Metair Investments Limited (JSE:MTA) News - Condensed audited consolidated results for the year ended 31 December 2021, dividend announcement & notice of AGM

METAIR INVESTMENTS LIMITED
(Incorporated in the Republic of South Africa)
(Reg No. 1948/031013/06)
Share code: MTA    ISIN code: ZAE 000090692
("Metair" or "the group" or "the company")


CONDENSED AUDITED CONSOLIDATED RESULTS FOR THE YEAR ENDED 31 DECEMBER 2021, 
CASH DIVIDEND ANNOUNCEMENT, NOTICE OF ANNUAL GENERAL MEETING AND
NOTIFICATION OF CHANGE OF ADDRESS


  -  Consolidated group assessed at B-BBEE Level 1 and South African subsidiaries at Level 4 or better
  -  Operating profit increased 107%
  -  ROIC increased to 16.4%
  -  50% of employees vaccinated by 31 December 2021, which is continuously improving

Shareholders are advised to refer to the full abridged results announcement (which may be accessed via the links provided below) 
for commentary in respect of the year ended 31 December 2021.

                                                                                            Year ended
                                                                                  31 December       31 December  
FINANCIAL SUMMARY                                                                        2021              2020        
                                                                                      Audited           Audited  
                                                                                        R'000             R'000     Change %
Revenue                                                                            12 621 070        10 243 706          23%
Operating profit                                                                    1 159 039           560 662         107%
EBITDA                                                                              1 409 157           782 966          80%
Basic earnings per share (cents)                                                          350                91         285%
Headline earnings per share (cents)                                                       354               148         139%
Dividend per share (cents) declared                                                        90                75          20%
No. of shares in issue ('000)                                                         198 986           198 986           0%
Net asset value per share (cents)                                                       1 946             2 133         (9%)
Cash generated from operations                                                        648 930         1 057 418        (39%)

HIGHLIGHTS

  -  HEADLINE EARNINGS PER SHARE increased 139% to 354 cents per share
  -  EBITDA increased 80% to R1.4 billion
  -  Cash generated from operations decreased by 39% to R649 million
  -  INVESTOR AND ANALYST AUDIO WEBCAST of the presentation will be broadcast on Thursday, 17 March 2022

DECLARATION OF ORDINARY DIVIDENDS NO. 71

Notice is hereby given that a gross cash dividend of 90 cents per share has been declared by the board in respect of the 
year ended 31 December 2021 (2020: 75 cents per share).

The dividend has been declared out of income reserves.

The salient dates for the payment of the dividend are detailed below:

Last day of trade                          Tuesday, 5 April 2022             
Shares to commence trading ex-dividend     Wednesday, 6 April 2022           
Record date                                Friday, 8 April 2022              
Payment of dividend                        Monday, 11 April 2022

The following additional information is disclosed regarding the dividend:

- the local dividend tax rate is 20%;
- the gross local dividend amount is 90 cents per share for shareholders exempt from dividends tax;                   
- the net local dividend amount is 72 cents per share for shareholders liable to pay a dividend tax;
- Metair's issued share capital is 198 985 886 (which includes 5 878 273 treasury shares); and
- Metair's income tax reference number is 9300198711.

Shareholders will not be permitted to dematerialise or rematerialise their share certificates between Wednesday, 6 April 2022 and 
Friday, 8 April 2022, both days inclusive.

NOTICE OF ANNUAL GENERAL MEETING

Notice is hereby given that the annual general meeting (AGM) will be held remotely through an electronic interactive platform hosted 
by The Meeting Specialist (Pty) Ltd (TMS) on Thursday, 5 May 2022 at 14h00, as set out in the notice of AGM, which is incorporated into 
the group's integrated annual report for 2021, which is available on the company website 
https://www.metair.co.za/wp-content/uploads/2022/03/Metair-IAR_2021.pdf and which will be mailed to shareholders on Friday, 18 March 2022.

Shareholders who wish to electronically attend, participate in and/or vote at the AGM are required to contact TMS at proxy@tmsmeetings.co.za 
or on +27 520 7950/1/2 as soon as possible, in any event by no later than on Tuesday, 3 May 2022 at 14h00. Shareholders are encouraged to read 
the notice of AGM for further information on, inter alia, how to attend electronically, participate in and vote at the AGM and/or details on 
how to submit forms of proxy.

The record date for purposes of determining which shareholders are entitled to receive the notice of AGM is Friday, 11 March 2022. The record 
date for purposes of determining which shareholders must be registered as such in the company's securities register in order to attend and vote 
at the AGM is Friday, 22 April 2022. The last day to trade in order to be entitled to vote at the AGM will therefore be Tuesday, 19 April 2022. 
Duly completed proxy forms must be received by the company or by TMS by no later than Tuesday, 3 May 2022 at 14h00.

ADDITIONAL INFORMATION

This short-form announcement is the responsibility of the directors and is only a summary of the information in the full announcement and does 
not contain full or complete details. Shareholders are advised that the forecast financial information contained in this announcement has not 
been reviewed or reported on by the company's auditors and is the responsibility of the directors of the company. Any investment decisions by 
investors and/or shareholders should be based on the full announcement that has been published on SENS today, 17 March 2022 
https://senspdf.jse.co.za/documents/2022/JSE/ISSE/MTA/AFS2021.pdf and is also available on our website 
https://www.metair.co.za/wp-content/uploads/2022/03/Metair-IAR-Abridged-2021.pdf. An investor and analyst audio webcast of the presentation will 
be broadcast on Thursday, 17 March 2022 at 10h30 (SAST), which presentation will be available on the company's website 
https://www.metair.co.za/wp-content/uploads/2022/03/Year-end-presentation-FINAL.pdf. Investors and analysts are advised to utilise the following 
link to gain access to the webinar https://attendee.gotowebinar.com/register/2789424037435171340.

The audited consolidated financial statements, from which this summarised report is extracted, have been audited by PricewaterhouseCoopers Inc., 
who expressed an unmodified opinion thereon. The key audit matters relating to the impairment assessment of Mutlu Aku and Rombat goodwill have 
been addressed in the auditor's report as contained on pages 118 to 122 of the audited consolidated financial statements, which is available on 
our website https://www.metair.co.za/wp-content/uploads/2022/03/Metair-IAR_2021.pdf. The full announcement is also available at our registered 
office and our sponsor's office for inspection, at no charge, during office hours.

NOTIFICATION OF CHANGE TO COMPANY'S REGISTERED AND BUSINESS ADDRESS

Shareholders are hereby advised that the company's registered and business address is as follows:
Oxford & Glenhove Building, 114 Oxford Road, Suite 7, Houghton Estate, Johannesburg, 2198, Gauteng, South Africa.
Postal address: Postnet Suite 231, Private Bag X31, Saxonwold, Gauteng, 2132.
The contact number has changed to: +27 10 786 0800.

Registrars                                                                                     
Computershare Investor Services (Pty) Limited                                                  
Rosebank Towers, 15 Biermann Avenue, Rosebank, 2196

Sponsor                                                         
One Capital                                                     

Investor relations
Instinctif Partners

17 March 2022

EXECUTIVE DIRECTORS: 
R Haffejee (CEO); S Douwenga (CFO)

INDEPENDENT NON-EXECUTIVE DIRECTORS: 
CMD Flemming (Chairman); B Mathews; B Mawasha; TN Mgoduso (Lead Independent);
N Mkhondo; MH Muell (German); A Sithebe; S Sithole (Zimbabwean); P Giliam
                                                           
COMPANY SECRETARY: SM Vermaak


Date: 17-03-2022 07:05:00
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