PENGANA INTERNATIONAL EQUITIES LIMITED For personal use only
Appendix 4D - Half-year Report
for the half-year ended 31 December 2021 Results announcement to the market:
31 December | 31 December | Change from | |
2021 | 2020 | the | |
corresponding | |||
period | |||
$'000 | $'000 | % | |
Income from ordinary activities | 25,583 | 45,340 | (44)% |
Profit from ordinary activities after tax attributable to members | 19,135 | 28,865 | (34)% |
Basic and diluted earnings per share (cents per share) | 7.50 | 11.35 | (34)% |
Dividend Information | Cents per | Franked | Tax rate for |
share | amount | franking | |
per share | |||
2022 First interim dividend (paid 15 December 2021) | 1.35 Cents | 1.35 Cents | 30.0% |
2022 Second interim dividend (to be paid 15 March 2022) | 1.35 Cents | 1.35 Cents | 30.0% |
Second Interim Dividend Dates | |||
Ex-dividend Date | 28 February 2022 | ||
Record Date | 1 March 2022 | ||
Last date for DRP | 2 March 2022 | ||
Payment Date | 15 March 2022 |
Dividend Reinvestment Plan
The Dividend Reinvestment Plan (DRP) is active and available to shareholders for the second interim dividend of 1.35 cents per share, which is franked at 30.0% (2021: 30%). Participating shareholders will be entitled to be allotted the number of shares which the cash dividend would purchase at the relevant price. The relevant price will be the weighted average sale price of all shares in the Company sold on the Australian Securities Exchange during the five trading days commencing on and including the Record Date, with no discount applied.
Net Tangible Assets Per Share | 31 December | 31 December |
2021i | 2020 | |
Net Tangible Assets (before provision for tax on unrealised gains) per share | $1.52 | $1.37 |
Net Tangible Assets (after provision for tax on unrealised gains) per share | $1.47 | $1.32 |
- After payment of the first quarterly fully franked interim dividend of 1.35 cents per share paid 15 December 2021 (2020:1.25 cents per share paid 22 January 2021).
This report is based on the Half-year Financial Report which has been subject to independent review by the Auditor, Ernst &Young. All the documents comprise the information required by the Listing Rule 4. 2A
The Interim Report of Pengana International Equities Limited for the half-year ended 31 December 2021 is attached. This information should be read in conjunction with the 30 June 2021 Annual Report.
PENGANA INTERNATIONAL EQUITIES LIMITED I ABN 107 462 966 I Levels 1, 2 & 3, 60 Martin Place, Sydney I T: +61 2 8524 9900 I
E: clientservice@pengana.com
For personal use only
Interim
Financial Report
For the half-year ended 31 December 2021
PENGANA INTERNATIONAL EQUITIES LIMITED (ASX: PIA)
PENGANA INTERNATIONAL EQUITIES LIMITED
ACN 107 462 966
Level 1, 2 & 3, 60 Martin Place
Sydney NSW 2000
Ph: | +61 2 8524 9900 |
Fax: | +61 2 8524 9901 |
PENGANA.COM/PIA
COMPANY PROFILE
Pengana International Equities Limited is an Australian Listed Investment Company whose operating activity involves investing its Australian capital into businesses that are listed on global security exchanges.
onlyThe Company is listed on the Australian Securities Exchange ("ASX") under the code PIA.
PIA's investment manager is Pengana Investment Management Limited ("PIML"), a wholly owned subsidiary of Pengana Capital Group (PCG). PCG also provides financial management and marketing support.
PCG, in consultation with the PIA board, appointed New Jersey-based Harding Loevner LP ("Harding
L evner") as the new investment team for PIA. Harding Loevner is a New Jersey-based global equity fund manager formed in 1989 with over US$84billion in Assets under Management. PCG's partnership with
Harding Loevner provides Australian retail investors exclusive access to Harding Loevner's extensive global usexpertise, usually only accessible to institutional investors.
Corporate objective
PIA's objective is to provide shareholders with capital growth from investing in an ethically screened and actively managed portfolio of global businesses in addition to providing shareholders with regular, reliable and fully franked dividends.
personalInvestment strategy
The investment strategy utilised by PIA was devised by experienced investment professionals over many years.
The strategy seeks superior risk-adjusted returns, generated through investing in companies that meet the investment team's high quality and durable growth criteria at reasonable prices.
These companies are identified through the conduct of fundamental research, with a long-term, global perspective, and must exhibit the following four key investment criteria: competitive advantages, quality management, financial strength, and sustainable growth potential.
Responsible Investment
The Company is committed to responsible investing and seeks to avoid investing in businesses that are, in its opinion, currently involved in activities that are unnecessarily harmful to people, animals or the environment.
The Company invests in businesses selected through Harding Loevner's Responsible Investment process
that pass PCG's ethical screens.
ForEthical Screens
PCG utilises a screening process which seeks to avoid investment in companies that derive significant operating revenues from direct and material business involvement in these sectors:
Adult content | Gambling | Mining |
Alcohol | Genetically modified organisms | Nuclear |
Animal cruelty (production of | Human rights abuses and | Securities from issuers on UN |
cosmetics tested on animals) | exploitation | sanctions list |
Fossil fuels | Old growth forest | Tobacco |
(coal, coal seam gas, oil) | logging | Weapons |
Responsible Investment Process - Incorporation of Environmental, Social and Governance (ESG)
Factors
Harding Loevner's investment selection approach, by its design, eschews companies engaging in unsustainable business practices or pursuing short-term profits at the expense of long-term growth and stability. Harding Loevner believes only companies that can create substantial long-term value are capable
onlyHarding Loevner includes an explicit consideration of ESG risk factors into equity security evaluation.
of producing meaningful "shared value" for the benefit of larger society as well as for shareholders and other direct stakeholders.
C mpetitive advantage, sustainable growth, financial strength, and quality management are the criteria by which Harding Loevner judges whether a company can sustain high returns on capital. ESG factors are among those that may pose risks to a company's ability to continue to meet one or more of these criteria. Such risks are therefore considered at each stage of Harding Loevner's investment process.
R sponsible Ownership
Harding Loevner is an active owner and has clear engagement policies in place with the aim of protecting | |||
and furthering the financial interests of its clients, the asset owners. | |||
Harding Loevner votes all proxies with its clients' best interest in mind. As active owners, Harding Loevner | |||
use | |||
seek to use its voting power to promote high standards of corporate governance, including provision of | |||
adequate disclosure of company policies, activities, and returns, as well as fair and equitable treatment of | |||
shareholders. | |||
Benefits of investing in PIA | |||
Skilled investment team | Focus on risk and return | ||
A truly active strategy | Responsible investment process | ||
Investment in high quality businesses at compelling | Investment approach that is suitable across differing | ||
valuations | market environments | ||
personal | |||
Benefits of investing in PIA's LIC structure
Shares can be bought and sold on the ASX
Quarterly fully franked dividends
Investment activities are not affected by redemptions or unexpected cash inflows or outflows ForRegular reporting to shareholders e.g. semi-annual financial reports and weekly NTA
Shareholders can interact with directors and management The company is subject to ASX and ASIC supervision
For personal use only
TABLE OF CONTENTS
CHAIRMAN'S LETTER RESPONSIBLE INVESTMENT DIRECTORS' REPORT
AUDITOR'S INDEPENDENCE DECLARATION STATEMENT OF PROFIT OR LOSS AND OTHER INCOME STATEMENT OF FINANCIAL POSITION
STATEMENT OF CHANGES IN EQUITY STATEMENT OF CASH FLOWS
NOTES TO THE FINANCIAL STATEMENTS DIRECTORS' DECLARATION INDEPENDENT AUDITOR'S REPORT CORPORATE DIRECTORY
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The half-year financial report does not include all the notes of the type normally included in an annual financial report. Accordingly, the report is to be read in conjunction with the annual report for the year ended 30 June 2021 and any public announcements made by Pengana International Equities Limited during the interim reporting period in accordance with the continuous disclosure requirements of the Corporations Act 2001.
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Pengana International Equities Limited published this content on 16 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 February 2022 22:05:55 UTC.
