20 December 2023
At its 121st Annual General Meeting in 2023, Soul Patts announced changes to its Board and brand image, and shared an update on performance for the first quarter of FY24.
After 13 years of service, Non-Executive Director Thomas Millner announced his retirement from the Board and Chairman Robert Millner thanked him for his significant contribution and support of the company’s long-term vision and values. Tom’s resignation is effective at the end of calendar 2023. Soul Patts also unveiled a refreshed look and launched a brand new website. While there is no change to the registered name – remaining as Washington H. Soul Pattinson and Company Limited – the Company has embraced a shortened and more familiar version, and explains why in this short video:
In his address to shareholders, CEO & Managing Director, Todd Barlow, reflected on a year of strong performance for Soul Patts in FY23 and continued performance in 1Q24. Notably, the Company’s cash balance now sits at $694 million which has reduced from $911 million at the end of July following additional investments into private segments of the group portfolio. Soul Patts continues to see good quality deal flow and currently has $470 million in committed but undrawn investments across the portfolio. An example of this is the recent offer to acquire 100% of Perpetual, which Soul Patts has been a long-term investor in and holds an economic interest of 14.99%.
Read Robert Millner and Todd Barlow’s full addresses here.
Watch a recording of the Annual General Meeting presentations here: