Southern Charter Financial Group 2020 Full Year Result

Southern Charter Financial Group Limited (NZSX: SNC) is pleased to release its Annual Report for the year ended 31 March 2020. Financial Results The Company reported a net loss attributable to shareholders of $159,877 for the year. This compares with a net loss attributable to shareholders of $112,997 for the previous year. The financial results consisted mainly of expenditure relating to the maintenance of the listed company and interest earned on short term cash deposits, as well as activities related to work undertaken on evaluation of suitable businesses for acquisition. Outlook The Company remains in a position with a strong balance sheet which includes significant cash resources. The Company has considered a number of possible acquisitions and the Board intends on securing a suitable acquisition prior to the 31 March 2021 year end. The Company will seek shareholder approval as required to complete any transaction. On behalf of the Directors of Southern Charter Financial Group the Company extends its thanks to the shareholders for their support of the Company. Please refer to the attached Annual Report for the detailed results. For further information, please contact: John Cilliers Director Southern Charter Financial Group Email: john.cilliers@outlook.co.nz End CA:00355357 For:SNC Type:ANNREP Time:2020-06-29 08:31:21