Page 33 - Profile's Stock Exchange Handbook - 2025 Issue 4

Profile’s Stock Exchange Handbook: 2025 - Issue 4 NSX - STI
Stimulus Investments Ltd. Tadvest Ltd.

ISIN: NA000A1JN0Z7 SHORT: STIMULUS CODE: SILP ISIN: MU0510N00001 SHORT: TADVEST CODE: TAD
REG NO: 2004/482 FOUNDED: 2004 LISTED: 2004 REG NO: 126446 FOUNDED: 2016 LISTED: 2016
NATURE OF BUSINESS: Stimulus Investments Ltd. focuses on NATURE OF BUSINESS: Tadvest Ltd. invests in attractive, high
acquiring investments in established, high cash generating growth, cash generative assets, providing Shareholders with a
businesses in Namibia, which require empowerment credentials, combination of sustainable capital and income growth, through
whilst also targeting more traditional private equity opportunities a portfolio that consists of private equity investments, listed
in promising businesses with potential to deliver superior returns. investments and investment properties.
The company was funded by issuing preference shares to the market SECTOR: Fins--FinServcs--ClosedEndInvstmnts--ClosedEndInvstmnts
through the Namibia Securities Exchange (NSX). The company’s NUMBER OF EMPLOYEES: 0
returns are allocated between the preference shareholders and DIRECTORS: Chambers I, Coowar B S, Marianen D, Neser C B (ne),
ordinary shareholders, based on a private equity principle, whereby Savage D (ne)
the preference shareholders are allocated 80% of the returns and the POSTAL ADDRESS: 7th Floor, Tower 1, NeXteracom Cybercity,
ordinary shareholders 20%, subject to the preference shareholders Ebene, Mauritius, 72201
achieving a specified hurdle return. If the company returns are MORE INFO: www.sharedata.co.za/sdo/jse/TAD
below the hurdle rate, all returns are allocated to the preference COMPANY SECRETARY: Safyr Utilis Fund Services Ltd.
shareholders. The company operates principally in Namibia. TRANSFER SECRETARY: Transfer Secretaries (Pty) Ltd.
SECTOR: Add--Debt--Preference Shares--Pref Shares SPONSOR: Safyr Capital Partners Ltd.
NUMBER OF EMPLOYEES: 0 AUDITORS: Lancasters Chartered Accountants
DIRECTORS: Geingos M (ne), Mcleod E I (ind ne), Okafor C (ind ne), CAPITAL STRUCTURE Authorised Issued
Koep P F (Chair, ind ne, Namibia), Mwatotele J S (CEO) TAD Ords no par val - 51 544 995
POSTAL ADDRESS: PO Box 97438, Windhoek, Namibia
MORE INFO: www.sharedata.co.za/sdo/jse/SILP
COMPANY SECRETARY: MMM Consultancy CC TADVEST 40 Week MA 1900
TRANSFER SECRETARY: Transfer Secretaries (Pty) Ltd. 1800
CAPITAL STRUCTURE Authorised Issued 1700
SILP Pref shares - 4 650 786 1600
1500
STIMULUS 40 Week MA
12802
1400
12800
1300
12798
12796 2021 2022 2023 2024 2025 1200
12794
12792 FINANCIAL STATISTICS
12790 Jun 25 Dec 24 Dec 23 Dec 22 Dec 21
(USD ’000)
12788 Interim Final Final Final Final
NetRent/InvInc - 80 385 196 162 - 218
12786
2021 2022 2023 2024 2025
Total Inc 4 090 7 992 6 312 1 706 9 206
FINANCIAL STATISTICS Attrib Inc 4 086 7 982 6 248 1 631 9 156
6 248
9 156
1 631
7 982
4 086
TotCompIncLoss
Feb 25 Feb 24 Feb 23 Feb 22 Feb 21
(NAD ’000) Ord UntHs Int 86 642 82 557 74 574 68 327 66 696
Final Final Final Final Final
Turnover 25 088 29 708 17 373 19 566 21 291 Investments - 76 536 67 818 62 088 -
Op Inc 108 925 76 792 84 377 10 710 1 318 FixedAss/Prop 77 646 5 420 - 6 026 - 6 287 - 54 768
9 068
Tot Curr Ass
11 957
NetIntPd(Rcvd) 59 270 76 797 84 359 10 686 28 478
Att Inc 49 755 - - - - 27 186 Total Ass 86 714 82 750 74 625 68 375 66 725
TotCompIncLoss 49 755 - - - - 27 186 Tot Curr Liab 72 193 51 48 29
Inv & Loans 626 419 503 690 467 492 601 358 598 361 PER SHARE STATISTICS (cents per share)
Tot Curr Ass 32 263 50 769 40 992 47 423 47 360 NAV (ZARc) 3 421.35 3 475.76 3 037.80 2 604.06 2 376.55
Ord SH Int 49 756 1 1 1 1 3 Yr Beta - 0.37 - 0.39 - 0.39 - 0.41 - 0.44
LT Liab 755 638 707 707 647 144 - - Price Prd End 1 619 1 653 1 684 1 546 1 447
Tot Curr Liab 13 166 18 713 3 955 9 729 9 630 Price High 1 808 1 746 1 877 1 678 1 481
PER SHARE STATISTICS (cents per share) Price Low 1 608 1 641 1 521 1 316 1 226
DPS (ZARc) 283.00 402.00 1 692.00 200.00 207.00 RATIOS
NAV PS (ZARc) 16 531.00 15 619.00 13 991.00 13 940.00 13 884.00 RetOnSH Funds - 9.67 8.38 2.39 13.73
3 Yr Beta - - - - 0.03 - 0.03 RetOnTotAss - 9.66 8.46 2.50 13.80
Price High 12 801 12 790 12 790 12 790 12 791 OperRetOnInv - 0.50 0.29 0.26 - 0.40
Price Low 12 790 12 790 12 790 12 790 12 780 OpInc:Turnover - 80.00 43.02 36.03 27.93 - 161.48
Price Prd End 12 801 12 790 12 790 12 790 12 790
RATIOS
Ret on SH Fnd 100.00 - - - - 4.27
Oper Pft Mgn 434.17 258.49 485.68 54.74 6.19
D:E 15.19 707 707.00 647 144.00 - -
Current Ratio 2.45 2.71 10.36 4.87 4.92
Div Cover 3.78 - - - - 2.82
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