BENTLEY CAPITAL LIMITED — Net Asset Value 2021

Jul 11, 2021

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Monday, 12 July 2021

ASX Code: BEL

MARKET ANNOUNCEMENT

NTA Backing as at 30 June 2021

Bentley Capital Limited (ASX Code: BEL) gives notice that its unaudited after-tax Net Tangible Assets ( NTA ) Backing as at 30 June 2021 was $0.2054 per share.

	Current Month Previous Month
NTA Backing for Period Ending: % Change	30 June 2021 31 May 2021
Pre-Tax NTA Backing per share +8.7% Post-Tax NTA Backing per share +8.7% Based on total issued share capital	$0.2054 $0.189 $0.2054 $0.189 76,127,918 76,127,918

Bentley’s NTA position comprises the following items:

	Current Month Previous Month
NTA Components:	30 June 2021 31 May 2021
	$’m $’m
Investment Strike Resources Limited (ASX:SRK) Other listed securities Managed funds Cash Net other assets/(liabilities) Net Tangible Asset	14.23 12.35 1.34 1.42 0.35 0.38 0.96 1.23 (1.24) (0.99)
	15.64 14.39

Bentley’s major securities holdings as at 30 June 2021 were:

Security	ASX Code/ Description	Industry Sector	Value $’m	% of NTA
Strike Resources Limited	SRK	Materials	14.23	91.0%
Yowie Group Ltd	YOW	Food, Beverage	0.87	5.6%
Lithium Energy Limited	LEL	Materials	0.46	3.0%
Managed funds	Unlisted	Diversified	0.35	2.2%
Other listed securities	Various	Various	0.01	<0.1%

Bentley has valued its 53,689,857 shareholding in Strike Resources Limited (ASX:SRK) based on the $0.265 last bid price as at 30 June 2021 (31 May 2021: $0.235). Bentley notes that Strike’s current bid price was $0.255 (as at 9 July 2021).

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www.bel.com.au

BENTLEY CAPITAL LIMITED

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ASX : BEL
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A.B.N. 87 008 108 218

Level 2, 31 Ventnor Avenue, West Perth, Western Australia 6005 T | (08) 9214 9757 F | (08) 9214 9701

F | (08) 9214 9701

E | info@bel.com.au

BEL ASX NTA Backing as at 30 June 2021.docx

NOTES:

• (1) Bentley has accounted for its investment in SRK (53,689,857 shares being 19.89% of SRK’s total issued share capital) (31 May 2021: 52,553,493 shares; 21.27%) at a carrying value of $14.23 million (based on the closing bid price on ASX of 26.5 cents per share) at month end (31 May 2021: $12.35 million; 23.5 cents).

• (2) Units invested in unlisted managed funds are valued at the unit price published by the fund administrator as at month end – the unit price reflects the net asset backing of the fund.

• (3) The post-tax NTA Backing per share figure is reported net of provision for tax liabilities on realised and unrealised gains on investments, in accordance with the Company’s income tax accounting policy. Refer Note 5 (Tax) on pages 30 and 31 of Bentley’s 30 June 2020 Annual Report for further information in this regard.

• (4) Bentley’s current accounting policy is to recognise deferred tax assets arising from its carried forward tax losses and its unrealised loss on investments only to the extent of offsetting any deferred tax liabilities arising from its unrealised gains on investments.

• (5) Bentley’s current accounting policy uses the first in-first out method of calculating gains or losses on sales of share investments.

AUTHORISED FOR RELEASE - FOR FURTHER INFORMATION:

Victor Ho T | (08) 9214 9757 Company Secretary E | cosec@bel.com.au

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