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 AFRICAN MEDIA ENTERTAINMENT REVIEWED RESULTS 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. https://senspdf.jse.co.za/documents/2021/JSE/ISSE/AME/AMEAR2021.pdf DECLARATION OF FINAL DIVIDEND NO 16 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 disclosed. - 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: https://www.ame.co.za By order of the board ACG Molusi AJ Isbister Independent Non-executive Chairman Financial director 2 June 2021 Directors 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) Sponsor AcaciaCap Advisors (Proprietary) Limited Transfer secretary Computershare Investor Services (Proprietary) Limited Auditors BDO South Africa Incorporated www.ame.co.za 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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