Details of the final dividend declared are provided in note 5.5.
Subsequent to 31 December 2024, the following notable events occurred:
On 17 February 2025, Cennergi Holdings, a wholly owned subsidiary of Exxaro, in partnership with G7 Renewable Energies Proprietary Limited, reached financial close on the 140MW Karreebosch project. Karreebosch has a 20-year Power Purchase Agreement with Northam Platinum Limited. Cennergi Holdings acquired 80% of the share capital in Karreebosch as well as 50% of the share capital in Karreebosch Asset Management Proprietary Limited. The total investment cost of the project is anticipated to be R4.7 billion which will in majority be funded with project financing from Nedbank, Absa Bank and Standard Bank with the financial structure set up to ensure long-term sustainability, as well as limited recourse to the Exxaro balance sheet.
At the time of approving the group and company annual financial statements 2024, Exxaro was still in the process of completing the accounting assessment and valuation of the Karreebosch project against the requirements of IFRS 3 Business Combinations.
On 11 March 2025, the board approved a share repurchase programme to the value of R1.2 billion, subject to prevailing market conditions and the JSE Listings Requirements.
The directors are not aware of any other significant matter or circumstance arising after the reporting period up to date of this report, not otherwise dealt with in this report.
IR