Rangatira

[Sideshow Bob]

I see they own 50% of Mrs Higgins .... that's good

What does Mr Higgins think about that??

[Southern Lad]

BusinessDesk and Stuff are reporting that Partners Life has been sold for $980m to Dai-ichi. Sale costs quoted as being $30m, so $950m net.

https://businessdesk.co.nz/article/f...chi-in-1b-deal

https://www.stuff.co.nz/business/ind...panese-insurer

According to the Companies Office Rangatira own 4.93% of Partners Life, so presumably a good pay day coming. I note an upward revaluation of the Partners Life investment was included in the June valuation update, so presumably most of the gain already reflected.

Coupled with the current capital raise of $35 to $50m, Rangatira will have a great war chest to chase some new investments.

[Sideshow Bob]

Half Year & Dividend

https://www.usx.co.nz/uploads/paperc...pdf?1670360196

https://www.usx.co.nz/uploads/paperc...pdf?1670360662

[Sideshow Bob]

Annual report

https://www.usx.co.nz/uploads/paperc...pdf?1688071050

[nztx]

What does Mr Higgins think about that??

If inflationary pressures continue to mount, when he finds out he might want to sell out his half

How would Rangi and Tira feel about prospect of owning all of Mrs Higgins ?

[Sideshow Bob]

Mr Higgins ain't going to be pleased.....

https://www.usx.co.nz/uploads/paperc...pdf?1690844557

[Sideshow Bob]

https://prod-trade.usx.co.nz/api/fil...672eb5d76d.pdf

Interesting investment - don't think they have anything in this industry already??

[Sideshow Bob]

Annual Result

https://prod-trade.usx.co.nz/api/fil...82a73b532e.pdf

Rangatira Investments announces a Total ShareholderReturn of 10.4% for the year, lifting the Net Asset Value to$19.19 per share.

Rangatira announced its result for the year ending 31 March 2024 with a Total ShareholderReturn (TSR) of 10.4% (15.0%, FY23).

This result exceeded Rangatira's benchmark return of9.9% and the NZX50 index of 1.9%.This result takes Rangatira’s three-year return to 12.9% pa and its five-year return to 10.6% pa.

The Directors’ Net Asset Value (NAV) per share as of 31 March 2024 is $19.19 compared with$18.05 last year and were trading at $14.75 per share on 31 March 2024.The portfolio valuation is now $402 million ($378m, FY23).

The increase in NAV was generatedfrom operating earnings and the revaluation of investments of $39.4m, offset by dividendpayments of $15.5m.
The revaluation of investments resulted from the gains realised on the sale of our Bio-Strategyand Mrs Higgins stakes, the continued performance of Magritek, an increased independentvaluation of BeGroup properties and the rebound in the performance of Rainbow’s End andPolynesian Spa.

Total Comprehensive Earnings for the fiscal year ending 31 March 2024 is $21.7m, down onthe $29.9m recorded last year, which included significant gains from the sale of the Hellersbuilding and our Partners Life stake.

A final dividend for the year of 48 cents per share has been declared, which will go ex-dividendon 20 June 2024, and be paid on 8 July 2024. The total dividend for FY24 will be 76 cents pershare, compared to 72 cents per share in FY23. This dividend will be 50% imputed.