14 Jan

NTA Backing as at 31 December 2021

www.orionequities.com.au Orion Equities Limited A.B.N. 77 000 742 843 Level 2, 31 Ventnor Avenue, West Perth, Western Australia 6005 ASX : OEQ T | (08) 9214 9797 F | (08) 9214 9701 E |info@orionequities.com.au Friday, 14 January 2022 ASX Code: OEQ MARKET ANNOUNCEMENT Net Tangible Asset Backing – 31 December 2021 Month Ending: % Change 31 December 2021 Consolidated 30 November 2021 Consolidated Net tangible assets ( NTA ) (before tax) $3.226m $2.903m Pre-Tax NTA Backing per share +11.15% $0.2062 $0.1855 Net tangible assets (after tax) $3.226m $2.903m Post-Tax NTA Backing per share +11.15% $0.2062 $0.1855 Based on total issued share capital 15,649,228 15,649,228 The NTA position comprises the following items: Current Month Previous Month Net Tangible Assets $’millions $’millions Investment in listed Associated Entity: (a) Shares in Bentley Capital Limited (ASX: BEL ) 0.889 0.659 Investments in other listed securities: (a) Shares in Strike Resources Limited (ASX: SRK ) 1.100 0.97 Investment in property (held for development/resale) 1.750 1.750 Net cash/receivables/payables/other assets/provisions (0.513) (0.476) Pre-Tax NTA 3.226 2.903 Tax Provisions: (a) Prior year tax - - (b) Current year tax - - (c) Net deferred tax asset / (liability) - - Post-Tax NTA 3.226 2.903 Orion has valued its 10 million shareholding in Strike Resources Limited (ASX:SRK) based on the $0.11 last bid price as at 31 December 2021 (30 November 2021: $0.097). Bentley notes that Strike’s last bid price was $0.145 (as at 14 January 2022). 20220114 OEQ ASX NTA Backing as at 31 December 2021.docx 2 Notes: (1) The Company’s investment in Bentley Capital Limited (ASX: BEL ), an Associated Entity (i.e. in which the Company has a greater than 20% interest), is accounted for under the equity method in the consolidated financial statements. Under the equity method, the carrying amount of such investment is cost plus a share of the Associate Entity’s net profit or loss (after tax) for the financial year to month end as provided to the Company by such Associated Entity. Refer also Note 19 (Investments in Associates) on pages 35 and 36 of the Company’s 30 June 2021 Annual Report for further details in this regard. Accordingly, as at 31 December 2021, the Company’s 20,513,783 shares (26.95% interest) (30 November 2021: 20,513,783 shares and 26.95%) in BEL have a $0.889m carrying value; this compares with BEL’s last bid price on ASX of $0.07 per share ($1.44m) and BEL’s after-tax NTA backing of $0.1035 per share ($2.123m) 1 , as at month end. (2) The fair value of investments in ASX-listed Strike Resources Limited (ASX:SRK) comprise 10,000,000 shares (30 November 2021: 10,000,000 shares) with a value of $0.11 per share (based on the closing bid price as at 31 December 2021) (30 November 2021: $0.097). (3) The fair value of investments in other listed securities is based on each security’s last bid price on market at month end. (4) I nvestment in property (held for resale) was valued by an independent qualified licensed valuer of the Australian Property Institute as at 30 June 2021. (5) Tax Provision Item (c) includes where applicable, a provision for income tax on net unrealised gains on the Company’s investments in securities and its share of Associated Entities’ after-tax net profit for the month (deferred tax liability) and the recognition of future income tax benefits on net unrealised losses on the Company’s investments in securities and its share of Associated Entities’ after-tax net loss for the month (deferred tax asset). Refer also Note 5 (Tax) on pages 25 to 27 of the Company’s 30 June 2021 Annual Report for further details in this regard. AUTHORISED FOR RELEASE - FOR FURTHER INFORMATION: Victor Ho Executive Director & Company Secretary T | (08) 9214 9797 E | cosec@orionequities.com.au 1 Refer BEL’s ASX Announcement dated 14 January 2022: NTA Backing as at 31 December 2021
Information on this Website is provided for general information purposes only and is not a substitute for professional advice. ASX Information (including company announcements and prices) is delayed by at least 20 minutes. JSE Information (including company announcements and prices) is delayed by at least 15 minutes. Reliance on the information you access on or from this Website is solely at your own risk. We make no representation or warranty in relation to the future performance of the companies that appear on this Website. Investment in securities involves risk and you should obtain independent professional legal, financial, investment or company advice before acting on any of the information you access on this Website. Using, browsing or otherwise accessing this Website is subject to our Terms and Conditions and our Privacy Policy.

© 2022 Listcorp. ABN 60 166 140 307

Never miss news from Orion Equities (ASX:OEQ) when you join Listcorp.