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Audited Results Announcement for the year ended 31 December 2023 and Final Dividend Declaration
South Ocean Holdings Limited
(Registration number 2007/002381/06)
Incorporated in the Republic of South Africa
("South Ocean Holdings")
Share Code : SOH ISIN: ZAE000092748
Audited Results Announcement for the year ended 31 December 2023 and Final Dividend Declaration
South Ocean Holdings ("the Group" or "the Company") is an investment holding company, comprising three operating
subsidiaries which manufacture low voltage electrical wire, cables and accessories and which hold property for
investment purposes. An extract from the audited consolidated annual financial statements is set out below:
SALIENT FEATURES
31 December 31 December
2023 2022 Percentage
Audited Audited Change
Revenue R2 364 million R1 873 million 26%
Operating Profit R142.9 million R60.9 million 135%
Earnings per share (cents) 43.60 22.12 97%
Headline earnings per share (cents) 43.60 21.96 99%
Dividend per share (cents) 11.00 6.00 83%
Tangible Net Asset Value per share (cents) 329.8 292.2 13%
The 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 full announcement can be found on the Company's
website at www.southoceanholdings.co.za and can be viewed at the following link:
https://senspdf.jse.co.za/documents/2024/JSE/ISSE/SOH/SOHAR2023.pdf
DIVIDEND DECLARATION
The Board has declared a final dividend of 11.00000 cents per ordinary share, which amounts to 25% of headline
earnings. The dividend is declared out of income reserves of the Group. The dividend will be subject to a dividend
withholding tax rate of 20% or 2.20000 cents per ordinary share. Shareholders, unless exempt or qualifying for a reduced
withholding tax rate, will receive a net dividend of 8.80000 cents per ordinary share. South Ocean's tax reference number
is 9341037167.
The number of ordinary shares which will be eligible for the dividend at the declaration date is 203 276 794.
The salient dates for the dividend will be as follows:
2024
Last date to trade "cum" dividend Tuesday, 16 April
Shares commence trading "ex" dividend Wednesday 17 April
Record date (date shareholders recorded in share register) Friday,19 April
Payment date Monday, 22 April
Shareholders may not dematerialise or re-materialised their share certificates between Wednesday, 17 April 2024 and
Friday, 19 April 2024, both dates inclusive.
The Company's auditors, PricewaterhouseCoopers Inc, issued an unmodified audit opinion on the annual financial
statements for the year ended 31 December 2023.
The unqualified audit opinion, which includes communication on key audit matters and the full details of the basis for
the unqualified opinion, can be accessed by the following link:
https://southoceanholdings.co.za/Pages/Financial-Archives.asp
Copies of the full announcement may also be requested from the Company or inspected at the company's registered
office and at the offices of the sponsor, at no charge, during office hours. Any investment decision should be based on
the full announcement published on SENS and on the Company's website.
For and on behalf of the board
KH Pon CA(SA) A Smith
Independent Non-Executive Director (Chairperson) Executive Director (Chief Executive Officer)
Johannesburg
18 March 2024
Directors: KH Pon# (Chairperson), HL Li#º (Deputy Vice-Chairperson), A Smith* (Chief Executive Officer), WP
Basson* (Chief Financial Officer), N Lalla#, J van Rensburg?, LL Chen?^, M Chong#, JH Yeh#, DJC Pan ?@
(Alternate), SN Yeh ?º (Alternate), * Executive
# Independent Non-executive ? Non-executive º Taiwanese @ Brazilian ^ Hong Kong
Corporate Information
Registered Office: 12 Botha Street, Alrode 1451, P.O. Box 123738, Alrode, 1451, Telephone: +27(11) 864 1606,
Telefax: +27(86) 628 9523, Website: www.southoceanholdings.co.za
Company Secretary: WT Green, 21 West Street, Houghton, 2198, P.O. Box 123738, Alrode, 1451
Sponsor: AcaciaCap Advisors Proprietary Limited, (Registration No: 2006/033725/07), 20 Stirrup Lane, Woodmead
Office Park, Woodmead, 2191 (Suite #439, Private Bag X29, Gallo Manor, 2052)
Share Transfer Secretary: Computershare Investor Services Proprietary Limited, Rosebank Towers, 15 Bierman
Avenue, Rosebank, Johannesburg, 2196, P.O. Box 61051, Marshalltown, 2107, South Africa Telephone: +27(11) 370
5000, Telefax: +27(11) 688 5200 Website: www.computershare.com
Auditors: PricewaterhouseCoopers Inc. 4 Lisbon Lane, Waterfall City, Jukskei View, Johannesburg, 2090.
Telephone: +27(11) 797 4000 Telefax +27(11) 797 5800, Website: www.pwc.co.za
Date: 20-03-2024 01:24:00
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