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Annual Financial Statements for the Year Ended 31 March 2026, Dividend Declaration, Notice of Annual General Meeting
Marshall Monteagle PLC
(Incorporated in Jersey)
(Registration number: 102785)
(External registration number: 2010/024031/10)
JSE Code: MMP ISIN: JE00B5N88T08
Main Board – General Segment
("Marshalls" or "the Company")
AUDITED CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026,
DIVIDEND DECLARATION, DISTRIBUTION OF ANNUAL REPORT, NOTICE OF ANNUAL GENERAL MEETING
AND WARRANT EXERCISE WINDOW
Marshalls shareholders are advised that the Company's Annual Report and audited Consolidated
Financial Statements for the year ended 31 March 2026 was published today, Friday, 26 June 2026.
An electronic version of the 2026 Annual Report and Consolidated Financial Statements containing the
notice of annual general meeting ("AGM") will be available on the Company's website at
www.monteaglegroup.com/results from today and will be posted to relevant shareholders on Friday, 10
July 2026. Copies of the 2026 Annual Report and Consolidated Financial Statements may be requested
from the Company Secretary at mail@monteaglegroup.com.
2026 Consolidated Financial Statements
Marshalls is an Investment Company. It is listed on the JSE Limited and has a broad and diversified
range of investments. The investments fall broadly into the following categories:
• Blue Chip International listed companies;
• Industrial Property in South Africa; and
• Financing and Trading Companies that operate on an international basis.
The Company's objective is to invest for the long term to generate reliable profits, cash flow and
dividends for our shareholders; thereby achieving capital growth for the benefit of all stakeholders. The
performance of the Group's investments is monitored and regularly reviewed by the board of directors
of the Company ("Directors").
Salient Features 12 months to 31 12 months to 31
March 2026 March 2025
Total revenue on continuing operations $96,056,000 $80,997,000
Profit before tax on continuing operations $10,871,000 $373,000
Profit after tax on continuing operations $10,511,000 $565,000
Basic earnings (rands per share) ZAR 4.4858 ZAR 0.1815
Headline earnings (rands per share) ZAR 4.3831 ZAR 0.4015
Basic earnings (US$ cents per share) 26.2c 1.0c
Headline earnings (US$ cents per share) 25.6c 2.2c
Weighted average number of ordinary shares (2025 restated) 40,077,637 36,768,292
Audit Report
The 2026 Consolidated Financial Statements were audited by Grant Thornton Limited who issued an
unmodified audit opinion thereon. Their audit opinion, together with the 2026 Consolidated Financial
Statements, can be viewed at www.monteaglegroup.com/results. The audit report is included in the
Annual Report that will be posted to relevant shareholders on Friday, 10 July 2026.
Dividend Declaration
The Directors are pleased to declare a second interim gross dividend for the year ended 31 March
2026 of US$2.10000 cents per share (34.89885 ZAR cents per share). The dividend will be paid on
Friday, 31 July 2026 to those shareholders registered at the close of business on Friday, 17 July
2026.
Shareholders on the South African register will receive their dividend in South African Rand converted
from US Dollars at the closing rate of exchange on Wednesday, 24 June 2026 which was US$1 =
ZAR 16.61850.
In respect of the normal gross cash dividend, and in terms of the South African Tax Act, the following
dividend tax ruling only applies to those shareholders who are registered on the South African register
on Friday, 17 July 2026. All other shareholders are exempt.
• The dividend has been declared from income reserves, which funds are sourced from the Jersey
holding company's main bank account in Switzerland.
• The gross dividend in ZAR cents is 34.89885 cents per share.
• The dividend withholding tax rate is 20% resulting in a net dividend of US US$1.68000 cents
(27.91908 ZAR cents) per share to those shareholders who are not exempt from the dividend
withholding tax.
The issued number of shares as at declaration date is 46,121,889.
The Company's Jersey tax number is CH4513.
Salient dates for the dividend:
Last day to trade Tuesday, 14 July 2026
Shares trade ex-dividend Wednesday, 15 July 2026
Record date Friday, 17 July 2026
Pay date Friday, 31 July 2026
No dematerialisation or rematerialisation of share certificates, nor transfer of shares between the
registers in Jersey and South Africa will take place between Wednesday, 15 July 2026 and Friday, 17
July 2026, both dates inclusive.
Short Form Announcement
This short form announcement is the responsibility of the Directors of the Company and is a summary of the
information contained in the 2026 Consolidated Financial Statements. As such it does not contain full or
complete details of the Company's financial results and is itself not audited.
Any investment decision by investors and/or shareholders should be based on consideration of the full 2026
Consolidated Financial Statements, which was prepared in accordance with the JSE Limited Listings
Requirements and, which is available for viewing on the following websites:
JSE website:
https://senspdf.jse.co.za/documents/2026/jse/isse/mmp/mmp26.pdf
Company website: https://www.monteaglegroup.com/results.
Copies of the 2026 Annual Report and Consolidated Financial Statements, are also available for inspection
at our offices and available upon request from the company secretary at: mail@monteaglegroup.com on
business days, during business hours, at no charge.
Notice of AGM
Notice is hereby given that the next AGM of the shareholders of the Company will be held at its registered
office at 2nd Floor, Gaspé House, 66-72 Esplanade, St Helier, Jersey, JE1 1GH on Friday, 18 September
2026 at 10:00am (UK time) 11:00am (SA time) to consider and, if deemed fit, to pass with or without
modification, all of the ordinary and special resolutions set out in the notice of AGM as contained in the 2026
Annual Report.
The Board has determined the following salient dates in respect of the AGM:
Record date for receipt of notice purposes Friday, 26 June 2026
2026 Annual Report and Consolidated Financial Statements
containing AGM Notice posted on Friday, 10 July 2026
Last day to trade in order to be eligible to participate in and Tuesday, 8 September 2026
vote at the Annual General Meeting
Record date for voting purposes "voting record date" Friday, 11 September 2026
Last day to lodge forms of proxy for the Annual General Wednesday, 16 September 2026
Meeting
Annual General Meeting at 10:00am (UK Time) 11:00am Friday, 18 September 2026
(SA Time)
Results of Annual General Meeting released on SENS Friday, 18 September 2026
Warrant Exercise Window
The next Warrant exercise window will open on Friday, 26 June 2026 and close on Thursday, 23 July
2026.
Warrantholders wishing to exercise their warrants during this exercise window should email their
completed Form of Exercise and Warrant Certificates to mail@monteaglegroup.com and the relevant
bank details will be provided for payment.
Warrantholders on the South African register should pay 19.9422 ZAR per warrant exercised, being
1.20 US Dollars at the closing rate of exchange on Wednesday, 24 June 2026 which was US$1 =
ZAR 16.61850.
On behalf of the Board
United Kingdom
26 June 2026
JSE Sponsor to the Company
Questco Corporate Advisory Proprietary Limited
Date: 26-06-2026 03:55:00
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