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SIV Capital Limited (ASX:SIV)

ALERT: Price-sensitive ASX Announcement for SIV
Current share price for SIV : $0.150 0.005 (3.45%)+
Announcement
Release
18 Jul 2024 9:04AM
Price at Release
$0.145
Full Release
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Summary
SIV Capital Limited's quarterly report for Q4 FY24 showcases positive cash flow from operating activities for the quarter but negative for the overall financial year, primarily due to significant legal costs. The company resolved an insurance claim with a $500,000 settlement due by the end of July 2024 and had $7.24 million in cash and interest-bearing deposits as of June 30, 2024. Investments included a $250,000 convertible note in AMAG Holdings, increasing the total investment to $395,000. The board continues to explore acquisition and merger opportunities.
Key Points
  • SIV Capital Limited reported positive cash flow from operating activities for Q4 FY24 but negative for the full financial year.
  • Significant legal costs were incurred during the financial year related to ongoing legal actions.
  • The company resolved an insurance claim for accidental asset losses with a $500,000 settlement to be paid by the end of July 2024.
  • The company had $7.24 million in cash and interest-bearing deposits as of June 30, 2024.
  • Invested $250,000 in a convertible note with AMAG Holdings Australia Pty Ltd, accruing a 12% coupon rate and maturing on March 6, 2026.
  • Total investment in AMAG is $395,000 including 987,500 options over shares.
  • Board continues to evaluate and progress other major acquisition and merger opportunities.
  • Payments to related parties included directors' fees and legal fees paid to a firm where a director is a partner.
  • Current cash and cash equivalents at quarter-end were $7,324,000.
  • The company is compliant with ASX Listing Rule 4.7B and maintains effective internal control and risk management systems.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.