Tacoma // Denver // Sydney // Melbourne
30 August 2021
Company Announcements
For Immediate Release
ASX Code: PAC
APPENDIX 4E AND FINANCIAL REPORT FOR PACIFIC CURRENT GROUP LIMITED
In accordance with the Listing Rules of the Australian Securities Exchange ("ASX"), Pacific Current Group Limited encloses for immediate release the following information:
- Appendix 4E, the Preliminary Final Report for the Year ended 30 June 2021; and
- The Audited Financial Report for the Year ended 30 June 2021
AUTHORISED FOR LODGEMENT BY:
The Board of Pacific Current Group Limited
‐ENDS‐
CONTACT
For Investor & Media Enquiries:
- Paul Greenwood - Managing Director & CEO and CIO
- pgreenwood@paccurrent.com
- (+1) 253 617 7815
ABOUT PACIFIC CURRENT GROUP LIMITED
Pacific Current Group Limited is a multi‐boutique asset management firm dedicated to providing exceptional value to shareholders, investors, and partners. We apply our strategic resources, including capital, institutional distribution capabilities and operational expertise to help our partners excel. At the date of this announcement, Pacific Current Group Limited has investments in 15 boutique asset managers.
Pacific Current Group Limited (ABN 39 006 708 792)
Level 3, Suite 3 257 Collins Street, Melbourne VIC 3000 Australia
www.paccurrent.com
Tel: +61 2 8243 0400
PACIFIC CURRENT GROUP LIMITED
(ABN 39 006 708 792)
ASX LISTING RULES - APPENDIX 4E
PRELIMINARY FINAL REPORT FOR THE YEAR ENDED 30 JUNE 2021
The following information is presented in accordance with Listing Rule 4.3A of the Australian Securities Exchange ("ASX").
1. Details of the reporting period and the previous corresponding period
Current reporting period | ‐ the year ended 30 June 2021 |
Previous corresponding period | ‐ the year ended 30 June 2020 |
2. Results for announcement to the market
Year ended | 30 June 2021 | 30 June 2020 | Increase /(Decrease) | ||
$'000 | $'000 | $'000 | % | ||
2.1 | Revenue from ordinary activities | 47,046 | 62,726 | (15,680) | (25.00) |
Net profit/(loss) before tax | 23,465 | (27,317) | 50,782 | 185.90 | |
Underlying net profit before tax | 32,578 | 32,072 | 506 | 1.58 | |
Underlying net profit after tax | 26,540 | 26,254 | 286 | 1.09 |
2.2 Net profit profit/(loss) from
ordinary activities after tax | |||||
attributable to members | 17,413 | (17,509) | 34,922 | 199.45 | |
Underlying net profit (from | |||||
ordinary activities after tax | |||||
attributable to members | 26,265 | 25,034 | 1,231 | 4.92 | |
2.3 | Net profit/(loss) for the period | (17,509) | 34,922 | 199.45 | |
attributable to members | 17,413 | ||||
Underlying net profit/(loss) for the | |||||
period attributable to members | 26,265 | 25,034 | 1,231 | 4.92 |
Underlying results are unaudited Non‐IFRS measures. Refer to the attached Financial Report for details of these calculations.
2.4 Dividends (distributions) | Amount per | Franking amount | Conduit foreign |
security (cents) | per security | income per security | |
2021 Final | 26 | 100% | n/a |
- Record date for determining entitlements to the dividend 9 September 2021
-
Commentary on "Results for Announcement to the Market"
A brief explanation of any figures in 2.1 to 2.4 above, necessary to enable the figures to be understood, is contained in the attached Audited Financial Report for the Year ended 30 June 2021.
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PACIFIC CURRENT GROUP LIMITED
(ABN 39 006 708 792)
ASX LISTING RULES - APPENDIX 4E
PRELIMINARY FINAL REPORT FOR THE YEAR ENDED 30 JUNE 2021
-
A statement of comprehensive income
A statement of comprehensive income together with notes to the statement is contained in the attached Audited Financial Report for the Year ended 30 June 2021. - A statement of financial position
A statement of financial position together with notes to the statement is contained in the attached Audited Financial Report for the Year ended 30 June 2021. - A statement of cash flows
A statement of cash flows together with notes to the statement is contained in the attached Audited Financial Report for the Year ended 30 June 2021. - A statement of changes in equity
A statement of changes in equity together with notes to the statement is contained in the attached Audited Financial Report for the Year ended 30 June 2021. - Details of individual and total dividends or distributions and dividend or distribution payments.
Type | Record date | Payment date | Amount | Total | Franked | Conduit |
per | Dividend | amount | foreign | |||
Security | ($) | per | income | |||
(cents) | security | per | ||||
security | ||||||
2020 Final | 18 September 2020 | 23 October 2020 | 25.0 | 12,427,121 | 100% | n/a |
2021 Interim | 5 March 2021 | 15 April 2021 | 10.0 | 5,081,797 | 100% | n/a |
- Details of any dividend or distribution reinvestment plans
On 27 August 2020, the Board approved a Dividend Reinvestment Plan ("DRP") for the Company. The Company's DRP will apply to the FY21 Final dividend.
The last election date for the DRP will be 10 September 2021. - Net tangible assets per security
30 June 2021 | 30 June 2020 | |
Net tangible assets per security | $6.89 | $6.84 |
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PACIFIC CURRENT GROUP LIMITED
(ABN 39 006 708 792)
ASX LISTING RULES - APPENDIX 4E
PRELIMINARY FINAL REPORT FOR THE YEAR ENDED 30 JUNE 2021
10. Details of entities over which control has been gained or lost during the period During the period, control was gained over the following entities:
Name of entity | Date control gained |
Nil
During the period, control was lost over the following entities:
Name of entity | Date control lost | |||
Seizert Capital Partners LLC | 30 November 2020 | |||
11. | Details of associates and joint venture entities | |||
Ownership % | ||||
Associates | 30 June 2021 | 30 June 2020 | ||
Aether General Partners | 25.00 | 25.00 | ||
ASOP Profit Share LP 1 | 39.31 | ‐ | ||
Astarte Capital Partners, LLP 1 | 44.90 | ‐ | ||
Blackcrane Capital, LLC | 25.00 | 25.00 | ||
Capital & Asset Management Group, LLP 2 | 36.25 | 32.50 | ||
IFP Group, LLC | 24.90 | 24.90 | ||
Northern Lights Alternative Advisors LLP | 23.00 | 23.00 | ||
Roc Group | 30.01 | 30.01 | ||
Victory Park Capital Advisors, LLC | 24.90 | 24.90 | ||
Victory Park Capital GP Holdco, LP | 24.90 | 24.90 | ||
Copper Funding, LLC | 50.00 | 50.00 | ||
Pennybacker Capital Management, LLC | 16.50 | 16.50 | ||
30 June 2021 | 30 June 2020 | |||
$'000 | $'000 | |||
PAC share of profits of associates/joint venture 3 | 6,608 | 1,751 |
Notes:
- - Acquired on 19 March 2021 under one transaction.
- - Additional capital contributions made during the year increased the ownership from 32.50% at 30 June 2020 to 36.25% as at 30 June 2021.
- - Further information on the contribution of these entities to the financial performance and financial position of the entity is contained in the attached Audited Financial Report for the Year ended 30 June 2021.
-
Any other significant information needed by an investor
Further significant information needed by an investor to make an informed assessment of the entity's financial performance and financial position is contained in the attached Audited Financial Report for the Year ended 30 June 2021. - For foreign entities, which set of accounting standards is used in compiling the report Not applicable
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PACIFIC CURRENT GROUP LIMITED
(ABN 39 006 708 792)
ASX LISTING RULES - APPENDIX 4E
PRELIMINARY FINAL REPORT FOR THE YEAR ENDED 30 JUNE 2021
-
A commentary on the results for the period
A commentary, including any significant information needed by an investor to make an informed assessment of the entity's activities and results, is contained in the attached Audited Financial Report for the Year ended 30 June 2021. - Audit / Review of Accounts upon which this report is based and qualification of audit / review
This Financial Report is based on the attached Annual Financial Report for the Year ended 30 June 2021 which includes the Independent Auditors Report. The Annual Financial Report for the year ended 30 June 2021 is not subject to a modified opinion, emphasis or other matter paragraph.
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Pacific Current Group Ltd. published this content on 30 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 August 2021 06:01:04 UTC.