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MAS PLC - Trading statement

Release Date: 04/09/2023 07:05
Code(s): MSP     PDF:  
Wrap Text
Trading statement

Registered in Malta
Registration number C 99355
JSE share code: MSP
ISIN: VGG5884M1041
LEI code: 213800T1TZPGQ7HS4Q13
(“MAS” or “the Company”)


Shareholders are referred to the voluntary trading and strategy update announcement released on 29 June 2023
wherein stakeholders were advised that MAS’ Board of Directors (“Board”) was undertaking a comprehensive
process of reviewing the Company’s strategy and its stated strategic objectives, following significant market
changes which have affected the underlying assumptions in respect of debt financing cost and availability.

As part of the strategic review, the Board reconsidered MAS’ capital structure and its self-imposed, long-term
overall debt limitations and determined that it is in the best interests of the Company to accumulate liquidity to
cater for a more robust capital structure in the context of the current challenging funding environment, reducing
anticipated overall future debt levels and to cover the bond redemption and medium-term funding commitments
as they fall due.

Accordingly, the Board has resolved to retain diluted adjusted distributable earnings in full until such time as these
objectives have been substantially met and thus no dividend for the six-month period to 30 June 2023 will be paid
(six-month period to 30 June 2022: 3.82eurocents per share; six-month period to December 2022: 4.36eurocents
per share).

The outcome of this strategic review will be discussed in detail with the release of MAS’ financial results for the
financial year to 30 June 2023. MAS expects to release its financial results today, 4 September 2023.

The financial information on which this trading statement is based has not been reviewed or reported on by the
Company’s auditors.

4 September 2023

For further information please contact:
 Leon Allison, MAS P.L.C.                        +27 82 307 3667
 Dan Petrisor, MAS P.L.C.                        +356 77 186 791
 Java Capital, JSE Sponsor                       +27 11 722 3050

Date: 04-09-2023 07:05:00
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