On 4 January 2019, Evans & Partners Global Flagship Fund (ASX: EGF) provided an ongoing buy back update in which the company reported that it has repurchased a total of 460,110 shares for a total consideration of $684,856.06. The highest price paid by the company was $1.52 per share (on 28 November 2018) and the lowest price paid was $1.42 (on 31 December 2018).
Today (i.e., 4 January 2018), the fund announced its daily share buyback update for yesterday (i.e., 3 January 2019), the details for which are as follows:
- Yesterday the company bought back 9,805 shares for a total consideration of $13,823.64.
- The highest price paid yesterday was $1.41 per share and the lowest price paid was also $1.41 per share.
- The maximum number of shares which are still pending for the Buyback from the market is 29,756,805.
Walsh & Company Investments Limited which acts as a responsible entity of EGF recently announced a distribution of 3 cents per Ordinary Unit for the period ending 31 December 2018. The distribution is having a record date of 31 December 2018, Ex-Distribution Date of 28 December 2018 and Final Date for electing DRP of 7 January 2019.
In order to make sure that unitholders receive distributions in the safest, secure and most efficient way possible, EGF has elected to pay all future distributions by direct credit into each unitholder’s nominated financial institution account.
At the close of 14 December 2018, the unaudited estimate of the Net Tangible Assets (NTA) per unit of EGF was $1.51.
In FY 2018 the Fund reported a Net operating profit of $18,719,359 which is 6.6 percent higher than FY 2017. The basic and diluted earnings per share of the fund was 19.68 percent in FY 2018.
At the close of the financial year 2018, the fund successfully completed the necessary steps to restructure the Fund for the improvement of its investment efficiency and to reduce operating costs. The Fund’s portfolio was constructed gain benefits from global trends, like industrial automation, the rapid technological evolution, shift in online consumption, rising consumerism in emerging markets, and increased demand for health care. Several companies in the fund’s portfolio are leaders in their respective markets with a global reach.
Meanwhile, in the last six months, the unit price of fund decreased by 3.42 percent as on 3 January 2019. EGF’s shares traded at $1.410 with a market capitalization of circa $175.45 million as on 4 January 2019 (AEST 4:00 PM).
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