Flagship Investments Limited (ASX: FSI), an Australian investment firm, has released its Quarterly Report to the Trustee and ASIC for the quarter ended 30 June 2025, pertaining to its FSI Convertible Notes (ASX: FSIGA). Flagship Investments specialises in identifying and investing in undervalued assets with strong growth potential. The company aims to deliver consistent returns to its investors through a diversified investment portfolio.
The report, authorised for release by the Board, confirms that the conversion price of the FSI Notes into ordinary shares remains unchanged at $2.70. Additionally, the loan-to-value (LTV) ratio as of 30 June 2025 is reported as 20.91%. The LTV Ratio is calculated by dividing Total Debt less Cash and Cash Equivalents by the Market Value of all Marketable Securities held by or on behalf of the Issuer.
As of 30 June 2025, Flagship Investments reported Total Debt of $20,000,000, Cash and Cash Equivalents of $3,198,973, and a Market Value of all Marketable Securities amounting to $80,331,688. The company affirmed compliance with the terms of the Notes, the Trust Deed, and Chapter 2L of the Corporations Act 2001 during the reporting period. The board has certified that the company’s financial position and performance ensures there are sufficient assets to repay noteholders when payment is due.
According to the report, no circumstances arose that would materially prejudice the Issuer, its subsidiaries, or any security interest. There has been no substantial change in the nature of the business, nor have there been any events such as the appointment or cessation of liability of a guarantor. The Issuer also confirmed that it is not aware of any other matters that may materially prejudice any security interests or other interests of the Note holders.
