ACSION LIMITED - Unaudited Interim Financial Results for the six months ended 31 August 2022 and Cash Dividend Declaration

Unaudited Interim Financial Results for the six months ended 31 August 2022 and Cash Dividend Declaration

ACSION Limited
(Registration number 2014/182931/06)
(Incorporated in the Republic of South Africa)
Share code: ACS ISIN: ZAE000198289
("Acsion" or "the Company")

UNAUDITED INTERIM FINANCIAL RESULTS FOR THE SIX MONTHS ENDED 31 AUGUST 2022

Highlights

- REVENUE FROM PROPERTY OPERATIONS
  34% increase from R384.2 million to R514.7 million
  
- EARNINGS PER SHARE
  14.5% decline from 150.05 cents per share to 128.22 cents per share
  
- HEADLINE EARNINGS PER SHARE
  72% increase from 45.54 cents per share to 78.41 cents per share
  
- NET ASSET VALUE PER SHARE
  13% increase from 1 962.37 cents per share to 2 280.06 cents per share

- LOAN-TO-VALUE RATIO OF 
  7.33% and interest cover ratio 11 times

- INTERIM DIVIDEND DECLARED 
  18 cents per share (August 2021: Nil)

Dividend declaration
The board of directors has declared an interim cash gross dividend (No. 4) of 18 cents per ordinary share, payable out
of income reserves to all shareholders of Acsion Limited. The dividend per share is calculated based on 394 959 976
shares in issue as at the date of the dividend declaration and therefore amounts to R71 092 795.68 in aggregate.

The net dividend amount, excluding South African dividend tax of 20%, which equates to 3.6 cents, is 14.4 cents per
share for those shareholders that are not exempt from dividend tax.

Acsion's income tax reference number is 9794017161.

In compliance with the requirements of Strate, the Company has determined the following salient dates for the payment
of the final dividend:

                                                                       2022
Last day to trade cum dividend                         Tuesday, 20 December
Shares commence trading ex dividend                  Wednesday, 21 December
Record date                                             Friday, 23 December
Payment date                                           Tuesday, 27 December

Shares may not be rematerialised or dematerialised between Wednesday, 21 December 2022, and Friday, 23 December 2022,
both days inclusive.

Short form announcement
This short form announcement is the responsibility of the directors. It is only a summary of the information contained
in the full announcement and does not contain full or complete details.

The full announcement is available on the Company's website https://www.acsionsa.co.za/results.htm and on the JSE's 
website at
https://senspdf.jse.co.za/documents/2022/jse/isse/ACSE/interims22.pdf.

This short form announcement was published on SENS on 30 November 2022.

The full announcement is available for inspection, at no charge, at the registered offices of Acsion and its Sponsor,
from 08:00 to 17:00 on business days.

Copies of the full announcement can be requested by emailing lizette@anaprop.co.za.

Any investment decisions should be based on the full announcement published on SENS and on the Company's website.

H Zarca                           K Anastasiadis
Chairman                          Chief Executive Officer

30 November 2022

Directors: K Anastasiadis (CEO), C van Rensburg (FD), PD Sekete*, M Kok*, L Osrin-Karp*, H Zarca (Chairman)*
(* Independent non-executive)

Registered office: Mall@Reds, 1st Floor, Corner of Rooihuiskraal and Hendrik Verwoerd Drives, Rooihuiskraal, 
Ext 15, Centurion

Postal address: PO Box 569, Wierda Park, 0149

Transfer secretaries: Computershare Investor Services Proprietary Limited, Rosebank Towers, 15 Biermann Avenue,
Rosebank, 2192

Sponsor: Merchantec Capital, Illovo Point, 13th Floor, 68 Melville Road, Illovo, Sandton 2196

Company secretary: MWRK Accountants and Auditors Incorporated Chartered Accountants

www.acsionsa.co.za



Date: 30-11-2022 04:47:00
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