Barramundi's undiluted NAV edges up, discount to share price narrows

Barramundi Limited reported its undiluted Net Asset Value (NAV) as $0.7342 as at August 31, 2025, an increase from $0.7314 on August 27, 2025. The company's share price closed at $0.73 on August 31, resulting in a 1% discount to its NAV, an improvement from the 2% discount recorded on August 27 when the share price closed at $0.72. This NAV is unaudited and net of fees and tax.

The undiluted NAV calculation excludes the impact of 85,179,108 warrants (BRMWI) currently on issue, which can be exercised on August 7, 2026, at a price of $0.70 less declared dividends between August 7, 2025, and the exercise date. To date, dividends totaling 1.41 cents per share have been declared, with three more expected before the August 2026 exercise price announcement.

Barramundi, managed by Fisher Funds, invests in Australian growth companies. Its five largest portfolio holdings as of August 31, 2025, are CSL (8%), Seek (7%), WiseTech (6%), CAR Group (6%), and Macquarie Group (5%).