Regal Partners Global Investments (RG1) AGM 2024 summary

Opening remarks and agenda

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

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

• Agenda included introductory address, resolutions, Q&A, and voting, with a focus on key items from the notice of meeting.

Financial performance review

• FY24 net profit after tax 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.

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

• Profit reserve stood at over AUD 260 million post-September dividend, covering nearly 10 years of dividends at current rates.

• On-market buyback acquired 52 million shares in FY24 and 24 million more since June, totaling 35% of issued capital since 2020.

Dividend announcements

• Maintained policy of at least AUD 0.05 per share every six months, with a grossed-up yield of 7.4%.

• Profit reserve enables smoothing of dividends over time.

• Discussion addressed concerns about franking credit deficit and ability to maintain fully franked dividends.