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JSE – MER                                Profile’s Stock Exchange Handbook: 2024 – Issue 3
               Merafe Resources Ltd.                      Metair Investments Ltd.
        MER                                        MET
       ISIN: ZAE000060000  SHORT: MERAFE  CODE: MRF  ISIN: ZAE000090692  SHORT: METAIR  CODE: MTA
       REG NO: 1987/003452/06  FOUNDED: 1987  LISTED: 1988  REG NO: 1948/031013/06  FOUNDED: 1948  LISTED: 1949
       NATURE OF BUSINESS: Merafe is listed on the Johannesburg Stock  NATURE OF BUSINESS:Metair is a publicly-owned company listed on the
        Exchange (JSE)andA2Xinthe GeneralMiningsectorunderthe sharecode  Johannesburg Stock Exchange. From its headquarters in Johannesburg the
        MRF. Merafe’s business is the 20.5% participation through its  group manages an international portfolio of companies that manufacture,
        wholly-owned subsidiary, Merafe Ferrochrome, in the earnings before  distribute and retail products for energy storage and automotive
        interest, tax, depreciation and amortisation (EBITDA) of the Venture in  components. Metair was formed in 1948, becoming a supplier of
        which GlencoreOperationsSouth Africa (Pty) Ltd.(Glencore) has a79.5%  automotive components to a single OEM in South Africa in 1964. As
        participation. The group’s major shareholders are Glencore (Netherlands)  Metair has grown, our strategy has evolved to meet the challenges of
        B.V. (Glencore BV)and the Industrial Development Corporation of South  competing in the global automotive industry. Today, Metair is a truly
        Africa (IDC). Merafe and Glencore formed the Venture in July 2004 when  international company with multiple OEM customers around the world, a
        they pooled their chrome operations to create the largest ferrochrome  broad range of aftermarket and non-automotive products, operations in
        producer in the world.                     five countries and ambitions to grow into five continents within the next
       SECTOR:BasicMaterials—BasicResrcs—IndMet&Min—GeneralMining  five years.
       NUMBER OF EMPLOYEES: 6 719                 SECTOR: Consumer Discretionary—Auto&Parts—Auto&Parts—Auto
       DIRECTORS: Green D (ne), Mabusela-Aikhuere N (ind ne), McClaughlan J  NUMBER OF EMPLOYEES: 16 750
        (ind ne), McGluwa D (ne), Tlale K (ind ne), Vuso M J (ind ne), Phiri S  DIRECTORS: GiliamPH(ind ne), Mawasha B (ld ind ne), Medupe
        D(Chair, ind ne), Matlala Z (CEO), Chocho D (FD)  N(ind ne), MkhondoNL(ind ne), MuellMH(ind ne), SithebeAK(ind
       MAJOR ORDINARY SHAREHOLDERS as at 31 Dec 2023  ne), Sithole S (alt), Mgoduso T N (Chair, ind ne), O’Flaherty P S (CEO),
         Glencore BV                      28.82%   Jogia A (CFO)
         Industrial Development Corporation of SA Ltd.  21.88%  MAJOR ORDINARY SHAREHOLDERS as at 17 Jul 2024
         Ninety One (Cape Town)            6.21%    Coronation Fund Managers         20.96%
       POSTAL ADDRESS: PO Box 652157, Benmore, 2010  Old Mutual                       7.16%
       MORE INFO: www.sharedata.co.za/sdo/jse/MRF   Value Active PFP H4 QI Hedge Fund  6.94%
       COMPANY SECRETARY: CorpStat Governance Services  POSTAL ADDRESS:PostNetSuite231, PrivateBagX31,Saxonwold,2132
       TRANSFER SECRETARY: JSE Investor Services (Pty) Ltd.  MORE INFO: www.sharedata.co.za/sdo/jse/MTA
       SPONSOR: One Capital Sponsor Services (Pty) Ltd.  COMPANY SECRETARY: S M Vermaak
       AUDITORS: Deloitte & Touche Inc.           TRANSFER SECRETARY: Computershare Investor Services (Pty) Ltd.
                                                  SPONSOR: One Capital
       CAPITAL STRUCTURE   AUTHORISED     ISSUED
       MRF  Ords 1c ea      3 500 000 000  2 499 126 870  AUDITORS: Ernst & Young Inc.
                                                  CAPITAL STRUCTURE   AUTHORISED     ISSUED
       DISTRIBUTIONS [ZARc]                       MTA  Ords no par value  400 000 000  198 985 886
       Ords 1c ea            Ldt    Pay     Amt
       Final No 19        9 Apr 24  15 Apr 24  22.00  DISTRIBUTIONS [ZARc]
       Interim No 18      5 Sep 23  11 Sep 23  20.00  Ords no par value  Ldt    Pay    Amt
                                                  Final No 71        5 Apr 22  11 Apr 22  90.00
       LIQUIDITY: Jul24 Avg 6m shares p.w., R7.6m(11.8% p.a.)
                                                  Final No 69       13 Apr 21  19 Apr 21  75.00
               INDM       40 Week MA   MERAFE
                                                  LIQUIDITY: Jul24 Avg 2m shares p.w., R20.3m(40.3% p.a.)
                                           389
                                                          AUTM       40 Week MA   METAIR
                                           317                                         3060
                                           245                                         2645
                                           173                                         2230
                                           101                                         1816
                                           29                                          1401
          2019  |  2020  |  2021  |  2022  |  2023  |  2024
       FINANCIAL STATISTICS                                                            986
                                                     2019  |  2020  |  2021  |  2022  |  2023  |
       (R million)  Dec 23  Dec 22  Dec 21  Dec 20  Dec 19
                     Final  Final  Final  Final Final(rst)  FINANCIAL STATISTICS
       Revenue       9 244  7 939  8 063  4 780  5 379  (R million)  Dec 23  Dec 22  Dec 21  Dec 20  Dec 19
       Op Inc        2 315  1 925  2 315  - 1 351  - 67         Final  Final  Final  Final  Final
       NetIntPd(Rcvd)  - 38  - 25  - 11  - 5  10  Turnover     15 856  13 905  12 621  10 235  11 238
       Att Inc       1 753  1 410  1 674  - 1 003  - 1 362  Op Inc  487  453  1 159  561  1 018
       TotCompIncLoss  1 753  1 410  1 674  - 1 003  - 1 362  NetIntPd(Rcvd)  741  377  145  164  227
       Fixed Ass     1 388  1 075  713  339  1 435  Minority Int  33   36    18   11    34
       Tot Curr Ass  5 182  4 509  4 179  2 609  3 057  Att Inc  96   - 40  675   174  624
       Ord SH Int    5 259  4 330  3 770  2 277  3 381  TotCompIncLoss  407  1 495  - 208  - 100  273
       LT Liab        419  418   283   192  585   Fixed Ass     4 078  3 771  2 637  2 618  2 707
       Tot Curr Liab  971  908   892   644  594   Inv & Loans    216  193     -    -     -
                                                  Tot Curr Ass  7 242  7 492  5 536  5 539  4 906
       PER SHARE STATISTICS (cents per share)     Ord SH Int    5 406  5 068  3 759  4 106  4 188
       HEPS-C (ZARc)  60.10  56.40  66.95  - 0.80  - 3.40  Minority Int  127  130  116  109  123
       DPS (ZARc)    42.00  25.00  29.00  -  4.00  LT Liab      1 700  912  2 242  1 028  1 843
       NAV PS (ZARc)  210.42  173.27  150.43  90.69  134.64  Tot Curr Liab  5 877  6 723  2 959  4 056  2 813
       3 Yr Beta     1.13  1.45  1.66  1.11  0.96
       Price High     146  196   124   89   153   PER SHARE STATISTICS (cents per share)
       Price Low      104  103    41   24    75   HEPS-C (ZARc)  135.00  - 17.00  354.00  148.00  336.00
       Price Prd End  130  132   120   42    86   DPS (ZARc)      -     -  90.00  75.00  120.00
       RATIOS                                     NAV PS (ZARc)  2 790.00 2 615.00 1 946.00 2 133.00 2 186.00
       Ret on SH Fnd  33.34  32.56  44.39  - 44.05  - 40.28  3 Yr Beta  0.41  0.92  0.99  1.08  0.13
       Oper Pft Mgn  25.04  24.25  28.71  - 28.27  - 1.25  Price High  2 763  3 134  3 250  2 400  2 575
       D:E           0.08  0.10  0.08  0.08  0.17  Price Low    1 329  2 161  1 717  1 192  1 600
       Current Ratio  5.33  4.97  4.68  4.05  5.15  Price Prd End  1 775  2 750  2 750  1 875  2 310
       Div Cover     1.67  2.26  2.30   -  - 13.55  RATIOS
                                                  Ret on SH Fnd  2.32  - 0.08  17.88  4.40  15.26
                                                  Oper Pft Mgn  3.07  3.26  9.18  5.48  9.06
                                                  D:E           0.81  0.86  0.73  0.70  0.70
                                                  Current Ratio  1.23  1.11  1.87  1.37  1.74
                                                  Div Cover       -     -   3.89  1.21  2.71
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