Perth, Western Australia (PRWEB) November 15, 2013
Bentley Capital Limited, led by Chairman Farooq Khan, is a strategic investment company listed on the Australian Securities Exchange, focused on investing capital and skills into emerging companies with strong capital growth potential.
NTA Backing as at 30 September 2013
Bentley Capital Limited gives notice that its unaudited after-tax Net Tangible Assets Backing as at 30 September 2013 was $0.263 per share.
Pre-Tax NTA Backing per share was $0.263 at 30 September 2013, compared to $0.264 at 31 August 2013. Post-Tax NTA Backing per share was $0.263 at 30 September 2013 compared to $0.264 at 31 August 2013.
As at 30 September 2013, Bentley’s ~$19.32 million NTA comprised $7.62 million invested in the FSP Equities Leaders Fund (FSP Fund); $6.35 million invested in ASX-listed securities; $4.17 million cash; $0.15 million invested in unlisted securities; and $1.03 million net other assets/(liabilities).
Notes from Chairman Farooq Khan:
1. Units invested in the FSP Equities Leaders Fund are valued at the audited unit price published by the investment manager, FSP Equities Management Limited, as at month end – the unit price reflects the net asset backing of the fund; there is no buy/sell spread price; there is no recognition of realisation costs as there are no exit fees charged on redemption of units.
2. The post-tax NTA Backing per share figure is reported net of provision for tax liabilities on realised and unrealised gains on investments, in accordance with the Company’s income tax accounting policy (refer note 1.6 (Summary of Accounting Policies – Income Tax) at page 31 of the Company’s 2013 Full Year Report released on ASX on 2 September 2013).
3. Bentley’s current accounting policy is to recognise deferred tax assets arising from its carried forward tax losses and its unrealised loss on investments only to the extent of offsetting any deferred tax liabilities arising from its unrealised gains on investments.
4. Bentley’s current accounting policy uses the first in-first out method of calculating gains or losses on sales of share investments.
About Chairman Farooq Khan
Farooq Khan was born in Perth, Western Australia.
He is a qualified lawyer having graduated from the University of Western Australia and is currently admitted to practice in the Supreme Court of Western Australia and the High Court of Australia. He holds a Bachelor of Jurisprudence and Bachelor of Laws (LLB) degree from the University of Western Australia.
After graduating Mr Khan practised as a corporate lawyer for a number of years. After leaving the law in the late 90’s, Mr Khan guided the establishment and growth of a number of public listed companies in Australia in the investment, mining and financial services sectors.
In particular he founded and concluded a number of successful Initial Public Offers in Australia in the technology and mining sectors.
He has extensive experience in the securities industry, capital markets and particularly in capital raisings, mergers and acquisitions and investments and in the executive management of publically traded companies.