Page 144 - Profile's Stock Exchange Handbook - 2025 Issue 4

JSE - LIG Profile’s Stock Exchange Handbook: 2025 - Issue 4
Lighthouse Properties plc Mahube Infrastructure Ltd.

ISIN: MU0461N00015 SHORT: LIGHTPROP CODE: LTE ISIN: ZAE000290763 SHORT: MAHUBE CODE: MHB
REG NO: C 100848 FOUNDED: 2014 LISTED: 2015 REG NO: 2015/115237/06 FOUNDED: 2015 LISTED: 2015
NATURE OF BUSINESS: Lighthouse Properties plc is domiciled in NATURE OF BUSINESS: Mahube Infrastructure Ltd. was listed on the
Malta and listed on the Main Board of the JSE Ltd., with operations JSE Ltd. in Johannesburg in 2015, as a Special Purpose Acquisition
offices in both Malta and the Netherlands. The Group invests in Company. Trading as GAIA Infrastructure Capital Ltd. at the time,
dominant and defensive malls located in large Western European the company raised R550 million upon listing and most of these
cities with a strong economic underpin and economic growth. A funds were deployed in 2016 during the acquisition of its first
key component of the Group’s strategy is to evolve and adapt malls viable asset, an interest in the Dorper Wind Farm.
to cater for the ever-changing demands of retailers and consumers. SECTOR: Utilities--Utilities--Electricity--AltElectricity
SECTOR: RealEstate--RealEstate--InvestmentServices--Holdings NUMBER OF EMPLOYEES: 0
NUMBER OF EMPLOYEES: 12 DIRECTORS: Kuscus M J (ind ne), May M F (ind ne), Shikwinya M D (ind ne),
DIRECTORS: Bird S (ind ne), Bodenstein K (ind ne), de Beer D (ne), Tuku S (ind ne), Moseneke G (CEO), Lewis P (CFO)
Doublet A (ind ne, Malta), Hanekom N W (alt), Paris S (ind ne, Malta), MAJOR ORDINARY SHAREHOLDERS as at 1 Oct 2025
Olivier M C (Chair, ind ne, British), Muller J J (CEO), Mc Donald E (COO), Government Employees Pension Fund 45.23%
van Biljon J (CFO) Specialised Listed Infrastructure Equity 34.90%
MAJOR ORDINARY SHAREHOLDERS as at 31 Dec 2024 Bunter Capital (Pty) Ltd. 5.10%
Resilient REIT Ltd. 30.42% POSTAL ADDRESS: Postnet Suite 43, Private Bag X1, Melrose Arch, 2076
Delsa Investments (Pty) Ltd. 16.80% MORE INFO: www.sharedata.co.za/sdo/jse/MHB
Government Employees Pension Fund 10.51% COMPANY SECRETARY: Fusion Corporate Secretarial Services (Pty) Ltd.
POSTAL ADDRESS: 4th Floor, Office 41, Block A, IL-Piazzetta, Tower TRANSFER SECRETARY: Computershare Investor Services (Pty) Ltd.
Road, Sliema, Malta, SLM 1605 SPONSOR: Questco Corporate Advisory (Pty) Ltd.
MORE INFO: www.sharedata.co.za/sdo/jse/LTE AUDITORS: BDO South Africa Inc.
COMPANY SECRETARY: Stonehage Fleming Malta Ltd. CAPITAL STRUCTURE Authorised Issued
TRANSFER SECRETARY: JSE Investor Services (Pty) Ltd. MHB Ords no par val 6 000 000 000 55 151 000
SPONSOR: Java Capital (Pty) Ltd.
AUDITORS: PwC Malta DISTRIBUTIONS [ZARc]
CAPITAL STRUCTURE Authorised Issued Ords no par val Ldt Pay Amt
28 Jul 25
LTE Ords no par val 100 000 000 000 2 089 010 218 Final No 16 22 Jul 25 13 Jan 25 15.00
20.00
Interim No 15
7 Jan 25
DISTRIBUTIONS [EURc] LIQUIDITY: Oct25 Avg 54 161 shares p.w., R221 793.7(5.1% p.a.)
Ords no par val Ldt Pay Amt
Interim No 18 2 Sep 25 11 Sep 25 1.31 MAHUBE 40 Week MA EQII
Final No 17 8 Apr 25 24 Apr 25 1.35 1400
LIQUIDITY: Oct25 Avg 9m shares p.w., R70.0m(21.5% p.a.) 1200
LIGHTPROP 40 Week MA REDS 1000
1600
1400 800
1200 600
1000
400
2021 2022 2023 2024
800
600 FINANCIAL STATISTICS
Feb 25 Feb 24 Feb 23 Feb 22 Feb 21
400 (R ’000)
2021 2022 2023 2024 2025 Final Final Final Final Final
Revenue 49 767 68 172 - 14 058 78 881 44 663
FINANCIAL STATISTICS Op Inc 33 811 53 071 - 29 449 65 909 30 320
Jun 25 Dec 24 Dec 23 Dec 22 Dec 21
(EUR ’000) NetIntPd(Rcvd) - - 30 117 189
Interim Final Final(rst) Final Final(rst) Att Inc 33 785 52 860 - 29 607 65 592 11 976
NetRent/InvInc 69 541 108 214 80 209 77 014 35 729 TotCompIncLoss - - - - 11 976
Total Inc 69 541 111 876 80 209 77 014 35 929 Fixed Ass 54 40 23 90 204
Attrib Inc 29 039 64 942 385 352 25 155 - 46 485 Tot Curr Ass 17 650 32 029 12 514 52 478 41 863
TotCompIncLoss 28 575 46 305 403 790 33 951 - 45 453 Ord SH Int 591 697 579 973 546 416 618 489 585 988
Ord UntHs Int 882 079 855 297 760 140 356 920 355 462 LT Liab - - - - 561
Investments 52 246 - - - 15 555 Tot Curr Liab 1 032 1 442 957 1 715 1 708
FixedAss/Prop 1 431 788 1 182 935 786 690 778 935 581 927 PER SHARE STATISTICS (cents per share)
Tot Curr Ass 112 905 151 034 187 862 39 205 37 533 HEPS-C (ZARc) 61.26 95.85 - 53.68 118.93 21.71
Total Ass 1 611 949 1 396 751 1 208 274 840 903 639 060 DPS (ZARc) 35.00 55.00 45.00 60.00 50.00
Tot Curr Liab 46 788 39 984 121 282 49 741 29 758 NAV PS (ZARc) 1 073.00 1 052.00 991.00 1 121.00 1 063.00
PER SHARE STATISTICS (cents per share) 3 Yr Beta 0.90 0.71 0.02 - 0.19 - 0.33
HEPS-C (ZARc) 28.77 41.44 70.77 33.90 - 34.63 Price High 500 650 650 650 550
DPS (ZARc) 26.84 50.75 55.59 53.36 51.67 Price Low 365 402 480 450 240
NAV PS (ZARc) 888.41 834.36 849.66 463.28 405.83 Price Prd End 400 421 610 600 500
3 Yr Beta 0.86 0.94 0.86 1.21 1.23 RATIOS
Price Prd End 813 803 735 680 900 Ret on SH Fnd 5.71 9.11 - 5.42 10.61 2.04
Price High 883 861 792 994 920 Oper Pft Mgn 67.94 77.85 209.48 83.55 67.89
Price Low 715 715 405 505 600 Current Ratio 17.10 22.21 13.08 30.60 24.51
RATIOS Div Cover 1.75 1.74 - 1.19 1.98 0.43
RetOnSH Funds 6.44 5.38 50.58 8.57 - 11.12
RetOnTotAss 8.90 8.48 7.28 9.16 - 5.47
Debt:Equity 0.75 0.57 0.48 1.00 0.60
OperRetOnInv 9.37 9.15 10.20 9.89 5.98
OpInc:Turnover 100.00 100.00 100.00 100.00 100.00
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