For personal use only
Thorney Opportunities Ltd
ABN 41 080 167 264
Appendix 4D and
2022 Half-Year
Financial Statements
For personal use only
THORNEY OPPORTUNITIES LTD
ABN 41 080 167 264
APPENDIX 4D (Listing Rule 4.2A3)
RESULTS FOR ANNOUNCEMENT TO THE MARKET
(All comparisons to half-year ended 31 December 2020)
Movement | Up/ | Movement | ||||
$'000 | $'000 | Down | % | |||
Income from ordinary activities | 11,521 | 25,568 | Down | (69%) | ||
Profit before tax for the year | 8,225 | 21,859 | Down | (73%) | ||
Profit after tax for the year | 6,877 | 14,621 | Down | (68%) | ||
Dividend information | Amount per | Franked | Tax rate for | |||
share | amount per | franking | ||||
(cents) | share | credit | ||||
(cents) | ||||||
2022 | Interim dividend per share | 1.00 | 1.00 | 25.0% | ||
2021 | Final dividend per share | 1.35 | 1.35 | 25.0% | ||
2021 | Interim dividend per share | 0.80 | 0.80 | 30.0% | ||
2022 | Interim dividend dates | |||||
Ex-dividend date | 15-Mar-22 | |||||
Record date | 16-Mar-22 | |||||
Interim dividend payment date | 31-Mar-22 |
The Company's Dividend Reinvestment Plan (DRP) will not apply to the 2022 Interim dividend.
31-Dec-21 | 30-Jun-21 | 31-Dec-20 | |
Net tangible asset backing per ordinary | 72.6 cents | 70.4 cents | 70.6 cents |
share | |||
This report should be read in conjunction with the Thorney Opportunities Ltd 2021 Annual Report.
Additional information supporting the Appendix 4D disclosure requirements can be found in the Directors' Report and the financial statements for the half-year ended 31 December 2021.
This report is based on the financial statements for the half-year ended 31 December 2021 which have been reviewed by Ernst & Young.
Level 39, 55 Collins Street, Melbourne Vic 3000
Telephone + 61 3 9921 7116 Facsimile + 61 3 9921 7100
For personal use only
Company particulars
Thorney Opportunities Ltd is a disclosing entity under the Corporations Act 2001 and currently considered an investment entity pursuant to ASX Listing Rules. The Company is primarily an investor in listed equities on the Australian securities market.
ASX Code: | TOP |
Security: | Thorney Opportunities Ltd fully paid ordinary shares |
Directors: | Alex Waislitz, Chairman |
Ashok Jacob | |
Henry Lanzer AM | |
Dr Gary Weiss AM | |
Secretary: | Craig Smith |
Country of incorporation | Australia |
Registered office: | Level 39, 55 Collins Street |
Melbourne Vic 3000 |
Contact details: Level 39, 55 Collins Street
Melbourne Vic 3000
- + 613 9921 7116
- + 613 9921 7100
- craig.smith@thorney.com.au
- www.thorneyopportunities.com.au
Investment Manager: Thorney Management Services Pty Ltd
Level 39, 55 Collins Street
Melbourne Vic 3000
AFSL: 444369
Auditor: Ernst & Young, Melbourne
8 Exhibition Street
Melbourne Vic 3000
Lawyers: Arnold Bloch Leibler
Level 21, 333 Collins Street
Melbourne Vic 3000
Share Registry: Boardroom Pty Limited
Level 12, 225 George Street
Sydney NSW 2000
- + 612 9290 9600
- + 612 9279 0664
- www.boardroomlimited.com.au
For all shareholder related enquiries please contact the share registry.
Thorney Opportunities Ltd 2022 Half-Year Financial Statements | Page | 2 |
For personal use only
Contents
Directors' report
- Directors
- Principal activities
- Review of operations
- Subsequent events
- Auditor's independence declaration
Auditor's independence declaration Statement of comprehensive income Statement of financial position Statement of changes in equity Statement of cash flows
Notes to the financial statements Directors' declaration Independent auditor's review report
Thorney Opportunities Ltd 2022 Half-Year Financial Statements | Page | 3 |
Chairman's letter
For personal use only
Dear fellow Shareholders
I am pleased to report that TOP's Net Tangible Asset backing (NTA) after tax and fees as at 31 December 2021 closed at 72.6 cents per share, an increase of 3.1% compared to the NTA of 70.4 cents per share as at 30 June 2021. In addition, TOP also paid a 1.35 cents per share fully franked dividend during the period.
The increase in TOP's NTA in the six months ended 31 December 2021 was principally driven by an increase in the carrying value of TOP's investment in Australian Community Media (ACM) which includes its 22.99% investment in PRT Company Limited (formerly Prime Media Group Ltd). There were also positive contributions made by listed portfolio positions including Money3 Corporation Limited.
Since 31 December 2021, the portfolio has seen a number of strong contributions from investments in the infrastructure and resource services sector, including Austin Engineering Limited and MMA Offshore Limited.
On the back of TOP's performance, directors have declared an interim dividend for the December half year of 1.00 cent per share fully franked, an increase of 25% compared to the dividend declared in the previous corresponding period.
I maintain my optimism in the inherent value in TOP's portfolio and confident that the value will be realised over time. Nevertheless, TOP's share price remains at a significant discount to NTA and, as previously outlined, the Board has implemented a number of strategies to narrow the share price discount, including extending the on-market share buyback program to 18 February 2023, the launch of our revamped website, increased investor relations resourcing, undertaking more transparent reporting and continuing to hold podcasts and other investor briefings.
Yours sincerely,
Alex Waislitz
Chairman
21 February 2022
Thorney Opportunities Ltd 2022 Half-Year Financial Statements | Page | 4 |
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Thorney Opportunities Limited published this content on 20 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 February 2022 22:50:04 UTC.