FUTURE GENERATION AUSTRALIA LIMITED This report is based on the financial report which has been audited.
All the documents comprise the information required by Listing Rule 4.3A
Investing in Australia's future generation. ABN: 97 063 935 553Future Generation Investment Company Limited
The principal activity of the Company is to invest in funds managed by a number of prominent Australian equity fund managers while also contributing to Australian children and youth at risk charities.
Chairman Jonathan Trollip Directors Geoff Wilson David Leeton David Paradice Gabriel Radzyminski Kate Thorley Scott Malcolm Company Secretary Mark Licciardo Investment Committee Geoff Wilson (Chairman) Bruce Tomlinson David Smythe Gabriel Radzyminski Matthew Kidman Chief Executive Officer Louise Walsh | Auditor Pitcher Partners Country of Incorporation Australia Registered Office Level 11, 139 Macquarie Street Sydney NSW 2000 Contact Details Postal Address: GPO Box 4658 Sydney NSW 2001 T: (02) 9247 9202 E: info@futuregeninvest.com.au W: www.futuregeninvest.com.au Australian Securities Exchange Future Generation Investment Company Ordinary Shares (FGX) | Share Registrar Boardroom Pty Limited Level 12, 225 George Street Sydney NSW 2000 Telephone: (02) 9290 9600 Fax: (02) 9279 0664 For enquiries relating to shareholdings, dividends (including participation in the dividend reinvestment plan and dividend donation plan) and related matters, please contact the share registrar. |
Key Highlights Transitional Six Month Period to 31 December 2016 | ||
ACCRUED DONATION TO CHARITIES (For the 6 month transitional period) $1.85 million | FINAL FULLY FRANKED DIVIDEND 2.1 cps | |
GROSS ASSETS $400.0 million | % OPTIONS EXERCISED (Expired 16 September 2016) 89.9% | |
Snapshot as at 31 December 2016 | |
ASX code | FGX |
Listing date | Sept 2014 |
Market capitalisation | $407.9m |
Share price | $1.17 |
Shares on issue | 348,655,173 |
Net Tangible Assets (pre tax) | $1.14 |
Net Tangible Assets (post tax) | $1.14 |
Gross assets | $400.0m |
Final fully franked dividend | 2.1 cents |
changed the financial year end from 30 June to 31
December to better align the reporting periods to the underlying fund manager distributions. This report covers a transitional six month period from 1 July 2016 to 31 December 2016. Annual reports thereafter will be prepared for a 12 month period from 1 January to 31 December each subsequent year.
FGX reported an operating profit before tax of $2.74 million for the transitional period for the six months to 31 December 2016 (1 July 2015 to 30 June 2016:
$17.75 million) and an operating profit after tax of
$2.01 million (1 July 2015 to 30 June 2016: $14.62 million). By legislation FGX is required to provide comparative financial data but this is for the previous full 12 month reporting period from 1 July 2015 to 30 June 2016. It is also important to note that the majority of distribution income is received from the
underlying fund managers in June each year. The profit for the transitional period is not indicative of the expected performance over the next 12 month period.
For the six months to 31 December 2016 the investment portfolio increased 4.9%. During the period the S&P/ASX All Ordinaries Accumulation Index increased 9.9%, the S&P/ASX Small Ordinaries Accumulation Index grew 5.7% and the UBS Bank Bill Index rose 0.9%. FGX continued to outperform the benchmark in all negative months during the transitional period and in 92% of down months since inception in September 2014. During the period, the $133 million raised through the exercise of FGX options increased the investment portfolio‟s cash levels relative to its historical holdings.
The Board declared a fully franked final dividend for 2016 of 2.1 cents per share. For the full year ending 31 December 2016, 4.1 cents per share fully franked dividends have been declared.
Contents
Chairman and Chief Executive Officer‟s Letter | 1 |
Investment Committee Report | 3 |
Charity Report | 5 |
Directors‟ Report to Shareholders | 12 |
Auditor‟s Independence Declaration | 22 |
Statement of Comprehensive Income | 23 |
Statement of Financial Position | 24 |
Statement of Changes in Equity | 25 |
Statement of Cash Flows | 26 |
Notes to the Financial Statements | 27 |
Directors‟ Declaration | 49 |
Independent Auditor‟s Report | 50 |
Corporate Governance Statement | 55 |
ASX Additional Information | 66 |
Future Generation Investment Company Ltd. published this content on 11 April 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 11 April 2017 07:50:23 UTC.
Original documenthttp://www.futuregeninvest.com.au/170411-FGX-Transitional_Six_Month_Report.pdf
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