NET ASSET VALUE PER SHARE
Duxton Water’s NAV at 31 December 2019 was $1.76 per share.
The after tax NAV figure takes into account the provision for deferred tax on set-up costs and estimates of net tax provisions that may arise should the entire portfolio be disposed of on the above date. The Company does not expect to trigger these tax provisions through the turnover of these assets and expects to maintain its low entitlement turnover ratio. The NAV excluding tax provisions for unrealised capital gain is $2.00. NAV is calculated based on an independent monthly portfolio valuation performed by Aither Pty Ltd (“Aither”).
At 31 December 2019, Duxton Water Ltd is invested in approximately ~$334.56 million of water assets with the remainder of the portfolio held in cash and net current assets. The Company has approximately 522ML ($3.1 million) of water entitlements in its acquisition pipeline at 31 December 2019.