Spheria Emerging Companies reports pre-tax NTA backing

Spheria Emerging Companies Limited (ASX: SEC) announced its estimated pre-tax net tangible asset (NTA) backing per share of $2.690 as of November 3, 2025. This figure was released on November 6, 2025.

The reported NTA value reflects adjustments for a dividend of 3.8 cents per share, payable on November 14, 2025, with an ex-date of October 24, 2025. The company notes that this NTA figure is unaudited and should be considered approximate.

NTA per share is calculated based on the daily value of the company's investment portfolio and cash balances. It also accounts for management and performance fees, as well as estimated movements in operating costs and income taxes since the last reported weekly or monthly NTA. Pre-tax NTA specifically includes tax on realised gains/losses and other earnings but excludes provisions for tax on unrealised gains/losses, deferred tax assets related to capitalised issue costs, and income tax losses. The announcement was authorised by Terence Kwong, company secretary.