South Ocean Holdings (JSE:SOH) News - Audited Summary Consolidated Financial Results Announcement for the Year ended 31 Dec 2021 & Dividend Declaration South Ocean Holdings Limited (Registration number 2007/002381/06) Incorporated in the Republic of South Africa (“South Ocean Holdings”) Share Code: SOH ISIN: ZAE000092748 Audited Results Announcement for the year ended 31 December 2021 and Final Dividend Declaration South Ocean Holdings (”the Group” or “the Company”) is an investment holding company, comprising two operating subsidiaries which manufacture low voltage electrical cables and which hold property for investment purposes. An extract from the audited consolidated annual financial statements is set out below: SALIENT FEATURES 31 December 31 December 2021 2020 Percentage Audited Audited Change Revenue R 2 001 million R1 743 million 15% Operating Profit R 112.2 million R38.1 million 194% Earnings per share (cents) 36.93 13.25 179% Headline earnings per share (cents) 36.81 13.32 176% Dividend per share (cents) 9.00 3.00 200% Tangible Net Asset Value 279.1 245.1 14% The 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. The full announcement can be found on the Company’s website at www.southoceanholdings.co.za and can be viewed at the following link: https://senspdf.jse.co.za/documents/2022/JSE/ISSE/SOH/SOHAR2021.pdf DIVIDEND DECLARATION The Board has declared a final dividend of 9.00000 cents per ordinary share, which amounts to 24% of headline earnings. The dividend is declared out of income reserves of the Group. The dividend will be subject to a dividend withholding tax rate of 20% or 1.80000 cents per ordinary share. Shareholders, unless exempt or qualifying for a reduced withholding tax rate, will receive a net dividend of 7.20000 cents per ordinary share. South Ocean’s tax reference number is 9341037167. The number of ordinary shares which will be eligible for the dividend at the declaration date is 203 276 794. The salient dates for the dividend will be as follows: 2022 Last date to trade “cum? dividend Tuesday, 19 April Shares commence trading ”ex” dividend Wednesday 20 April Record date (date shareholders recorded in share register) Friday,22 April Payment date Monday, 25 April Shareholders may not dematerialise or rematerialise their share certificates between Wednesday, 20 April 2022 and Friday, 22 April 2022, both dates inclusive. The unqualified audit opinion, which includes communication on key audit matters and the full details of the basis for the unqualified opinion, can be accessed by the following link: https://southoceanholdings.co.za/Pages/Financial-Archives.asp Copies of the full announcement may also be requested from the Company or inspected at the Company’s registered office and at the offices of the sponsor, 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. For and on behalf of the Board Henry KH Pon CA(SA) A Smith Chairperson Chief Executive Officer Johannesburg 31 March 2022 Directors: Henry KH Pon# (Chairperson), HL Li#º (Deputy Vice-Chairperson), A Smith* (Chief Executive Officer), WP Basson* (Chief Financial Officer), N Lalla#, J van Rensburg&, LL Chen&^, M Chong#, JH Yeh#, DJC Pan &@ (Alternate), SN Yeh &º (Alternate), * Executive # Independent Non-executive & Non-executive º Taiwanese @ Brazilian ^ Hong Kong Corporate Information Registered Office: 12 Botha Street, Alrode 1451, P.O. Box 123738, Alrode, 1451, Telephone: +27(11) 864 1606, Telefax: +27(86) 628 9523, Website: www.southoceanholdings.co.za Company Secretary: WT Green, 21 West Street, Houghton, 2198, P.O. Box 123738, Alrode, 1451 Sponsor: AcaciaCap Advisors Proprietary Limited, (Registration No: 2006/033725/07), 20 Stirrup Lane, Woodmead Office Park, Woodmead, 2191 (Suite #439, Private Bag X29, Gallo Manor, 2052) Share Transfer Secretary: Computershare Investor Services Proprietary Limited, Rosebank Towers, 15 Bierman Avenue, Rosebank, Johannesburg, 2196, P.O. Box 61051, Marshalltown, 2107, South Africa Telephone: +27(11) 370 5000, Telefax: +27(11) 688 5200 Website: www.computershare.com Auditors: PricewaterhouseCoopers Inc. 4 Lisbon Lane, Waterfall City, Jukskei View, Johannesburg, 2090. Telephone: +27(12) 797 4000 Telefax +27(12) 797 5800, Website: www.pwc.co.za Date: 31-03-2022 05:25:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 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