Net Tangible Asset Backing
Perth, Jan 14, 2019 AEST (ABN Newswire) - MMJ Group Holdings Limited (
ASX:MMJ) (MMJJF:OTCMKTS) ("MMJ") is required to announce its net tangible assets ("NTA") per share pursuant to Listing Rule 4.12 following its readmission as a listed investment company in November 2018.
Accordingly, MMJ announces that its unaudited NTA per share as at 31 December 2018 was 22.48 cents (pre-tax) and 21.16 cents (post-tax)*.
MMJ's investment portfolio (as at 12 January 2019) is summarised as follows: (see link below)
MMJ's CEO Jason Conroy commented that "A strong rebound over the past few weeks in the share prices of our public company investments (Harvest One and MediPharm Labs) has increased our post-tax NTA to approximately 27 cents per share as at 12 January 2019. We are very pleased with this improving performance and look forward to announcing further progress and developments across our portfolio in the coming months."
* The pre and post-tax numbers relate to the provision for deferred tax on the unrealised gains in MMJ's investment portfolio. Under current Accounting Standards, MMJ is required to provide for tax on any gains that may arise on such a theoretical disposal, after the utilisation of brought forward losses.
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About MMJ Group Holdings Ltd
MMJ Group Holdings Ltd (ASX:MMJ) is a global cannabis investment company. MMJ owns a portfolio of minority investments and aims to invest across the full range of emerging cannabis-related sectors including healthcare, technology, infrastructure, logistics, processing, cultivation, equipment and retail. For MMJ's latest investor presentation and news, please visit: https://www.mmjphytotech.com.au/investors/
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