Announcement • Oct 22
Metrofile Holdings Limited, Annual General Meeting, Nov 20, 2025 Metrofile Holdings Limited, Annual General Meeting, Nov 20, 2025. Valuation Update With 7 Day Price Move • Sep 19
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to R3.00, the stock trades at a trailing P/E ratio of 51x. Average trailing P/E is 12x in the IT industry in South Africa. Total returns to shareholders of 8.5% over the past three years. Announcement • Sep 17
WndrCo Holdings, LLC, James Simmons and others entered into an implementation agreement to acquire Metrofile Holdings Limited (JSE:MFL) from MIC Investment Holdings (Pty) Ltd, Sabvest Investments (Pty) Limited, Project Sauter Proprietary Limited, Afropulse Group Proprietary Limited and others for ZAR 1.4 billion. WndrCo Holdings, LLC, James Simmons and others entered into an implementation agreement to acquire Metrofile Holdings Limited (JSE:MFL) from MIC Investment Holdings (Pty) Ltd, Sabvest Investments (Pty) Limited, Project Sauter Proprietary Limited, Afropulse Group Proprietary Limited and others for ZAR 1.4 billion on September 16, 2025. A cash consideration valued at ZAR 3.25 per share will be paid by WndrCo Holdings, LLC. The buyers has provided the Takeover Regulation Panel with an irrevocable unconditional bank guarantee issued by The Standard Bank of South Africa Limited for the purpose of settling the maximum Offer Consideration payable to Scheme Participants, amounting to ZAR 1.37 billion. The Scheme for the M&A transaction will terminate immediately upon the occurrence of specific events before all Scheme Conditions are fulfilled or waived. These termination events include: the Offeror providing written notice if the Independent Expert Report deems the Offer Consideration unfair or unreasonable; notice from the Offeror if the number of Offer Shares exceeds 422,175,219; notice if the Company declares or pays a distribution concerning Metrofile Shares post-March 31, 2025, with a record date on or before the Scheme record date; if any waivable Scheme Condition becomes unfulfillable and the Offeror opts not to waive it; if a waivable Scheme Condition becomes unfulfillable and either party refuses to agree to its waiver; if any Scheme Conditions remain unfulfilled or unwaived by the relevant deadlines; notice from the Offeror if a "Material Adverse Change" occurs, as detailed in the Circular; notice from the Company if the Offeror breaches any material provision of the Implementation Agreement and fails to remedy within 5 business days; and notice from the Offeror if the Company breaches any material provision of the Implementation Agreement and does not remedy within 5 business days.
The transaction is subject to approval by regulatory board / committee, approval of offer by target shareholders and subject to court approval. The expected completion of the transaction is April 15, 2026.
Tamela Holdings Limited acted as fairness opinion provider for Metrofile Holdings Limited. The Standard Bank of South Africa Limited acted as financial advisor and Werksmans Attorneys Incorporating Jan S. de Villiers acted as legal advisor for Metrofile Holdings Limited. N M Rothschild & Sons (South Africa) (Proprietary) Limited acted as financial advisor and Webber Wentzel acted as legal advisor to WndrCo Holdings, LLC, James Simmons and others. Reported Earnings • Sep 08
Full year 2025 earnings released: EPS: R0.059 (vs R0.039 in FY 2024) Full year 2025 results: EPS: R0.059 (up from R0.039 in FY 2024). Revenue: R1.07b (down 6.5% from FY 2024). Net income: R24.9m (up 50% from FY 2024). Profit margin: 2.3% (up from 1.5% in FY 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 61 percentage points per year, which is a significant difference in performance. Announcement • Aug 29
Metrofile Holdings Limited to Report Fiscal Year 2025 Results on Sep 08, 2025 Metrofile Holdings Limited announced that they will report fiscal year 2025 results on Sep 08, 2025 Buy Or Sell Opportunity • Aug 01
Now 32% overvalued The stock has been flat over the last 90 days, currently trading at R2.50. The fair value is estimated to be R1.89, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.8% over the last 3 years. Meanwhile, the company became loss making. Board Change • Jul 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 5 highly experienced directors. Non Executive Director Dominic Storom was the last director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Buy Or Sell Opportunity • Apr 30
Now 26% overvalued after recent price rise Over the last 90 days, the stock has risen 23% to R2.40. The fair value is estimated to be R1.91, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.8% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Apr 15
Now 35% overvalued after recent price rise Over the last 90 days, the stock has risen 31% to R2.60. The fair value is estimated to be R1.93, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.8% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Mar 27
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 11% to R2.40. The fair value is estimated to be R1.95, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 5.8% over the last 3 years. Meanwhile, the company became loss making. Upcoming Dividend • Mar 26
Upcoming dividend of R0.04 per share Eligible shareholders must have bought the stock before 02 April 2025. Payment date: 07 April 2025. The company is not currently making a profit but it is cash flow positive. Trailing yield: 3.8%. Lower than top quartile of South African dividend payers (8.4%). Lower than average of industry peers (4.4%). Recent Insider Transactions Derivative • Mar 23
Board Member exercised options to buy R1.8m worth of stock. On the 19th of March, Shivan Mansingh exercised options to buy 1m shares at a strike price of around R1.62, costing a total of R1.7m. This transaction amounted to 264% of their direct individual holding at the time of the trade. Since June 2024, Shivan's direct individual holding has increased from 150.00k shares to 401.66k. Company insiders have collectively bought R4.9m more than they sold, via options and on-market transactions, in the last 12 months. Recent Insider Transactions • Mar 09
Key Executive recently bought R107k worth of stock On the 5th of March, Thabo Stanley Seopa bought around 70k shares on-market at roughly R1.52 per share. This transaction amounted to 6.0% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Thabo Stanley has been a buyer over the last 12 months, purchasing a net total of R2.6m worth in shares. Declared Dividend • Mar 06
First half dividend reduced to R0.04 Dividend of R0.04 is 43% lower than last year. Ex-date: 2nd April 2025 Payment date: 7th April 2025 Dividend yield will be 7.3%, which is lower than the industry average of 11%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (43% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Buy Or Sell Opportunity • Feb 28
Now 27% undervalued after recent price drop Over the last 90 days, the stock has fallen 43% to R1.31. The fair value is estimated to be R1.78, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.2% over the last 3 years. Earnings per share has declined by 19%. Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to R1.51, the stock trades at a trailing P/E ratio of 38.4x. Average trailing P/E is 12x in the IT industry in Africa. Total loss to shareholders of 46% over the past three years. Valuation Update With 7 Day Price Move • Dec 03
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to R2.06, the stock trades at a trailing P/E ratio of 52.3x. Average trailing P/E is 12x in the IT industry in Africa. Total loss to shareholders of 24% over the past three years. Announcement • Nov 27
Metrofile Holdings Limited Announces Changes to the Board of Directors and Board Committees, Effective 1 January 2025 Metrofile Holdings Limited announced following changes to the Board and its committees, effective 1 January 2025: Ms Phumzile Langeni, currently independent non- executive chairman of Metrofile and a material shareholder in Metrofile, will relinquish that position and be appointed Executive Deputy Chairman of Metrofile. The new role has a defined scope of responsibilities focused on strategy and business development opportunities locally and in Africa. The CEO will continue to report directly to the Board and both parties are comfortable with the delineation of responsibilities in their roles. The need for the new position will be reviewed annually. Phumzile will also resign as the Chairman of the Nominations Committee and as a member of the Remuneration Committee. Phumzile will remain in her role as a member of the Social, Ethics and Transformation Committee and the Strategy and Investment Committee. Ms Lindiwe Mthimunye, an existing independent non-executive director of Metrofile will be appointed as independent non-executive Chairman of the Board. Lindiwe will also be appointed as Chairman of the Nominations Committee, resign as the Chairman of the Remuneration Committee, but will remain a member, and resign as a member of the Audit, Governance and Risk Committee. Lindiwe will remain a member of the Social, Ethics and Transformation Committee. Mr. Chris Seabrooke will be appointed as Chairman of the Remuneration Committee and a member of the Audit, Governance and Risk Committee. Chris' appointment to the Audit, Governance and Risk Committee will be ratified by the shareholders at Metrofile's next annual general meeting. Ms Sindi Zilwa will resign as a member of the Nominations Committee. Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to R2.21, the stock trades at a trailing P/E ratio of 56.2x. Average trailing P/E is 11x in the IT industry in Africa. Total loss to shareholders of 17% over the past three years. Announcement • Oct 25
Metrofile Holdings Limited, Annual General Meeting, Nov 21, 2024 Metrofile Holdings Limited, Annual General Meeting, Nov 21, 2024. Recent Insider Transactions • Oct 20
Key Executive recently bought R339k worth of stock On the 14th of October, Thabo Stanley Seopa bought around 126k shares on-market at roughly R2.70 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth R1.8m. Thabo Stanley has been a buyer over the last 12 months, purchasing a net total of R2.5m worth in shares. Valuation Update With 7 Day Price Move • Oct 08
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to R2.70, the stock trades at a trailing P/E ratio of 68.6x. Average trailing P/E is 14x in the IT industry in Africa. Total returns to shareholders of 2.5% over the past three years. Recent Insider Transactions • Sep 29
Independent Non-Executive Director recently bought R1.8m worth of stock On the 25th of September, Thabo Stanley Seopa bought around 809k shares on-market at roughly R2.22 per share. This trade did not impact their existing holding. In the last 3 months, there was an even bigger purchase from another insider worth R32m. Insiders have collectively bought R34m more in shares than they have sold in the last 12 months. Recent Insider Transactions • Sep 22
Group CFO & Executive Director recently bought R32m worth of stock On the 16th of September, Shivan Mansingh bought around 152k shares on-market at roughly R213 per share. This transaction increased Shivan's direct individual holding by 1x at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Shivan's only on-market trade for the last 12 months. Declared Dividend • Sep 18
Final dividend of R0.07 announced Shareholders will receive a dividend of R0.07. Ex-date: 2nd October 2024 Payment date: 7th October 2024 Dividend yield will be 6.8%, which is lower than the industry average of 11%. Sustainability & Growth Dividend is covered by both earnings (53% earnings payout ratio) and cash flows (40% cash payout ratio). The dividend has remained flat since 10 years ago. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 41% to shift the payout ratio to a potentially unsustainable range, which is more than the 15% EPS decline seen over the last 5 years. Reported Earnings • Sep 17
Full year 2024 earnings released: EPS: R0.039 (vs R0.32 in FY 2023) Full year 2024 results: EPS: R0.039 (down from R0.32 in FY 2023). Revenue: R1.14b (flat on FY 2023). Net income: R16.6m (down 88% from FY 2023). Profit margin: 1.5% (down from 12% in FY 2023). Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Announcement • Sep 16
Metrofile Holdings Limited Announces Final Gross Cash Dividend of the Year Ended 30 June 2024, Payable on 7 October 2024 Metrofile Holdings Limited announced that a final gross cash dividend of 7 cents per share in respect of the year ended 30 June 2024 has been declared payable, from income reserves, to the holders of ordinary shares recorded in the books of the Company on 4 October 2024. The last day to trade cum-dividend will therefore be 1 October 2024 and Metrofile shares will trade ex-dividend from 2 October 2024. Payment of the dividend will be on 7
October 2024. Buy Or Sell Opportunity • Sep 09
Now 27% overvalued Over the last 90 days, the stock has fallen 18% to R2.10. The fair value is estimated to be R1.65, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.3% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Sep 03
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to R2.01, the stock trades at a trailing P/E ratio of 6.6x. Average trailing P/E is 8x in the IT industry in Africa. Total loss to shareholders of 26% over the past three years. Announcement • Aug 29
Metrofile Holdings Limited to Report Fiscal Year 2024 Results on Sep 09, 2024 Metrofile Holdings Limited announced that they will report fiscal year 2024 results on Sep 09, 2024 Upcoming Dividend • Mar 27
Upcoming dividend of R0.07 per share Eligible shareholders must have bought the stock before 03 April 2024. Payment date: 08 April 2024. Payout ratio is a comfortable 53% and this is well supported by cash flows. Trailing yield: 5.3%. Lower than top quartile of South African dividend payers (8.9%). Lower than average of industry peers (10.0%). Reported Earnings • Mar 10
First half 2024 earnings released: EPS: R0.13 (vs R0.15 in 1H 2023) First half 2024 results: EPS: R0.13 (down from R0.15 in 1H 2023). Revenue: R577.0m (up 2.3% from 1H 2023). Net income: R55.0m (down 15% from 1H 2023). Profit margin: 9.5% (down from 12% in 1H 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Declared Dividend • Mar 06
First half dividend of R0.07 announced Shareholders will receive a dividend of R0.07. Ex-date: 3rd April 2024 Payment date: 8th April 2024 Dividend yield will be 6.0%, which is lower than the industry average of 11%. Sustainability & Growth Dividend is covered by both earnings (60% earnings payout ratio) and cash flows (54% cash payout ratio). The dividend has increased by an average of 3.3% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 6.1% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Oct 27
Metrofile Holdings Limited, Annual General Meeting, Nov 23, 2023 Metrofile Holdings Limited, Annual General Meeting, Nov 23, 2023, at 09:00 South Africa Standard Time. Upcoming Dividend • Sep 27
Upcoming dividend of R0.09 per share at 6.1% yield Eligible shareholders must have bought the stock before 04 October 2023. Payment date: 09 October 2023. Payout ratio is a comfortable 56% and this is well supported by cash flows. Trailing yield: 6.1%. Lower than top quartile of South African dividend payers (9.6%). Lower than average of industry peers (12%). Reported Earnings • Sep 17
Full year 2023 earnings released: EPS: R0.32 (vs R0.31 in FY 2022) Full year 2023 results: EPS: R0.32 (up from R0.31 in FY 2022). Revenue: R1.13b (up 16% from FY 2022). Net income: R137.9m (up 3.2% from FY 2022). Profit margin: 12% (down from 14% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. New Risk • Sep 06
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. 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: Major Risk Share price has been highly volatile over the past 3 months (11% average weekly change). Minor Risks High level of debt (85% net debt to equity). Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (R1.24b market cap, or US$64.3m). New Risk • Jun 27
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 7.6% 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: Minor Risks High level of debt (85% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.6% average weekly change). Market cap is less than US$100m (R1.15b market cap, or US$62.5m). Valuation Update With 7 Day Price Move • Jun 26
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to R2.66, the stock trades at a trailing P/E ratio of 8.6x. Average forward P/E is 19x in the IT industry in Africa. Total returns to shareholders of 41% over the past three years. Announcement • May 31
Metrofile Holdings Limited Announces Changes to the Board Sub-Committees The board of directors of Metrofile ("the Board") advised shareholders of the following changes to the Board committees with effect from 1 July 2023: Mr. Thabo Seopa will resign as a member of the Social, Ethics and Transformation Committee and will be appointed as a member of the Audit, Governance and Risk Committee. The AGRC, effective 1 July 2023, will be comprised as follows: Ms. SV Zilwa (Chairperson), Mr. A Khumalo, Ms. LE Mthimunye and Mr. STM Seopa. Mr. Seopa's appointment will be ratified by shareholders at the Company's next annual general meeting. Mr. Andile Khumalo will be appointed as a member of the Social, Ethics and Transformation Committee ("SETCOM"), replacing Mr. Thabo Seopa. The SETCOM, effective 1 July 2023, will be comprised as follows: Ms. MS Bomela (Chairperson), Mr. A Khumalo, Ms. P Langeni, Mr. S Mansingh, Ms. LE Mthimunye, Mr. PG Serima and Ms SV Zilwa. Upcoming Dividend • Mar 22
Upcoming dividend of R0.09 per share at 5.8% yield Eligible shareholders must have bought the stock before 29 March 2023. Payment date: 03 April 2023. Payout ratio is a comfortable 58% and the cash payout ratio is 77%. Trailing yield: 5.8%. Lower than top quartile of South African dividend payers (8.9%). Lower than average of industry peers (8.4%). Reported Earnings • Mar 07
First half 2023 earnings released: EPS: R0.15 (vs R0.15 in 1H 2022) First half 2023 results: EPS: R0.15 (up from R0.15 in 1H 2022). Revenue: R564.1m (up 19% from 1H 2022). Net income: R64.8m (flat on 1H 2022). Profit margin: 12% (down from 14% in 1H 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 2.6% p.a. on average during the next 2 years, compared to a 23% growth forecast for the IT industry in Africa. Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Announcement • Feb 14
Metrofile Holdings Limited (JSE:MFL) entered into an share Purchase Agreement to acquire additional 15% stake in E-file Masters LLC. Metrofile Holdings Limited (JSE:MFL) entered into an share Purchase Agreement to acquire additional 15% stake in E-file Masters LLC on February 13, 2023. This transaction increases Metrofile’s economic interest from 80% to 95%. Valuation Update With 7 Day Price Move • Dec 07
Investor sentiment improved over the past week After last week's 15% share price gain to R3.50, the stock trades at a trailing P/E ratio of 11.4x. Average forward P/E is 20x in the IT industry in South Africa. Total returns to shareholders of 46% over the past three years. Upcoming Dividend • Sep 28
Upcoming dividend of R0.09 per share Eligible shareholders must have bought the stock before 05 October 2022. Payment date: 10 October 2022. Payout ratio is a comfortable 58% and this is well supported by cash flows. Trailing yield: 5.7%. Lower than top quartile of South African dividend payers (9.0%). Lower than average of industry peers (6.8%). Reported Earnings • Sep 13
Full year 2022 earnings released: EPS: R0.31 (vs R0.32 in FY 2021) Full year 2022 results: EPS: R0.31 (down from R0.32 in FY 2021). Revenue: R979.7m (up 5.0% from FY 2021). Net income: R133.6m (down 3.4% from FY 2021). Profit margin: 14% (down from 15% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Announcement • Jul 15
Metrofile Holdings Limited, Annual General Meeting, Nov 22, 2022 Metrofile Holdings Limited, Annual General Meeting, Nov 22, 2022. Board Change • Mar 29
High number of new directors Independent Non-Executive Director Thabo Stanley Seopa was the last director to join the board, commencing their role in 2021. Upcoming Dividend • Mar 23
Upcoming dividend of R0.09 per share Eligible shareholders must have bought the stock before 30 March 2022. Payment date: 04 April 2022. Payout ratio is a comfortable 47% and this is well supported by cash flows. Trailing yield: 4.8%. Lower than top quartile of South African dividend payers (7.3%). Lower than average of industry peers (6.9%). Board Change • Nov 01
High number of new directors There are 7 new directors who have joined the board in the last 3 years. Lead Independent Non-Executive Director Sindy Zilwa was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Sep 22
Upcoming dividend of R0.08 per share Eligible shareholders must have bought the stock before 29 September 2021. Payment date: 04 October 2021. Trailing yield: 5.2%. Lower than top quartile of South African dividend payers (8.0%). Lower than average of industry peers (9.7%). Announcement • Sep 15
Housatonic Partners cancelled the acquisition of Metrofile Holdings Limited (JSE:MFL). Housatonic Partners made an offer to acquire Metrofile Holdings Limited (JSE:MFL) for ZAR 1.4 billion on September 6, 2019. The Board of Metrofile Holdings constituted an independent sub-committee of the board to assess and consider the terms of the approach. As of December 9, 2019, Housatonic Consortium has submitted a conditional non-binding offer to acquire the entire issued ordinary share capital of Metrofile by way of a scheme of arrangement for ZAR 3.30 per share. The cash consideration represents a 126% premium to the 30-day volume weighted average price of shares as at September 5, 2019. The transaction is subject to implementation agreement, Housatonic Consortium and Metrofile determining the consideration payable to beneficiaries of the Metrofile share incentive, conclusion of funding discussions between the Housatonic Consortium and one or more South African banks to fund the debt portion of the aggregate consideration, Conclusion of an arrangement between Housatonic Consortium and a suitable BBBEE partner and receiving irrevocable undertakings from members of the board and the Metrofile management team who hold shares, as well as from shareholders holding not less than 45% of the issued share capital of the Metrofile. The Board of Metrofile has convened an independent committee which comprises Phumzile Langeni, Lindiwe Evarista Mthimunye and Sindiswa Victoria Zilwa for purposes of evaluating the terms and conditions. As on March 30, 2020, Due to ongoing lockdown in South Africa has resulted in the Housatonic Consortium not being in a position to be able to finalise its arrangements with potential funding and BEE partners by March 31, 2020. Both parties have agreed to extend the date by which the Housatonic Consortium needs to finalise its arrangements with potential funding and BEE partners to May 31, 2020. The Independent Committee has appointed BDO Corporate Finance Proprietary Limited as the independent expert. The Standard Bank of South Africa Limited acted as a financial adviser and Cliffe Dekker Hofmeyr acted as a legal adviser to Metrofile Holdings.
Housatonic Partners cancelled the acquisition of Metrofile Holdings Limited (JSE:MFL) on September 14, 2021. There have been no further substantive interactions with Housatonic and the board regards the process as termi-nated at the present time. Reported Earnings • Sep 14
Full year 2021 earnings released: EPS R0.32 (vs R0.034 loss in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: R933.5m (up 3.3% from FY 2020). Net income: R138.3m (up R153.1m from FY 2020). Profit margin: 15% (up from net loss in FY 2020). The move to profitability was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Director Overboarding • Aug 28
Director Sindiswa Zilwa has joined 5th company board Independent Non-Executive Director Sindiswa Zilwa has been appointed to the board of Massmart Holdings Limited (JSE:MSM). Zilwa now sits on a total of 5 company boards. According to the Simply Wall St Risk Model, the director is at risk of having too many board obligations. Director Overboarding • Aug 28
Director Sindiswa Zilwa has joined 5th company board Independent Non-Executive Director Sindiswa Zilwa has been appointed to the board of Massmart Holdings Limited (JSE:MSM). Zilwa now sits on a total of 5 company boards. According to the Simply Wall St Risk Model, the director is at risk of having too many board obligations. Director Overboarding • Aug 28
Director Sindiswa Zilwa has joined 5th company board Independent Non-Executive Director Sindiswa Zilwa has been appointed to the board of Massmart Holdings Limited (JSE:MSM). Zilwa now sits on a total of 5 company boards. According to the Simply Wall St Risk Model, the director is at risk of having too many board obligations. Director Overboarding • Aug 28
Director Sindiswa Zilwa has joined 5th company board Independent Non-Executive Director Sindiswa Zilwa has been appointed to the board of Massmart Holdings Limited (JSE:MSM). Zilwa now sits on a total of 5 company boards. According to the Simply Wall St Risk Model, the director is at risk of having too many board obligations. Director Overboarding • Aug 28
Director Sindiswa Zilwa has joined 5th company board Independent Non-Executive Director Sindiswa Zilwa has been appointed to the board of Massmart Holdings Limited (JSE:MSM). Zilwa now sits on a total of 5 company boards. According to the Simply Wall St Risk Model, the director is at risk of having too many board obligations. Director Overboarding • Aug 28
Director Sindiswa Zilwa has joined 5th company board Independent Non-Executive Director Sindiswa Zilwa has been appointed to the board of Massmart Holdings Limited (JSE:MSM). Zilwa now sits on a total of 5 company boards. According to the Simply Wall St Risk Model, the director is at risk of having too many board obligations. Director Overboarding • Aug 28
Director Sindiswa Zilwa has joined 5th company board Independent Non-Executive Director Sindiswa Zilwa has been appointed to the board of Massmart Holdings Limited (JSE:MSM). Zilwa now sits on a total of 5 company boards. According to the Simply Wall St Risk Model, the director is at risk of having too many board obligations. Recent Insider Transactions • Jun 04
Non-Executive Director recently sold R72k worth of stock On the 31st of May, Graham Wackrill sold around 20k shares on-market at roughly R3.50 per share. 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. Upcoming Dividend • Mar 23
Upcoming dividend of R0.07 per share Eligible shareholders must have bought the stock before 30 March 2021. Payment date: 06 April 2021. Trailing yield: 5.0%. Lower than top quartile of South African dividend payers (8.2%). Lower than average of industry peers (7.2%). Announcement • Mar 21
Metrofile Holdings Limited Announces Change to the Board of Directors The board of directors of Metrofile Holdings announced the appointment of Mr. Lebohang Storom as a non-executive alternate director to Mr. Zaheer Abdulla, effective 26 March 2021. Mr. Storom is the Group Financial Manager of Mineworkers Investment Company and previously Group Financial Manager of Adcorp Holdings Limited. His commercial experience is in increasing financial and operational efficiencies through new innovative technologies. Reported Earnings • Mar 10
First half 2021 earnings released: EPS R0.15 (vs R0.12 in 1H 2020) The company reported a decent first half result with improved earnings and profit margins, although revenues were weaker. First half 2021 results: Revenue: R454.9m (down 3.8% from 1H 2020). Net income: R64.2m (up 24% from 1H 2020). Profit margin: 14% (up from 11% in 1H 2020). Over the last 3 years on average, earnings per share has fallen by 86% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Is New 90 Day High Low • Feb 10
New 90-day high: R2.96 The company is up 10.0% from its price of R2.69 on 12 November 2020. The South African market is up 13% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the IT industry, which is down 30% over the same period. Is New 90 Day High Low • Jan 05
New 90-day high: R2.89 The company is up 8.0% from its price of R2.67 on 07 October 2020. The South African market is up 11% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the IT industry, which is down 20% over the same period. Announcement • Dec 18
Metrofile Receives Another Acquisition Offer from A US Private Equity Firm Metrofile Holdings Limited (JSE:MFL) said it received another acquisition offer as plans for a buyout from a US private equity firm stalled due to Covid-19. Metrofile is in the middle of a takeover by Housatonic Partners, which made an offer in the second half of 2019. Given the Covid-19 crisis, Housatonic Partners wanted assurances that Metrofile is trading well in a distressed economy. This process has been delayed due to travel restrictions that mean the potential buyers are still not able to travel to SA. Despite this, Metrofile told shareholders on December 15, 2020 that Housatonic's consortium "has assured the company of its wish to continue with the possible transaction for the acquisition of Metrofile". Metrofile said it has a separate offer from another international player and is still assessing the merits of the "unsolicited approach . which is preliminary in nature". Is New 90 Day High Low • Dec 15
New 90-day high: R2.83 The company is up 2.0% from its price of R2.77 on 16 September 2020. The South African market is up 6.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the IT industry, which is down 20% over the same period. Announcement • Sep 25
Metrofile Holdings Limited (JSE: MGX) agreed to sell Dion Business Systems (Pty) Ltd. for approximately ZAR 6.06 million. Metrofile Holdings Limited (JSE: MGX) agreed to sell Dion Business Systems (Pty) Ltd. to Kia Tanara Price Trust, whose sole beneficiary is Kia Tanara Price, the daughter of Ronald Price, the Chief Executive Officer of Metrofile, on October 30, 2003, in a transaction reportedly valued at approximately ZAR 6.06 million. The deal is subject to approval of board of directors of MGX and approval of the JSE Securities Exchange South Africa. The transaction is expected to close by December 31, 2003. Deloitte & Touche Corporate Finance provided fairness opinion to Metrofile Holdings Limited. Announcement • Jul 26
Metrofile Holdings Limited to Report Fiscal Year 2020 Results on Sep 14, 2020 Metrofile Holdings Limited announced that they will report fiscal year 2020 results on Sep 14, 2020