Reported Earnings • Jun 11
Full year 2026 earnings released: EPS: R0.14 (vs R0.18 in FY 2025) Full year 2026 results: EPS: R0.14 (down from R0.18 in FY 2025). Revenue: R1.17b (down 6.8% from FY 2025). Net income: R165.0m (down 20% from FY 2025). Profit margin: 14% (down from 17% in FY 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Apr 21
Araxi Limited to Report Fiscal Year 2026 Results on Jun 09, 2026 Araxi Limited announced that they will report fiscal year 2026 results at 9:00 AM, South Africa Standard Time on Jun 09, 2026 Recent Insider Transactions • Mar 11
Board Member recently sold R1.2m worth of stock On the 6th of March, Michael Shapiro sold around 645k shares on-market at roughly R1.81 per share. This transaction amounted to 2.4% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of R3.0m more than they bought in the last 12 months. Upcoming Dividend • Dec 24
Upcoming dividend of R0.045 per share Eligible shareholders must have bought the stock before 30 December 2025. Payment date: 05 January 2026. Payout ratio is a comfortable 65% and this is well supported by cash flows. Trailing yield: 6.5%. Lower than top quartile of South African dividend payers (7.5%). Higher than average of industry peers (4.6%). Declared Dividend • Dec 04
Final dividend of R0.045 announced Shareholders will receive a dividend of R0.045. Ex-date: 30th December 2025 Payment date: 5th January 2026 Dividend yield will be 6.9%, which is higher than the industry average of 5.0%. Sustainability & Growth Dividend is covered by earnings (68% earnings payout ratio) but not covered by cash flows (128% cash payout ratio). The dividend has increased by an average of 15% per year over the past 8 years. However, payments have been volatile during that time. Earnings per share has grown by 9.5% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Aug 01
Capital Appreciation Limited, Annual General Meeting, Sep 03, 2025 Capital Appreciation Limited, Annual General Meeting, Sep 03, 2025. Announcement • Jul 31
Capital Appreciation Limited to Report First Half, 2026 Results on Dec 02, 2025 Capital Appreciation Limited announced that they will report first half, 2026 results on Dec 02, 2025 Recent Insider Transactions • Jul 30
Board Member recently sold R1.8m worth of stock On the 28th of July, Michael Shapiro sold around 993k shares on-market at roughly R1.80 per share. This transaction amounted to 3.7% 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. Recent Insider Transactions Derivative • Jul 04
Managing Director of African Resonance exercised options to buy R525k worth of stock. On the 30th of June, Donn Engelbrecht exercised options to buy 305k shares at a strike price of around R1.79, costing a total of R546k. This transaction amounted to 34% of their direct individual holding at the time of the trade. Since March 2025, Donn has owned 893.30k shares directly. Company insiders have collectively bought R21m more than they sold, via options and on-market transactions, in the last 12 months. Announcement • Jun 26
Capital Appreciation Limited Announces Final Dividend for the Year Ended 31 March 2025, Payable on 14 July 2025 The Board of Capital Appreciation Limited has pleasure in announcing that a final dividend of 7.50 cents (2024: 5.75 cents) per ordinary share has been declared, bringing the total dividend for the year ended 31 March 2025 to 12.00 cents per ordinary share (2024: 10.00 cents per ordinary share). Last day to trade cum dividend: Tuesday, 8 July 2025. Shares commence trading ex-dividend is 9 July 2025. Dividend record date is 11 July 2025. Dividend payment date is 14 July 2025. Declared Dividend • Jun 26
Final dividend of R0.075 announced Shareholders will receive a dividend of R0.075. Ex-date: 9th July 2025 Payment date: 14th July 2025 Dividend yield will be 7.3%, which is higher than the industry average of 5.0%. Sustainability & Growth Dividend is covered by earnings (2% earnings payout ratio) but not adequately covered by cash flows (97% cash payout ratio). The dividend has increased by an average of 9.9% per year over the past 8 years. However, payments have been volatile during that time. Earnings per share has grown by 8.1% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Reported Earnings • Jun 25
Full year 2025 earnings released: EPS: R0.18 (vs R0.14 in FY 2024) Full year 2025 results: EPS: R0.18 (up from R0.14 in FY 2024). Revenue: R1.25b (up 5.8% from FY 2024). Net income: R207.1m (up 21% from FY 2024). Profit margin: 17% (up from 14% in FY 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • May 31
Capital Appreciation Limited Provides Earnings Guidance for the Year Ended March 31, 2025 Capital Appreciation Limited provided earnings guidance for the year ended March 31, 2025. for the year, the Group's Basic Earnings Per Share is expected to be at least 20% (2.73 cents) higher than the EPS of 13.59 cents for the year ended 31 March 2024. New Risk • May 18
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported September 2024 fiscal period end). Dividend is not well covered by cash flows (198% cash payout ratio). Market cap is less than US$100m (R1.71b market cap, or US$94.6m). Upcoming Dividend • Dec 24
Upcoming dividend of R0.045 per share Eligible shareholders must have bought the stock before 31 December 2024. Payment date: 06 January 2025. Payout ratio is a comfortable 65% but the company is paying out more than the cash it is generating. Trailing yield: 5.7%. Lower than top quartile of South African dividend payers (7.8%). Higher than average of industry peers (4.9%). New Risk • Dec 18
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: R1.81b (US$99.9m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (198% cash payout ratio). Market cap is less than US$100m (R1.81b market cap, or US$99.9m). Recent Insider Transactions Derivative • Dec 17
CFO & Executive Director exercised options to buy R5.5m worth of stock. On the 13th of December, Alan Salomon exercised options to buy 4m shares at a strike price of around R1.71, costing a total of R6.1m. This transaction amounted to 6.1% of their direct individual holding at the time of the trade. Since March 2024, Alan has owned 58.94m shares directly. Company insiders have collectively bought R27m more than they sold, via options and on-market transactions, in the last 12 months. Declared Dividend • Dec 05
First half dividend of R0.045 announced Shareholders will receive a dividend of R0.045. Ex-date: 31st December 2024 Payment date: 6th January 2025 Dividend yield will be 5.9%, which is higher than the industry average of 5.0%. Sustainability & Growth Dividend is covered by earnings (65% earnings payout ratio) but not covered by cash flows (192% cash payout ratio). The dividend has increased by an average of 11% per year over the past 7 years and payments have been stable during that time. Earnings per share has grown by 10% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Sep 18
Capital Appreciation Limited to Report First Half, 2025 Results on Dec 03, 2024 Capital Appreciation Limited announced that they will report first half, 2025 results on Dec 03, 2024 Announcement • Jul 17
Capital Appreciation Limited, Annual General Meeting, Sep 04, 2024 Capital Appreciation Limited, Annual General Meeting, Sep 04, 2024. Upcoming Dividend • Jun 19
Upcoming dividend of R0.058 per share Eligible shareholders must have bought the stock before 26 June 2024. Payment date: 01 July 2024. Payout ratio is a comfortable 61% and this is well supported by cash flows. Trailing yield: 6.8%. Lower than top quartile of South African dividend payers (9.1%). Higher than average of industry peers (5.1%). Announcement • Jun 14
Capital Appreciation Limited Appoints Amanda Dambuza as Member of the Social and Ethics Committee and Investment Committee The Board of Capital Appreciation Limited announced that Ms. Amanda Dambuza has been appointed as a member of the Social and Ethics Committee and Investment Committee with effect from 12 June 2024. The Board, with assistance from the Nominations Committee, has continued to ensure that the skills, experience, composition and size of the Board and its committees remains relevant to the guidance required for the implementation of the company's strategy and identified growth opportunities. Declared Dividend • Jun 07
Final dividend increased to R0.058 Dividend of R0.058 is 44% higher than last year. Ex-date: 26th June 2024 Payment date: 1st July 2024 Dividend yield will be 8.5%, which is higher than the industry average of 5.0%. Sustainability & Growth The dividend has increased by an average of 11% per year over the past 7 years and payments have been stable during that time. New Risk • Jun 06
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 0% Cash payout ratio: 103% Dividend yield: 7.0% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Dividend is not well covered by earnings and cash flows. Payout ratio: 0% Cash payout ratio: 103% Minor Risks Shareholders have been diluted in the past year (2.0% increase in shares outstanding). Market cap is less than US$100m (R1.48b market cap, or US$78.3m). Reported Earnings • Jun 06
Full year 2024 earnings released: EPS: R0.14 (vs R0.074 in FY 2023) Full year 2024 results: EPS: R0.14 (up from R0.074 in FY 2023). Revenue: R1.18b (up 19% from FY 2023). Net income: R170.8m (up 88% from FY 2023). Profit margin: 14% (up from 9.1% in FY 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has increased by 1% per year. Announcement • Jun 06
Capital Appreciation Limited Announces Final Cash Dividend for the Year Ended 31 March 2024, Payable on 1 July 2024 The Board of Capital Appreciation Limited announced that a final dividend of 5.75 cents per ordinary share has been declared for the period ended 31 March 2024 (2023: 4.00 cents per ordinary share), bringing the total dividend for the year to 10.00 cents per ordinary share (2023: 8.25 cents per ordinary share) an increase of 21%. Shares commence trading ex-dividend is 26 June 2024. Dividend record date is 28 June 2024. Dividend payment date is 1 July 2024. Announcement • Mar 26
Capital Appreciation Limited to Report Fiscal Year 2024 Results on Jun 04, 2024 Capital Appreciation Limited announced that they will report fiscal year 2024 results on Jun 04, 2024 New Risk • Feb 06
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of South African stocks, typically moving 10% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (10% average weekly change). Earnings have declined by 2.8% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (2.8% increase in shares outstanding). Market cap is less than US$100m (R1.56b market cap, or US$82.2m). Board Change • Jan 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 4 experienced directors. 5 highly experienced directors. Non-Executive Director Amanda S. Dambuza was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Dec 27
Upcoming dividend of R0.043 per share at 6.4% yield Eligible shareholders must have bought the stock before 03 January 2024. Payment date: 08 January 2024. Payout ratio and cash payout ratio are on the higher end at 77% and 75% respectively. Trailing yield: 6.4%. Lower than top quartile of South African dividend payers (8.9%). Higher than average of industry peers (4.8%). Reported Earnings • Dec 13
First half 2024 earnings released: EPS: R0.065 (vs R0.031 in 1H 2023) First half 2024 results: EPS: R0.065 (up from R0.031 in 1H 2023). Revenue: R554.2m (up 3.0% from 1H 2023). Net income: R80.5m (up 110% from 1H 2023). Profit margin: 14% (up from 7.1% in 1H 2023). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Nov 28
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to R1.28, the stock trades at a trailing P/E ratio of 17.4x. Average trailing P/E is 12x in the Diversified Financial industry in South Africa. Total returns to shareholders of 43% over the past three years. New Risk • Nov 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of South African stocks, typically moving 8.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 112% Cash payout ratio: 110% Earnings have declined by 2.6% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.5% average weekly change). Profit margins are more than 30% lower than last year (9.1% net profit margin). Market cap is less than US$100m (R1.59b market cap, or US$84.5m). Announcement • Nov 15
Capital Appreciation Limited Provides Earnings Guidance for the Six Months Ended 30 September 2023 Capital Appreciation Limited provided earnings guidance for the six months ended 30 September 2023. For the six months, the company expects basic earnings per share to be in the range of 6.42 cents to 6.54 cents. Announcement • Oct 12
Capital Appreciation Limited Announces Retirement of Charles Valkin as Non-Executive Director, Effective 31 October 2023 Capital Appreciation Limited announced that Mr. Charles Valkin, will retire as a Non-Executive Director of the Company, with effect from 31 October 2023. Charles has been a Non-Executive Director from the date of the Company's listing on 16 October 2015. Valuation Update With 7 Day Price Move • Sep 21
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to R1.15, the stock trades at a trailing P/E ratio of 15.6x. Average forward P/E is 8x in the Diversified Financial industry in South Africa. Total returns to shareholders of 42% over the past three years. Recent Insider Transactions • Aug 06
MD of Synthesis recently sold R2.4m worth of stock On the 2nd of August, Michael Shapiro sold around 2m shares on-market at roughly R1.47 per share. This transaction amounted to 5.6% 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 • Jul 23
Capital Appreciation Limited to Report First Half, 2024 Results on Dec 04, 2023 Capital Appreciation Limited announced that they will report first half, 2024 results on Dec 04, 2023 Recent Insider Transactions Derivative • Jul 16
CFO & Executive Director exercised options to buy R6.1m worth of stock. On the 11th of July, Alan Salomon exercised options to buy 4m shares at a strike price of around R1.50, costing a total of R6.2m. This transaction amounted to 7.2% of their direct individual holding at the time of the trade. Since March 2023, Alan has owned 57.06m shares directly. Company insiders have collectively bought R15m more than they sold, via options and on-market transactions, in the last 12 months. Upcoming Dividend • Jun 21
Upcoming dividend of R0.04 per share at 5.4% yield Eligible shareholders must have bought the stock before 28 June 2023. Payment date: 03 July 2023. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 5.4%. Lower than top quartile of South African dividend payers (9.3%). Higher than average of industry peers (4.7%). Announcement • Jun 07
Capital Appreciation Limited Announces Cash Dividend for the Year Ended 31 March 2023. Payable on 3 July 2023 The Board of Capital Appreciation Limited announced that a final dividend of 4.00 cents per ordinary share has been declared for the year ended 31 March 2023 (2022: 3.75 cents per ordinary share), bringing the total dividend to 8.25 cents per ordinary share (2022: 7.50 cents per ordinary share). Dividend record date; 30 June 2023; Dividend payment date: 3 July 2023; Shares commence trading ex-dividend: 28 June 2023. Reported Earnings • Jun 06
Full year 2023 earnings released Full year 2023 results: Revenue: R995.1m (up 20% from FY 2022). Net income: R91.0m (down 44% from FY 2022). Profit margin: 9.1% (down from 20% in FY 2022). The decrease in margin was driven by higher expenses. Announcement • Jun 01
Capital Appreciation Limited Provides Earnings Guidance for the Year Ended March 31, 2023 Capital Appreciation Limited provided earnings guidance for the year ended March 31, 2023. Shareholders are further advised that, while Group Revenue for the year ended 31 March 2023 has shown strong growth, exceeding 19%, the Group has incurred and expensed substantial budgeted costs in growth and new business initiatives while the economic benefits of such costs will only accrue in the 2024 financial year and future years. As a result, the Group's Headline Earnings Per Share ("HEPS") for the year ended 31 March 2023 are not materially affected by the non-cash expected credit loss provision and will be between 2.0% and 1.0% lower than than the prior year and will be between 13.13 cents and 13.27 cents, when compared to the reported HEPS of 13.40 cents for the reporting period ended 31 March 2022. The Group's basic Earnings Per Share ("EPS") for the year ended 31 March 2023 will be lower than the corresponding period by between 45.5% and 44.0% and will be between 7.29 cents and 7.49 cents, when compared to the reported EPS of 13.37 cents for the reporting period ended 31 March 2022. Buying Opportunity • Mar 07
Now 24% undervalued Over the last 90 days, the stock is up 2.9%. The fair value is estimated to be R1.90, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 6.0%. Valuation Update With 7 Day Price Move • Mar 02
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to R1.67, the stock trades at a trailing P/E ratio of 18.7x. Average forward P/E is 20x in the IT industry in South Africa. Total returns to shareholders of 178% over the past three years. Buying Opportunity • Feb 20
Now 24% undervalued Over the last 90 days, the stock is up 8.9%. The fair value is estimated to be R1.92, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 6.0%. Announcement • Feb 15
Capital Appreciation Limited Announces Retirement of Michael (Motty) Sacks as Non-Executive Chairman and Member of Board Committees, Effective 28 February 2023 The Board of Capital Appreciation Limited announced that Mr. Michael (Motty) Sacks, will retire as Non-Executive Chairman of the Company, with effect from 28 February 2023. Motty, a co-founder of the Company has served in the capacity of Non-Executive Chairman since the Company's listing on 16 October 2015. Motty will also retire as a member of the Board Committees, on which he presently serves. The Board will immediately commence with the process of appointing a successor Chairman and a further announcement will be made in due course. Buying Opportunity • Feb 02
Now 25% undervalued Over the last 90 days, the stock is up 7.4%. The fair value is estimated to be R1.92, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 6.0%. Upcoming Dividend • Dec 14
Upcoming dividend of R0.043 per share Eligible shareholders must have bought the stock before 21 December 2022. Payment date: 28 December 2022. Payout ratio is on the higher end at 89%, however this is supported by cash flows. Trailing yield: 6.0%. Lower than top quartile of South African dividend payers (8.7%). Lower than average of industry peers (8.7%). Reported Earnings • Nov 30
First half 2023 earnings released First half 2023 results: Revenue: R538.1m (up 23% from 1H 2022). Net income: R38.3m (down 58% from 1H 2022). Profit margin: 7.1% (down from 21% in 1H 2022). The decrease in margin was driven by higher expenses. Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 10 experienced directors. No highly experienced directors. Non-Independent Non-Executive Director Roxy Maqache was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Sep 07
Capital Appreciation Limited, Annual General Meeting, Sep 07, 2022 Capital Appreciation Limited, Annual General Meeting, Sep 07, 2022, at 14:00 South Africa Standard Time. Announcement • Aug 23
Capital Appreciation Limited to Report First Half, 2023 Results on Nov 30, 2022 Capital Appreciation Limited announced that they will report first half, 2023 results on Nov 30, 2022 Board Change • Jul 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 11 experienced directors. No highly experienced directors. Non-Executive Director Roxy Maqache was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jun 03
Full year 2022 earnings released Full year 2022 results: Revenue: R831.0m (up 34% from FY 2021). Net income: R163.2m (up 30% from FY 2021). Profit margin: 20% (in line with FY 2021). Announcement • Mar 29
Capital Appreciation Limited to Report Fiscal Year 2022 Results on May 31, 2022 Capital Appreciation Limited announced that they will report fiscal year 2022 results on May 31, 2022 Upcoming Dividend • Dec 15
Upcoming dividend of R0.037 per share Eligible shareholders must have bought the stock before 22 December 2021. Payment date: 28 December 2021. Payout ratio is a comfortable 51% and the cash payout ratio is 79%. Trailing yield: 4.4%. Lower than top quartile of South African dividend payers (7.5%). Lower than average of industry peers (6.9%). Reported Earnings • Dec 03
First half 2022 earnings: Revenues and EPS in line with analyst expectations First half 2022 results: EPS: R0.074 (up from R0.044 in 1H 2021). Revenue: R439.4m (up 36% from 1H 2021). Net income: R91.4m (up 69% from 1H 2021). Profit margin: 21% (up from 17% in 1H 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Nov 24
Capital Appreciation Limited Provides Earnings Guidance for the Six Months Ended 30 September 2021 Capital Appreciation Limited provided earnings guidance for the six months ended 30 September 2021. The Basic Earnings Per Share for the six months ended 30 September 2021 will be higher than the corresponding period by between 65.2% and 68.1% and will be between 7.35 cents and 7.48 cents, when compared to the reported EPS of 4.45 cents for the reporting period ended 30 September 2020. Headline Earnings Per Share for the six months ended 30 September 2021 will be higher by between 65.2% and 67.9% and will be between 7.35 cents and 7.47 cents, when compared to the reported HEPS of 4.45 cents for the reporting period ended 30 September 2020. Valuation Update With 7 Day Price Move • Oct 22
Investor sentiment improved over the past week After last week's 17% share price gain to R1.39, the stock trades at a trailing P/E ratio of 13.6x. Average trailing P/E is 13x in the IT industry in South Africa. Total returns to shareholders of 83% over the past three years. Executive Departure • Oct 03
Independent Non-Executive Director Roshan Morar has left the company On the 23rd of September, Roshan Morar's tenure as Independent Non-Executive Director ended after 6.0 years in the role. As of June 2021, Roshan still personally held only 100.00k shares (R122k worth at the time). Roshan is the only executive to leave the company over the last 12 months. Executive Departure • Sep 29
Independent Non-Executive Director Roshan Morar has left the company On the 23rd of September, Roshan Morar's tenure as Independent Non-Executive Director ended after 6.0 years in the role. As of June 2021, Roshan still personally held only 100.00k shares (R122k worth at the time). Roshan is the only executive to leave the company over the last 12 months. Upcoming Dividend • Jul 01
Upcoming dividend of R0.03 per share Eligible shareholders must have bought the stock before 07 July 2021. Payment date: 12 July 2021. Trailing yield: 4.5%. Lower than top quartile of South African dividend payers (7.7%). Lower than average of industry peers (9.0%). Reported Earnings • Jun 27
Full year 2021 earnings released The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: R619.5m (down 12% from FY 2020). Net income: R125.7m (down 16% from FY 2020). Profit margin: 20% (down from 21% in FY 2020). The decrease in margin was driven by lower revenue. Valuation Update With 7 Day Price Move • Jun 13
Investor sentiment improved over the past week After last week's 15% share price gain to R1.29, the stock trades at a trailing P/E ratio of 10.7x. Average trailing P/E is 14x in the IT industry in Africa. Total returns to shareholders of 46% over the past three years. Valuation Update With 7 Day Price Move • Apr 14
Investor sentiment improved over the past week After last week's 16% share price gain to R1.11, the stock trades at a trailing P/E ratio of 9.2x. Average trailing P/E is 13x in the IT industry in Africa. Total returns to shareholders of 77% over the past three years. Announcement • Mar 10
Capital Appreciation Limited, Annual General Meeting, Mar 31, 2021 Capital Appreciation Limited, Annual General Meeting, Mar 31, 2021. Is New 90 Day High Low • Jan 06
New 90-day high: R1.19 The company is up 24% from its price of R0.96 on 08 October 2020. The South African market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the IT industry, which is down 19% over the same period. Upcoming Dividend • Dec 16
Upcoming Dividend of R0.025 Per Share Will be paid on the 28th of December to those who are registered shareholders by the 22nd of December. The trailing yield of 4.2% is below the top quartile of South African dividend payers (9.2%), and is lower than industry peers (8.2%). Is New 90 Day High Low • Dec 07
New 90-day high: R1.12 The company is up 23% from its price of R0.91 on 08 September 2020. The South African market is up 9.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the IT industry, which is up 39% over the same period.