Westoz Resources Fund Limited is an unlisted investment company which commenced its investment activities in December 2022 following the issue of 25 million shares at $1.00 per share. Westoz Funds Management Pty Ltd has been appointed to manage the assets of the company.
* Net Tangible Assets (NTA) per Share After Tax is calculated using month end market prices and makes provision for all fees and taxes payable. The Before Tax number removes tax provisions. A fully franked dividend of 3.5 cents per share was paid in August 2023.
| As at | Net Asset Per Share Before Tax* | Net Asset Per Share After Tax* |
|---|---|---|
| March 2024 | $0.718 | $0.812 |
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- The Company’s investment objective is to generate a positive return on its investment portfolio over the medium to long-term, regardless of the movements of the broader share market, from an actively managed portfolio of ASX listed and unlisted securities, generally with a connection to the resources sector;
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- The Company intends to pay a consistent stream of dividends from the profit, dividend and interest income it receives from the investment of its assets to the extent permitted by law and prudent business practice. A maiden 3.5 cent fully franked dividend was paid in August 2023;
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- Investors acquire unlisted ordinary shares in the company. A resolution will be put to shareholders in the 2028 calendar year to consider an ASX listing, voluntary windup or alternate proposal for liquidity;
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- The Manager will receive a monthly management fee of 1% of the value of the Portfolio per annum. Where the value of the Portfolio has increased over a 12-month period to 30 June by more than 7% (before fees and taxes), the Manager will be entitled to a performance fee. The amount payable under the performance fee will be 20% of the increase in value of the Portfolio in excess of 7% (before fees and taxes).
The Company has an Information Memorandum available for suitably qualified parties considering an investment. Investors should read and consider that document in its entirety.
The product is only available to sophisticated or professional investors in accordance with Chapter 6D of the Corporations Act 2001 (Cth) or those otherwise who satisfy Section 708 of the Corporations Act.
If you qualify as such an investor and wish to receive a copy of the Information Memorandum, please contact Russell Kane (0417 986 461).
Westoz Resources Fund Limited will release various reports from time to time. Access to these reports is via the links below: