BENTLEY CAPITAL LIMITED — Net Asset Value 2021

Jan 7, 2021

ASX Code: BEL

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Friday, 8 January 2021

MARKET ANNOUNCEMENT

NTA Backing as at 31 December 2020

Bentley Capital Limited (ASX Code: BEL) gives notice that its unaudited after-tax Net Tangible Assets ( NTA ) Backing as at 31 December 2020 was $0.1306 per share.

		Current Month	Previous Month
NTA Backing for Period Ending:	% Change	31 December 2020	30 November 2020
Pre-Tax NTA Backing per share	+0.21%	$0.1306	$0.1303
Post-Tax NTA Backing per share	+0.21%	$0.1306	$0.1303
Based on total issued share capital		76,127,918	76,127,918

Bentley’s NTA position comprises the following items:

	Current Month	Previous Month
NTA Components:	31 December 2020	30 November 2020
	$’m	$’m
Non-current asset held for sale – Strike Resources Limited	7.36	7.09
Other listed securities	0.82	0.88
Managed funds	0.34	0.34
Cash	1.79	1.85
Net other assets/(liabilities)	(0.37)	(0.24)
Net Tangible Asset	9.94	9.92

Bentley’s major securities holdings as at 31 December 2020 were:

Security	ASX Code/ Description	Industry Sector	Value $’m	% of NTA
Strike Resources Limited	SRK	Materials	7.36	74.0%
Yowie Group Ltd	YOW	Food, Beverage	0.82	8.1%
Managed funds	Unlisted	Diversified	0.34	3.5%
Other listed securities	Various	Various	0.01	0.1%

Bentley has valued its 52,553,493 shareholding in Strike Resources Limited (ASX:SRK) based on the $0.14 last bid price as at 31 December 2020 (30 November: $0.135). Bentley notes that Strike’s current bid price was $0.155 (as at 8 January 2021).

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www.bel.com.au

BENTLEY CAPITAL LIMITED

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----- Start of picture text ----- ASX : BEL----- End of picture text -----

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

20210108 BEL ASX NTA Backing as at 31 December 2020.docx

NOTES:

• (1) Bentley’s investment in Strike Resources Limited (ASX:SRK) is regarded as an investment in a Non-Current Asset Held For Sale and is accounted for under Accounting Standard AASB 5. Refer Note 9 (Non-Current Asset Held for Sale) on page 34 of Bentley’s 30 June 2020 Annual Report for further information in this regard.

Bentley has accounted for its investment in SRK (52,553,493 shares being 24.2% of SRK’s total issued share capital) (30 November 2020: 52,553,493 shares; 25.37%) at a carrying value of $7.36 million (based on the closing bid price on ASX of 14 cents per share) at month end on this basis (30 November 2020: $7.09 million; 13.5 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 Company Secretary

T | (08) 9214 9757 E | cosec@bel.com.au

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