Benjamin Hornigold : Appendix 4D and Interim Report December 2021

Benjamin Hornigold Ltd

Appendix 4D

Half-year report

1. Company details

For personal use only

Name of entity:	Benjamin Hornigold Ltd
ABN:	62 614 854 045
Reporting period:	Half-year ended 31 December 2021
Previous period:	Half-year ended 31 December 2020
2. Results for announcement to the market
					$
Revenue from ordinary activities	decreased	23%	to	819,783
Gain from ordinary activities after tax attributable to the owners
of Benjamin Hornigold Ltd		decreased	55%	to	278,143
Gain for the half-year attributable to the owners of
Benjamin Hornigold Ltd		decreased	55%	to	278,143
			31 Dec	31 Dec
			2021	2020
			Cents	Cents
Basic earnings per share			1.15	2.58
Diluted earnings per share			1.15	2.58

Comments

The gain for the Company after providing for income tax amounted to $278,143 (December 2020: $622,135).

During the period the Company acquired $4,752,027 (December 2020: $7,228,767) of investments and sold

$4,745,847 (December 2020: $3,539,591), the realised gains amounted to $382,667 (December 2020:

$129,780), dividends $123,703 (December 2020: $155,392), unrealised losses $28,952 (December 2020: gains $468,808).

3. Net tangible assets
	31 Dec	31 Dec
	2021	2020
	Cents	Cents
Net tangible assets per ordinary security	37	33

4. Control gained over entities

Not applicable.

Benjamin Hornigold Ltd

Appendix 4D

Half-year report

5. Loss of control over entities

For personal use only

Not applicable.

6. Dividends

There were no dividends paid, recommended or declared during the current financial period or prior financial period.

7. Details of associates and joint venture entities

Not applicable.

8. Foreign entities

Details of origin of accounting standards used in compiling the report:

Not applicable.

9. Audit qualification or review

Details of audit/review dispute or qualification (if any):

The financial statements were subject to a review by the auditors and the review report is attached as part of the Interim Report.

10. Attachments

Details of attachments (if any):

The Interim Report of Benjamin Hornigold Ltd for the half-year ended 31 December 2021 is attached.

11. Signed

By authority of the Board

Signed ___________________________

Date: 25 February 2022

For personal use only

ACN 614 854 045

INTERIM REPORT 31 DECEMBER 2021

"veritas et aequitas"

Benjamin Hornigold Ltd

Directors' report

31 December 2021

For personal use only

Introduction

The Directors present their report, together with the financial statements, of Benjamin Hornigold Ltd (referred to hereafter as the 'Company') for the half-year ended 31 December 2021.

Directors

The following persons were Directors of Benjamin Hornigold Ltd during the whole of the financial half-year and up to the date of this report, unless otherwise stated:

Directors' name	Position	Date appointed
Michael Glennon	Non-Executive Director and Chairman	12 Jun 2019
Gary Miller	Non-executive Director	12 Jun 2019
Sulieman Ravell	Non-executive Director	12 Jun 2019

Principal activities

The Company is a Listed Investment Company (LIC) incorporated on 28 September 2016. The Company provides investors with the opportunity to gain exposure to an investment portfolio that is actively managed. The investment portfolio is invested in a small number of high conviction investments in undervalued assets, that provide growth opportunities with the aim of achieving above average returns, (whilst limiting volatility) over the medium to long term. Further details on these investments are included in the Review of Operations.

Review of operations

The gain for the Company after providing for income tax amounted to $278,143 (31 December 2020: $622,135).

During the period the Company acquired $4,752,027 (June 2021: $11,214,901) of investments and sold

investments for proceeds of $4,363,179 (June 2021: $5,486,406) and generating revenue from its investment

portfolio of $519,792 (December 2020: $616,355), being:

• realised gains amounted to $382,667 (December 2020: $129,780),
• dividends $140,784 (December 2020: $155,393),
• other revenue $176,804 (December 2020: $nil),
• unrealised losses ($28,952) (December 2020: gains $468,808) on investments, and
• unrealised losses ($151,511) (December 2020: ($137,626)) on convertible loan investments.

Significant changes in the state of affairs

The Board does not believe the COVID-19 pandemic will have any impact on the Company's ability to continue as a going concern nor in its current ability to work in Australia to continue pursuing new ventures.

Apart from the matters discussed in this Report, there were no other significant changes in the state of affairs of the Company during the financial half-year.

Matters subsequent to the end of the financial half-year

There have been no matters or circumstances arisen since 31 December 2021 that have significantly affected, or may significantly affect the Company's operations, the results of those operations, or the Company's state of affairs in future financial years.

Auditor's independence declaration

A copy of the auditor's independence declaration as required under section 307C of the Corporations Act 2001 is set out immediately after this Directors' report.

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Benjamin Hornigold Ltd

Directors' report

31 December 2021

For personal use only

This report is made in accordance with a resolution of Directors, pursuant to section 306(3)(a) of the Corporations Act 2001.

On behalf of the Directors

__________________________

Michael Glennon Chairman

25 February 2022

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