Marshall Monteagle : Summarised audited results for the year ended 31 March 2022 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")

Summarised audited results for the year ended 31 March 2022 and dividend declaration

Marshall Monteagle is an Investment Company. It is listed on the Johannesburg Stock Exchange and has a broad and diversified range of investments. The investments fall broadly into the following categories:

• Blue Chip International listed companies;
• Industrial Property in the United States of America and South Africa; and
• Financing and Trading Companies that operate on an international basis.

The Company's objective is to invest for the long term to generate reliable profits, cash flow and dividends for our shareholders; thereby achieving capital growth for the benefit of all stakeholders. The performance of the Group's investments is monitored and regularly reviewed by the Board.

The 18 month period has seen significant and increased challenges for the Group, brought on by the Covid-19 pandemic, but also has brought new opportunities. These include choices such as the option (and at times the need) to meet remotely via Microsoft Teams, Zoom or otherwise. This has led to increased efficiencies at a reduced cost, the virtue of an awareness of climate change and the value of preserving our planet. The pandemic has highlighted the need for companies to be able to adapt to change quickly with minimal disruption to operations and the Group has risen to this challenge admirably throughout this period.

Salient Features

	%	18 months to 31	12 months to 30
	change	March 2021	September 2020
Total revenue	67.29%	$201,123	$120,219
Operating profit	549%	$12,562,000	$1,935,000
Profit before tax	130%	$8,142,000	$3,547,000
Basic earnings (rands)	1,180%	ZAR1.87	ZAR0.1669
Headline earnings (rands)	416%	ZAR1.154	ZAR(0.417)
Basic earnings (cents per share)	1,180%	12.8c	1.0c
Headline earnings (cents per share)	416%	7.9c	(2.5)c
Weighted average number of ordinary shares		35,857,512	35,857,512

Dividend

The Directors have declared a final gross dividend for the year ended 31 March 2022 of US 1.90000 cents per share (30. 096 ZAR cents per share). The dividend will be paid on Friday 29 July 2022 to those shareholders registered at the close of business on Friday 22 July 2022.

Shareholders on the South African register will receive their dividend in South African Rand converted from US Dollars at the closing rate of exchange on Tuesday, 21 June 2022 which was US$1 = ZAR 15.84000).

In respect of the normal gross cash dividend, and in 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 on Friday 22 July 2022. All other shareholders are exempt.

• The dividend has been declared from income reserves, which funds are sourced from the Jersey holding company's main bank account in Switzerland.
• The gross dividend in ZAR cents is 30.096 cents.
• The dividend withholding tax rate is 20% resulting in a net dividend of US 1.52000 cents (24.0768 ZAR cents) per share to those shareholders who are not exempt from the dividend withholding tax.

The issued number of shares as at declaration date is 35,857,512.

The Company's Jersey tax number is CH4513.
Salient dates for the dividend:
Last day to trade	Tuesday 19 July 2022
Shares trade ex-dividend	Wednesday 20 July 2022
Record date	Friday 22 July 2022
Pay date	Friday, 29 July 2022

No dematerialisation or rematerialisation of share certificates, nor transfer of shares between the registers in Jersey and South Africa will take place between Wednesday 20 July 2022 and Friday 22 July 2022, both dates inclusive.

Audit Report

This report for the year ended 31 March 2022 was prepared under the supervision of the Financial Director, Mr E.J. Beale. Although these financial results were themselves not audited they are extracted from the consolidated and company annual financial statements which were audited by Grant Thornton Limited who issued an unmodified audit opinion on the financial statements. Their audit opinion, together with the audited annual financial statements, can be viewed at www.city-group.com/london-finance-investment-group-plc/marshall-monteagle-plc/which also provides more details on the key audit matters on pages 58 to 63 of the annual financial statements. The audited Annual Report will be mailed to shareholders on 30th June 2022.

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/2022/jse/isse/mmp/mmp18.pdf

Any investment decision by investors and/or shareholders should be based on consideration of the full announcement, copies of which are also available for inspection at our offices and available from the company secretary at: [e-mail] business days, during business hours, at no charge:

On behalf of the Board

United Kingdom

24 June 2022

JSE Sponsor to the Company

Questco Corporate Advisory Proprietary Limited