Premium / Discount to NTA

Share price relative to net asset backing (NTA) per share

AGLI's shares can trade at a premium or discount to the company’s NTA. This is due to a number of factors including general equity market sentiment and fluctuations in buying and selling demand for AGLI shares specifically. On 31 January 2019 the share price closed at a discount of 16.5% to NTA per share.

We are very focused on reducing AGLI’s current share price discount to NTA to better reflect the underlying value of the shares. We have implemented a range of initiatives aimed at achieving this objective including:

  • On-market buy-back AGLI has bought back and cancelled over 2.0 million of its own shares to improve the NTA value and earnings per share of the remaining shares.

  • Buying DRP shares on-market Shares required for allocation to participants in the Dividend Reinvestment Plan (DRP) are bought on-market, rather than issuing new shares at a discount to NTA.

  • Increasing marketing and communication To improve awareness and understanding of AGLI among existing and prospective shareholders, we undertake various communications and marketing activities. These include regular engagement with brokers and other financial advisers, presenting at investor conferences, contributing articles to investor publications, publishing informative videos, and distributing regular information emails to our investor subscriber list. We have recently added to our internal resources, appointing a dedicated Communications Manager.

The graph below shows the fluctuations in the month end premium or discount to NTA since AGLI listed in July 2015.