| Marshall Monteagle PLC |
| Introduction |
| The Company holds portfolios of leading investments in the U.S.A., U.K., Europe and the Far East as well as commercial properties in South Africa. The Group’s import and distribution businesses operate internationally, and in South Africa, it has interests in food processing and logistics. |
| Headlines |
- Group revenue from continuing operations decreased 15% to US$40,172,000 compared to the six months to 30 September 2023. In constant currency terms, revenue on continuing operations decreased by 17% to US$39,533,000.
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- Profit before tax on trading and property operations increased by 325% to US$1,697,000 compared to the six months to 30 September 2023.
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- Profit after tax on continuing operations for the period was US$2,493,000, compared to a profit after tax of US$625,000 for the six months to 30 September 2023. In constant currency terms, the profit was US$2,505,000.
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- Available cash and cash equivalents have increased by 5% to US$43,791,000 compared to 31 March 2024 mainly due to cash released from the investment portfolio.
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- Headline and basic earnings per share on continuing and discontinuing operations were 6.2 cents per share compared to earnings of 2.2 cents per share in the six months to 30 September 2023.
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- Headline and basic earnings per share on continuing operations were 7.0 cents compared to basic earnings of 1.7 cents per share in the six months to 30 September 2023.
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- An interim dividend of 2.0 cents per share will be paid on Friday, 24 January 2025 (30 September 2023 – 1.9 cents).
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- Net assets per share increased to 2.54 cents from 2.46 cents on 31 March 2024.
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| Dividend declaration |
| We are pleased to announce that the Company is to pay a gross interim dividend of 2.0 cents (35.57780 South African cents) per share. The dividend is payable on Friday, 24 January 2025 to shareholders on the register at the close of business on Friday, 10 January 2025. |
| Shareholders on the South African register will receive their interim dividend in South African Rand converted from US dollars at the closing rate of exchange on Thursday, 12 December 2024. To comply with the requirements of Strate, the relevant details are as follows |
| Shareholders are hereby advised that the exchange rate to be used will be USD 1 = ZAR 17.78890. This has been calculated as the average of the bid/ask spread at 16.00 (United Kingdom time) being the close of business on Thursday, 12 December 2024 |
| In respect of the normal gross cash dividend of 2.0 cents (35.57780 South African cents), and terms of the South African Tax Act, the following dividend tax ruling only applies to those shareholders who are registered on the South African register at the close of business on Friday, 10 January 2025. All other shareholders are exempt. The gross dividend is for the six months ended 30 September 2024 and will be paid on Friday, 24 January 2025. |
| · The dividend has been declared from income reserves, which funds are sourced from the Jersey holding company’s main bank account in Switzerland and is therefore deemed a foreign dividend. |
| · The dividend withholding tax rate is 20% resulting in a net dividend of 1.60000 cents (28.46224 South African cents) per share to those shareholders who are not exempt from the dividend withholding tax. |
| The issued number of shares at the declaration date is 35,857,512. The Company’s Jersey tax number is CH4513/TIN 101-580-5936. |
| Salient dates for dividend |
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| Last day to trade |
Tuesday, 7 January 2025 |
| Shares trade ex-dividend |
Wednesday, 8 January 2025 |
| Record date (date shareholders recorded in books) |
Friday, 10 January 2025 |
| Pay date |
Friday, 24 January 2025 |
No dematerialisation or re-materialisation of share certificates, nor transfer of shares between the registers in Jersey and South Africa will take place between Wednesday, 8 January 2025 and Friday, 10 January 2025, both dates inclusive. |
| Full Announcement |
| This short-form announcement is the responsibility of the Directors of the Company and is a summary of the information in the full announcement and does not contain full or complete details. |
| Any investment decision should be based on the full announcement which is available on the following website: JSE website: https://senspdf.jse.co.za/documents/2024/jse/isse/mmp/mmpint.pdf |
| For the full document click the link below: |
| Marshall Monteagle plc |
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