Enhanced Investments - Financial Portal

Audited Annual Consolidated Results for the year ended 31 March 2023, Dividend Declaration & Notice of AGM

Published: 2023-06-29 14:00:20 ET

ARGENT INDUSTRIAL LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1993/002054/06)
Share code: ART
ISIN: ZAE000019188
 (“Argent” or “the company”)

 AUDITED ANNUAL CONSOLIDATED RESULTS FOR THE YEAR ENDED 31 MARCH 2023, DIVIDEND
 DECLARATION, NOTICE OF ANNUAL GENERAL MEETING AND DISTRIBUTION OF ANNUAL REPORT

 FINANCIAL SUMMARY                                            31 March 2023        31 March 2022        % change
 Income statement
 Revenue                                         R 000            2 459 359           2 432 702            1.1%
 EBITDA                                          R 000              360 043             319 096           12.8%
 Operating profit                                R 000              304 358             264 259           15.2%
 Profit for the year                             R 000              236 265             192 076            23%
 Statement of financial position
 Total assets                                    R 000            2 159 589           1 979 679              9.1%
 Total liabilities                               R 000              646 596             702 282             (7.9%)
 Total shareholders’ funds                       R 000            1 512 993           1 277 397             18.4%
 Net asset value per share                       cents               2 683.6            2 238.3             19.9%
 Shares in issue
 At end of period excluding treasury shares      000                 55 633              56 392             (1.3%)
 Weighted average                                000                 55 801              57 634             (3.2%)
 Diluted weighted average                        000                 56 051              58 477             (4.1%)
 Earnings and dividend per share
 Basic earnings per share                        cents                 413.1              330.0             25.2%
 Diluted earnings per share                      cents                 411.3              325.3             26.4%
 Headline earnings per share                     cents                 411.3              339.2            21.3%
 Diluted headline earnings per share             cents                 409.5              334.3             22.5%
 Dividend per share                              cents                  95.0               42.0            126.2%

DIVIDEND DECLARATION
The directors of the company have declared and approved a final gross dividend of 50 cents per share for the year
ended 31 March 2023 from income reserves. Total ordinary dividends per share in respect of the financial year to
31 March 2023 therefore amounts to 95 cents (2022 – 42 cents).

The following dates will apply to the abovementioned final dividend:
Last day to trade cum dividend:        Tuesday, 18 July 2023
Trading ex-dividend commences:         Wednesday, 19 July 2023
Record date:                            Friday, 21 July 2023
Dividend payment date:                  Monday, 24 July 2023

Share certificates may not be dematerialised or re-materialised between Wednesday, 19 July 2023 and
Friday, 21 July 2023, both days inclusive.

In determining the dividends tax of 20% to be withheld in terms of the Income Tax Act (No 58 of 1962), those
shareholders who are not exempt from the dividend tax will therefore receive a dividend of 40 cents per share net of
dividend tax. The company has 56 056 203 ordinary shares in issue as at 29 June 2023 and its income tax reference
number is 9096/002/71/3.

Ordinary shareholders who hold dematerialised shares will have their accounts at their CSDP or broker
credited/updated on Monday, 24 July 2023.

SHORT FORM ANNOUNCEMENT
The audited annual consolidated financial statements have been audited by BDO South Africa Inc., who expressed
an unmodified audit opinion thereon. A copy of the auditor’s report including the key audit matters is available for
inspection, during office hours, at the company’s registered office, together with the financial statements identified in
the auditor’s report, as well as on the company’s website,
https://argent.co.za/wp-content/uploads/2023/06/YE2023-SENS-short-form.pdf

This short-form announcement is the responsibility of the directors of the company. It contains only a summary of the
information in the full announcement (“Full Announcement”) and does not contain full or complete details. The Full
Announcement can be found at: https://senspdf.jse.co.za/documents/2023/JSE/ISSE/ART/YE2023.pdf. Any
investment decisions by investors and/or shareholders should be based on consideration of the Full Announcement,
as a whole.
Copies of the full announcement are available for viewing on the company’s website at
https://argent.co.za/wp-content/uploads/2023/06/YE2023-SENS.pdf or may be requested in person, at the company’s
registered office or the office of the sponsor, at no charge, during office hours.

DISTRIBUTION OF ANNUAL REPORT AND NOTICE OF ANNUAL GENERAL MEETING
Shareholders are hereby advised that the company’s annual report (“Annual Report”), including the full audited
consolidated financial statements of the company for the financial year ended 31 March 2023 and the notice of the
annual general meeting of the company (“Notice of AGM”), has been distributed to shareholders today,
29 June 2023. The Annual Report is available on the company’s website,
https://argent.co.za/wp-content/uploads/2023/06/annual-report-2023.pdf

Notice is hereby given that Argent’s annual general meeting (“AGM”) of shareholders will be held in the company’s
boardroom at First floor, Ridge 63, 8 Sinembe Crescent, La Lucia Ridge Office Estate, Umhlanga, on Friday,
18 August 2023 at 11:00 to transact the business as stated in the abovementioned Notice of AGM.

Kindly note the following salient details:

 Issuer name                                                                                    Argent Industrial Limited
 Type of instrument                                                                                     Ordinary shares
 ISIN number                                                                                               ZAE000019188
 JSE code                                                                                                        ART
 Meeting type                                                                                   Annual General Meeting
 Meeting venue                                          First floor, Ridge 63, 8 Sinembe Crescent, La Lucia Ridge
                                                                                          Office Estate, Umhlanga
 Record date – to determine which                                                                   Friday, 23 June 2023
 shareholders are entitled to receive the notice
 of meeting
 Publication/posting date                                                                       Thursday, 29 June 2023
 Last day to trade – Last day to trade to                                                        Monday, 7 August 2023
 determine eligible shareholders that may
 attend, speak and vote at the meeting
 Record date – to determine eligible                                                              Friday, 11 August 2023
 shareholders that may attend, speak and vote
 at the meeting
 Meeting deadline date (For administrative                                                 Wednesday, 16 August 2023
 purposes, forms of proxy for the meeting to be
 lodged)
 Meeting date                                                                         11:00 on Friday, 18 August 2023
 Publication of results                                                                           Friday, 18 August 2023
 Website link                                      https://argent.co.za/wp-content/uploads/2023/06/annual-report-2023.pdf




Umhlanga
29 June 2023

Sponsor
PSG Capital

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

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All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.