Monday, 11 July 2022
Rangatira Investments Net Asset Value assessed at $16.41 per share
Rangatira is pleased to report a total shareholder return of 3.4% for the first quarter to 30 June 2022, inclusive of dividends. This compares to the NZX50 which was down 10.3% over the same period.
The Board has elected to provide an updated Net Asset Value at 30 June 2022 in advance of the capital raise process as approved by Rangatira shareholders on Thursday, 7 July to be launched on 11 July.
The Net Asset Value (NAV) per share as of 30 June 2022 is assessed at $16.41 compared with $16.27 at 31 March 2022, taking the portfolio valuation to $291 million. This is up from $288 million at 31 March 2022, and after the final dividend of $7.3 million or $0.41c per share.
The most significant changes in the portfolio since March are the completion of the sale of the Hellers factory at a price above the previous valuation, an increase in the assessed value of Rainbow’s End after a strong start to the financial year, an increase in the assessed value of Partners Life offset by a fall in value of the listed equity portfolio.
Rangatira will provide an update on the pending capital raise separately.