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KEYBRIDGE CAPITAL LIMITED — Net Asset Value 2021
Nov 11, 2021
65174_rns_2021-11-11_f434f0c4-a8d4-4c64-9e7d-ae0c99181ac3.pdf
Net Asset Value
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ASX Code: KBC
Friday, 12 November 2021
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ASX MARKET ANNOUNCEMENT
NET ASSET BACKING – OCTOBER 2021
Keybridge Capital Limited (ASX:KBC) gives notice that its unaudited after-tax Net Asset Backing as at 31 October 2021 was 6.95 cents per share.
Net Asset Backing
| Net Asset Backing | ||||
|---|---|---|---|---|
| Current | Previous | Year | ||
| % | Month | Month | End | |
| Net Asset Backing for Period Ending: | Change | 31 Oct 2021 | 30 Sep 2021 | 30 Jun 2021 |
| Pre-Tax Net Asset Backing per share | (0.05%) | $0.0695 | $0.0707 | $0.0686 |
| Post-Tax Net Asset Backing per share | (0.05%) | $0.0695 | $0.0707 | $0.0686 |
| Total issued(listed)share capital(Note 1) | 208,149,961 | 208,149,961 | 199,878,068 |
Net Assets
| Net Assets | |||
|---|---|---|---|
| Current | Month | Previous Month | |
| 31 Oct | 2021 | 30 Sep 2021 | |
| % of Net | |||
| $’million | Assets | $’million | |
| Cash and cash equivalent | 0.032 | 0.2% | 0.185 |
| Listed Securities(Note 4) | 7.868 | 54.4% | 7.897 |
| Managed Funds | 1.789 | 12.4% | 1.778 |
| Other Investments | 0.617 | 4.3% | 0.727 |
| Loan Receivables: | |||
| •Private Equity | 0.000 | 0.0% | 0.000 |
| •Insurance(Note 2) | 3.833 | 26.5% | 3.813 |
| •Property(Note 3) | 0.835 | 5.8% | 0.835 |
| •Other | 0.000 | 0.0% | 0.000 |
| Other Assets | 0.144 | 1.0% | 0.203 |
| Provision for tax | - | - | - |
| Derivatives | 0.962 | 6.7% | 1.101 |
| Margin loan (net) | 0.006 | 0.0% | 0.114 |
| Other Liabilities | (1.629) | (11.3%) | (1.930) |
| Net Assets | **14.457 ** | 100% | 14.723 |
Keybridge Capital Limited | Registered Office | Company Secretarial Enquiries |
ABN 16 088 267 190 | ASX Code KBC | Web www.keybridge.com.au Suite 614, Level 6, 370 St Kilda Road, Melbourne, Victoria 3004, Australia Telephone +61 3 9686 7000 Email [email protected]
Currency Exposure
| Currency Exposure | ||
|---|---|---|
| Current Month | Previous Month | |
| % of Net Assets | 31 Oct 2021 | 30 Sep 2021 |
| Australian Dollars | 71.9% | 72.1% |
| Euros | 0.0% | 0.0% |
| US Dollars | 0.0% | 0.0% |
| New Zealand Dollars | 28.1% | 27.9% |
This announcement was authorised for release by the Managing Director.
FOR FURTHER INFORMATION:
John Patton Company Secretary Tel: +61 3 9686 7000 Email: [email protected]
ABOUT KEYBRIDGE CAPITAL LIMITED (ASX: KBC)
KBC is an investment and financial services group with a diversified portfolio of listed and unlisted investments/loan assets including in private equity (US), life insurance (New Zealand), property and funds management sectors and substantial holdings (as at 31 October 2021) in HHY Fund (ASX:HHY), Metgasco Ltd (ASX:MEL), Molopo Energy Limited (ASX:MPO) and Yowie Group Ltd (ASX:YOW).
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NOTES:
-
(1) Net Asset Backing per share is based on Keybridge’s total listed shares on issue and excludes 6 million unlisted shares currently issued under the Company’s Executive Share Plan[1] .
-
(2) Loan Receivables – Insurance : In September 2014, Keybridge invested NZ$3.8m (A$3.4m) (via NZ$0.109m (10.13%) equity and NZ$3.691m notes) into Foundation Life, to finance Foundation’s acquisition of Tower Limited’s life insurance business in New Zealand in 2014. Interest of 9% pa is payable under the note, which is redeemable by noteholders in 50 years (May 2064) or by Foundation (from time to time).
-
(3) Loan Receivables – Property : In September 2014, Keybridge took direct control of loans that were held in a fund (where Keybridge was the remaining sole lender) which invested in first ranking mortgage loans over commercial properties. Keybridge has registered mortgages
over strata title lots comprising Conference Facilities at a Hotel located in Manly, Sydney as security for loans, which are owed by private companies (which are in liquidation).
As at 30 June 2021, the loan was carried (based on the Directors’ judgement) at a valuation of A$0.835m, after having regard to historical valuations conducted on the property. At month end, the loan was carried at A$0.835m.
- (4) As announced by Prime Media Group Limited (ASX: PRT) on 1 November 2021, regarding the sale of its business and assets to Seven West Media (for 36 cents per share), Keybridge held approximately 4% of Prime shares (totalling 14,563,977). The closing price of Prime securities at the end of October 2021 was 22.5 cents per share.
1 Refer KBC’s Notice of AGM released on ASX on 30 October 2014 and KBC’s ASX announcement dated 19 December 2014:
Appendix 3B and Further Detail Regarding Issuance of Loan Funded Shares
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