Board Change • May 20
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Lead Independent Director Miller Moela was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Apr 23
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Lead Independent Director Miller Moela was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Feb 20
TeleMasters Holdings Limited Announces Committee Appointments TeleMasters Holdings Limited held its Annual General Meeting on February 19, 2026. MJ Krastanov was appointed as a member and Chair of the Audit and Risk Committee. MB Pretorius and M Moela were appointed as members of the Audit and Risk Committee. New Risk • Feb 03
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 2.3% 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 (2.3% average weekly change). Market cap is less than US$10m (R51.5m market cap, or US$3.21m). Minor Risk Revenue is less than US$5m (R65m revenue, or US$4.0m). Board Change • Feb 03
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Lead Independent Director Miller Moela was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jan 19
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Lead Independent Director Miller Moela was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Dec 18
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Lead Independent Director Miller Moela was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Nov 04
TeleMasters Holdings Limited, Annual General Meeting, Nov 26, 2025 TeleMasters Holdings Limited, Annual General Meeting, Nov 26, 2025. Location: offices of catalytic, 74 waterfall drive, waterfall corporate campus, building 5, first floor, waterfall city, midrand 2066, South Africa Board Change • Oct 28
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Lead Independent Director Miller Moela was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 20
Full year 2025 earnings released: EPS: R0.009 (vs R0.006 in FY 2024) Full year 2025 results: EPS: R0.009 (up from R0.006 in FY 2024). Revenue: R64.5m (up 7.8% from FY 2024). Net income: R528.3k (up 50% from FY 2024). Profit margin: 0.8% (up from 0.6% 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 92% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Board Change • Oct 09
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. lead independent director Miller Moela was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Declared Dividend • Oct 09
Dividend of R0.002 announced Shareholders will receive a dividend of R0.002. Ex-date: 22nd October 2025 Payment date: 27th October 2025 Dividend yield will be 0.4%, which is lower than the industry average of 4.7%. Board Change • May 02
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. lead independent director Miller Moela was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Declared Dividend • Apr 04
Dividend of R0.001 announced Shareholders will receive a dividend of R0.001. Ex-date: 15th April 2025 Payment date: 22nd April 2025 Dividend yield will be 0.3%, which is lower than the industry average of 4.7%. Payout Ratios Payout ratio: 72%. Cash payout ratio: 6%. Board Change • Apr 04
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 4 non-independent directors. lead independent director Miller Moela was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Jan 30
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 14% 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 (14% average weekly change). Earnings have declined by 9.2% per year over the past 5 years. Market cap is less than US$10m (R53.8m market cap, or US$2.91m). Minor Risk Revenue is less than US$5m (R60m revenue, or US$3.2m). Announcement • Nov 01
TeleMasters Holdings Limited, Annual General Meeting, Nov 28, 2024 TeleMasters Holdings Limited, Annual General Meeting, Nov 28, 2024. Location: offices of catalytic, building 2 att house, ground floor, maxwell office park, magwa crescent, waterfall city, johannesburg South Africa Declared Dividend • Oct 06
Fourth quarter dividend of R0.001 announced Dividend of R0.001 is the same as last year. Ex-date: 23rd October 2024 Payment date: 28th October 2024 Dividend yield will be 0.2%, which is lower than the industry average of 4.7%. Payout Ratios Payout ratio: 13%. Cash payout ratio: 2%. Reported Earnings • Oct 04
Full year 2024 earnings released: EPS: R0.006 (vs R0.007 in FY 2023) Full year 2024 results: EPS: R0.006 (down from R0.007 in FY 2023). Revenue: R59.9m (down 6.7% from FY 2023). Net income: R351.7k (down 15% from FY 2023). Profit margin: 0.6% (in line with FY 2023). Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • Oct 03
Telemasters Holdings Limited Declares Interim Cash Dividend, Payable on 25 October 2024 TeleMasters Holdings Limited announced that a gross interim cash dividend (Number 65) of ZAR 0.001 (0.1 cents) per share has been declared and is payable to all shareholders recorded in the share register of the Company at the close of business on 25 October 2024. The following dates are applicable to the dividend: The last day to trade to be eligible for the dividend will Be 22 October 2024. Shares will trade ex-dividend from 23 October 2024. The record date will be 25 October 2024 and payment of the dividend will be made on 28 October 2024. Announcement • Aug 20
An undisclosed buyer entered into a letter of intent to acquire an unknown majority stake in TeleMasters Holdings Limited (JSE:TLM). An undisclosed buyer entered into a letter of intent to acquire an unknown majority stake in TeleMasters Holdings Limited (JSE:TLM) on August 19, 2024. The two largest shareholders of TeleMasters have received a non-binding expression of interest and term sheet from the BEE company to acquire all of their shares for a purchase consideration consisting of cash and shares. The proposed transaction will, if concluded, result in a change of control of TeleMasters and therefore trigger a mandatory offer in terms of section 123 of the Companies Act, 2008 to the remaining shareholders of TeleMasters in due course. The Proposed Transaction will be subject to a number of conditions precedent, including, amongst others: (i) the completion of funding agreements by the Acquiror; (ii) completion of a legal and financial due diligence investigation by the Acquiror on TeleMasters to the satisfaction of the Acquiror; and (iii) all necessary government, and third-party approvals to lawfully complete the Proposed Transaction, (iv) if concluded, would require shareholder and regulatory approvals. Negotiations in respect of this transaction are ongoing. Previously, as of July 4, 2024, the two largest shareholders of TeleMasters have been approached by a BEE company to acquire their shares, subject to a number of conditions. The Company is also in the early stages of issuing an Expression of Interest for an acquisition, which would be substantial to Telemasters.
AcaciaCap Advisors Proprietary Limited acted as financial advisor for TeleMasters Holdings Limited. Board Change • Jul 21
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director Miller Moela was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Jul 19
Investor sentiment improves as stock rises 30% After last week's 30% share price gain to R1.03, the stock trades at a trailing P/E ratio of 42.8x. Average trailing P/E is 7x in the Telecom industry in Africa. Total loss to shareholders of 17% over the past three years. Declared Dividend • Jul 05
Dividend of R0.001 announced Dividend of R0.001 is the same as last year. Ex-date: 24th July 2024 Payment date: 29th July 2024 Dividend yield will be 0.2%, which is lower than the industry average of 4.7%. Payout Ratios Payout ratio: 13%. Cash payout ratio: 4%. Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment improves as stock rises 38% After last week's 38% share price gain to R1.10, the stock trades at a trailing P/E ratio of 45.7x. Average trailing P/E is 8x in the Telecom industry in Africa. Total loss to shareholders of 8.5% over the past three years. Announcement • Jul 04
TeleMasters Holdings Limited Declares of Ordinary Gross Interim Cash Dividend TeleMasters Holdings Limited Shareholders are referred to the announcement published on SENS on 3 July 2024 regarding the declaration of an ordinary gross interim cash dividend of ZAR 0.001 (0.01 cents) per share ("the Announcement"). Announcement • Jul 02
TeleMasters Holdings Limited Appoints Miller Moela to the Board as an Independent Non-Executive Director TeleMasters Holdings Limited announced that Mr. Miller Moela has been appointed to the Board of TeleMasters as an Independent Non-Executive Director with effect from 1 July 2024. Miller is an admitted Advocate of the High Court of South Africa. He holds B.Com (Law); LLB Post Graduate; Post Graduate Diploma in Company Law. He was a Director and shareholder of Arbor Capital Sponsors for a number of years until its restructure in 2017. Miller worked in various roles, including ultimately the Listings Division of the Johannesburg Stock Exchange, for over 19 years, following which he left to join a JSE Sponsor and Designated Advisor, LPC Manhattan Moela until the merger into Arcay Moela Sponsors in 2008. He has been involved in a number of listings on the JSE and has good knowledge of the JSE Listings Requirements. He has held various Independent Non-Executive Director positions for a number of listed companies. Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment improves as stock rises 65% After last week's 65% share price gain to R1.40, the stock trades at a trailing P/E ratio of 58.1x. Average trailing P/E is 8x in the Telecom industry in Africa. Total loss to shareholders of 6.1% over the past three years. Declared Dividend • Mar 29
Fourth quarter dividend of R0.00001 announced Shareholders will receive a dividend of R0.00001. Ex-date: 17th April 2024 Payment date: 22nd April 2024 Dividend yield will be 0.1%, which is lower than the industry average of 4.7%. Payout Ratios Payout ratio: 130%. Cash payout ratio: 4%. Announcement • Mar 28
TeleMasters Holdings Limited Announces Gross Cash Dividend, Payable on 22 April 2024 TeleMasters Holdings Limited announced that notice is hereby given that a gross cash dividend (Number 63) of 0.001 cents per share has beendeclared and is payable to all shareholders recorded in the company's share register at the close of business on 19 April 2024. The following dates apply to the dividend: the last day to trade to be eligible for the dividend will be 16 April 2024. Shares will trade ex-dividend from 17 April 2024. The record date will be 19 April 2024 and the dividend payment will be made on 22 April 2024. New Risk • Mar 27
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 20% 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 (20% average weekly change). Earnings have declined by 53% per year over the past 5 years. Market cap is less than US$10m (R79.4m market cap, or US$4.20m). Minor Risk Revenue is less than US$5m (R64m revenue, or US$3.4m). Announcement • Dec 04
Telemasters Holdings Limited Declaration of Ordinary Dividend, Payable on 15 January 2024 TeleMasters Holdings Limited announced that a gross interim cash dividend (Number 61) of 0.001 cent per share has been declared by the board of directors and is payable to all shareholders recorded in the Company's share register at the close of business on 12 January 2024. The record date will be, 12 January 2024. The dividend payment will be made on 15 January 2024. Announcement • Dec 01
TeleMasters Holdings Limited Announces Management Changes AGM of TeleMasters shareholders held on 1 December 2023, approved WF Steinberg and M Tappan has retired as Director. Company also approved Appointment of MJ Krastanov as member and Chair of Audit and Risk Committee, Appointment of M Tappan as member of Audit and Risk Committee,Appointment of M Tappan as member of Audit and Risk Committee, Appointment of WF Steinberg as member of Audit and Risk Committee, appointment of DJ Bate as member of Audit and Risk Committee. New Risk • Nov 21
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 11% 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 (11% average weekly change). Earnings have declined by 53% per year over the past 5 years. Market cap is less than US$10m (R45.4m market cap, or US$2.47m). Minor Risk Revenue is less than US$5m (R64m revenue, or US$3.5m). Announcement • Oct 26
TeleMasters Holdings Limited, Annual General Meeting, Dec 01, 2023 TeleMasters Holdings Limited, Annual General Meeting, Dec 01, 2023. Location: Catalytic, Building 2 ATT House, Ground Floor Maxwell Office Park, Magwa Crescent Waterfall Gauteng South Africa New Risk • Oct 13
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 10% 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 Earnings have declined by 53% per year over the past 5 years. Market cap is less than US$10m (R56.7m market cap, or US$2.99m). Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Shareholders have been diluted in the past year (2.5% increase in shares outstanding). Revenue is less than US$5m (R64m revenue, or US$3.4m). Reported Earnings • Oct 02
Full year 2023 earnings released: EPS: R0.007 (vs R0.037 loss in FY 2022) Full year 2023 results: EPS: R0.007 (up from R0.037 loss in FY 2022). Revenue: R64.2m (down 1.3% from FY 2022). Net income: R416.0k (up R2.39m from FY 2022). Profit margin: 0.6% (up from net loss in FY 2022). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Board Change • Aug 09
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 2 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Non-Executive Director David Bate was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Aug 08
TeleMasters Holdings Limited Announces Resignation of Mrs. Talana Smith as Independent Non-Executive Director the Board of Directors of TeleMasters notified its shareholders that Mrs. Talana Smith has notified the Board of her intention to resign as Independent Non-Executive Director effective 3 August 2023. Announcement • Jul 14
TeleMasters Holdings Limited Announces Declaration of Ordinary Dividend, Payable on August 7, 2023 TeleMasters Holdings Limited announced that a gross interim cash dividend of 0.1 cent per share has been declared by the Board and is payable to all shareholders recorded in the company's share register at the close of business on 4 August 2023. The following dates apply to the dividend: the last day to trade to be eligible for the dividend will be 1 August 2023. Shares will trade ex-dividend from 2 August 2023. The record date will be 4 August 2023 and the dividend payment will be made on 7 August 2023. Announcement • Jul 06
TeleMasters Holdings Limited to Report Fiscal Year 2023 Results on Sep 30, 2023 TeleMasters Holdings Limited announced that they will report fiscal year 2023 results on Sep 30, 2023 Announcement • May 26
TeleMasters Holdings Limited Announces the Retirement of Wikus Roos as Director, with Effect 21 June 2023 The Board of Directors of TeleMasters Holdings Limited notified its shareholders that Mr. Wikus Roos has given notice of his retirement as Financial Director with effect 21 June 2023. Reported Earnings • Nov 02
Full year 2022 earnings released: R0.037 loss per share (vs R0.078 loss in FY 2021) Full year 2022 results: R0.037 loss per share (improved from R0.078 loss in FY 2021). Revenue: R65.0m (down 14% from FY 2021). Net loss: R1.98m (loss narrowed 50% from FY 2021). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 105 percentage points per year, which is a significant difference in performance. Announcement • Nov 02
TeleMasters Holdings Limited, Annual General Meeting, Dec 09, 2022 TeleMasters Holdings Limited, Annual General Meeting, Dec 09, 2022, at 09:30 South Africa Standard Time. Location: offices of Catalytic, Building 2 ATT House, Ground Floor Maxwell Office Park, Magwa Crescent, Waterfall City Joannesburg South Africa Reported Earnings • Apr 06
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (up R56.8k from 1H 2021). Profit margin: (up from net loss in 1H 2021). The move to profitability was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 125 percentage points per year, which is a significant difference in performance. Announcement • Mar 01
TeleMasters Holdings Limited to Report First Half, 2022 Results on Mar 31, 2022 TeleMasters Holdings Limited announced that they will report first half, 2022 results on Mar 31, 2022 Upcoming Dividend • Oct 13
Upcoming dividend of R0.016 per share Eligible shareholders must have bought the stock before 20 October 2021. Payment date: 25 October 2021. Trailing yield: 4.3%. Lower than top quartile of South African dividend payers (8.1%). In line with average of industry peers (4.1%). Reported Earnings • Oct 01
Third quarter 2021 earnings released: R0.039 loss per share (vs R0.007 loss in 3Q 2020) The company reported a poor third quarter result with increased losses, weaker revenues and weaker control over costs. Third quarter 2021 results: Revenue: R17.2m (down 8.1% from 3Q 2020). Net loss: R1.94m (loss widened R1.67m from 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 96 percentage points per year, which is a significant difference in performance. Announcement • Aug 27
Telemasters Holdings Limited Provides Earnings Guidance for the Year Ended June 30, 2021 TeleMasters Holdings Limited provided earnings guidance for the year ended June 30, 2021. For the year, the company expected to report a loss per share and a headline loss per share that reflect a decrease of at least 350% compared to the earnings per share of 2.59 cps and the headline earnings per share of 2.49 cps reported for the year ended June 30, 2020. The decrease is attributable to: once-off provision for the failure to collect revenues arising from a breach of contract by one customer in relation to one specific contract concluded with Catalytic Connections (Pty) Limited, a wholly-owned Company subsidiary. Catalytic Connections has initiated legal proceedings in the North Gauteng High Court (Pretoria) to collect said revenues which proceedings comprise of an application to liquidate the customer and concurrently realise a personal suretyship signed by the CEO of the customer. While the outcome and timing of the outcome of such legal proceedings remain uncertain, Catalytic Connections would not have launched such legal proceedings without being confident of its position and ability to collect some or all of such revenues in due course; following its acquisition of the remaining 75% shareholding in Conexlink (Pty) Limited, the Company's continued investment in the infrastructure and operations of its wholly- owned Ultra DC data centre subsidiary resulting in higher depreciation; and a reduction in revenues earned from lower variable usage services incurred by some customers arising as a result of the various lockdown regulations imposed by the Government of South Africa in response to the COVID-19 pandemic. Upcoming Dividend • Jul 28
Upcoming dividend of R0.016 per share Eligible shareholders must have bought the stock before 04 August 2021. Payment date: 10 August 2021. Trailing yield: 4.9%. Lower than top quartile of South African dividend payers (8.0%). Higher than average of industry peers (4.4%). Upcoming Dividend • Apr 14
Upcoming dividend of R0.016 per share Eligible shareholders must have bought the stock before 21 April 2021. Payment date: 26 April 2021. Trailing yield: 4.3%. Lower than top quartile of South African dividend payers (7.7%). In line with average of industry peers (4.4%). Valuation Update With 7 Day Price Move • Mar 26
Investor sentiment improved over the past week After last week's 19% share price gain to R1.49, the stock trades at a trailing P/E ratio of 57.4x. Average trailing P/E is 11x in the Telecom industry in Africa. Total returns to shareholders of 414% over the past three years. Valuation Update With 7 Day Price Move • Feb 22
Investor sentiment improved over the past week After last week's 19% share price gain to R1.45, the stock is trading at a trailing P/E ratio of 55.9x, up from the previous P/E ratio of 47x. This compares to an average P/E of 12x in the Telecom industry in Africa. Total returns to shareholders over the past three years are 300%. Upcoming Dividend • Dec 22
Upcoming Dividend of R0.016 Per Share Will be paid on the 4th of January to those who are registered shareholders by the 29th of December. The trailing yield of 3.8% is below the top quartile of South African dividend payers (9.2%), and is lower than industry peers (4.8%). Is New 90 Day High Low • Dec 21
New 90-day high: R1.59 The company is up 77% from its price of R0.90 on 22 September 2020. The South African market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Telecom industry, which is up 9.0% over the same period. Valuation Update With 7 Day Price Move • Dec 21
Investor sentiment improved over the past week After last week's 24% share price gain to R1.59, the stock is trading at a trailing P/E ratio of 61.3x, up from the previous P/E ratio of 49.3x. This compares to an average P/E of 11x in the Telecom industry in Africa. Total returns to shareholders over the past three years are 298%. Is New 90 Day High Low • Oct 31
New 90-day high: R1.40 The company is up 56% from its price of R0.90 on 31 July 2020. The South African market is down 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Telecom industry, which is flat over the same period. Valuation Update With 7 Day Price Move • Oct 31
Market bids up stock over the past week After last week's 75% share price gain to R1.40, the stock is trading at a trailing P/E ratio of 54x, up from the previous P/E ratio of 30.8x. This compares to an average P/E of 8x in the Telecom industry in Africa. Total returns to shareholders over the past three years are 289%. Announcement • Oct 29
TeleMasters Announces Resignation of Michael Vosloo as Chief Financial Officer, Effective 31 October 2020 TeleMasters announced that Michael Vosloo has resigned as Chief Financial Officer with effect from 31 October 2020. Upcoming Dividend • Oct 14
Upcoming Dividend of R0.016 Per Share Will be paid on the 26th of October to those who are registered shareholders by the 21st of October. The trailing yield of 7.6% is below the top quartile of South African dividend payers (10%), but it is higher than industry peers (5.0%). Is New 90 Day High Low • Oct 02
New 90-day low: R0.79 The company is down 14% from its price of R0.92 on 03 July 2020. The South African market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Telecom industry, which is down 5.0% over the same period. 
