Regal Partners Global Investments (RG!) AGM 2024 summary

Opening remarks and agenda

• Meeting opened with acknowledgment of traditional owners and confirmation of quorum.

• Hybrid format enabled participation in person, online, and by phone, with clear instructions for voting and questions.

• Agenda included formal business, resolutions, and ample time for shareholder questions.

Financial performance review

• Net profit after tax for FY24 was AUD 64.1 million, with earnings per share of AUD 0.202.

• Portfolio delivered a net return of 17.8% and total shareholder return of 29.5% including franking.

• Key performance drivers included AI semiconductor, energy, and defense stocks.

• Share price discount to NTA narrowed, benefiting shareholders.

• On-market buyback acquired 52 million shares for AUD 91 million in FY24, with further 24 million shares bought post-June.

Dividend announcements

• Two fully franked dividends of AUD 0.05 per share paid in FY24, with another AUD 0.05 per share paid in September 2024.

• Annualized dividend rate of AUD 0.10 per share, net yield 5.2%, grossed-up yield 7.4%.

• Profit reserve at 30 June 2024 was AUD 274 million, adjusted to over AUD 260 million after latest dividend.

• Reserve covers nearly 10 years of dividends at current rate.