Spheria Emerging Companies updates estimated NTA backings for October

Spheria Emerging Companies Limited (ASX: SEC) updated its estimated Net Tangible Asset (NTA) backing per share, reporting figures for both 10 October 2025 and 13 October 2025. As of 10 October 2025, the pre-tax NTA stood at $2.715, while the post-tax NTA was $2.594. These figures are approximate and unaudited.

For 13 October 2025, the estimated pre-tax NTA per share was $2.696, also noted as unaudited and approximate. NTA calculations for both announcements exclude deferred tax assets related to capitalised issue cost balances and income tax losses.

The pre-tax NTA includes tax on realised gains/losses and other earnings but excludes any provision for tax on unrealised gains/losses. The post-tax NTA, conversely, incorporates tax on both realised and unrealised gains/losses, as well as other earnings. The daily NTA estimate is based on the company's investment portfolio, cash balances, and adjustments for management and performance fees, operating costs, and income taxes since the last reported NTA.