Our opinion on the current state of IBX

Ibex Investments is a wholly-owned subsidiary of Ibex Topco B.V. and is the issuer of variable rate, cumulative, non-redeemable, non-participating preference shares with a capital value of R1.5 billion. The preference shares are listed on the JSE. In a trading statement for the year ended 30 September 2023, headline earnings per ordinary share is expected to be a profit of between 1423.0 cents and 940.0 cents compared to a profit of 26 796.4 cents in the previous corresponding period, which equates to a decrease of between 95% and 96%.