Wrap Text
Reviewed Consolidated Condensed Results and Cash Dividend Declaration for the Year Ended 31 March 2024
eMedia Holdings Limited
(Incorporated in the Republic of South Africa)
(Registration number 1968/011249/06)
Ordinary shares (share code: EMH ISIN: ZAE000208898)
N ordinary shares (share code: EMN ISIN: ZAE000209524)
(eMedia Group)
REVIEWED CONSOLIDATED CONDENSED RESULTS AND CASH DIVIDEND DECLARATION FOR THE YEAR ENDED 31 MARCH 2024
March 2024 March 2023 %
R000's R000's movement
Revenue 3 059 299 3 125 051 (2.1)
Operating Profit 490 873 531 116 (7.6)
Profit from the year from continuing operations 333 871 381 044 (12.4)
Profit for the year 333 871 377 688 (11.6)
Net asset value per share (cents)* 645 633 1.9
Basic Earnings/(Loss) per Share (cents) 50.72 57.47 (11.7)
Headline earnings/(loss) per Share (cents) 50.68 57.41 (11.7)
Dividend Declared per share (cents) 16.00 20.00 (20.0)
*Restated
eMedia presents a satisfactory financial performance for the 2024 financial year given its mitigation against continued
loadshedding, which had a negative impact on overall viewership and saw a further decline in television advertising
spend of approximately 1%. The actors and writers' strike in Hollywood at the beginning of the financial year also had
a severe negative impact on one of the subsidiaries in the Group, Media Film Service, which made R31.5m less in Profit
after Tax when compared to the prior year. The Group also continued its legal battles against Multichoice during the
current financial year spending R8.8 million more in the current year when compared to the prior year.
Notwithstanding all the negative impacts to business operations in the macro-economic environment in South Africa, the
Group was able to return favourable results and further continues with the declaration of dividends to its shareholders
with a dividend of 16.00000 cents per share at the close of the financial year.
The directors of eMedia Holdings have resolved to declare a final cash dividend for the year ended 31 March 2024 of
16.00000 cents per share (2023: 20.00000 cents) paid from income reserves. The dividend to shareholders relates to the
ordinary shares (share code: EMH) and N ordinary shares (share code: EMN). The dividend will be subject to a local
dividend withholding tax at a rate of 20%, which will result in a net final dividend to those shareholders not exempt
from paying dividend withholding tax of 12.800000 cents per ordinary share and 16.00000 cents per ordinary share for those
shareholders who are exempt from dividend withholding tax. In terms of dividend withholding tax legislation, any dividend
withholding tax amount due will be withheld and paid over to the South African Revenue Service by a nominee company,
stockbroker or Central Securities Depository Participant (collectively "regulated intermediary") on behalf of shareholders.
All shareholders should declare their status to their regulated intermediary as they may qualify for a reduced dividend
withholding tax rate or exemption.
The salient dates for the payment of the dividend are as follows:
Last day to trade cum dividend: Tuesday, 11 June 2024
Commence trading ex dividend: Wednesday, 12 June 2024
Record date: Friday, 14 June 2024
Payment date: Tuesday, 18 June 2024
Share certificates may not be dematerialised nor rematerialised between Wednesday, 12 June 2024 and Friday, 14 June 2024 both
dates inclusive.
No of Ordinary shares: 63 810 244 Thursday, 23 May 2024
No of N shares: 381 927 359 Thursday, 23 May 2024
This reviewed short-form announcement is the responsibility of the directors and is only a summary of the information in the
full announcement and does not contain full or complete details.
The condensed consolidated financial information for the year ended 31 March 2024 has been reviewed by BDO South Africa
Incorporated, who expressed an unmodified review conclusion.
Any investment decision should be based on the full announcement, which can be found on the Company's website at
http://www.emediaholdings.co.za and also at the following link:
https://senspdf.jse.co.za/documents/2024/jse/isse/EMNE/YE24.pdf
For and on behalf of the board
Mahomed Khalik Sherrif Antonio Lee
Chief Executive Officer Financial director
Directors: JA Copelyn* (chairperson), MKI Sherrif (chief executive officer), AS Lee (financial director), TG Govender*,
Y Shaik*, VE Mphande*^, L Govender*^, RD Watson*^ (Lead Independent)
*Non-executive ^Independent
Company Secretary: HCI Managerial Services Proprietary Limited
Registered Office: 4 Albury Road, Dunkeld West, Hyde Park, Johannesburg, 2196, Private Bag X9944, Sandton, 2146
Sponsor: Investec Bank Limited, 100 Grayston Drive, Sandton, Sandown, 2196
Transfer Secretary: Computershare Investor Services Proprietary Limited, Rosebank Towers, 15 Biermann Avenue,
Rosebank, 2196
PO Box 61051, Marshalltown, 2107
Auditors: BDO South Africa Incorporated, Wanderers Office Park, 52 Corlett Drive, Illovo, 2196, Private Bag X10046,
Sandton, 2146
23 May 2024
Date: 23-05-2024 12:05:00
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The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
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