Wrap Text
Unaudited interim results and cash dividend announcement for the period ended 30 September 2022
eMedia Holdings Limited
(Incorporated in the Republic of South Africa) (Registration number 1968/011249/06)
Ordinary shares (share code: EMH - ISIN: ZAE000208898) N ordinary shares (share code: EMN - ISIN: ZAE000209524)
(eMedia Holdings or the company or the group)
Unaudited condensed consolidated interim results and cash dividend announcement for the period ended 30 September 2022
September September %
2022 2021* movement
R'000 R'000
Revenue 1 522 727 1 491 193 2.1
Operating profit 199 237 241 851 (17.6)
Profit from the period from continuing operations 144 761 180 212 (19.7)
Profit for the year 144 050 181 526 (20.6)
Net asset value per share (cents) 610 607 0.6
Basic earnings per share (cents) 21,89 27,56 (20.6)
Headline earnings per share (cents) 21,29 28,24 (24.6)
Dividend declared per share (cents) 21 22 (4.5)
* Restated due to discontinued operations.
The first six months of the financial year has seen an increase in the intensity of load shedding across South Africa. This has had a direct impact on the
"number of eyeballs" that has watched television with the Average Minute Rating (AMR) decreasing by 16.5% when compared to the period ended 30 September
2021. The AMR for the e.tv channel decreased by 5% for the same period showing that the increased market share has assisted the Group.
The decrease in AMR has however had an impact on an already depressed economy with many key advertisers reducing spend. This together with the negative
impact of the rand/dollar exchange rate, as well as the continued legal battle on analogue switch-off and taking Multichoice South Africa to the
Competition Commission in relation to the removal of four entertainment channels off its bouquet, had a direct impact on the decrease of earnings for the
Group.
Despite the above factors the Group has started the financial year satisfactory, posting acceptable results. This is on the back of the Group's
concentrated effort to improve its market share and thereby its audience.
The directors of eMedia Holdings have resolved to declare an interim cash dividend from income reserves for the period ended 30 September 2022 of 21 cents
per share (2021: 22 cents). The dividend to shareholders relates to the ordinary shares (share code: EMH) and N ordinary shares (share code: EMN). The
dividend will be subject to a local dividend withholding tax at a rate of 20%, which will result in a net final dividend to those shareholders not exempt
from paying dividend withholding tax of 16.80 cents per ordinary share and 21 cents per ordinary share for those shareholders who are exempt from dividend
withholding tax. In terms of dividend withholding tax legislation, any dividend withholding tax amount due will be withheld and paid over to the South
African Revenue Service by a nominee company, stockbroker or Central Securities Depository Participant (collectively "regulated intermediary") on behalf of
shareholders. All shareholders should declare their status to their regulated intermediary as they may qualify for a reduced dividend withholding tax rate
or exemption. The salient dates for the payment of the dividend are as follows:
Last day to trade cum dividend: Monday, 12 December 2022
Commence trading ex dividend: Tuesday, 13 December 2022
Record date: Thursday, 15 December 2022
Payment date: Monday, 19 December 2022
Share certificates may not be dematerialised nor rematerialised between Tuesday, 13 December 2022 and Thursday, 15 December 2022 both dates inclusive.
This reviewed 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 condensed consolidated financial information for the year ended 30 September 2022 has been reviewed by BDO South Africa Incorporated, who expressed an
unmodified review conclusion.
The full reviewed announcement can be found on the Company's website at http://www.emediaholdings.co.za and also at the following link:
https://senspdf.jse.co.za/documents/2022/jse/isse/EMNE/Interims.pdf
The full reviewed announcement is available at 4 Albury Road, Dunkeld West, Hyde Park, Johannesburg, 2196 and at the offices of the sponsor, free of
charge, to investors and/or shareholders, during office hours (09:00 to 17:00) from Monday to Friday.
For and on behalf of the board
MKI Sherrif AS Lee
Chief executive officer Financial director
24 November 2022
Directors: JA Copelyn* (chairperson), MKI Sherrif (chief executive officer), AS Lee (financial director), TG Govender*, Y Shaik*, VE Mphande*^,
L Govender*^, RD Watson*^ (Lead Independent)
*Non-executive ^Independent
Company Secretary: HCI Managerial Services Proprietary Limited
Registered Office: 4 Albury Road, Dunkeld West, Hyde Park, Johannesburg, 2196, Private Bag X9944, Sandton, 2146
Sponsor: Investec Bank Limited, 100 Grayston Drive, Sandton, Sandown, 2196
Transfer Secretary: Computershare Investor Services Proprietary Limited, Rosebank Towers, 15 Biermann Avenue, Rosebank, 2196,
PO Box 61051, Marshalltown, 2107
Auditors: BDO South Africa Incorporated, Wanderers Office Park, 52 Corlett Drive, Illovo, 2196, Private Bag X10046, Sandton, 2146
Date: 24-11-2022 11:10:00
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