Blu Label Unlimited Group Ltd · JSE:BLU
Blu Label Unlimited — Blue Label Telecoms — Corporate Update (October 2022)
17 slides from Blu Label Unlimited's corporate update, Oct 26, 2022
Slide 1: Blue Label Telecoms Update
Conference Call 26 October 2022 BLUE LABEL TELECOMS UPDATE
Slide 2: Agenda
BLUE LABEL TELECOMS UPDATE 26 OCT 2022 2 AGENDA 1 General update 4 Source and use of funds for recapitalisation 2 Cell C debt restructure summary 5 BLT Borrowings pre/post recapitalisation 3 Balance sheet exposure to Cell C
Slide 3: General Update
1 GENERAL UPDATE bluelabeltelecoms.co.za
Slide 4: Cell C Debt Restructure Summary
2 CELL C DEBT RESTRUCTURE SUMMARY bluelabeltelecoms.co.za
Slide 5: Cell C Recapitalisation Exit Offer & Investment Summary
BLUE LABEL TELECOMS UPDATE 26 OCT 2022 5 CELL C RECAPITALISATION EXIT OFFER & INVESTMENT SUMMARY TPC - Reinvestment Non-reinvesting ICA TOTAL DEBT CAPITAL AND DEBT RESTRUCTURE TPC - New money TPC - Total Reinvesting ICA lenders Cents on the ZAR Instrument lenders RESTRUCTURE Debt owing to secured le
Slide 6: TPC Debt Funding to Cell C per FY-End
BLUE LABEL TELECOMS UPDATE 26 OCT 2022 6 TPC DEBT FUNDING TO CELL C PER FY-END TPC - New money and Reinvestment Instrument * 31-May-23 31-May-24 31-May-25 31-May-26 31-May-27 31-May-28 TOTAL Reinvestment amount/opening balance 1 143 743 897 1 396 922 069 1 885 817 944 2 317 040 436 1 373 074 886 1 5
Slide 7: Reinvested Debt – Capital & Interest Summary
BLUE LABEL TELECOMS UPDATE 26 OCT 2022 7 REINVESTED DEBT – CAPITAL & INTEREST SUMMARY Over the tenure of the debt TPC - New money TPC - Reinvestment TPC - TOTAL Reinvesting ICA lenders TOTAL Reinvestment amount/opening balance 1 032 631 724 111 112 173 1 143 743 897 318 757 077 1 462 500 974 Interes
Slide 8: Balance Sheet Exposure to Cell C
3 BALANCE SHEET EXPOSURE TO CELL C bluelabeltelecoms.co.za
Slide 9: Direct Cell C Exposure
BLUE LABEL TELECOMS UPDATE 26 OCT 2022 9 DIRECT CELL C EXPOSURE Excludes ECL and fair value considerations Pre recapitalisation Post recapitalisation (August 2022) (September 2022) Trade receivables 43 319 754 67 310 497 Other receivables 47 100 000 118 565 790 Trade claims acquired - $4m 47 100 000
Slide 10: Indirect Cell C Exposure
BLUE LABEL TELECOMS UPDATE 26 OCT 2022 10 INDIRECT CELL C EXPOSURE Excludes ECL and fair value considerations Pre recapitalisation Post recapitalisation (August 2022) (September 2022) Debt notes in Cedar Cellular Investment 1 (SPV1)* - 25 000 000 Loan to K2021889191 (SPV4) to acquire shares in Cell
Slide 11: Financial Institution & Third-Party Borrowings Exposure
BLUE LABEL TELECOMS UPDATE 26 OCT 2022 11 FINANCIAL INSTITUTION & THIRD- PARTY BORROWINGS EXPOSURE Pre recapitalisation Post recapitalisation (August 2022) (September 2022) Third-party airtime repurchase* - 217 391 304 Bank airtime repurchase* - 1 471 304 348 *As TPC has an obligation to repurchase
Slide 12: Source & Use of Funds for Recapitalisation
4 SOURCE & USE OF FUNDS FOR RECAPITALISATION bluelabeltelecoms.co.za
Slide 13: Application of Funds
BLUE LABEL TELECOMS UPDATE 26 OCT 2022 13 APPLICATION OF FUNDS SOURCE OF FUNDS IN FINANCING THE RECAPITALISATION Bank airtime repurchase 1 692 000 000 Third-party airtime repurchase 250 000 000 Facility A increase (R1.125bn to R1.4bn) 275 000 000 Working capital utilised 585 309 687 TOTAL FUNDS APPL
Slide 14: BLT Borrowings Pre/Post Recapitalisation
5 BLT BORROWINGS PRE/POST RECAPITALISATION bluelabeltelecoms.co.za
Slide 15: BLT Borrowings
BLUE LABEL TELECOMS UPDATE 26 OCT 2022 15 BLT BORROWINGS Pre recapitalisation Post recapitalisation Borrowings Summary of repayment terms (August 2022) (September 2022) Revolving credit facility with drawdowns available until October 2023 Africa Bank Limited 1 719 049 989 1 741 402 157 and final set
Slide 16: Thank You
BLUE LABEL TELECOMS UPDATE 26 OCT 2022 16 THANK YOU bluelabeltelecoms.co.za HEAD OFFICE POSTAL ADDRESS CONTACT 75 Grayston Drive P.O. Box 652261 +27 (0)11 523 3030 Sandton, Johannesburg Benmore [email protected] South Africa 2010 [email protected]
Slide 17: Disclaimer
BLUE LABEL TELECOMS UPDATE 26 OCT 2022 17 DISCLAIMER Forward-looking statements Blue Label Telecoms may, in this document, make certain statements By their very nature, forward-looking statements involve inherent risks that are not historical facts and relate to analyses and other information and un
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