KEYBRIDGE CAPITAL LIMITED — Net Asset Value 2021

Oct 12, 2021

ASX Codes : KBC

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Tuesday, 12 October 2021

ASX MARKET ANNOUNCEMENT

NET ASSET BACKING – SEPTEMBER 2021

Keybridge Capital Limited (ASX:KBC) gives notice that its unaudited after-tax Net Asset Backing as at 30 September 2021 was 7.07 cents per share.

Net Asset Backing

Net Asset Backing
		Current	Previous	Year
	%	Month	Month	End
Net Asset Backing for Period Ending:	Change	30 Sep 2021	31 Aug 2021	30 Jun 2021
Pre-Tax Net Asset Backing per share	1.88%	$0.0707	$0.0694	$0.0686
Post-Tax Net Asset Backing per share	1.88%	$0.0707	$0.0694	$0.0686
Total issued(listed)share capital(Note 1)		208,149,961	208,149,961	199,808,982

Net Assets

Net Assets
	Current	Month	Previous Month
	30 Sep	2021	31 Aug 2021
		% of Net
	$’million	Assets	$’million
Cash and cash equivalent	0.185	1.3%	0.112
Listed Securities	7.897	53.6%	8.046
Managed Funds	1.778	12.1%	1.564
Other Investments	0.727	4.9%	0.398
Loan Receivables:
•Private Equity	0.000	0.0%	0.0
•Insurance(Note 2)	3.813	25.9%	3.820
•Property(Note 3)	0.835	5.7%	0.835
•Other	0.000	0.0%	0.0
Other Assets	0.203	1.4%	0.188
Provision for tax	-	-	-
Derivatives	1.101	7.5%	0.998
Margin loan (net)	0.114	0.8%	0.050
Other Liabilities	(1.930)	(13.1%)	(1.561)
Net Assets	14.723	100%	**14.451 **

Keybridge Capital Limited | Registered Office | Company Secretarial Enquiries |

ABN 16 088 267 190 | ASX Codes KBC; KBCPA | Web www.keybridge.com.au Suite 614, Level 6, 370 St Kilda Road, Melbourne, Victoria 3004, Australia Telephone +61 3 9686 7000 Email cosec@keybridge.com.au

Currency Exposure

Currency Exposure
	Current Month	Previous Month
% of Net Assets	30 Sep 2021	31 Aug 2021
Australian Dollars	72.1%	71.5%
Euros	0.0%	0.0%
US Dollars	0.0%	0.0%
New Zealand Dollars	27.9%	28.5%

This announcement was authorised for release by the Managing Director.

FOR FURTHER INFORMATION:

John Patton Company Secretary Tel: +61 3 9686 7000 Email: cosec@keybridge.com.au

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 January 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).

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.

• (3) Loan Receivables – Property : In September 2014, Keybridge took direct control of loans that

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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