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8IP Emerging Companies is trading at premium to NTA

The pre-tax NTA represents an 18.2% premium to the company's share price.
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The listed investment company (LIC) typically invests in sub-$500 million companies

8IP Emerging Companies Ltd (ASX:8EC) has released unaudited pre- and post-tax net tangible assets (NTA) as at 31 March, 2018.

Both its pre-tax NTA of $1.0995 per share and post-tax NTA $1.0576 per share are at significant premiums to the share price of 93 cents.

8EC is a listed investment company (LIC) focused primarily on ASX-listed emerging companies, typically with market caps of under $500 million.

Owned 100% by its staff

Eight Investment Partners (8IP) is the manager of the 8IP Emerging Companies LIC.

It is a specialist small companies investment manager with over $250 million in funds under management and is 100% owned by its staff.

The LIC is managed by Kerry Series and Stephen Walsh, who are both experienced investment professionals.

Strategic support from Wilson Asset Management

Earlier this week, 8EC revealed strategic support of Wilson Asset Management and the appointment of experienced director Geoff Wilson AO to its board.

The company also appointed independent non-executive director Robin Burns.

The move comes after 8EC’s largest shareholder at 19.99%, Aurora Funds Management, made a hostile move to add three directors to the board.

Shareholders will vote on this at the upcoming general meeting scheduled for next Monday, 16 April 2018 in Melbourne.

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