Enhanced Investments - Financial Portal

Reviewed results for the year ended 31 March 2024 and Declaration of Final Dividend No. 22

Published: 2024-05-31 09:00:49 ET

                                                                            REVIEWED RESULTS
                                                                            FOR THE YEAR ENDED
                                                                            31 MARCH 2024


African Media Entertainment Limited                                                            Registration number 1926/008797/06            JSE Code: AME         ISIN Number: ZAE000055802



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, has pleasure in releasing its results for the year ended 31 March 2024.


Revenue                                       UP                8% at          R        290.1 million
Operating profit                              UP               22% to          R          56.9 million
Net profit before tax                         UP               36% to          R          76.7 million
Profit attributable to equity holders         UP               51% to          R          55.4 million
Headline earnings                             UP               52% to          R          55.4 million
EPS                                           UP               63% to        792.3 cents
HEPS                                          UP               63% to        792.2 cents
Dividend                                               450 cents gross      (Prior year: 350 cents (gross))

Group revenue increased by 8% from R268.7 million in 2023 to R290.1 million.
The earnings per share for the year increased from 485.5 cents in 2023 to 792.3 cents as a result of the improved performance in 2024.




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 31 May 2024,
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/2024/JSE/ISSE/AME/AMEAR2024.pdf

Declaration of final dividend no 22
The board has declared a final dividend (dividend no 22) of 350 cents per ordinary share (gross) for the year ended 31 March 2024.
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 earnings;
* the local Dividend Tax rate is 20%;
* the gross dividend amount is 350 cents per ordinary share for shareholders exempt from DWT;
* the net dividend amount is 280 cents per ordinary share for shareholders liable for DWT;
* the company has 6 929 577 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, 9 July 2024
Date trading commences ex-dividend: Wednesday, 10 July 2024
Record date: Friday, 12 July 2024
Date of payment to shareholders: Monday, 15 July 2024
Share certificates may not be dematerialised/rematerialised between Wednesday, 10 July 2024 and Friday, 12 July 2024, both days inclusive.

The preliminary condensed consolidated financial statements for the year ended 31 March 2024 have been reviewed by the group’s external auditors, Mazars
Incorporated who expressed an unmodified review conclusion. A copy of the auditors’ review report is available for inspection at the company’s registered
office together with the financial statements identified in the auditors’ report 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.

By order of the board
ACG MOLUSI                                                                                                    AJ ISBISTER CA(SA)
Independent Non-executive Chairman                                                                            Financial Director
31 May 2024

Directors                                                                                                     Registered office
Non-executive directors:                                                                                      AME Office Park
ACG Molusi (Chairman)*                                                                                        No. 5, 8th Street
DS Qocha*                                                                                                     Houghton Estate
J Edwards*                                                                                                    Johannesburg, 2198
MA Da Costa*                                                                                                  (P.O. Box 3014, Houghton, 2041)
MJ Prinsloo*
KW Thipe*                                                                                                     www.ame.co.za
RCH Fedder
SN Ngobese*                                                                                                   Sponsor
                                                                                                              AcaciaCap Advisors (Pty) Ltd
* independent
                                                                                                              Transfer secretary
                                                                                                              Computershare Investor Services (Pty) Ltd
Executive directors:
AJ Isbister CA(SA) (Financial Director)                                                                       Auditors
DM Tiltmann (Chief Executive)                                                                                 Mazars

Company secretary
C Roberts CA(SA)

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

Important disclosures

Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
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.

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Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
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.