KFL undiluted ex-div NAV as at 11/3/20 – $1.5190

KFL undiluted NAV as at 11/3/20 - $1.5190 (after deducting 3.24cps dividend payable)
Date11/3/20204/3/2020
KFL undiluted NAV$1.5190$1.6255
Share price close$1.63 $1.65
(Premium)(7%)(2%)
The five largest portfolio holdings at 11 March 2020 are approximately as follows:
The a2 Milk Company16%
Fisher & Paykel Healthcare15%
Mainfreight14%
Infratil11%
Ryman Healthcare7%
BACKGROUND
Contact
Corporate Manager
Kingfish Limited
Tel +64 9 4840352
KingfishisalistedinvestmentcompanythatinvestsingrowingNewZealandcompanies.TheKingfishportfoliois
managedbyFisherFunds,aspecialistinvestmentmanagerwithatrackrecordofsuccessfullyinvestingingrowth
companyshares.TheaimofKingfishistoofferinvestorscompetitivereturnsthroughcapitalgrowthanddividends,
andaccesstoadiversifiedportfolioofinvestmentsthroughasingletax-efficientinvestmentvehicle.Kingfishlistedon
NZXMainBoardon31March2004andmayinvestincompaniesthatarelistedonaNewZealandstockexchangeor
unlisted companies.
The above net asset value (NAV) is unaudited and net of fees and tax.
The NAV per share is after deducting an accrual for a 3.24 cents per share dividend to be paid on 27 March 2020.
The NAV per share is also calculated after deducting treasury stock (shares acquired under the Kingfish buyback
programme) - currently nil. A performance fee payable to the Manager is currently being accrued in the NAV
calculation.
* The undiluted NAV excludes any impact on the NAV of the future exercise of warrants (KFLWF). At 11 March 2020,
61,578,083 warrants are on issue and may be exercised on 12 March 2021. The actual exercise price of each warrant
is $1.64 less the dividends per share declared by the company between 9 March 2020 and the announcement of the
12 March 2021 exercise price. Dividends totalling 3.24 cents per share have been declared to date and three more
dividends are expected to be declared in the remaining period to12 March 2021.
Kingfish Limited
Phone +64 9 489 7094
Fax +64 9 489 7139
Private Bag 93502
Takapuna, Auckland