MARSHALL MONTEAGLE PLC - Summarised results for the interim period ended 31st March 2021 and dividend declaration

Summarised results for the interim period ended 31st March 2021 and dividend declaration

Marshall Monteagle PLC
(Incorporated in Jersey)
(Registration number: 102785)
(External registration number: 2010/024031/10)
JSE Code: MMP ISIN: JE00B5N88T08
(“the Company” or “the Group”)

Summarised results for the interim period ended 31st March 2021 and dividend declaration

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 the U.S.A. and South Africa. The Group’s import and distribution businesses
operate internationally, and in South Africa it has interests in food processing and logistics.


Highlights
    • Group revenue from continuing operations increased 32% to US$82,843,000 compared to the restated
    revenue from continuing operations for the same period last year. In constant currency terms revenue on
    continuing operations increased by 31% to US$82,363,000.
    • Profit for the period was US$1,507,000, compared to a loss after tax of US$2,979,000 for the same
    period last year. In constant currency terms, the profit was US$1,524,000.
    • Headline earnings were US$7.2 cents per share compared to restated loss of US$14.3 cents per share
    in the same period last year.
    • Basic earnings per share was US$2.9 cents compared to a loss of US$8.4 cents per share in the same
    period last year.
    • An interim dividend of US$1.9 cents per share will be paid on 30th July 2021 (30th September 2020 –
    US$1.9 cents).


Dividend declaration

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, 24th June 2021. In order 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 14.2613. 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, 24th June 2021.

In respect of the normal gross cash dividend of US$1.9 cents (27.09647 South African cents), and in terms of
the new South African Tax Act, the following dividend tax ruling only applies to those shareholders who are
registered on the South African register at close of business on Friday, 23rd July 2021. All other shareholders
are exempt. The gross dividend is for the six-month period ended 31st March 2021 and will be paid on Friday,
30th July 2021.

•   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 US$1.52000 cents (21.67718 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.

Salient dates for dividend
Last day to trade                                                          Tuesday, 20th July 2021
Shares trade ex-dividend                                                 Wednesday, 21st July 2021
Record date (date shareholders recorded in books)                            Friday, 23rd July 2021
Pay date                                                                     Friday, 30th July 2021

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, 21st July 2021 and Friday, 23rd July 2021, 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 which is available for viewing on the following website:

JSE website: https://senspdf.jse.co.za/documents/2021/jse/isse/mmp/mmp2021.pdf

Any investment decision should be based on consideration of the full announcement, copies of which are
available for inspection, at no charge from:

Registered Office                                                                 Company Secretary
2nd Floor, 66-72 Esplanade                                                           City Group PLC
Gaspé House                                                                               1 Ely Place
St Helier                                                                                     London
Jersey                                                                                    EC1N 6RY
JE1 1 GH

Or:

South Africa
11 Sunbury Park
La Lucia Ridge Office Estate
La Lucia
4051

By order of the Board:


CITY GROUP PLC
Company Secretary


30th June 2021
London

Sponsor
Sasfin Capital (a member of the Sasfin group)

Date: 30-06-2021 07:05:00
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