NGE CAPITAL LIMITED For personal use only
NGE CAPITAL LIMITED
APPENDIX 4E
Results for announcement to the market
For the year ended 31 December 2021
All comparisons to year ended 31 December 2020. | |||
Result Information | $'000 | Up/Down | % change |
Revenue from ordinary activities | 8,299 | Up | 663.8% |
Profit/(loss) after tax for the year - ordinary | 7,337 | Up | 383.6% |
activities | |||
Total comprehensive income for the year after tax | 7,337 | Up | 383.6% |
attributable to members of the parent entity |
Dividend information
No dividends or distributions have been paid or provided during the year.
There are no dividend or distribution reinvestment plans in operation.
Net Tangible Asset Information | 31 Dec 2021 | 31 Dec 2020 | Movement |
Net tangible asset backing per ordinary share | $0.979 | $0.783 | 25.1% |
before tax | |||
Additional Appendix 4E disclosure requirements can be found in the notes to the Annual Report attached hereto.
This report is based on the consolidated financial statements which have been audited by Grant Thornton.
This announcement is approved and authorised for release by the NGE Capital Limited Board.
NGE Capital Limited
ABN 31 112 618 238 Level 4, 100 Albert Road South Melbourne VIC 3205 +61 3 9648 2290 admin@ngecapital.com.auwww.ngecapital.com.au
CONTENTS
For personal use only
NGE
Capital
Limited
ABN 31 112 618 238
Annual Report 2021
For personal use only
CONTENTS
Overview
Corporate Directory
Chairman's Letter
Directors' Report
Auditor's Independence Declaration
Corporate Governance Statement
Financial Statements
Notes to the Financial Statements Directors' Declaration Independent Auditor's Report Additional Information
3
4
5
10
22
23
24
28
49
50
53
NGE Capital Limited and Controlled Entities | 2 |
Annual Report for the year ended 31 December 2021 |
For personal use only
OVERVIEW
NGE Capital Limited (ASX:NGE) is a Listed Investment Company which allows investors to gain exposure to a concentrated, high conviction, actively managed portfolio of financial assets.
We primarily focus on listed ASX and international equities, with the aim of generating strong risk-adjusted returns over the medium to long term.
25.1% | 39.1% | KEY METRICS AS AT 31 DEC 2021 | |||
Share Price | $0.765 | ||||
2021 NTA PER SHARE | 2021 SHARE PRICE | Shares Outstanding | 36.07m | ||
INCREASE | INCREASE | ||||
Market Cap | $27.6m | ||||
13.7% p.a. | 91.9% | ||||
NTA per share before tax | $0.979 | ||||
NTA PER SHARE | AGGREGATE NTA PER | NTA per share after tax | $1.043 | ||
INCREASE SINCE | SHARE INCREASE | Net Tangible Asset Value | $35.3m | ||
INCEPTION (p.a.) (1) | SINCE INCEPTION (1) | ||||
Directors' Shareholding | 14.6% | ||||
Note: Investment returns are net of all expenses.
1 From 30 November 2016, the date on which NGE became a Listed Investment Company.
INVESTMENT PHILOSOPHY
TARGET STRONG RETURNS WITH ADEQUATE MARGIN OF SAFETY
- Individual securities can and do significantly deviate away from their fair value.
- Potential to generate strong risk-adjusted returns by investing in select securities at opportune times.
HOLD A HIGH CONVICTION, CONCENTRATED PORTFOLIO
- Only invest in a compelling opportunity, otherwise hold cash.
- Prefer to invest heavily in a small number of high conviction opportunities than invest small amounts in a large number of less compelling opportunities.
INVEST BASED ON FUNDAMENTAL ANALYSIS
- Bottom up stock selection, focusing on the fundamentals of individual companies rather than market trends.
- Conduct extensive proprietary research with a focus on:
- Board and management - track record, skin in the game.
- Credit risk - gearing, debt profile, interest coverage.
- Earnings - free cash flows including timing and likelihood, margins, payout ratio, and growth potential.
- Valuation - multiples, discounted cash flow analysis, break-up value.
- Competition - market share, industry position, market dynamics.
NGE Capital Limited and Controlled Entities | 3 |
Annual Report for the year ended 31 December 2021 |
For personal use only
CORPORATE DIRECTORY
DIRECTORS | |
David Lamm | Executive Chairman and Chief Investment Officer |
Ilan Rimer | Non-Executive Director |
Adam Saunders | Executive Director and Portfolio Manager |
COMPANY SECRETARY | |
Leslie Smith | |
REGISTERED OFFICE | |
Level 4 | |
100 Albert Road | |
South Melbourne VIC 3205 | |
Telephone: | 03 9648 2290 |
Facsimile: | 03 7000 5077 |
Email: | office@ngecapital.com.au |
WEBSITE | |
www.ngecapital.com.au | |
STOCK EXCHANGE LISTINGS | |
ASX Limited | OTC Markets |
20 Bridge Street | 304 Hudson Street, 3rd Floor |
Sydney NSW 2000 | New York, NY 10013 |
USA | |
ASX CODE: NGE | OTC CODE: NGELF |
SHARE REGISTRY | |
Boardroom Pty Limited | |
Level 12, 225 George Street | |
Sydney NSW 2000 | |
Telephone: | 1300 737 760 |
02 9290 9600 | |
Facsimile: | 1300 653 459 |
02 9290 0644 | |
Website: | www.boardroomlimited.com.au |
AUDITORS | SOLICITORS |
Grant Thornton | Clayton Utz |
Collins Square, Tower 5 | Level 18 |
727 Collins Street | 333 Collins Street |
Docklands VIC 3008 | Melbourne VIC 3000 |
NGE Capital Limited and Controlled Entities | 4 |
Annual Report for the year ended 31 December 2021 |
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NGE Capital Ltd. published this content on 27 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 February 2022 22:11:10 UTC.
