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Kingfish doubles Net Asset Value

Kingfish doubles Net Asset Value


The directors of Kingfish Ltd are delighted to announce that the company’s net asset value per share (NAV) has exceeded $2.00 for the first time since listing in 2004. NAV measures the value of the listed companies in its portfolio. “The $2.00 mark is significant as it means that investors who bought Kingfish shares in March 2004 for $1.00 have seen their investment double in value in less than three years,” Kingfish Chairman Rob Challinor says.


“Equally pleasing is that the current share and warrant prices of $1.50 and $0.50, which together with a 7.0cps fully imputed dividend means that IPO investors have had a total return of more than 100%.”

Kingfish manager, Fisher Funds’ Managing Director, Carmel Fisher says, “Fisher Funds is proud to have performed well in managing the Kingfish assets and is delighted shareholders have reaped the benefits of these considerable returns. Our focus remains on finding high-quality investments, managing the overall portfolio and ensuring that Kingfish shareholders are fully informed about the companies within their portfolio.

“We believe we have a choice selection of New Zealand’s finest growth companies and hope they will continue to enable us to achieve above average returns.”

The next Kingfish shareholder update will be released in January 2007 reviewing the activities of the December quarter.

ENDS

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