Lion Selection Group Reports 95.3 Cents Per Share Pre-Tax NTA at 31 October 2026

Anjali Anand

05 November 2026 03:14 PM AEDT

Lion Selection Group Reports 95.3 Cents Per Share Pre-Tax NTA at 31 October 2026

Image Source: Krish Capital Pty Ltd

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Lion Selection Group (ASX:LSX) has disclosed an unaudited net tangible asset (NTA) backing of 95.3 cents per share before tax and 92.3 cents per share after tax as at 31 October 2026, with the company's total portfolio valued at $132.3 million and net cash of $28.1 million at the same date.

Key Points

Pre-tax NTA of 95.3 cents per share and after-tax NTA of 92.3 cents per share as at 31 October 2026
Total portfolio value of $132.3 million, comprising cash of $28.1 million, legacy investments of $10.7 million, and Australian investments of $97.8 million
Share price of 84.0 cents per share against a market capitalisation of $120.4 million
Australia-focused investing strategy since January 2022 shows $66.3 million invested with a current value of $106.8 million, a performance of +61%
143,341,175 ordinary shares on issue with 1,380,600 unvested performance rights outstanding

Net Tangible Asset Breakdown at 31 October 2026

According to the filing, Lion Selection Group's unaudited NTA as at 31 October 2026 stood at $136.6 million in total value before tax, equating to 95.3 cents per share. A deferred tax liability of $4.3 million, or 3.0 cents per share, reduced the after-tax total to $132.3 million, or 92.3 cents per share. The company noted that the after-tax figure reflects a provision for deferred tax on unrealised gains in the investment portfolio, as required under current accounting standards for a theoretical disposal of the total long-term investment portfolio after utilisation of brought-forward losses.

Australia-Focused Investing Strategy Performance

The filing disclosed that Lion Selection Group's Australia-focused investing strategy, which was reset in January 2022 following the finalisation of major asset sales, has recorded a performance of +61% on new investments made from that date. The company stated that $66.3 million was invested under this strategy, with the current value standing at $106.8 million. The filing noted that performance includes both realised gains and the value of current portfolio holdings. New investments under this strategy are described as separate from the legacy investment portfolio and are focused exclusively on Australian projects.

Total Shareholder Return and Portfolio Composition

Lion Selection Group disclosed total shareholder return figures spanning multiple periods, with a three-year TSR of 29.5% per annum, a five-year TSR of 16.3% per annum, a ten-year TSR of 11.4% per annum, and a TSR since inception in 1997 of 9.6% per annum. The filing stated that the Small Resources Benchmark TSR since inception stands at 5.3% per annum. The investment portfolio at 31 October 2026 comprised cash of $28.1 million, legacy investments of $10.7 million, and Australian investments of $97.8 million. Per share figures are based on ordinary shares on issue diluted for vested performance rights.

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