Investor Presentaiton
Westaim Summary Statement of Financial Position
As at
(Amounts in millions of US$ except per share data)
Assets
Cash
Other assets
Investment in Skyward Specialty
Investment in Arena FINCOS
Investment in Arena Investors
Investment in ASOF
Total Assets
December 31, 2021 September 30, 2021
December 31, 2020
$6.6
$8.7
$8.7
0.8
0.7
192.1
192.3
172.8
172.3
26.2
20.4
3.2
3.1
$401.7
$397.5
$377.3
Liabilities
Accounts payable and accrued liabilities
$13.2
$12.7
Preferred securities
39.5
39.5
$11.3
39.2
Derivative warrant liability
0.2
0.6
1.0
Site restoration provision
0.7
2.2
4.9
Deferred tax liability
Total Liabilities
Shareholders' equity
Total Liabilities and Shareholders' Equity
Number of common shares outstanding
0.4
0.4
$54.0
$55.4
0.4
$56.8
347.7
$401.7
342.1
$397.5
320.5
$377.3
Book value per share - in US$1
Book value per share - in C$¹
▲WESTAIM
1.7
180.8
20.2
Book value per share increased
US$0.04 (1.7%) in Q4 2021 and
US$0.19 (8.5%) in FY 2021
163.0⚫ In Q4 2021, the carrying value of
investments increased $6.2 million
over Q3 2021 and $27.4 million over
FY 2020 to $394.3 million
2.9
Skyward Specialty's valuation was
stable due to strong net income
excluding unusual items recorded in
the Q4 2021 from underwriting and
investment income (valuation multiple
of 1.0x adjusted book value remained
unchanged in Q4 2021 from Q4 2020)
partially offset by unusual items and
unrealized losses on fixed income
investments
Arena FINCOs' net investment return
of 0.3% in Q4 2021; 6.1% net
investment return in FY 2021
142,686,718
143,186,718
143,186,718
$2.43
$2.39
C$3.07
C$3.02
$2.24
C$2.85
(1) Period end exchange rates: $1.26410 at December 31, 2021, $1.26585 at September 30, 2021 and $1.27395 at December 31, 2020.
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