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MIR - Mirrabooka Investments

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slides accompanying the AGM are up. The commentary is along the lines of "why and how we invest in emerging companies."

As well, for CY24, some portfolio movements have been noted.
Full EXIT : CPU
Trimmed : FPH , REH - both now out of the top 20 as per end Sept.

New :
ARX - Aroa Biosurgery
SDR - Siteminder
360 - Life360

Added to holdings :
IEL - IDP Education .. in top 20
CBO - Cobram Estates

With the movements, now in top 20 include WOR, OBJ & Indonesia

MIR shares are trading around $3.37, which is the stated portfolio NTA at end of September
 
Mirrabooka Investments Ltd (MIR) will transfer responsibility for the maintenance of the MIR Share Register to Link Market Services Limited, effective start of business Monday, 11 November 2024.

The new share registry contact details are provided below:
Link Market Services Limited

Street Address:
Level 12
680 George Street
Sydney NSW 2024
Australia

Postal Address:
Locked Bag A14
SYDNEY SOUTH NSW 1235

Australian Telephone: 1300 551 346
International Telephone: +61 1300 551 346
Facsimile: 02 9287 0303
Website: www.linkmarketservices.com.au
 
Thanks for the info @Dona Ferentes. I can hardly contain my excitement at the thought of having to register with another share registry and then check all is in order with the holding. I never assume the details held by a new registry on transfer from the previous one will be correct.

Bother. Just remembered I am already registered with Link when SOL had Link as its registry. Now I have to dig around to find those login details.
 
you'd hope they would notify us ... but probably not until 11th, when they have the details.

so don't hurry.
 
The whole share registry industry is a dinosaur parasitic unproductive industry that needs to die. Honestly no reason for it to exist, it would be a lot better if all assets were tokenized on the blockchain which I believe will happen eventually. In the meantime it would have been better and a lot more logical if the ASX simply provided all registry services instead of having it being done by different companies. But sometimes its too hard to change legacy industries due to the power of vested interests.
 

Not disagreeing with you actually but it may require legislative change though since Section 168 of the Corporations Act requires companies to maintain a share register. It's that aspect which has been outsourced to share registry companies as it became cumbersome for individual companies to maintain one. Cost efficiencies and all that.

As for the ASX, not a lot of confidence there as it totally stuffed up the CHESS replacement using blockchain.
 
Yesterday, i received a mailbag from Automatic to tell me i updated my phone number on one of the 3 account with them
I did that but they sent me an A4 per company they managed.the packet is 3 cm high..
Worse, the web page has issue and the mobile numbered i entered got the +61 inserted in the wrong place...i have to do it again ...
There is a $ incentive to them to send endless paper, letters, etc...
I would much prefer the extra money in dividends
Meanwhile i have to sip my drinks with a soggy collapsing cardboard straw to save the planet..
 
Rather tardy of MIR to email me seven days after it happened it is moving share registry. No matter. I'd already checked the details of my holding to ensure all was in order.
 
monkton said:
Yes, same with AFI, only got my notification yesterday, still waiting for MIR's email.
Click to expand...

Now it's set up and everything is in order, I probably will have no reason to login to the share registry again. I also registered my phone against the HIN as a secondary MFA just in case. It is very easy to do that.

Share registries can be cumbersome at times and don't really take account of multiple holders e.g. joint holders, as only one email for notifications and one phone number can be entered. Same issue if there are multiple trustees or a corporate trustee of an SMSF. Probably not a matter which can be satisfactorily resolved.

At least with Link I see you can add a holding by another entity such holding AFI/MIR personally and also by an SMSF. Better than having to login to separate accounts I think.
 
The half year financial report.
> For the six-month period, Mirrabooka’s portfolio return including the benefit of franking was 11.5%. The combined Small Ordinaries and Mid Cap 50 sector benchmark including franking, was 7.5% over the same period.
> Profit for the half-year was $4.6 million. This is in line with the $4.6 million reported for the previous corresponding period.
> Revenue from operating activities was $6.2 million, down 5.8% on the previous corresponding period. This excludes capital gains on investments.
> The interim dividend of 4.5 cents per share fully franked (at 30%), an increase of 0.5 centsper share on last year’s interim dividend, will be paid on 18 February 2025 to ordinary shareholders on the register on 24 January 2025. There is no conduit foreign income component of the dividend.
> All of the interim dividend is sourced from capital gains..
 
from the half year financial report

Acquisitions ... Cost ($’000)
Channel Infrastructure (NZ listed) ... 4,539
Cuscal (IPO) .... 4,174
Life360 .......... 3,526
Cobram Estate Olives .... 3,042
Servcorp .......... 2,965

Disposals ..... Proceeds ($’000)
PSC Insurance Group# (takeover) ... 14,138
Pinnacle Investment Management ...7,538
JB Hi-Fi# ......... 4,445
Pexa Group ... 4,315
Imdex# ............ 4,119
# Complete disposal from the portfolio.

New Companies Added to the Portfolio
Channel Infrastructure (NZ listed)
Cuscal
Servcorp
Napier Port Holdings (NZ listed)
ReadyTech Holdings
 
Bellcose said:
Thanks for that @Dona Ferentes. A nice addition to the funds at hand in February.
Click to expand...
it's good to see the capacity to increase the dividend.

And exercising investment probity, as per the Outlook:
"The recent outcome of such investment activity has seen us build a surplus cash position of approximately $19 million or 3% of the portfolio. In the absence of a shift in equity market conditions, we are content to have surplus cash as we patiently explore the market for compelling investment opportunities.

"Experience tells us that equity markets will continue to be volatile and that periods of significant performance divergence across sectors are often followed by a recalibration as the momentum of a market narrative has been found, with hindsight, to have run well through fair value. These risks are on our minds as we consider stocks that have recently seen their share prices propelled by the enthusiasm for artificial intelligence and the widespread recognition of the high-quality nature of subscription-based software companies...."
 
finicky said:
Kind of resent this
Click to expand...

I don't even know what Imdex does.

I outsource the decision making to the management of the LICs I hold in order I have no need to care as long as they consider it's in shareholders best interests. As for the ETFs my indifference level is at the extreme end.

Makes for a comfortable and comparatively stress free life in some ways.
 
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