerly known as Bioclones (Pty) Ltd, is South Africa
and Africas largest medical biotechnology company with strategic interests in
biogenerics and novel compounds.

Genius also holds global patents for personalised medicine and vaccines. Genius
Biotherapeutics novel technology is in advanced stages with the next stage of
development proceeding well towards pre-clinical trials. The company has partnered with
the University of Cape Town ("UCT") Department of Medicine, UCT Lung Institute and
Pulmonology and Immunity unit to develop the therapeutic vaccine against cancer.

Management continues with its plans to upgrade the manufacturing facility to prepare for
improved production to increase efficiency at the facility in Centurion.

During the year, the scientific team at the Cape Town facility continued with their
efforts to replicate the protocol for the granulocyte-colony stimulating factor (G-CSF)
technology.

Media

The Sekunjalo Media ("Sekmedia") division incurred a loss due to the cancellation and
postponement of certain new events. Sekmedia owns the rights of and manages the
Cape Town International Jazz Festival. The Cape Town International Jazz Festival
continues to bear fruit and contributes greatly to the gross domestic product of the
Western Cape and national economy.


Basis of preparation

The condensed consolidated financial information has been prepared in accordance with
IAS 34 - Interim financial reporting and is based on the audited financial statements
of the Group for the year ended 31 August 2013, which have been prepared in accordance
with International Financial Reporting Standards ("IFRS"), the SAICA financial reporting
guides issued by the Accounting Practices Committee, the Listings Requirements of the
JSE Limited, and the current Companies Act of South Africa. The condensed financial
statements have been audited by the Groups independent auditors, PKF (Cpt) Inc., whose
report is available for inspection at the registered office of the Company.

The audited financial results for the year ended 31 August 2013 have been prepared in
accordance with the Group accounting policies and are consistent with those applied in
the previous financial year. The annual financial statements were prepared by Natasha
September, Financial Controller, BCom (Hons), CA(SA).

Events after the reporting date

The directors are not aware of any events post reporting date that materially affects
the Group.


Future prospects

The core operational investments in our technology and fishing sectors have shown
excellent growth during the current year in line with our strategy. The Group has built
a strong platform for further growth over the next few years.

As we have built on our financial successes over the past few years, we believe that
Sekunjalo is well positioned to further enhance its earnings and is well set to
bolster its net asset value growth through organic growth, acquisitions and strategic
initiatives.

Any reference to future financial performance included in this announcement has not been
reviewed or reported on by the Group's auditors.

Dividends

No dividends have been declared for the current period. The Board continues to work
towards payment of dividends in the foreseeable future and believes that the Group
strategy will deliver significant returns on investments.

Appreciation

We would like to thank the Sekunjalo board of Directors for their continued wise
stewardship, the strategic guidance and commitment in ensuring the continued success of
the Sekunjalo Group.

In addition, we would also like to express our sincere gratitude and appreciation to all
our executives, our team of highly talented employees and strategic partners for their
passion, loyalty and dedication for their efforts and who continue to contribute to the
success of Sekunjalo.

Furthermore, I would like to welcome our two non-executive directors, Mrs Aziza Amod
who joined the board on 14 November 2012 and Mr Takudzwa Hove who joined the board on
5 September 2013.


MI Surve K Abdulla
Executive chairman Chief executive officer

5 November 2013

Directors

*Dr M Iqbal Surve (Executive Chairman); *Khalid Abdulla; Prof Vukile Mehana,
Johannes Mihe Gaomab; Salim Young; *Cherie Felicity Hendricks; *Chantelle Ah Sing;
Aziza Amod and Takudzwa Hove

*Executive Directors

Company secretary: Cherie Felicity Hendricks

Registered Address: Quay 7, East Pier, Victoria and Alfred Waterfront, Cape Town, 8001

Email: cherieh@sekunjalo.com

Transfer secretaries: Link Market Services South Africa (Pty) Ltd,
Rennie House, 13th Floor, 19 Ameshoff Street, Braamfontein, 2001

Auditors: PKF (Cpt) Inc, Cape Town

Sponsor: PSG Capital (Pty) Ltd, Stellenbosch

Date: 05/11/2013 10:49:00
Supplied by www.sharenet.co.za
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.

31/10/2013 Sekunjalo Investments Limited - Trading Statement

Trading Statement

Sekunjalo Investments Limited
(Incorporated in the Republic of South Africa)
(Registration number 1996/006093/06)
Share code: SKJ & ISIN: ZAE000017893
("Sekunjalo" or "the Company" or “the Group”)

TRADING STATEMENT

In terms of the Listings Requirements of the JSE Limited, a
listed company is required to publish a trading statement as
soon as it is satisfied that a reasonable degree of certainty
exists that its financial results for the next reporting will
differ by 20% or more from those of the corresponding
reporting period of the previous year. Sekunjalo shareholders
are hereby advised that it is expected that the Group’s
headline earnings per share and basic earnings per share for
the year ended 31 August 2013 will be between 5.66 cents to
6.41 cents and 5.64 cents to 6.37 cents per share
respectively.

The abovementioned financial information on which this trading
statement is based has not been fully reviewed and reported on
by the Company’s auditors. The annual financial results of
Sekunjalo will be released on SENS on or about 4 November
2013.

Cape Town
31 October 2013

Sponsor
PSG Capital

Date: 31/10/2013 09:45:00
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