BIF - Valuation Adjustment Update

GENERAL

Thu, Nov 28 2024 04:41 pm

Booster announced on 26 November that a negative adjustment was to be made to the unit price of the Fund of 3.25% following the notification that one of its investee entities was planning to proceed to liquidation. Booster also confirmed it was in process of completing its monthly assessment of value of each of the investments in the portfolio and would confirm the outcome of this review.

The outcome of this review was a net reduction of a further $145,000 (net of any allowance for performance fees and tax) which represents 0.75% of the Fund. The resulting value of the Fund is $19.1 million with an approximate net asset value of $1.469 per unit. This valuation adjustment will be reflected in the unit price for 27 November 2024 (which will be calculated and issued on 29 November 2024).

The valuation adjustments predominately reflect the challenging capital raising environment for some companies and, to a lesser extent, positive and negative valuation adjustments have been made for some businesses based on progress towards their business plans.

For more information, please contact:
Gary Scott
Company Secretary
Booster Investment Management Limited
04 8944300

About Booster
Booster Investment Management Limited (Booster) is the manager and issuer of the Fund, and part of the Booster Group which has been helping New Zealanders save since 1998. The group currently administers superannuation and investment funds of over $7 billion on behalf of more than 200,000 New Zealanders.
BIF is a managed investment fund that invests in early-stage companies founded on intellectual property originated or developed in New Zealand.
For more information, including a copy of the Product Disclosure Statement, please visit www.booster.co.nz