Livermore Investments Group Limited
Livermore Investments Group Limited is a BVI-incorporated, AIM-listed closed-end investment company, tax resident in Cyprus, that invests mainly in US senior secured/broadly syndicated loans via Collateralized Loan Obligations (CLOs) and CLO warehouse facilities, together with a smaller book of private equity investments (notably Fetcherr and Phytech), public equities and government/corporate bonds. It has no external investment manager; the executive directors run the portfolio directly and hold a large ownership stake.
FY2024 in sixty seconds
year to 31 Dec 2024 · approved 22 May 2025 · 82 pages · Company website
Livermore Investments Group Limited is an investment company that puts money mainly into pools of loans to US companies, known as CLOs, and also holds stakes in private firms. Its profit after tax for 2024 fell to $6.6m, from $13.9m the year before. Interest and other income from its investments was USD 22.5m, almost all of it from its CLO holdings.
Profit fell mainly because some investments lost value and because running costs rose to USD 5.6m from USD 3.3m. The increase came mostly from higher payments to directors and higher professional fees.
The company ended the year with $33.8m in cash and no borrowings, and did not issue new shares. It paid a dividend of $0.0423 per share, $7.0m in total. Management expects markets to be volatile in 2025, partly because of US tariff policy. It plans to keep investing cautiously and to hold cash ready for better opportunities. The auditor gave a clean opinion and raised no doubt over the company's future, though the report warns that loan defaults could hurt returns.
Interest and distribution income from CLO equity/mezzanine and senior secured loan investments
Interest and distribution income of USD 22.5m in 2024, of which USD 22m from the CLO portfolio
page 9No external management company structure, so no external management/performance fees borne
The Company does not have an external management company structure and thus does not bear the burden of external management and performance fees
page 9Management expects to remain lightly positioned as credit spreads are tight on a historical basis and expects volatility in 2025, especially given the new US administration's focus on tariffs and reshaping world trade
page 13Interim dividend of USD 7.0m (USD 0.0423 per share) announced 30 September 2024, paid 15 November 2024. The Board decides future dividends based on profitability, liquidity requirements, portfolio performance, market conditions, and the Company's share price relative to its NAV
page 82 years on one page · FY2023–FY2024
| Line | FY202312/23 | FY202412/24 |
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| Operating profit | ||
| Profit for the year | ||
| Basic EPS | ||
| Dividend per share | — | |
| Free cash flow | ||
| Net debt (negative = net cash) | ||
| Shares in issue | ||
| Return on capital employed | — |
USD millions, negatives in brackets. Per-share lines in cents. Share counts in millions. Margins and returns as percentages, calculated from the filed figures. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated.
Nothing restated
Nothing to compare yet: that takes a second report, which prints the first year's figures again.