OCEANA GROUP LIMITED - Update on timing for publication of financial results and voluntary trading statement

Update on timing for publication of financial results and voluntary trading statement

OCEANA GROUP LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1939/001730/06)
JSE share code: OCE
NSX share code: OCG
ISIN: ZAE000025284
(“Oceana” or the “ Company” or the “Group”)

ANNOUNCEMENT RELATING TO:

    •   UPDATE ON TIMING FOR PUBLICATION OF FINANCIAL RESULTS;
    •   FURTHER CAUTIONARY ANNOUNCEMENT; AND
    •   VOLUNTARY TRADING STATEMENT

Update on timing for publication of financial results

Shareholders are referred to the announcement issued by Oceana on 29 October 2021 and are
advised that the Oceana board of directors (“Board”) mandated ENSafrica to conduct a
comprehensive investigation into the matters raised and that significant progress has been made in
this regard.

The investigation is substantially complete but is still subject to audit review once fully completed.
Current indications are that there will be no material impact on the financial results of Oceana for the
financial year ended 30 September 2021.

Further to the above, Oceana shareholders are advised that the Board does not believe that it will
be able to publish reviewed or audited financial results for the year ended 30 September 2021
(“Financial Results”) before 31 December 2021. It is however still Oceana’s intention to publish the
Financial Results before the end of January 2022 in accordance with the JSE Listings Requirements.

Oceana would therefore like to advise shareholders to continue to exercise caution when dealing in
their Oceana securities until Oceana is able to provide more guidance following the conclusion of
the investigation.

Voluntary trading statement for the 12 months ended 30 September 2021

Pursuant to the operating update published on 26 November 2021, the following trading statement
aims to provide an overview of the financial performance of the Group for the year ended 30
September 2021.

Basic earnings per share ("EPS) for the year ended 30 September 2021 is likely to decrease between
5% and 12%, to between 618.4 cents per share and 572.8 cents per share compared to the 650.9
cents per share reported in the previous financial year.

Basic headline earnings per share (HEPS) for the year ended 30 September 2021 is likely to
decrease between 5% and 12%, to between 597.0 cents per share and 553.0 cents per share
compared to the 628.4 cents per share reported in the previous financial year.

The overall operating performance of the Group has been pleasing in the context of the on-going
impact of Covid-19 on consumer spending and global supply chain and logistics. Notwithstanding
the negative impact of the KZN riots on Lucky Star inventory levels and Hurricane Ida on US fish
supply, the performance for the period has been positive, underpinned by continued strong demand.
Shareholders are advised that the financial information on which this trading statement is based has
not been reviewed and/or reported on by the Company’s auditors.


Cape Town
10 December 2021

Sponsor - South Africa
The Standard Bank of South Africa Limited

Sponsor – Namibia
Old Mutual Investment Services (Namibia) Proprietary Limited

Date: 10-12-2021 04:39:00
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