$7.781m Cash and 277 Quarters of Funding for SIV Capital

Cash Reserve Remains Large While Trading Suspension Continues

SIV Capital Limited (ASX:SIV) ended the September quarter with $7.781 million in cash and interest-bearing deposits, giving the suspended corporate investment vehicle considerable liquidity on the figures reported. The company’s securities, however, remain unavailable for quotation after ASX suspended them on 18 December 2024.

Operating cash flow was negative $28,000 for the three months ended 30 September 2026. SIV received $63,000 from customers, $123,000 in interest and $16,000 from a net GST refund, while reporting $40,000 in legal costs and $189,000 in other administrative costs. There were no investing or financing cash flows during the quarter.

The quarter’s related-party payments included $50,000 in directors’ fees and $2,000 for legal services provided by Tobin King Lateef, where SIV director Bede King is a partner. Cash declined from $7.809 million at the previous quarter-end to $7.781 million.

Transaction Evaluation Provides the Main Corporate Catalyst

SIV said satisfactory progress continued in evaluating a transaction, without identifying the counterparty, structure, value or timetable. The update follows the company’s new relisting transaction, which earlier reporting said was being pursued to regain ASX listing approval.

The company continues to release periodic disclosures while its securities remain suspended. ASX previously determined that SIV’s operations were not adequate to warrant continued quotation, placing the company in breach of Listing Rule 12.1. SIV said ASX would not reinstate its securities until it was satisfied that the company complied with the Listing Rules, particularly Rules 12.1 and 12.3.

Funding Runway Depends on an Unusually Low Burn Rate

On the quarter’s operating cash usage, SIV calculated estimated funding of 277 quarters. That figure is mathematically supported by the $7.781 million cash balance and $28,000 quarterly outflow, but it is a narrow measure: it assumes the current level of cash use continues and says little about the funding required for a transaction, relisting process or any change in corporate activity.

The next meaningful evidence is therefore unlikely to come from another small quarterly cash movement. It will come from whether SIV can identify the transaction under evaluation and address the ASX concerns that have kept its securities suspended for almost two years.