• Merged Mountcastle with Schoolblazer to create a global uniforms platform (Global Uniform Solutions)
• Continued growth of Disruptive Packaging with capital raise completed at 55% premium to H&G entry price
• Announced proposal to acquire H&G High Conviction Fund's assets in exchange for H&G shares

Hancock & Gore Ltd (ASX: HNG) held its 121st Annual General Meeting, providing an overview of the company's performance and key strategic initiatives. The company's diversified investment portfolio includes Global Uniform Solutions as its key operating business, as well as investments in Disruptive Packaging, a fixed income portfolio, and a listed portfolio. The company's key achievement was the merger of Mountcastle and Schoolblazer to create a global uniforms platform, Global Uniform Solutions, which now has school wear segment leadership positions in the UK, Australia, and New Zealand. The combined business is expected to generate around $109 million in revenue and $16.6 million in EBITDA for FY24. The company also highlighted the continued growth of Disruptive Packaging, with a capital raise completed at a 55% premium to H&G's entry price and acceleration of its US market penetration. Additionally, H&G announced a proposal to acquire all of H&G High Conviction Fund's assets in exchange for H&G shares, which would simplify the company's structure and increase its balance sheet flexibility to support the growth of Global Uniform Solutions. The company also provided an update on its group objectives for FY25, including a continued focus on simplification, strengthening the balance sheet, and supporting the growth of Global Uniform Solutions.

H&G expects the combined school uniforms business (Global Uniform Solutions) to generate around $109 million in revenue and $16.6 million in EBITDA for FY24.

H&G is focused on continuing the simplification of its structure, strengthening its balance sheet, and supporting the growth of its Global Uniform Solutions business. The company is also assessing further opportunities in 2025 to accelerate its push into the US$7 billion North American packaging market through its Disruptive Packaging investment.