All The Recent Updates That Investors Need To Know About Henry Morgan

  • Apr 15, 2019 AEST
  • Team Kalkine
All The Recent Updates That Investors Need To Know About Henry Morgan

An investment company, Henry Morgan Limited (ASX: HML) on 15th April 2019, notified the market that trading in JBL (investment manager of HML) securities remains suspended.

Earlier, the company announced on 11th April 2019, and John Bridgeman Limited (NSX: JBL) also announced on 12th April 2019, that JBL’s securities had been suspended from trading. HML noted that the JBL was suspended from trading under listing rule 2.18. The suspension will remain while the NSX conducts enquiries into the JBL.

Further, the company updated the change in the interest of one of its directors, Ross Patane. On 11 April 2019, the director disposed 15,968 indirect ordinary shares.

HML also notified about the change of interests of its substantial holder, John Bridgeman Limited in accordance with section 671B of the Corporations Act 2001 from 12 April 2019. The interests of JBL before the notice included 14,781,026 fully paid ordinary shares with the voting power of 45.70%. The present notice with effect from 12 April 2019 reflects 14,905,076 fully paid ordinary shares with the voting power of 46.08%.

As per the company’s announcement dated 14th April 2019, HML set out the indicative estimate of the unadjusted net tangible assets (NTA) of the company’s investment portfolio as on 31st March 2019. The NTA before tax stood at $1.0267 and deferred tax asset on carrying forward realised losses standing at $0.1478. The deferred tax liability on unrealised income and gains stood at $0.1822 and NTA after tax was noted at $0.9923.

On 9th June 2017, the company announced the suspension of its securities from quotation at its request, pending the release of an announcement regarding the outcome of the interim stop order issued by the Australian Securities and Investments Commission in respect of the company’s prospectus for the issue of bonus options dated 2 June 2017. The suspension of both HML’s ordinary shares and listed options was requested, pending the release of further information and updates in due course. The suspension was expected to last until the lodgement of supplementary disclosure (if and as required) or upon ASIC revoking the Interim Order.

In its half-yearly report for the period ending on 31st December 2018, HML recorded revenues from ordinary activities at circa $3 million, which was a decrease of 180.9% from the previous corresponding period. The net cash from operating activities was recorded at $1.7 million on 31 December 2018, and the net cash used in investing activities was $2.3 million for the same period. The cash and cash equivalents at the end of the financial half-year stood at $1.4 million. The total assets of the company stood at $34 million on 31 December 2018. For the same period, the total liabilities were recorded at $1.6 million, and the net assets were recorded at around $32.6 million.

Due to the abovementioned reasons, the stock of the company last traded on 9th June 2017 at a price of A$1.990. Henry Morgan has approximately 30.65 million shares outstanding (as noted on 15 April 2019).


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