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Summarised audited results for the year ended 31 March 2024 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 2024 and dividend declaration
Marshall Monteagle is an Investment Company. It is listed on the JSE Limited 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 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 of directors
of the Company ("Directors").
Salient Features
Restated*
% 12 months to 31 12 months to 31
change March 2024 March 2023
Total revenue on continuing operations (13)% $83,005,000 $95,819,000
Profit before tax and non-controlling interests 592% $5,965,000 $863,000
Profit After Tax and non-controlling interests 2,525% $5,250,000 $200,000
Basic earnings (rands) 2,405% ZAR 2.7555 ZAR 0.11
Headline earnings (rands) 240% ZAR 1.0947 ZAR( 0.78)
Basic earnings (cents per share) 2,333% 14.6c 0.6c
Headline earnings (cents per share) 231% 5.8c (4.4)c
Weighted average number of ordinary shares 35,857,512 35,857,512
*Total revenue figure restated under IFRS 5 due to discontinued operations
Dividend
The Directors have declared a final gross dividend for the year ended 31 March 2024 of US 1.90000
cents per share (34.52737 ZAR cents per share). The dividend will be paid on Friday, 2 August 2024
to those shareholders registered at the close of business on Friday, 19 July 2024.
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, 25 June 2024 which was US$1 = ZAR
18.17230).
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, 19 July 2024. 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 34.52737 cents.
• The dividend withholding tax rate is 20% resulting in a net dividend of US 1.52000 cents
(27.62190 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, 16 July 2024
Shares trade ex-dividend Wednesday, 17 July 2024
Record date Friday, 19 July 2024
Pay date Friday, 2 August 2024
No dematerialisation or rematerialisation of share certificates, nor transfer of shares between the
registers in Jersey and South Africa will take place between Wednesday, 17 July 2024 and Friday, 19
July 2024, both dates inclusive.
Audit Report
This report for the year ended 31 March 2024 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/. The Company's Annual Report, containing its
audited annual financial statements and notice of annual general meeting, will be mailed to
shareholders on or before the 12th July 2024.
Full Announcement
This short-form announcement is the responsibility of the Directors of the Company and is a summary of the
information in the summarised audited results which is available for viewing on the following website:
JSE website: https://senspdf.jse.co.za/documents/2024/jse/isse/mmp/mmp24.pdf
Any investment decision by investors and/or shareholders should be based on consideration of the full
summarised audited results, copies of which are also available for inspection at our offices and available
from the company secretary at: melissa.bourgeois@city-group.com on business days, during business
hours, at no charge.
On behalf of the Board
United Kingdom
28 June 2024
JSE Sponsor to the Company
Questco Corporate Advisory Proprietary Limited
Date: 28-06-2024 07:05:00
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