Recent Insider Transactions • Jun 02
Executive Chairman of the Board recently bought AU$50k worth of stock On the 1st of June, Alexander Beard bought around 295k shares on-market at roughly AU$0.17 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Alexander has been a buyer over the last 12 months, purchasing a net total of AU$90k worth in shares. New Risk • May 27
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 53% per year over the past 5 years. Minor Risk Market cap is less than US$100m (AU$91.3m market cap, or US$65.1m). Buy Or Sell Opportunity • May 21
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 19% to AU$0.17. The fair value is estimated to be AU$0.22, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 47% over the last 3 years. Meanwhile, the company became loss making. Announcement • May 08
Schoolblazer Limited to Report First Half, 2026 Results on May 27, 2026 Schoolblazer Limited announced that they will report first half, 2026 results on May 27, 2026 Announcement • Dec 15
Hancock & Gore Ltd, Annual General Meeting, Feb 12, 2026 Hancock & Gore Ltd, Annual General Meeting, Feb 12, 2026. New Risk • Nov 27
New major risk - Revenue and earnings growth Earnings have declined by 10% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Cash payout ratio: 324% Earnings have declined by 10% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (15% increase in shares outstanding). Market cap is less than US$100m (AU$118.0m market cap, or US$76.9m). Announcement • Oct 22
Hancock & Gore Ltd to Report Fiscal Year 2025 Results on Nov 26, 2025 Hancock & Gore Ltd announced that they will report fiscal year 2025 results on Nov 26, 2025 Recent Insider Transactions • Sep 05
Director recently bought AU$63k worth of stock On the 3rd of September, Angus Murnaghan bought around 250k shares on-market at roughly AU$0.25 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth AU$68k. Insiders have collectively bought AU$156k more in shares than they have sold in the last 12 months. Recent Insider Transactions • Aug 22
Director recently bought AU$68k worth of stock On the 20th of August, Angus Murnaghan bought around 250k shares on-market at roughly AU$0.27 per share. This transaction amounted to 14% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$93k more in shares than they have sold in the last 12 months. Announcement • Aug 19
Hancock & Gore Ltd (ASX:HNG) acquired Trutex Limited for AUD 16.9 million. Hancock & Gore Ltd (ASX:HNG) acquired Trutex Limited for AUD 16.9 million on August 19, 2025. A cash consideration of AUD 12.6 million will be paid by Hancock & Gore Ltd. Hancock & Gore Ltd will pay an contingent payment of AUD 4.3 million cash on July 31, 2026. As part of consideration, AUD 16.9 million is paid towards common equity of Trutex Limited. Acquisition fully funded from H&G’s balance sheet.
Hancock & Gore Ltd (ASX:HNG)completed the acquisition of Trutex Limited on August 19, 2025. Declared Dividend • May 31
First half dividend of AU$0.01 announced Dividend of AU$0.01 is the same as last year. Ex-date: 5th June 2025 Payment date: 12th June 2025 Dividend yield will be 6.8%, which is higher than the industry average of 1.3%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. The dividend is also not covered by cash flows (dividend approximately 7x free cash flows). The dividend has increased by an average of 2.9% per year over the past 10 years. However, payments have been volatile during that time. Announcement • Apr 15
Hancock & Gore Ltd to Report First Half, 2025 Results on May 27, 2025 Hancock & Gore Ltd announced that they will report first half, 2025 results on May 27, 2025 Announcement • Jan 15
Hancock & Gore Ltd (ASX:HNG) proposed to acquire Substantially all assets of H&G High Conviction Limited from H&G High Conviction Limited (ASX:HCF), managed by Supervised Investments Australia Limited. Hancock & Gore Ltd (ASX:HNG) proposed to acquire Substantially all assets of H&G High Conviction Limited from H&G High Conviction Limited (ASX:HCF), managed by Supervised Investments Australia Limited on January 13, 2025. Announcement • Dec 20
Hancock & Gore Ltd, Annual General Meeting, Feb 13, 2025 Hancock & Gore Ltd, Annual General Meeting, Feb 13, 2025. Declared Dividend • Nov 29
Final dividend of AU$0.01 announced Shareholders will receive a dividend of AU$0.01. Ex-date: 5th December 2024 Payment date: 20th December 2024 Dividend yield will be 7.0%, which is higher than the industry average of 1.3%. Sustainability & Growth Dividend is covered by earnings (49% earnings payout ratio) but not covered by cash flows (251% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 45% to shift the payout ratio to a potentially unsustainable range, which is more than the 11% EPS decline seen over the last 5 years. Reported Earnings • Nov 29
Full year 2024 earnings released Full year 2024 results: Revenue: AU$10.7m (up 498% from FY 2023). Net income: AU$4.91m (down 40% from FY 2023). Profit margin: 46% (down from 457% in FY 2023). Announcement • Oct 14
Hancock & Gore Ltd Appoints Tim James as Director The board of Hancock & Gore Limited announced the appointment of Tim James as a Director of the Company effective 12 October 2024. The appointment of Mr. James was approved upon completion of the merger of Schoolblazer Limited with H&G 100%-owned subsidiary, Mountcastle Group. Tim James (B.Eng.) is an accomplished entrepreneur and co-founder of Schoolblazer, the leading school uniform retailer for large UK independent schools. Schoolblazer has redefined the industry in the UK with its commitment to quality, unmatched service, leverage of technology, online fulfilment and sustainability. With well over 25 years of experience in retail, Tim brings a wealth of strategic insight and operational expertise to the group. His experience in scaling Schoolblazer will be invaluable in driving the expansion of the Schoolblazer business in the Australian market. Buy Or Sell Opportunity • Oct 10
Now 21% overvalued Over the last 90 days, the stock has fallen 4.5% to AU$0.32. The fair value is estimated to be AU$0.26, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 80% over the last 3 years. Earnings per share has declined by 46%. New Risk • Oct 01
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 65% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (65% increase in shares outstanding). Minor Risks Dividend is not well covered by cash flows (202% cash payout ratio). Large one-off items impacting financial results. Revenue is less than US$5m (AU$1.7m revenue, or US$1.2m). Market cap is less than US$100m (AU$119.2m market cap, or US$82.6m). Buy Or Sell Opportunity • Jul 25
Now 21% overvalued Over the last 90 days, the stock has fallen 20% to AU$0.33. The fair value is estimated to be AU$0.27, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 80% over the last 3 years. Earnings per share has declined by 46%. Buy Or Sell Opportunity • Jul 08
Now 24% overvalued Over the last 90 days, the stock has fallen 15% to AU$0.34. The fair value is estimated to be AU$0.28, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 80% over the last 3 years. Earnings per share has declined by 46%. Recent Insider Transactions • May 29
Executive Chairman of the Board recently bought AU$68k worth of stock On the 25th of May, Alexander Beard bought around 200k shares on-market at roughly AU$0.34 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Alexander has been a buyer over the last 12 months, purchasing a net total of AU$141k worth in shares. Buy Or Sell Opportunity • May 27
Now 22% overvalued Over the last 90 days, the stock has fallen 20% to AU$0.35. The fair value is estimated to be AU$0.29, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 69% over the last 3 years. Earnings per share has declined by 46%. Declared Dividend • May 23
First half dividend of AU$0.01 announced Shareholders will receive a dividend of AU$0.01. Ex-date: 5th June 2024 Payment date: 13th June 2024 Dividend yield will be 5.9%, which is higher than the industry average of 1.3%. Sustainability & Growth Dividend is covered by earnings (37% earnings payout ratio) but not covered by cash flows (163% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 29% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • May 07
Hancock & Gore Ltd to Report First Half, 2024 Results on May 21, 2024 Hancock & Gore Ltd announced that they will report first half, 2024 results on May 21, 2024 Announcement • Mar 02
Hancock & Gore Ltd (ASX:HNG) completed the acquisition of remaining 10.2% stake in Mountcastle Pty Ltd. Hancock & Gore Ltd (ASX:HNG) entered into binding agreement to acquire remaining 10.2% stake in Mountcastle Pty Ltd on November 16, 2023. The consideration for the transaction is 21,602,824 Hancock & Gore shares to be issued to the vendors at 35 cents per share. The transaction is subject to shareholders approval of Hancock & Gore.Hancock & Gore Ltd (ASX:HNG) completed the acquisition of remaining 10.2% stake in Mountcastle Pty Ltd on March 1, 2024. Announcement • Feb 28
Hancock & Gore Ltd Announces Executive Changes Hancock & Gore Ltd. announced that Damian Nishantha Seneviratne, the Company's current Chief Financial Officer, has been appointed joint Company Secretary, with effect from 26 February 2024. Mr. Seneviratne was appointed the Chief Financial Officer of Hancock & Gore Limited in March 2023 and will also undertake the role of joint company secretary. Further to this appointment, Max Crowley of Automic Group will step down as the Company Secretary with effect from 15 April 2024. The Board wishes to thank Mr. Crowley for his services to HNG and its group entities. Mr. Seneviratne is an experienced company secretary and a fellow member of the Governance Institute of Australia (GIA) and Institute of Chartered Secretaries and Administrators (ICSA). Mr. Seneviratne was the former Company Secretary and Chief Financial Officer of Milton Corporation Limited (between 2012 and 2021) which merged with Washington H Soul Pattinson & Company Limited. Upcoming Dividend • Nov 30
Upcoming dividend of AU$0.01 per share at 3.9% yield Eligible shareholders must have bought the stock before 07 December 2023. Payment date: 21 December 2023. Payout ratio is a comfortable 41% but the company is paying out more than the cash it is generating. Trailing yield: 3.9%. Lower than top quartile of Australian dividend payers (7.0%). Higher than average of industry peers (1.5%). Announcement • Nov 29
Hancock & Gore Ltd has completed a Follow-on Equity Offering in the amount of AUD 11.044903 million. Hancock & Gore Ltd has completed a Follow-on Equity Offering in the amount of AUD 11.044903 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 30,402,509
Price\Range: AUD 0.36
Discount Per Security: AUD 0.018
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 277,778
Price\Range: AUD 0.36
Discount Per Security: AUD 0.018
Transaction Features: Subsequent Direct Listing Reported Earnings • Nov 22
Full year 2023 earnings released: EPS: AU$0.037 (vs AU$0.027 in FY 2022) Full year 2023 results: EPS: AU$0.037 (up from AU$0.027 in FY 2022). Net income: AU$8.17m (up 46% from FY 2022). Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Announcement • Nov 05
Hancock & Gore Ltd (ASX:HNG) completed the acquisition of additional 40.3% in Mountcastle Pty Ltd from James Baldwin and his associated entity. Hancock & Gore Ltd (ASX:HNG) reached an principle agreement to acquire an additional 40.3% in Mountcastle Pty Ltd from James Baldwin and his associated entity for AUD 14.8 million on September 4, 2023. Hancock & Gore Ltd (ASX:HNG) entered into a definitive sale and purchase agreement to acquire an additional 40.3% in Mountcastle Pty Ltd from James Baldwin and his associated entity on September 26, 2023. The consideration for the 40.3% Mountcastle equity acquisition comprises a cash component of AUD 5.0 million upon completion; issuance of 15 million H&G shares at 35 cents per share; transfer of H&G’s unencumbered equity in Hyde Rd Trust to the Shareholder Partner requiring a loan repayment to the Trust’s lender of AUD 3.47 million by March 31, 2024 and interest; and a deferred cash consideration of AUD 5.0 million payable 1 year after completion. H&G will fund the acquisition using its existing cash on balance sheet. If the acquisition proceeds, H&G will hold 89.8% of Mountcastle. Remaining shareholders in Mountcastle largely comprise management executives and H&G is exploring opportunities to create further alignment through eventual 100% ownership. Mountcastle standalone reported record FY23 (June year-end) revenue of AUD 53 million and EBITDA of AUD 10.5 million. The acquisition is subject to entering into definitive legal agreements, lender approvals, ASX consultations and other commercial conditions precedent. H&G is aiming to complete the acquisition by November 1, 2023. Successful completion of the acquisition will significantly enhance H&G's financial performance and growth prospects, contributing to cash profit growth and future dividends.Hancock & Gore Ltd (ASX:HNG) completed the acquisition of additional 40.3% in Mountcastle Pty Ltd from James Baldwin and his associated entity on November 3, 2023. New Risk • Nov 04
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 6.7% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (165% cash payout ratio). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (297% net profit margin). Shareholders have been diluted in the past year (6.7% increase in shares outstanding). Revenue is less than US$5m (AU$1.8m revenue, or US$1.2m). Market cap is less than US$100m (AU$87.7m market cap, or US$57.1m). Announcement • Sep 05
Hancock & Gore Ltd (ASX:HNG) reached an principle agreement to acquire an additional 40.3% in Mountcastle Pty Ltd for AUD 14.8 million. Hancock & Gore Ltd (ASX:HNG) reached an principle agreement to acquire an additional 40.3% in Mountcastle Pty Ltd for AUD 14.8 million on September 4, 2023. The consideration for the 40.3% Mountcastle equity acquisition comprises a cash component of AUD 5.0 million upon completion; issuance of 15 million H&G shares at 35 cents per share; transfer of H&G’s unencumbered equity in Hyde Rd Trust to the Shareholder Partner requiring a loan repayment to the Trust’s lender of AUD 3.47 million by March 31, 2024 and interest; and a deferred cash consideration of AUD 5.0 million payable 1 year after completion. H&G will fund the acquisition using its existing cash on balance sheet. If the acquisition proceeds, H&G will hold 89.8% of Mountcastle. Remaining shareholders in Mountcastle largely comprise management executives and H&G is exploring opportunities to create further alignment through eventual 100% ownership. Mountcastle standalone reported record FY23 (June year-end) revenue of AUD 53 million and EBITDA of AUD 10.5 million. The acquisition is subject to entering into definitive legal agreements, lender approvals, ASX consultations and other commercial conditions precedent. H&G is aiming to complete the acquisition by November 1, 2023. Successful completion of the acquisition will significantly enhance H&G's financial performance and growth prospects, contributing to cash profit growth and future dividends. Reported Earnings • May 24
First half 2023 earnings released: EPS: AU$0.01 (vs AU$0.012 in 1H 2022) First half 2023 results: EPS: AU$0.01 (down from AU$0.012 in 1H 2022). Net income: AU$2.20m (down 11% from 1H 2022). Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Announcement • May 24
Hancock & Gore Ltd Declares Interim Dividend for the Period Ended March 31, 2023, Payable on 3 June 2023 The Directors of Hancock & Gore Ltd. have resolved to declared a 0.5 cents per share fully franked interim dividend in relation to the period ended March 31, 2023. The interim dividend will have a record date of 30 May 2023 and will be paid on 13 June 2023. On 15 September 2022, directors declared a fully franked dividend of 1.0 cent in relation to the previous corresponding period which comprised of 0.5 cents interim dividend and 0.5 cents special dividend paid on 30 September 2022. Announcement • May 19
Hancock & Gore Ltd Announces Change of Company Secretary Hancock & Gore Ltd. announced that Ms Virginie O'Keefe of Automic Group has resigned as Company Secretary of the Company, effective 19 May 2023. Ms O'Keefe tendered her resignation from the Automic Group and will be replaced by Mr. Max Crowley, member of the Automic Group, effective immediately. The board wishes to thank Ms O'Keefe for her services to the company. Mr. Crowley is an experienced corporate lawyer and company secretary specialising in ASX listings, employee equity schemes, capital raising and providing advice on corporate governance and compliance issues. Mr. Crowley is a member of Automic Group, which provides market leading, cloud-based share registry technology, compliance and governance solutions, supported by a tailored range of professional services. As a member of Automic Group's Company Secretary team, Mr. Crowley acts as Company Secretary to a number of ASX listed and unlisted public companies across a range of industries. Recent Insider Transactions • Mar 24
Executive Chairman of the Board recently bought AU$74k worth of stock On the 22nd of March, Alexander Beard bought around 273k shares on-market at roughly AU$0.27 per share. This transaction amounted to 1.6% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth AU$98k. Alexander has been a buyer over the last 12 months, purchasing a net total of AU$216k worth in shares. Recent Insider Transactions • Mar 14
Executive Chairman of the Board recently bought AU$98k worth of stock On the 9th of March, Alexander Beard bought around 350k shares on-market at roughly AU$0.28 per share. This transaction amounted to 2.1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Alexander has been a buyer over the last 12 months, purchasing a net total of AU$142k worth in shares. Announcement • Jan 23
Hancock & Gore Ltd Announces Company Secretary Changes Hancock & Gore Ltd. announced that Ms. Virginie O'Keefe has been appointed as Company Secretary effective immediately. Ms O'Keefe is a member of Automic Group, which provides market leading, cloud-based share registry technology, compliance and governance solutions, supported by a tailored range of professional services. Virginie has delivered governance advice and support to a range of ASX listed and unlisted public and proprietary companies across a range of industries. Ms. O'Keefe is a member of the Governance Institute of Australia. Further to this appointment, Mr. Michael Bower will step down as Company Secretary of the Company effective immediately. For the purpose of ASX Listing Rule 12.6, Ms O'Keefe will be the person responsible for communications with the ASX in relation to Listing Rules Matters. Reported Earnings • Nov 26
Full year 2022 earnings released: EPS: AU$0.027 (vs AU$0.12 in FY 2021) Full year 2022 results: EPS: AU$0.027 (down from AU$0.12 in FY 2021). Net income: AU$5.60m (down 64% from FY 2021). Over the last 3 years on average, earnings per share has increased by 68% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings. Announcement • Nov 25
Hancock & Gore Ltd Announces Ordinary Fully Paid Dividend for the Year Ended September 30, 2022, Payable on December 12, 2022 Hancock & Gore Ltd. announced ordinary fully paid dividend of AUD 0.01000000 for the year ended September 30, 2022. Record date is December 1, 2022. Ex-date is November 30, 2022. The dividend will be payable on December 12, 2022. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Non-Executive Chairman of the Board Sandy Beard was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Sep 20
Linet Australia completed the acquisition of 70% stake in Pegasus Healthcare Group. Linet Australia signed a binding sale and purchase agreement to acquire 70% stake in Pegasus Healthcare Group for approximately AUD 10 million on August 10, 2022. The consideration will be paid in cash and LINET will pay H&G a AUD1.1 million deposit within 5 business days of signing. Senior management will continue to run the business as shareholders alongside LINET. The transaction is subject to receiving material contract change of control consents and no material adverse change occurring prior to completion. We anticipate the transaction will complete during September 2022, subject to contract counterparty processes. All conditions precedent have now been met for the divestment of its 70% interest in Pegasus Healthcare Group with completion scheduled for Friday September 16, 2022.
Linet Australia completed the acquisition of 70% stake in Pegasus Healthcare Group on September 19, 2022. Announcement • Aug 11
Linet Australia signed a binding sale and purchase agreement to acquire Pegasus Healthcare Group for approximately AUD 10 million. Linet Australia signed a binding sale and purchase agreement to acquire Pegasus Healthcare Group for approximately AUD 10 million on August 10, 2022. The consideration will be paid in cash and LINET will pay H&G a AUD1.1 million deposit within 5 business days of signing. Senior management will continue to run the business as shareholders alongside LINET. The transaction is subject to receiving material contract change of control consents and no material adverse change occurring prior to completion. We anticipate the transaction will complete during September 2022, subject to contract counterparty processes. Reported Earnings • May 26
First half 2022 earnings released First half 2022 results: Net income: (down AU$10.2m from profit in 1H 2021). Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Non-Executive Chairman of the Board Sandy Beard was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Mar 30
Hancock & Gore Ltd Announces Management Changes Hancock & Gore Ltd. appointed Michael Bower as company secretary. Michael is a chartered accountant, qualified in both Australia and England & Wales, Michael has over 30 years experience in finance and investing roles, including 17 years at CVC Limited. Iain Thompson had been fulfilling the role of Company Secretary for both the Company and the Company's investment Mountcastle Pty. Ltd. Iain has now moved to a full-time role at Mountcastle. Announcement • Nov 27
HGL Limited announced that it expects to receive AUD 14.999997 million in funding HGL Limited announced that it will issue 45,454,536 shares at a price of AUD 0.33 per share for gross proceeds of AUD 14,999,997 on November 26, 2021. The transaction will include participation from new and existing eligible institutional and sophisticated shareholders. The transaction will be completed in two tranches. The first tranche of 22,451,514 shares for proceeds of AUD 7,400,000 is expected to be completed on or before November 30, 2021 and the second tranche of 23,003,022 shares for proceeds of AUD 7,600,000 is expected to be completed on or before February 9, 2021. The second tranche is subject to shareholder approval. Reported Earnings • Nov 25
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: AU$0.12 (up from AU$0.19 loss in FY 2020). Revenue: AU$18.2m (down 43% from FY 2020). Net income: AU$15.6m (up AU$28.6m from FY 2020). Profit margin: 86% (up from net loss in FY 2020). The move to profitability was driven by lower expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Upcoming Dividend • Nov 17
Upcoming dividend of AU$0.01 per share Eligible shareholders must have bought the stock before 24 November 2021. Payment date: 03 December 2021. Trailing yield: 2.6%. Lower than top quartile of Australian dividend payers (5.5%). Higher than average of industry peers (1.5%). Is New 90 Day High Low • Mar 02
New 90-day high: AU$0.24 The company is up 33% from its price of AU$0.18 on 02 December 2020. The Australian market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Trade Distributors industry, which is up 11% over the same period. Is New 90 Day High Low • Jan 22
New 90-day high: AU$0.23 The company is up 52% from its price of AU$0.15 on 14 October 2020. The Australian market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Trade Distributors industry, which is up 14% over the same period. Announcement • Dec 23
HGL Limited Announces Executives Changes HGL Limited announced that agreement has been reached with CEO, Greg Timar, to leave HGL effective 31 December 2020. HGL does not intend at this stage to replace Greg's role, with Sandy Beard to absorb the CEO responsibilities as Chair in the interim. The board would like to acknowledge Greg's considerable efforts over the last twelve months through challenging trading conditions and culminating in the most recent capital raise, introduction of new strategic investors and the sale of JSB Lighting. Greg will stay on for a short period to manage an orderly transition. Reported Earnings • Dec 01
Full year 2020 earnings released: AU$0.19 loss per share The company reported a poor full year result with weaker earnings, revenues and control over expenses. Full year 2020 results: Revenue: AU$31.9m (down 19% from FY 2019). Net loss: AU$13.0m (down AU$14.2m from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 119% per year but the company’s share price has only fallen by 28% per year, which means it has not declined as severely as earnings. Announcement • Nov 23
FOS Lighting Pty Ltd signed a binding heads of agreement to acquire 50% stake in Baker & Mcauliffe Holdings Pty Limited from HGL Limited (ASX:HNG). FOS Lighting Pty Ltd signed a binding heads of agreement to acquire 50% stake in Baker & Mcauliffe Holdings Pty Limited from HGL Limited (ASX:HNG) on November 23, 2020. HGL will receive 3 million ordinary shares of FOS Capital Limited, the parent of FOS Lighting as consideration for the sale of 50% of JSB Lighting. HGL will grant FOS Lighting an option to acquire the balance 50% of its shares in JSB Lighting for net tangible asset value at the point of exercise of the option. The transaction remains subject to approval of HGL’s lender ANZ which is expected shortly. Sandy Beard, Chairman of HGL will be appointed a Director of FOS Capital. Announcement • Oct 30
HGL Limited Announces Board Changes HGL Limited announced that Sandy Beard has been appointed to the Board as Chairman, replacing Kevin Eley, as previously announced to the ASX on 21 October 2020. Sandy Beard acknowledge the various roles that Kevin Eley has played on the Board over many years and as Chairman since June of this year. Kevin Eley continues as a Director of HGL. Recent Insider Transactions • Oct 30
Chairman recently bought AU$484k worth of stock On the 26th of October, Alexander Beard bought around 4m shares on-market at roughly AU$0.12 per share. This was the largest purchase by an insider in the last 3 months. This was Alexander's only on-market trade for the last 12 months. 
