L1 Global Long Short Fund Limited Registered · ASX:GLS
L1 Global Long Short Fund Limited Registered — Platinum Capital — Shareholder Meeting (October 2023)
12 slides from L1 Global Long Short Fund Limited Registered's shareholder meeting presentation, Oct 26, 2023
Slide 1: Platinum Capital Limited 2023 AGM Chair's Address and Presentation Slides
26 October 2023 The Manager ASX Market Announcements Australian Securities Exchange Limited Sydney NSW 2000 For personal use only Platinum Capital Limited (PMC) - 2023 Annual General Meeting Chair’s Address and Presentation Slides PMC will be holding its Annual General Meeting (AGM) at 10.00am (AEDT
Slide 2: Chair's address: Introduction
Platinum Capital Limited, 2023 Annual General Meeting – Chair’s address Introduction For personal use only Good morning Ladies and Gentlemen and welcome to today’s Annual General Meeting, whether you are joining us in-person or remotely. My name is Margaret Towers and I am pleased to address you as
Slide 3: Meeting procedures and introduction of Board members
• For Shareholders who wish to utilise the teleconference facility, you must use your unique phone PIN provided by Link Market Services. If you don’t have a phone PIN and would like to ask a question via the phone, please contact Link on +61 1800 990 363. When you dial in via the phone line, you wil
Slide 4: Financial summary and investment performance
Financial summary and investment performance For personal use only Firstly, turning to the financial results and investment performance for the financial year ended 30 June 2023. The Company made a statutory pre-tax operating profit of $54.1 million and a post-tax operating profit of $37.9 million f
Slide 5: Investment performance versus MSCI index
As previously stated, the Board maintains that the most appropriate measure of the Company’s investment performance is the percentage change in its pre-tax net tangible assets or “NTA”. On this measure, the Company delivered an investment return of 12.7% for the year ended 30 June 2023, after fees a
Slide 6: Investment philosophy and geographic positioning
- Price matters and is a key driver of returns; - Mispricing is more likely to be found away from the spotlight; - Prices are influenced by emotion in short and medium term which can lead to decision errors; and - Once lost, capital is hard to earn back so one should protect against the impact of la
Slide 7: Top holdings differentiated from the index
Platinum’s top 10 holdings are also highly differentiated from the top 10 constituents of the MSCI index, unlike other global equity managers. The slide behind me and on the screen shows that there is a very large overlap between what the most popular active Australian based global equity managers (
Slide 8: Dividends
Dividends For personal use only The Company determined to pay a 2023 fully-franked final dividend of 3 cents per share, bringing the total dividends paid for the 2023 financial year to 6 cents per share. This represents a grossed-up dividend yield of 6.8% based on the Company’s 30 June 2023 closing
Slide 9: Capital management
Capital management For personal use only On 27 April 2023, following on from the capital management initiatives announced to the market in October 2022, the Company issued eligible Shareholders with 1 bonus option for every 4 fully paid shares held as at the record date. Each bonus option has an exe
Slide 10: Performance for the 2023 financial year and market outlook
Performance for the 2023 financial year and market outlook For personal use only The Company delivered a negative 0.4% return for the calendar quarter ended 30 September 2023 in line with the index, and for the 12 months to 30 September 2023, delivered a return of 13.8% against the index return of 2
Slide 11: Resolutions: Re-election of director and Remuneration Report
Resolution 1 – Re-election of Margaret Towers as a Non-Executive Director For personal use only Resolution 2 – Adoption of the Remuneration Report 10
Slide 12: Disclaimer
For personal use only | 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 const
Platinum Capital — Shareholder Meeting (October 2023) on 6ix