Key highlights from Platinum Asia Investments AGM

Platinum Asia Investments (ASX:PAI) held its 2024 Annual General Meeting on 19 November. The meeting highlighted the company's financial performance and strategic initiatives. It reported a pre-tax profit of $18.6 million and declared a fully-franked dividend of 2.5 cents per share. A scheme of arrangement with the Platinum Asia Fund was also discussed.

Comprehensive summary and future prospects

Platinum Asia Investments (ASX:PAI) conducted its 2024 AGM, providing an overview of its financial and investment performance. With a pre-tax profit of $18.6 million and a dividend declared, the company faces challenges as its investment returns underperformed compared to the MSCI AC Asia ex-Japan Net Index. Strategic developments include a proposed scheme with the Platinum Asia Fund to address share price discounts. This scheme is set to be implemented by July 2025. The company aims to enhance shareholder value and maintain access to its investment strategy through an open-ended fund. Looking ahead, PAI reported a positive investment return of 10.9% from June to October 2024, outperforming the index. The company remains focused on addressing market challenges and sustaining a strong financial foundation.

Executive insights on financial and strategic outlook

The scheme of arrangement with PAXX is a strategic move to address the share price discount and ensure continued access to our Asia ex-Japan strategy through an ASX-quoted vehicle.