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Review pending. Every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (9 October 2026). Independent review has not yet been carried out, and these pages are not indexed.AI-assisted source check done; independent review pending; not indexed. About the review

Arbitrage Holdings

4AARB · Cape Town Stock Exchange (incl. former 4AX) · Incorporated in South Africa · Company statements

On this page
Company details
Legal name
Arbitrage Holdings Ltd
Incorporated in
South Africa
Listing
4AARB on the Cape Town Stock Exchange (incl. former 4AX), active · ISIN ZAE400000267 (observed 2026-10-08)
Sector
Not classified (our classification from the stated principal activity)
Financial year ends
28 February

Overview

Year ended 28 February 2025 · annual report, final status not established · source

Read with these figures

  • Annual report not confirmed as final. The published copy is not confirmed as the final version. The FY to 28 Feb 2025 figures come from it.
Full wording and sources

  • Annual report for 2025: final status not established

    No independent auditor's report is included in this document: the index (PDF p2) lists none, and no page carries an audit opinion. The directors' report names Louis Jonker Chartered Accountants as independent auditors for the year (PDF p16), and the audit committee report refers to recommending 'the independent auditor's report and annual financial statements for Board approval during our meeting on 31 August 2024' (PDF p9, as printed), but the report itself is not shown. The annual financial statements (printed pages 16 to 38) were approved by the directors and signed on 7 July 2025, with handwritten signatures of J Kotze and R Swart (PDF p5, page image) and PC de Jager, CKN Tlale, IM Rautenbach, K Seoloane and TM Ntseare (PDF p6, page image).

    Source: Arbitrage Holdings Ltd Annual Financial Statements for the year ended 28 February 2025 (dated 2025-07-07)

  • Revenue

    ZAR 0

    0 ZAR units · p18

    −100.0% vs 2024

  • Operating profit / (loss)

    −ZAR 14.4 million

    (14,400,870) ZAR units · p18

    Moved from profit to loss (FY to 29 Feb 2024: 231,922,722 ZAR units)

  • Profit / (loss) for the year

    ZAR 79.6 million

    79,596,909 ZAR units · p18

    −55.8% vs 2024

  • Total assets

    ZAR 1.17 billion

    1,165,956,758 ZAR units · p17

    +0.8% vs 2024

  • Total equity

    ZAR 997 million

    997,058,091 ZAR units · p17

    +9.3% vs 2024

  • Cash from operations

    −ZAR 5.54 million

    (5,538,991) ZAR units · p20

    −102.4% vs 2024

Large amounts are rounded for reading (ZAR million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.

Financial statements

Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in ZAR units unless the row says otherwise; brackets are negative.

† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table

Column sources

  • FY to 28 Feb 2025 — annual report, final status not established; reported for the year · source
  • FY to 29 Feb 2024 — annual report, final status not established; comparative in the FY to 28 Feb 2025 filing · source

Income statement

Income statement, ZAR units. Columns: FY to 28 Feb 2025 — annual report (final status not established), as reported for the year; FY to 29 Feb 2024 — annual report (final status not established), comparative reported in the annual report for 2025.
Line (as printed) FY to 28 Feb 2025Annual reportreported for the yearFY to 29 Feb 2024Annual reportcomparative in FY to 28 Feb 2025 filing
Revenue –1 4,258,438
Other income –1 239,922,050
Administrative expenses (127,985) (365,720)
Other expenses (14,272,885) (11,892,046)
(Loss) / profit from operating activities (14,400,870) 231,922,722
Finance income –2 200
(Loss) / profit before tax (14,400,870) 231,922,922
Income tax credit / (expense) 93,997,779 (51,823,163)
Profit for the year 79,596,909 180,099,759
  1. Printed “-”, read as nil: subtotal_arithmetic: is.operating_profit.
  2. Printed “-”, read as nil: subtotal_arithmetic: is.profit_before_tax.

Balance sheet

Balance sheet, ZAR units. Columns: FY to 28 Feb 2025 — annual report (final status not established), as reported for the year; FY to 29 Feb 2024 — annual report (final status not established), comparative reported in the annual report for 2025.
Line (as printed) FY to 28 Feb 2025Annual reportreported for the yearFY to 29 Feb 2024Annual reportcomparative in FY to 28 Feb 2025 filing
Intangible assets 45,922,698 45,922,698
Invested companies1 1,117,111,887 1,109,071,894
WIP Project expenses2 1,684,150 –3
Total non-current assets 1,164,718,735 1,154,994,592
Trade and other receivables 579,991 39,357
Cash and cash equivalents 658,032 1,281,000
Total current assets 1,238,023 1,320,357
Total assets 1,165,956,758 1,156,314,949
Issued capital 210,701,682 205,701,682
Retained income 786,356,409 706,759,500
Total equity 997,058,091 912,461,182
Deferred tax liabilities 113,885,032 207,882,810
Shareholders' loans4 9,640,166 –5
Total non-current liabilities 123,525,198 207,882,810
Provisions 34,830,000 35,000,000
Trade and other payables 10,543,469 970,957
Total current liabilities 45,373,469 35,970,957
Total liabilities 168,898,667 243,853,767
Total equity and liabilities 1,165,956,758 1,156,314,949
  1. Printed “-”, read as nil: subtotal_arithmetic: bs.non_current_assets.
  2. Printed “-”, read as nil: subtotal_arithmetic: bs.non_current_liabilities.
Notes and alternative reported figures (3)
  1. “Invested companies” is an issuer-specific line, not mapped to a shared definition: Note 7: investments in invested companies (subsidiaries listed in Annexure A4), non-current.
  2. “WIP Project expenses” is an issuer-specific line, not mapped to a shared definition: Note 8: project expenses carried as work in progress, non-current.
  3. “Shareholders' loans” is an issuer-specific line, not mapped to a shared definition: Note 13: loans from shareholders, non-current.

Cash flow

Cash flow, ZAR units. Columns: FY to 28 Feb 2025 — annual report (final status not established), as reported for the year; FY to 29 Feb 2024 — annual report (final status not established), comparative reported in the annual report for 2025.
Line (as printed) FY to 28 Feb 2025Annual reportreported for the yearFY to 29 Feb 2024Annual reportcomparative in FY to 28 Feb 2025 filing
Adjustments for income tax expense1 (93,997,779) 51,823,162
Adjustments for finance income2 –3 (200)
Adjustments for (increase) / decrease in other operating receivables4 (540,634) 51,522
Adjustments for decrease in trade accounts payable5 (264,176) (1,028,535)
Adjustments for increase in other operating payables6 9,836,688 –3
Adjustments for provisions7 (170,000) –3
Total adjustments to reconcile profit8 (85,135,901) 50,845,949
Net cash flows (used in) / from operations (5,538,992) 230,945,708
Interest received –9 200
Deferred tax impact of other comprehensive income10 1 –9
Net cash flows (used in) / from operating activities (5,538,991) 230,945,908
Purchase of other financial assets11 (9,724,143) (362,816,325)
Cash flows used in investing activities (9,724,143) (362,816,325)
Proceeds from issuing shares12 5,000,000 132,700,000
Proceeds from other financial liabilities13 9,640,166 –14
Cash flows from financing activities 14,640,166 132,700,000
Net (decrease) / increase in cash and cash equivalents (622,968) 829,583
Cash and cash equivalents at beginning of the year 1,281,000 451,417
Cash and cash equivalents at end of the year 658,032 1,281,000
  1. Printed “-”, read as nil: subtotal_arithmetic: cf.native.co_bv34df1f2362.total_adjustments_to_reconcile_profit.
  2. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_operations.
  3. Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_financing.
Notes and alternative reported figures (11)
  1. “Adjustments for income tax expense” is an issuer-specific line, not mapped to a shared definition: Indirect-method adjustment.
  2. “Adjustments for finance income” is an issuer-specific line, not mapped to a shared definition: Indirect-method adjustment.
  3. “Adjustments for (increase) / decrease in other operating receivables” is an issuer-specific line, not mapped to a shared definition: Working-capital adjustment.
  4. “Adjustments for decrease in trade accounts payable” is an issuer-specific line, not mapped to a shared definition: Working-capital adjustment.
  5. “Adjustments for increase in other operating payables” is an issuer-specific line, not mapped to a shared definition: Working-capital adjustment.
  6. “Adjustments for provisions” is an issuer-specific line, not mapped to a shared definition: Indirect-method adjustment.
  7. “Total adjustments to reconcile profit” is an issuer-specific line, not mapped to a shared definition: Indirect-method adjustments to profit for the year.
  8. “Deferred tax impact of other comprehensive income” is an issuer-specific line, not mapped to a shared definition: Printed within operating activities (2025: 1).
  9. “Purchase of other financial assets” is an issuer-specific line, not mapped to a shared definition: Investing activities.
  10. “Proceeds from issuing shares” is an issuer-specific line, not mapped to a shared definition: Financing activities.
  11. “Proceeds from other financial liabilities” is an issuer-specific line, not mapped to a shared definition: Financing activities.

Per share and shares

Per share and shares. Columns: FY to 28 Feb 2025 — annual report (final status not established), as reported for the year; FY to 29 Feb 2024 — annual report (final status not established), comparative reported in the annual report for 2025.
Line (as printed) FY to 28 Feb 2025Annual reportreported for the yearFY to 29 Feb 2024Annual reportcomparative in FY to 28 Feb 2025 filing
Earnings / (loss) per share (per share)3 0.11471 0.26032
  1. Printed as 11.47 cents; value converted to ZAR at 100 cents = 1 ZAR.
  2. Printed as 26.03 cents; value converted to ZAR at 100 cents = 1 ZAR.
Notes and alternative reported figures (1)
  1. Earnings / (loss) per share: printed as “Basic and diluted earning/ (loss) per share (cents/share)”.

Segments

Segment data not yet collected for this company in the pilot.

Dividends

Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.

No dividend statement or amount collected.

Sources

Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.

  • Arbitrage Holdings Ltd Annual Financial Statements for the year ended 28 February 2025

    Year ended 28 February 2025 · Annual report · final status not established

    Audit: Louis Jonker Chartered Accountants (named in the directors' report, PDF p16; no report in the document) · no signature page in this document

    Final status: No independent auditor's report is included in this document: the index (PDF p2) lists none, and no page carries an audit opinion. The directors' report names Louis Jonker Chartered Accountants as independent auditors for the year (PDF p16), and the audit committee report refers to recommending 'the independent auditor's report and annual financial statements for Board approval during our meeting on 31 August 2024' (PDF p9, as printed), but the report itself is not shown. The annual financial statements (printed pages 16 to 38) were approved by the directors and signed on 7 July 2025, with handwritten signatures of J Kotze and R Swart (PDF p5, page image) and PC de Jager, CKN Tlale, IM Rautenbach, K Seoloane and TM Ntseare (PDF p6, page image).

    Document date
    7 Jul 2025
    Auditor's report
    date not found in this document
    Board approval
    7 Jul 2025
    Retrieved by us
    8 Oct 2026 (not a publication date)
    Used for
    statement columns FY to 28 Feb 2025, FY to 29 Feb 2024
    Basis
    company statements · ZAR units (printed “Figures in R”)
    • The audit committee report (PDF p9) dates its recommendation of the auditor's report and statements to a meeting on 31 August 2024, before the 28 February 2025 year end; kept as printed.
    • The statement titled 'Statement of Profit or Loss and Other Comprehensive Income' (p18) ends at profit for the year; no other comprehensive income or total comprehensive income line is printed on it (the statement of changes in equity, p19, shows total comprehensive income equal to profit).
    • Company statements only. The company holds subsidiaries (Annexure A4, PDF p41) carried as 'Invested companies' (note 7); no consolidated statements are printed.
    • Earnings per share is printed only in 'Additional information to the financial statements' A1 (PDF p41), outside the pages the directors' approval covers; in cents (11.47; 2024: 26.03), stored in rand with the printed figure and unit kept.
    Technical details
    File
    46 pages, with a text layer
    SHA-256
    3e174afb3dabd2f868204173f9c51eaad800a5f099e52db690ca75ebdb74ada4
    Entity as printed
    Arbitrage Holdings Ltd (Registration Number 2021/732583/06) (the company)
    Exchange copy
    retrieved 2026-10-08T18:04:17Z

Data notes

No figure-level notes beyond those in the tables.

Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (9 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.

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Figures shown on this page (CSV) — the same selected figures at their exact printed values, each with its source document, SHA-256, page, selection rule and reading. Independent review of these figures is pending.

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