02 Jun - 4 min read

Reviewed results for the year ended 31 March 2021

Reviewed results for the year ended 31 March 2021

African Media Entertainment Limited
Registration number 1926/008797/06     
JSE code: AME     ISIN: ZAE 000055802

for the year ended 31 March 2021

African Media Entertainment Limited, a broadcast company listed in the Media and Entertainment sector of
the Johannesburg Stock Exchange, with a radio footprint across central South Africa and the Eastern Cape,
released its results for the year ended 31 March 2021.

                                         Revenue    Down    (24)% at R200,1 million
                                Operating profit    Down    (52)% to R22,2 million
         Net profit before capital items and tax    Down    (51)% to R25,7 million
           Profit attributable to equity holders    Down    (97)% to R0,3 million
                               Headline earnings    Down    (70)% to R8,9 million
                                             EPS    Down    (97)% to 3,6 cents
                                            HEPS    Down    (70)% to 112,7 cents
                                        Dividend            100 cents gross (prior year: nil)

Group revenue from continuing operations reduced by 24% in the current year, ending at R200,1 million
(2020: R262,7 million) which reflects the difficult trading conditions in the current year as a result of the
Covid-19 pandemic. 

Profit attributable to equity holders of the parent declined by 97% from R10,3 million in 2020 to R282 000
in 2021 which has resulted in a 97,3% decline in earnings per share from 130,4 cents to 3,6 cents. Headline
earnings declined by 70,2% from R30 million to R8,9 million and headline earnings per share decreased by
70,2% from 378,3 cents to 112,7 cents per share.

The factors that influenced the reduction in earnings per share relate mainly to the impairments of the intangible
assets as a result of downward revision of forecasted profitability of Moneyweb and United Stations due to the
effect of the Covid-19 pandemic on its operations.

The decline in headline earnings per share reflects the impact of Covid-19 on the profitability of the Group.

This short-form announcement is the responsibility of the directors and is only a summary of the information
in the full announcement. The full announcement was released on SENS on 2 June 2021, and can be found
on the company's website at www.ame.co.za. Copies of the full announcement may also be requested at the
company's registered office, at no charge, during office hours. Any investment decision should be based on the
full announcement published on SENS and on the company's website.


The board has declared a final dividend (dividend no 16) of 100 cents per ordinary share (gross) for the year
ended 31 March 2021.

The dividend is subject to the Dividends Withholding Tax ("DWT") that was introduced with effect from
1 April 2012.

In accordance with the provisions of the JSE Listings Requirements the following additional information is

  -   the dividend has been declared out of distributable retained profit;
  -   the local Dividend Tax rate is 20%;
  -   the gross dividend amount is 100,00 cents per ordinary share for shareholders exempt from DWT;
  -   the net dividend amount is 80,00 cents per share for shareholders liable for DWT;
  -   the company has 7 923 125 ordinary shares in issue; and
  -   the company's income tax reference number is 9100/169/71/4.

The following dates are applicable to the dividend:
Last date to trade in order to be eligible for the dividend: Tuesday, 6 July 2021
Date trading commences ex-dividend: Wednesday, 7 July 2021
Record date: Friday, 9 July 2021
Date of payment to shareholders: Monday, 12 July 2021

Share certificates may not be dematerialised/rematerialised between Wednesday, 7 July 2021 and Friday,
9 July 2021, both days inclusive.

The preliminary condensed consolidated financial statements for the year ended 31 March 2021 have been
reviewed by the group's external auditors, BDO South Africa Incorporated who expressed an unmodified
review conclusion. A copy of the auditors' review report together with the financial statements identified in the
auditors' report is available for inspection at the company's registered office and can also be reviewed on the
following web-link: https://www.ame.co.za.

The auditors' report does not necessarily report on all of the information contained in these financial
results. Shareholders are therefore advised that in order to obtain a full understanding of the nature of the
auditors' engagement, they should obtain a copy of the auditors' report together with the accompanying
financial information from the issuer's registered office or it can be reviewed on the following web-link:

By order of the board

ACG Molusi                                           AJ Isbister
Independent Non-executive Chairman                   Financial director
2 June 2021

Independent non-executive directors:
ACG Molusi (Chairman)
J Edwards
MJ Prinsloo
N Sooka
KW Thipe

Executive directors:
DM Tiltmann (Chief Executive)
AJ Isbister (Financial director)

Company secretary
C Roberts

Registered office
Block A, Oxford Office Park
No. 5, 8th Street
Houghton Estate
Johannesburg, 2198
(PO Box 3014, Houghton, 2041)

AcaciaCap Advisors (Proprietary) Limited

Transfer secretary
Computershare Investor Services (Proprietary) Limited

BDO South Africa Incorporated


Date: 02-06-2021 04:20:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

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