Global Masters Fund Limited (ASX: GFL), an Australian-listed investment company focused on a diversified portfolio of international listed securities, has released its Quarterly Report to Trustee and ASIC for the period ended 31 March 2026. The announcement provides an update on the company’s GFLGA Convertible Notes, confirming that the conversion price of these notes into ordinary shares remains unchanged at $3.10. Notably, the quarter saw a total of 12,900 notes converted into ordinary shares, indicating ongoing activity within its convertible note program.
The report detailed the company’s Loan-to-Value (LTV) Ratio, which stood at 10.73% as at 31 March 2026. This ratio, calculated by dividing total debt less cash and cash equivalents by the market value of all marketable securities, provides an insight into the company’s financial leverage. At the quarter’s close, Global Masters Fund reported total debt of $8,260,003, cash and cash equivalents amounting to $2,498,184, and a market value of marketable securities totalling $53,683,652.
Furthermore, Global Masters Fund affirmed its adherence to regulatory and governance obligations throughout the reporting period. The company confirmed compliance with the terms of its Notes, the Trust Deed, and Chapter 2L, Chapter 2M, and Chapter 6CA of the Corporations Act 2001. The report also stated that no circumstances arose that would cause notes to become immediately payable or enforceable, nor were there any events that materially prejudiced the issuer or involved a substantial change in the nature of its business. This report has been authorised for release by the board, ensuring transparency for note holders and the market.
