L1 Global Long Short Fund Limited Registered · ASX:GLS
L1 Global Long Short Fund Limited Registered — Platinum Capital — Shareholder Meeting (November 2020)
12 slides from L1 Global Long Short Fund Limited Registered's shareholder meeting presentation, Nov 5, 2020
Slide 1: Annual General Meeting
For personal use only Annual General Meeting 5 November 2020 Platinum Capital Limited ABN 51 063 975 431
Slide 2: Statutory accounts
Statutory accounts For the financial year ended 30 June 2020, the Company made a statutory pre-tax For personal use only operating loss of $15.3m and a post-tax operating loss of $10.1m. 2 Source: Platinum Investment Management Limited (“Platinum”)
Slide 3: Investment performance
Investment performance as at 30 June 2020 For personal use only Platinum Capital Limited’s overall investment return (using pre-tax NTA) for the 2020 financial year was negative 3.5% versus the MSCI AC World Net Index which returned 4.08%. This return occurred against a challenging backdrop acro
Slide 4: Investment performance
Investment performance as at 30 June 2020 For personal use only MSCI All Country Pre-Tax NTA Period World Net Index Return * ($A) Return 1 year (compound pa) (3.50)% 4.08% 3 years (compound pa) 3.72% 10.03% 5 years (compound pa) 4.38% 8.82% 7 years (compound pa) 7.96% 12.29% Since inception (compoun
Slide 5: Dividends
Dividends The Company declared a fully-franked 2020 interim and final dividend each of 3 cents per For personal use only share, bringing the total dividends declared for the 2020 financial year to 6 cents per share. The dividend yield for the year was 4.8% based on the 30 June 2020 closing share
Slide 6: Capital management
Capital management The Board has been actively monitoring the share price discount. For personal use only On 8 April 2020 the Company announced an on-market share buy-back for up to 10 per cent of the Company’s issued share capital to be implemented over a period of up to 12 months. No shares
Slide 7: Investment outlook
Investment outlook At 31 October 2020, the most recent weekly pre-tax NTA released to the market was For personal use only $1.42. The investment manager has recently noted: “We have talked ad nauseum about the dispersion in markets – indeed we have described “two stock markets” – the mania in mu
Slide 8: Business of the Meeting
Business of the Meeting 1. Re-election of Margaret Towers as a Director For personal use only 2. Adoption of the Remuneration Report 8
Slide 9: Proxy results: Re-election of Margaret Towers
Proxy results 1. Re-election of Margaret Towers as a Director For personal use only OPEN-USABLE OPEN-USABLE FOR AGAINST CHAIR NON-CHAIR 32,854,835 1,281,341 1,809,531 1,049,654 88.81% 3.46% 4.89% 2.84% 9
Slide 10: Proxy results: Adoption of the Remuneration Report
Proxy results 2. Adoption of the Remuneration Report For personal use only OPEN-USABLE OPEN-USABLE FOR AGAINST CHAIR NON-CHAIR 30,859,291 3,487,712 1,614,116 976,324 83.54% 9.44% 4.37% 2.64% 10
Slide 11: Platinum Capital Limited
Platinum Capital Limited Investment manager’s report For personal use only Close of meeting 11
Slide 12: Disclaimer
Disclaimer The information contained herein has been prepared by Platinum Investment Management Limited ABN 25 063 565 006, AFSL 221935 ("Platinum"), on behalf of the Platinum Capital Limited (the ”Company”). The information is general information only and should not be construed as a recommendation
Platinum Capital — Shareholder Meeting (November 2020) on 6ix