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JSE – SPE Profile’s Stock Exchange Handbook: 2024 – Issue 3
Spear REIT Ltd. Spur Corporation Ltd.
SPE SPU
ISIN: ZAE000228995 SHORT: SPEARREIT CODE: SEA ISIN: ZAE000022653 SHORT: SPURCORP CODE: SUR
REG NO: 2015/407237/06 FOUNDED: 2011 LISTED: 2016 REG NO: 1998/000828/06 FOUNDED: 1967 LISTED: 1999
NATURE OF BUSINESS: Spear REIT Ltd. listed as a Real Estate NATURE OF BUSINESS: Spur Corporation Ltd. (company registration
Investment Trust (“REIT”) on the main board of the JSE Ltd. and is the number: 1998/000828/06), which is domiciled and incorporated in the
only regionally-focused REIT listed on the JSE that predominantly invests Republic of South Africa and listed on the JSE Ltd., the recognised securities
in high-quality income-generating assets in the Western Cape. Spear exchange in South Africa, is an investment holding company. Through
obtains its diversification through asset type rather than geographical various subsidiaries, the group carries on the business of franchisor in
investment. predominantly the family sit-down and quick service restaurant markets.
The company conducts its business directly and through a number of Through other subsidiaries, the group provides marketing and promotional
subsidiaries, collectively referred to as “the group”. services to franchisees. A subsidiary of the company, Spur Group Properties
The group’s property and asset management functions are internally and (Pty) Ltd., owns certain properties which are owner-occupied from a group
directly managed by the Spear executive management team. perspective. A subsidiary, Share Buy-back (Pty) Ltd., holds treasury shares
SECTOR: RealEstate—RealEstate—REITS—Diversified as authorised by shareholders by way of special resolution on an annual
NUMBER OF EMPLOYEES: 29 basis. The company also has indirect interests in six local entities that
DIRECTORS: AllieJE(ld ind ne), GoldbergBL(ind ne), operate four The Hussar Grills, one RocoMamas and one Modrockers (pilot
McCarthyCS(ne), Phillips Dr R (ind ne), Raziya B (ind ne), proof of concept) outlet in South Africa.
Varachhia A (Chair, ne), Flax M N (Dep Chair, ne), Rossi Q M (CEO), SECTOR: ConsDisr—Travel&Leis—Travel&Leis—Resturants&Bars
Barnard C (CFO) NUMBER OF EMPLOYEES: 418
MAJOR ORDINARY SHAREHOLDERS as at 29 Feb 2024 DIRECTORS: Boggenpoel J (ind ne), Fernandez C (ind ne),
Spear Holdco (Pty) Ltd. 7.90% Molebatsi L (ind ne), ParkerAC(ind ne), ZinnSA(ld ind ne),
Old Mutual Group 7.48% Bosman M J (Chair, ind ne), Nichas V (CEO), Robertson K (COO),
Prescient 6.79% Teixeira C (CFO)
POSTAL ADDRESS: PO Box 50, Observatory, 7935 MAJOR ORDINARY SHAREHOLDERS as at 26 Jun 2024
MORE INFO: www.sharedata.co.za/sdo/jse/SEA Coronation Fund Managers 16.30%
COMPANY SECRETARY: René Cheryl Stober Camissa Asset Management (Pty) Ltd. 10.17%
TRANSFER SECRETARY: Computershare Investor Services (Pty) Ltd. Allan Gray 10.10%
SPONSOR: PSG Capital (Pty) Ltd. POSTAL ADDRESS: PO Box 166, Century City, 7446
AUDITORS: BDO MORE INFO: www.sharedata.co.za/sdo/jse/SUR
COMPANY SECRETARY: Donfrey Meyer
CAPITAL STRUCTURE AUTHORISED ISSUED TRANSFER SECRETARY: Computershare Investor Services (Pty) Ltd.
SEA Ords no par 1 000 000 000 283 091 373 SPONSOR: Questco Corporate Advisory (Pty) Ltd.
DISTRIBUTIONS [ZARc] AUDITORS: PwC Inc.
Ords no par Ldt Pay Amt CAPITAL STRUCTURE AUTHORISED ISSUED
Final No 15 11 Jun 24 18 Jun 24 40.53 SUR Ords 0.001c 201 000 000 90 996 932
Interim No 14 14 Nov 23 20 Nov 23 38.33
DISTRIBUTIONS [ZARc]
LIQUIDITY: Jul24 Avg 487 515 shares p.w., R3.9m(9.0% p.a.) Ords 0.001c Ldt Pay Amt
REIV 40 Week MA SPEARREIT Interim No 47 18 Mar 24 25 Mar 24 95.00
Final No 46 12 Sep 23 18 Sep 23 110.00
1035
LIQUIDITY: Jul24 Avg 229 084 shares p.w., R6.7m(13.1% p.a.)
899
TRAV 40 Week MA SPURCORP
763 3420
627 2839
491 2258
355 1678
2019 | 2020 | 2021 | 2022 | 2023 | 2024
FINANCIAL STATISTICS 1097
(Amts in ZAR’000) Feb 24 Feb 23 Feb 22 Feb 21 Feb 20
Final Final Final Final Final 2019 | 2020 | 2021 | 2022 | 2023 | 2024 516
NetRent/InvInc 368 486 346 490 341 953 343 647 341 434
Total Inc 371 126 349 291 345 600 349 556 351 646 FINANCIAL STATISTICS
Dec 23
Attrib Inc 362 740 182 205 164 924 53 008 207 305 (Amts in ZAR’000) Interim Jun 23 Jun 22 Jun 21 Jun 20
Final Final(rst) Final(rst)
Final
TotCompIncLoss 362 740 182 205 164 924 56 984 212 590
761 620
Ord UntHs Int 3 068 045 2 594 408 2 650 089 2 372 257 2 447 203 Turnover 1 766 210 3 045 201 2 391 192 1 804 945 114 203
Op Inc
174 968
208 921
292 459
144 294
Investments 4 185 066 3 793 263 4 406 265 4 495 969 4 183 995 NetIntPd(Rcvd) - 16 726 - 25 965 - 747 - 3 508 - 14 034
FixedAss/Prop 500 1 041 1 604 2 206 2 844 Minority Int 7 176 8 834 7 105 6 677 3 733
Tot Curr Ass 492 423 461 621 117 089 75 151 48 152 Att Inc 129 490 212 176 121 235 92 568 66 924
Total Ass 4 678 422 4 256 708 4 530 473 4 583 887 4 301 966 TotCompIncLoss 135 848 224 094 127 194 99 259 69 300
Tot Curr Liab 349 649 473 915 76 849 494 362 236 121
Fixed Ass 103 762 87 202 92 516 93 957 102 182
PER SHARE STATISTICS (cents per share) Inv & Loans - - 350 962 2 929
HEPLU-C (ZARc) 82.78 79.85 77.21 76.70 99.09 Tot Curr Ass 730 680 690 892 558 637 473 515 282 440
DPLU (ZARc) 78.88 75.98 68.25 58.70 91.66 Ord SH Int 795 849 738 142 673 306 617 721 527 178
NAV (ZARc) 1 180.00 1 148.00 1 130.00 1 153.00 1 221.00 Minority Int 14 064 13 567 12 711 13 314 8 437
3 Yr Beta 0.03 0.41 0.65 0.60 0.26 LT Liab 145 323 87 303 92 187 116 051 127 883
Price Prd End 835 735 850 510 890 Tot Curr Liab 462 541 327 941 269 772 226 740 137 408
Price High 899 899 960 895 1 050 PER SHARE STATISTICS (cents per share)
Price Low 672 690 495 475 850 HEPS-C (ZARc) 159.55 261.18 144.22 110.13 83.23
RATIOS DPS (ZARc) 95.00 192.00 127.00 - 78.00
RetOnSH Funds 11.77 6.99 6.17 2.38 8.43 NAV PS (ZARc) 981.39 907.44 814.39 756.00 637.88
RetOnTotAss 7.93 8.21 7.63 7.63 8.17 3 Yr Beta - 0.07 0.09 0.74 0.90 0.75
Debt:Equity 0.40 0.45 0.67 0.71 0.61 Price High 3 201 2 599 2 699 2 350 2 880
OperRetOnInv 8.80 9.13 7.76 7.64 8.15 Price Low 2 250 1 850 1 488 1 176 1 401
OpInc:Turnover 59.49 59.61 59.48 64.69 64.76
Price Prd End 3 200 2 335 2 055 1 925 1 699
RATIOS
Ret on SH Fnd 33.75 29.40 18.71 15.73 13.19
Oper Pft Mgn 9.91 9.60 8.74 7.99 14.99
D:E 0.27 0.12 0.13 0.18 0.24
Current Ratio 1.58 2.11 2.07 2.09 2.06
Div Cover 1.68 1.35 1.14 - 0.99
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