Announcement • Sep 22
Capricorn Group Limited, Annual General Meeting, Nov 05, 2025 Capricorn Group Limited, Annual General Meeting, Nov 05, 2025. Location: the boardroom on the sixth floor, capricorn group building, kasino street, windhoek Namibia Announcement • Nov 22
Capricorn Group Limited Appoints Johan Maass as Executive Director Capricorn Group announced the appointment of Mr. Johan Maass as an executive director of Capricorn Group in the role of Group Financial Director, effective 22 November 2024. Regulatory approval for his appointment has been obtained. Mr. Maass was the Group Chief Financial Officer (Group CFO) of Capricorn Group since 1 July 2022. The Board would like to congratulate Mr. Maass on his appointment and wish him all the best in his new role. Announcement • Oct 07
Capricorn Group Limited, Annual General Meeting, Oct 30, 2024 Capricorn Group Limited, Annual General Meeting, Oct 30, 2024. Location: the boardroom on the sixth floor, capricorn group building, kasino street, windhoek Namibia Recent Insider Transactions Derivative • Sep 20
Non-Executive Director exercised options to buy R1.7m worth of stock. On the 17th of September, Marthinus Prinsloo exercised options to buy 85k shares at a strike price of around R19.42, costing a total of R1.7m. This transaction amounted to 3.5% of their direct individual holding at the time of the trade. Since June 2024, Marthinus' direct individual holding has increased from 2.42m shares to 2.51m. Company insiders have collectively bought R360k more than they sold, via options and on-market transactions, in the last 12 months. Declared Dividend • Sep 15
Final dividend of N$0.64 announced Shareholders will receive a dividend of N$0.64. Ex-date: 30th September 2024 Payment date: 18th October 2024 Dividend yield will be 5.7%, which is higher than the industry average of 4.8%. Sustainability & Growth The dividend has increased by an average of 9.0% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 12% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Sep 14
Full year 2024 earnings released: EPS: N$3.20 (vs N$2.70 in FY 2023) Full year 2024 results: EPS: N$3.20 (up from N$2.70 in FY 2023). Revenue: N$4.90b (up 12% from FY 2023). Net income: N$1.62b (up 18% from FY 2023). Profit margin: 33% (up from 31% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Announcement • Sep 12
Capricorn Group Limited Declares Final Dividend for the Year Ended 30 June 2024, Payable on 18 October 2024 Capricorn Group Limited declared a final dividend of 64 cents per ordinary share. Including the interim dividend of 48 cents per ordinary share, this represents a total dividend of 112 cents per ordinary share (2023: 100 cents). This is a 12.0% increase on the total dividend per share for 2023. The Group continues to balance offering attractive returns for shareholders with retaining capital to drive growth and diversification. Last day to trade cum dividend is 27 September 2024. First day to trade ex-dividend is 30 September 2024. Record date is 4 October 2024 and Payment date is 18 October 2024. Announcement • Aug 28
Capricorn Group Limited to Report Fiscal Year 2024 Results on Sep 12, 2024 Capricorn Group Limited announced that they will report fiscal year 2024 results on Sep 12, 2024 Recent Insider Transactions • Jul 02
Non-Executive Director recently sold R1.3m worth of stock On the 28th of June, Marthinus Prinsloo sold around 67k shares on-market at roughly R19.30 per share. This transaction amounted to 2.7% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Announcement • Mar 16
Capricorn Group Limited Announces Board Changes Capricorn Group announced the appointment of Mr. David Nuyoma as a non-executive director of Bank Windhoek Limited ("Bank Windhoek") with effect from 13 March 2024. Regulatory approval for his appointment has been obtained. On the same date, Mr. Thinus Prinsloo retired from the board of Bank Windhoek. As recently announced, Mr. Nuyoma was appointed as Group CEO and executive director of Capricorn Group with effect from 1 March 2024, while Mr. Prinsloo's role on the board of Capricorn Group changed to that of a non-executive director. Upcoming Dividend • Mar 08
Upcoming dividend of N$0.48 per share Eligible shareholders must have bought the stock before 15 March 2024. Payment date: 05 April 2024. Payout ratio is a comfortable 39% but the company is paying out more than the cash it is generating. Trailing yield: 5.6%. Lower than top quartile of Namibian dividend payers (11%). In line with average of industry peers (5.4%). Declared Dividend • Mar 04
First half dividend of N$0.48 announced Shareholders will receive a dividend of N$0.48. Ex-date: 15th March 2024 Payment date: 5th April 2024 Dividend yield will be 6.3%, which is higher than the industry average of 4.8%. Sustainability & Growth The dividend has increased by an average of 8.1% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 9.1% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Feb 08
Capricorn Group Limited Announces Changes to the Board Capricorn Group Limited announced the retirement of Mr. Jacobus Christiaan (Koos) Brandt as non-executive director from the board of directors effective 2 February 2024. Mr. Koos Brandt, one of the founders of Capricorn Group, served on the board since the company's establishment in 1996 and was its chairperson until 2017. He continues to serve as a non-executive director on the board of Bank Windhoek Limited, a wholly owned subsidiary of Capricorn Group. Capricorn Group announced the appointment of Mr. Jacobus Wynand (Cobus) Brandt as non-executive director, effective 2 February 2024, in line with the board succession plan. Mr. Cobus Brandt has been the alternate non-executive director of Mr. Koos Brandt since 2016 and a non-executive director of Capricorn Investment Holdings Ltd. (CIH) since 2018. He holds a Bachelor of Commerce with specialisation in Management Accounting from the University of South Africa and has substantial experience in the financial and agricultural sectors. Announcement • Nov 17
Capricorn Group Limited Appoints David Nuyoma as the Group CEO The Capricorn Group Board has approved the appointment of Mr. David Nuyoma as the Group CEO Designate with effect from 1 January 2024, and as substantive Group CEO with effect from 1 March 2024, subject to regulatory approval. Mr. Nuyoma is an experienced and accomplished executive leader with a successful track record as CEO of the Government Institutions Pension Fund until recently and before that as CEO of the Development Bank of Namibia. As part of the process for a smooth leadership transition, Mr. Prinsloo has agreed to remain in his current position as Group CEO until 29 February 2024, during which time he will hand over responsibilities to Mr. Nuyoma. Announcement • Oct 06
Capricorn Group Limited, Annual General Meeting, Oct 25, 2023 Capricorn Group Limited, Annual General Meeting, Oct 25, 2023. Upcoming Dividend • Sep 25
Upcoming dividend of N$0.61 per share at 6.1% yield Eligible shareholders must have bought the stock before 02 October 2023. Payment date: 20 October 2023. Payout ratio is a comfortable 37% but the company is not cash flow positive. Trailing yield: 6.1%. Lower than top quartile of Namibian dividend payers (12%). In line with average of industry peers (5.7%). Reported Earnings • Sep 17
Full year 2023 earnings released: EPS: N$2.70 (vs N$2.05 in FY 2022) Full year 2023 results: EPS: N$2.70 (up from N$2.05 in FY 2022). Revenue: N$4.37b (up 20% from FY 2022). Net income: N$1.37b (up 31% from FY 2022). Profit margin: 31% (up from 29% in FY 2022). The increase in margin was driven by higher revenue. Cost-to-income ratio: 50.8% (down from 51.1% in FY 2022). Non-performing loans: 4.48% (down from 4.75% in FY 2022). Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Announcement • Aug 19
Capricorn Group Limited Provides Earnings Guidance for the Year Ended 30 June 2023 Capricorn Group Limited announced that shareholders are advised that Capricorn Group's profit after tax for the year ended 30 June 2023 is expected to increase by between 24% and 34% over the prior period, while basic earnings per share are expected to increase by between 27% and 37% and headline earnings per share by between 30% and 40% when compared to the prior period. The improved performance is driven by increased net interest income attributable to significantly increased repo rates, loan book growth and prudent cost of funding management during the financial year. Impairment charges are expected to be materially lower than the prior period as a result of pro-active approach to credit risk management coupled with an ease in economic uncertainty when compared to the prior financial year. Upcoming Dividend • Mar 06
Upcoming dividend of N$0.39 per share at 5.7% yield Eligible shareholders must have bought the stock before 13 March 2023. Payment date: 30 March 2023. Payout ratio is a comfortable 35% but the company is not cash flow positive. Trailing yield: 5.7%. Lower than top quartile of Namibian dividend payers (13%). In line with average of industry peers (5.3%). Upcoming Dividend • Oct 03
Upcoming dividend of N$0.40 per share Eligible shareholders must have bought the stock before 10 October 2022. Payment date: 26 October 2022. Payout ratio is a comfortable 35% but the company is not cash flow positive. Trailing yield: 6.3%. Lower than top quartile of Namibian dividend payers (10%). In line with average of industry peers (6.2%). Reported Earnings • Sep 22
Full year 2022 earnings released Full year 2022 results: Revenue: N$3.64b (up 11% from FY 2021). Net income: N$1.15b (up 25% from FY 2021). Profit margin: 32% (up from 28% in FY 2021). The increase in margin was driven by higher revenue. Recent Insider Transactions Derivative • Sep 21
Group CEO & Executive Director exercised options to buy R612k worth of stock. On the 14th of September, Marthinus Prinsloo exercised options to buy 57k shares at a strike price of around R10.77, costing a total of R616k. This transaction amounted to 2.4% of their direct individual holding at the time of the trade. Marthinus currently holds less than 1% of total shares outstanding. This was the only transaction from an insider over the last 12 months. Valuation Update With 7 Day Price Move • Sep 14
Investor sentiment improved over the past week After last week's 21% share price gain to R13.00, the stock trades at a trailing P/E ratio of 6.5x. Average trailing P/E is 6x in the Banks industry in Africa. Total loss to shareholders of 9.7% over the past three years. Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment deteriorated over the past week After last week's 17% share price decline to R11.01, the stock trades at a trailing P/E ratio of 5.5x. Average trailing P/E is 6x in the Banks industry in Africa. Total loss to shareholders of 22% over the past three years. Announcement • Jun 28
Capricorn Group Limited Appoints Johan Maass as Chief Financial Officer, Effect from 1 July 2022 Capricorn Group Limited informed shareholders that the recruitment process for Group Chief Financial Officer has been successfully concluded and that all the required regulatory approvals have been obtained. With effect from 1 July 2022, Johan Maass, the current Group Financial Manager, will be appointed in the role of Group Chief Financial Officer. Johan is a Chartered Accountant by profession, with a B.Com Hons in Chartered Accountancy. He started his career in 2010 at PwC Namibia and was promoted to Senior Audit Manager in 2015, a position he held until joining Capricorn Group on 1 April 2018. During 2019, he completed the Group's Senior Management Development Programme presented by the University of Stellenbosch. Since joining the Capricorn Group, Johan reported to the previous Financial Director. Johan has led the Group's financial reporting for the last 3 years, including playing an integral role in the production of the integrated report. The financial director role will not be filled at this point in time. Upcoming Dividend • Mar 07
Upcoming dividend of N$0.32 per share Eligible shareholders must have bought the stock before 14 March 2022. Payment date: 30 March 2022. Payout ratio is a comfortable 34% but the company is not cash flow positive. Trailing yield: 4.6%. Lower than top quartile of Namibian dividend payers (9.7%). Higher than average of industry peers (4.0%). Announcement • Feb 26
Capricorn Group Limited Announces Interim Dividend for the Period Ended December 31, 2021, Payable on March 30, 2022 Capricorn Group Limited announced on 23 February 2022 an interim dividend of 32 cents per ordinary share was declared for the period ended 31 December 2021, payable on 30 March 2022. The last day to trade shares on a cum dividend basis is on 11 March 2022, the first day to trade ex dividend is 14 March 2022 and the record date is 18 March 2022. The interim dividend has not been recognised as a liability in the condensed consolidated interim financial statements. Valuation Update With 7 Day Price Move • Feb 25
Investor sentiment improved over the past week After last week's 16% share price gain to R12.87, the stock trades at a trailing P/E ratio of 7.2x. Average forward P/E is 5x in the Banks industry in Africa. Total loss to shareholders of 7.5% over the past three years. Upcoming Dividend • Sep 28
Upcoming dividend of N$0.38 per share Eligible shareholders must have bought the stock before 04 October 2021. Payment date: 22 October 2021. Trailing yield: 3.9%. Lower than top quartile of Namibian dividend payers (7.6%). In line with average of industry peers (4.1%). Valuation Update With 7 Day Price Move • Mar 05
Investor sentiment improved over the past week After last week's 26% share price gain to N$12.80, the stock is trading at a trailing P/E ratio of 8.3x, up from the previous P/E ratio of 6.5x. This compares to an average P/E of 6x in the Banks industry in Africa. Total return to shareholders over the past three years is a loss of 22%. Valuation Update With 7 Day Price Move • Feb 10
Investor sentiment deteriorated over the past week After last week's 23% share price decline to N$10.00, the stock is trading at a trailing P/E ratio of 5.6x, down from the previous P/E ratio of 7.2x. This compares to an average P/E of 6x in the Banks industry in Africa. Total return to shareholders over the past three years is a loss of 38%. Is New 90 Day High Low • Feb 05
New 90-day low: R12.83 The company is down 1.0% from its price of R12.99 on 06 November 2020. The Namibian market is down 2.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Banks industry, which is up 11% over the same period. Is New 90 Day High Low • Dec 17
New 90-day low: R12.97 The company is down 1.0% from its price of R13.05 on 18 September 2020. The Namibian market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Banks industry, which is up 17% over the same period. 
