Glennon Small : Appendix 4D and Half Year Accounts - 31 December 2021

onlyTuesday, 15 February 2022

Company Announcements Australian Securities Exchange

useLevel 4, 20 Bridge Street Sydney NSW 2000

Financial Results - Half Year Ended 31 December 2021

In accordance with the Listing Rules, Glennon Small Companies Limited (ASX: GC1) encloses the

personalfollowing information authorised for release by GC1's Board of Directors: 1. Appendix 4D

2. Interim Report for the Half-Year Ended 31 December 2021

For more information, please contact:

Vivien Gacho

Joint Company Secretary

Glennon Small Companies Limited

Email:[e-mail]

Phone: [phone]

Website: www.glennon.com.au

For

Glennon Small Companies Limited (ASX: GC1) |ACN 605 542 229

1. [phone] | E: [e-mail] | W: www.glennon.com.au

Level 26, 44 Market Street, Sydney NSW 2000 | PO Box R281, Royal Exchange NSW 1225

For personal use only

Glennon Small Companies Limited

ABN 52 605 542 229

Appendix 4D Half-year report

for the half-year ended 31 December 2021

For personal use only

Glennon Small Companies Limited

ABN 52 605 542 229

Appendix 4D

For the half-year ended 31 December 2021

Half-year report

This half-year ended report is for the reporting half-year from 1 July 2021 to 31 December 2021. The previous corresponding period was 1 July 2020 to 31 December 2020.

Results for announcement to the market

				$'000
Revenue from ordinary activities	Down	5.40%	to	8,189
Profit before tax for the period	Down	13.32%	to	6,936
Profit from ordinary activities after tax attributable to members	Down	13.07%	to	4,903

Explanation of revenue and net profit

During the half-year, revenue from ordinary activities decreased to $8.189m (31 December 2020: $8.656m) and

net profit from ordinary activities decreased to $6.936m (31 December 2020: net profit of $8.002m). This decrease was mainly due to a lower combined realised and unrealised gains on the portfolio recognised during the half-year, amounting to $7.994m (31 December 2020: $8.466m).

Dividends

Interim and final dividends on ordinary shares paid were fully franked at 30% and dividends on Resettable Redeemable Convertible Preference Shares ("RRCPS") were unfranked (2020: interim dividends on ordinary shares paid were fully franked at 30% and final dividends on ordinary shares paid were unfranked).

	Dividend	Total
	Rate	Amount	Date of	Percentage
	$	$'000	Payment	Franked
2021
RRCPS - final 2021	0.28	160	30/09/2021	0%
Ordinary shares - final 2021	0.022	1,081	30/09/2021	100%
RRCPS - interim 2021	0.1841	105	31/03/2021	0%
Ordinary shares - interim 2021	0.01	460	31/03/2021	100%
2020
Ordinary shares - final 2020	0.02	881	16/10/2020	0%
Ordinary shares - interim 2020	0.01	440	12/03/2020	100%

In addition to the above dividends, the Directors have announced:

• An interim ordinary dividend of 1 cent per fully paid share, fully franked at 30%, to be paid on 31 March 2022 out of profits reserve at 31 December 2021.
• An unfranked dividend on Resettable Redeemable Convertible Preference Shares ("RRCPS") of 28 cents per RRCPS to be paid on 31 March 2022.

Dividends on RRCPS are recorded as finance costs (rather than "dividends") for accounting purposes.

In relation to the ordinary dividends, shareholders may elect to have all or part of their dividend entitlements satisfied by the issue of new ordinary shares rather than by being paid in cash. Shares will be issued at a 3% discount to the issue price for the 10 trading days to the record date, being the trading days from

3 March 2022 to 16 March 2022 (inclusive).

For personal use only

	Glennon Small Companies Limited
	ABN 52 605 542 229
		Appendix 4D
	For the half-year ended 31 December 2021
		(continued)
Dividend dates
Ex-dividend date		15/03/2022
Record date		16/03/2022
Last election date for the DRP (for ordinary shares only)		17/03/2022
Payment date		31/03/2022
Net tangible assets (NTA)
	31 December	31 December
	2021	2020
	$	$
Net tangible asset backing (per share) after tax**	1.0307	0.9248
Net tangible asset backing (per share) before tax*	1.1161	0.9549

*As required by the ASX listing rules, this is the theoretical NTA before providing for the estimated tax on unrealised income and gains, and includes $0.05 (2020: $0.05) per share deferred tax asset (comprised of prior years' tax losses and current year tax losses/profits).

**Includes all tax balances and selling costs

Dividend Reinvestment Plan (DRP)

The Company has established a dividend reinvestment plan under which holders of ordinary shares may elect to have all or part of their dividend entitlements satisfied by the issue of new ordinary shares rather than by being paid in cash. Shares are issued under the plan at a discount to the market price as specified by the Company from time to time in accordance with the Corporations Act 2001 and the Listing Rules.

The final date for receipt of an election notice for participation in the Dividend Reinvestment Plan is

17 March 2022. Shares issued under the DRP will rank equally with existing ordinary shares. The Company reserves the right to issue DRP shortfall shares at Directors' discretion.

Further information

This report is based on the Interim Report which has been subject to independent review by the auditors, Pitcher Partners Sydney. All the documents comprise the information required by Listing Rule 4.2A. This information should be read in conjunction with the 30 June 2021 Annual Financial Report.

Sydney

15 February 2022

For personal use only

Glennon Small Companies Limited

ABN 52 605 542 229

Interim Report

for the half-year ended 31 December 2021