Subsequent events

Dividend declared

The Board declared a cash dividend with scrip alternative of 100 South African cents per share (approximately 7.1 US cents per share), which is in excess of the amount determined under the policy. This decision was informed by the strength of the balance sheet and enhanced liquidity in the Group, positive operating profitability across all divisions of the Group and the cautiously optimistic trading outlook for the Group.

On 31 March 2021, Logicalis acquired a 70% stake in Áudea, a Spanish company which specialises in cyber security and regulatory compliance, for a consideration of US$2.0 million.

On 1 March 2021, Logicalis Group’s 65% subsidiary PLLAL exercised its option to acquire an additional interest of 20.1% in Kumulus for US$1.2 million. Kumulus will continue to be equity accounted for in the Group’s results because the Group does not have management control.

There were no events that occurred subsequent to the reporting date that require disclosure or adjustment to these financial statements.