FRONTIER TRANSPORT HOLDINGS LIMITED - Reviewed provisional condensed consolidated results for the year ended 31 March 2023 and cash dividend declaration

Reviewed provisional condensed consolidated results for the year ended 31 March 2023 and cash dividend declaration

FRONTIER TRANSPORT HOLDINGS LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 2015/250356/06
Share code: FTH
ISIN: ZAE000300505
("Frontier" or the "Company")


REVIEWED PROVISIONAL CONDENSED CONSOLIDATED RESULTS FOR THE YEAR ENDED 31 MARCH 2023 AND DECLARATION OF ORDINARY CASH DIVIDEND TO SHAREHOLDERS



FINANCIAL HIGHLIGHTS
-  Revenue: R2 393.841m, up 15.1% (March 2022: R2 080.002m)
-  Headline earnings per share: 96.07 cents, up 5.9% (March 2022: 90.75 cents)
-  Earnings per share: 95.55 cents, up 6.1% (March 2022: 90.07 cents)
-  Net asset value: R1 546.627m, up 8.4% (March 2022: R1 426.504m)
-  Ordinary cash dividends: 57 cents (March 2022: 52 cents)

The provisional condensed consolidated financial statements for the year ended 31 March 2023 have been reviewed by BDO South Africa Incorporated, 
who expressed an unmodified review conclusion. The auditor's report does not necessarily report on all the information contained in the financial 
results. Any reference to future financial performance included in this announcement has not been reviewed nor reported on. Shareholders are 
therefore advised that in order to obtain a full understanding of the nature of the auditor's engagement they should obtain a copy of the auditor's 
report together with the accompanying financial information from the issuer's registered office.

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. Any investment decision should be based on the full announcement, which can be accessed from 
Thursday, 25 May 2023, via the JSE link and also available on the Company's website at www.frontiertransport.co.za

Copies of the full announcement may also be requested at the Company's registered office during office hours, at no charge.

The JSE link is as follows: https://senspdf.jse.co.za/documents/2023/jse/isse/FTHE/YE23.pdf


DECLARATION OF ORDINARY CASH DIVIDEND TO SHAREHOLDERS
The directors have approved and declared a final ordinary dividend of 35 cents (gross) per Frontier share for the year ended 31 March 2023 from 
income reserves.

The salient dates for the payment of this dividend are as follows:

Announcement date                                                                  Thursday, 25 May 2023
Last day to trade cum dividend                                                      Monday, 12 June 2023
Commence trading ex-dividend                                                       Tuesday, 13 June 2023
Record date                                                                       Thursday, 15 June 2023
Payment date                                                                        Monday, 19 June 2023

Share certificates may not be dematerialised or rematerialised between Tuesday, 13 June 2023 and Thursday, 15 June 2023, both days inclusive.

In terms of legislation applicable to Dividends Tax ("DT") the following additional information is disclosed:

The final ordinary dividend shall constitute a "dividend" as defined in the Income Tax Act, 58 of 1962.
The local DT rate is 20%.
The number of ordinary shares in issue at the date of the declaration is 290 595 797.
The DT amounts to 7 cents per share for the final ordinary dividend.
The net local dividend amount is 28.00000 cents per share for the final ordinary dividend for all shareholders who are not exempt from the DT.
Frontier's income tax reference number is 9754/276/16/1.

In terms of DT legislation, any DT 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 DT rate or exemption.




Cape Town
25 May 2023


Sponsor
Investec Bank Limited


Date: 25-05-2023 02:00:00
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