PACIFIC CURRENT GROUP LIMITED For personal use only
Tacoma // Denver // Sydney // Melbourne
25 February 2022
Company Announcements
For Immediate Release
ASX Code: PAC
APPENDIX 4D AND CONDENSED INTERIM 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 4D, the Half Year Report for the half year ended 31 December 2021; and
- The Condensed Interim Financial Report for the half year ended 31 December 2021.
AUTHORISED FOR LODGEMENT BY:
The Board of Pacific Current Group Limited
ENDS.
CONTACT:
For Investor and Media enquiries:
- Paul Greenwood - Managing Director & CEO and CIO E: pgreenwood@paccurrent.com
T: (+1) 253 617 7815
ABOUT PACIFIC CURRENT GROUP
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. Pacific Current Group has investments in 16 boutique asset managers globally.
Pacific Current Group Limited (ABN 39 006 708 792)
Suite 3 Level 3, 257 Collins Street, Melbourne VIC 3000 Australia
www.paccurrent.com
Tel: +61 3 8375 9611
For personal use only
PACIFIC CURRENT GROUP LIMITED
(ABN 39 006 708 792)
ASX LISTING RULES - APPENDIX 4D
HALF YEAR REPORT FOR THE HALF YEAR ENDED 31 DECEMBER 2021
The following information is presented in accordance with ASX Listing Rule 4.2.A.3.
1. Details of the reporting period and the previous corresponding period
Current reporting period ‐ the half year ended 31 December 2021
Previous corresponding periods ‐ the half year ended 31 December 2020
- the financial year ended 30 June 2021
2. Results for announcement to the market Six‐month period ended 31 December
2021 | 2020 | Increase /(Decrease) | |||
$'000 | $'000 | $'000 | % | ||
2.1 | Revenue from ordinary | ||||
activities | 18,978 | 23,645 | (4,667) | (19.74) | |
Net (loss)/profit before tax | (22,297) | 15,165 | (37,462) | (247.03) | |
Underlying net profit before tax | 18,073 | 13,665 | 4,408 | 32.26 | |
Underlying net profit after tax | 14,783 | 11,495 | 3,288 | 28.60 |
2.2 Net (loss)/profit from ordinary
activities after tax attributable | |||||
to members | (16,553) | 11,625 | (28,178) | (242.39) | |
Underlying net profit from | |||||
ordinary activities after tax | |||||
attributable to members | 14,594 | 11,578 | 3,016 | 26.05 | |
2.3 | Net (loss)/profit for the period | ||||
attributable to members | (16,553) | 11,625 | (28,178) | (242.39) | |
Underlying net profit for the | |||||
period attributable to members | 14,594 | 11,578 | 3,016 | 26.05 |
Underlying results are unaudited Non‐IFRS measures. Refer to the attached Condensed Interim Financial Report for the half year ended 31 December 2021 for details of these calculations.
2.4 | Dividends (distributions) | Amount per | Franking % | Conduit foreign |
security | income per | |||
(cents) | security | |||
2022 Interim | 15.0 | 100.0 | Nil |
2.5 Record date for determining entitlements to the dividend 4 March 2022
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For personal use only
PACIFIC CURRENT GROUP LIMITED
(ABN 39 006 708 792)
ASX LISTING RULES - APPENDIX 4D
HALF YEAR REPORT FOR THE HALF YEAR ENDED 31 DECEMBER 2021
2.6 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 Condensed Interim Financial Report for the half year ended 31 December 2021.
3. | Net tangible assets per security | 31 December | 30 June |
2021 | 2021 | ||
Net tangible assets per security | $9.27 | $6.89 |
4. 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 |
‐ | ‐ |
During the period, control was lost over the following entities: | |
Name of entity | Date control lost |
‐ | ‐ |
5. Details of individual and total dividends or distributions and dividend or distribution payments.
Franked amount | Conduit foreign | |||
Amount per | per security | income per | ||
Type | Payment date | Security (cents) | (%) | security |
2021 Final | 7 October 2021 | 26.0 | 100.0 | Nil |
6. 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 interim dividend. The last election date for the DRP will be 7 March 2022.
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For personal use only
PACIFIC CURRENT GROUP LIMITED
(ABN 39 006 708 792)
ASX LISTING RULES - APPENDIX 4D
HALF YEAR REPORT FOR THE HALF YEAR ENDED 31 DECEMBER 2021
7. | Details of associates and joint venture entities | Ownership % | |
31 December | 30 June | ||
2021 | 2021 | ||
Aether General Partners | 25.00 | 25.00 | |
ASOP Profit Share LP | 39.03 | 39.31 | |
Astarte Capital Partners, LLP | 44.46 | 44.90 | |
Banner Oak Capital Partners, LP 1 | 35.00 | ‐ | |
Blackcrane Capital, LLC | 25.00 | 25.00 | |
Capital & Asset Management Group, LLP ² | 38.75 | 36.25 | |
Independent Financial Planners 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, L.P. | 24.90 | 24.90 | |
Copper Funding, LLC | 50.00 | 50.00 | |
Pennybacker Capital Management, LLC | 16.50 | 16.50 | |
31 December | 31 December | ||
2021 | 2020 | ||
$'000 | $'000 | ||
PAC share of profits of associates/joint venture 3 | 7,419 | 1,916 |
Notes:
1 - Acquired on 31 December 2021.
- - Capital & Asset Management Group, LLP made capital drawdowns during the period resulting to an increased interest
from 36.25% to 38.75%.
3 - Further information on the contribution of these entities to the financial performance and financial position of the entity is contained in the attached Condensed Interim Financial Report for the Half Year ended 31 December 2021.
- For foreign entities, which set of accounting standards is used in compiling the report Not applicable
-
Audit / Review of Accounts upon which this report is based and qualification of audit / review
This Half Year Report is based on the attached Condensed Interim Financial Report for the half year ended 31 December 2021, which includes the Independent Auditor's Review Report. The Condensed Interim Financial Report for the half year ended 31 December 2021 is not subject to a modified opinion, emphasis of matter or other matter paragraph.
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For personal use only
Pacific Current Group Limited
(ABN 39 006 708 792)
Condensed Interim Financial Report
For the half‐year ended 31 December 2021
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Pacific Current Group Ltd. published this content on 24 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 February 2022 23:25:57 UTC.
