ACSION LIMITED - Reviewed Financial Results and Dividend Declaration for the year ended 28 February 2023

Reviewed Financial Results and Dividend Declaration for the year ended 28 February 2023

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

SHORT FORM ANNOUNCEMENT: REVIEWED FINANCIAL RESULTS AND DIVIDEND
DECLARATION FOR THE YEAR ENDED 28 FEBRUARY 2023


KEY FINANCIAL HIGHLIGHTS

REVENUE FROM PROPERTY OPERATIONS
22% increase from R910 million to R1.1 billion

EARNING PER SHARE
24% decrease from 301.84 cents per share to 230.87 cents per share

HEADLINE EARNINGS PER SHARE
14% increase from 105.49 cents per share to 120.31 cents per share

NET ASSET VALUE PER SHARE
12% increase from 2,131 cents per share 2,390 cents per share

DIVIDEND DECLARATION

On 14 June 2023, the Board of directors has declared a final cash
gross dividend (No 5) of 18 cents per ordinary share, payable out of
income reserves to all shareholders of Acsion Limited.

The total gross dividend per share for the year ended 28 February 2023
therefore amounts to 36 cents, compared to 18 cents for the year ended
28 February 2022.

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:

Last day to trade cum dividend        Tuesday, 18 July 2023
Shares commence trading ex dividend   Wednesday, 19 July 2023
Record date                           Friday, 21 July 2023
Payment date                          Monday, 24 July 2023

Shares may not be rematerialised or dematerialised between Wednesday,
19 July 2023 and Friday, 21 July 2023, 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 and was
released on SENS on 15 June 2023. 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/2023/jse/isse/ACSE/ye23.pdf

The full announcement is available for inspection, at no charge, at
the registered office of Acsion at Mall@Reds Shopping Centre, Corner
of Hendrik Verwoerd and Rooihuiskraal Ext 15, Centurion, and its
Sponsor, from 08:00 to 17:00 on business days. Copies of the full
announcement    are    available    on     request    by    emailing
lizette@anaprop.co.za

The Group’s auditor, PKF Optagon, has issued an unmodified review
opinion, a copy of which is available on the Company’s website
(https://www.acsionsa.co.za/results.htm).

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

15 June 2023

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 Investors 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

Date: 15-06-2023 05:45:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.