Prospectus lodged with ASIC | Thursday, 31 March 2022 |
Record Date to determine entitlements under the Bonus Issue | Thursday, 7 April 2022 |
Expected issue and entry of Options on the register of Option holders | Thursday, 14 April 2022 |
Normal trading of Options commences on ASX | Tuesday, 19 April 2022 |
Prospectus and Option Exercise Form (including holding statement) sent | |
Thursday, 21 April 2022 | |
to eligible shareholders |
31 March 2022
ASX Limited
ASX Market Announcements Office Exchange Centre
20 Bridge Street SYDNEY NSW 2000
Magellan Financial Group Ltd
Bonus Issue of Options to Shareholders
The Directors of Magellan Financial Group Ltd ("Magellan or Group") are pleased to announce that the Board has resolved to proceed with a pro rata non-renounceable bonus issue of options ("Options") to eligible shareholders for nil consideration ("Bonus Issue"). The intention to progress with a Bonus Issue was previously announced at Magellan's Interim Results Briefing on 18 February 2022 as part of Magellan's capital management strategy.
Eligible shareholders will receive one (1) Option for every eight (8) shares held at 5:00pm (AEST) on 7 April 2022 ("Record Date"). Each Option will provide shareholders with the right, but not the requirement, to purchase one Magellan share at an exercise price of $35.00 per Option, expiring on 16 April 2027.
An application will be made to ASX for the Options to be quoted. The Options are expected to commence trading on the ASX under the code "MFGO".
Mr Hamish McLennan, Magellan's Chairman, said: "We believe the bonus issue of options at no cost to shareholders, and the $35.00 exercise price and 5 year term, provides a potential source of value for our shareholders. Today's announcement is one of a number of significant capital management initiatives recently announced that we believe are attractive to shareholders."
The Options are expected to be issued to eligible shareholders on 14 April 2022 and a Prospectus and Option Exercise Form will be distributed to option holders on or around 21 April 2022. Eligible shareholders are not obliged to take any action in relation to the Bonus Issue.
The indicative timetable for the Bonus Issue is as follows:
Key Dates |
Expiry Date for Options
5:00 pm (Sydney time),
16 April 2027
The above dates (except the date of the Prospectus) are subject to change and are indicative only. Magellan reserves the right to amend this indicative timetable subject to the Corporations Act 2001 (Cth) and the ASX Listing Rules.
Full details of the Bonus Issue are available in the prospectus which has been provided as an appendix to this announcement.
About Magellan
Magellan Financial Group is a specialist funds management business established in 2006 and based in Sydney, Australia. Magellan's core operating subsidiary, Magellan Asset Management Limited, manages approximately $69.1 billion of funds under management at 11 March 2022 across its global equities, global listed infrastructure and Australian equities strategies for retail, high net worth and institutional investors and employs approximately 140 staff globally. Magellan is listed on the Australian Securities Exchange (ASX Code: MFG). Further information can be obtained fromwww.magellangroup.com.au.
For further information, please contact:
Magellan Financial Group Ltd:
Craig Wright | Marcia Venegas | Lucy Briggs |
Investor Relations | Company Secretary | Media Relations |
+61 2 9235 4826 | +61 2 9235 4897 | +61 2 9235 4824 |
Page 2 of 2
ACN 108 437 592
Bonus Issue Prospectus
Pro rata non-renounceable bonus issue of one (1) Opon for every eight (8) Shares held by each Eligible Shareholder recorded on the Company's share register on the Record Date of 7 April 2022.
No applicaon monies are payable for the grant of Opons
Important informaon:
This Prospectus under secon 713 of the Corporaons Act contains important informaon for you as a Shareholder and requires your immediate aenon. It should be read in its enrety. If you have any quesons as to its contents or the course of acon you should follow, please consult your legal, financial or other professional adviser immediately.
Not for release to US wire services or distribuon in the United States except by the Company as it may determine in its sole discreon.
Table of Contents
2. Letter from the Chairman ............................................................................................ 5
3. Important Dates ............................................................................................................ 6
4. Bonus Issue Overview ................................................................................................. 7
5. Overview of the Company ......................................................................................... 11
6. Risk Factors ............................................................................................................... 14
7. Terms of the Bonus Issue ......................................................................................... 19
8. Effect of the Bonus Issue .......................................................................................... 24
9. Additional Information ............................................................................................... 26
10. Definitions and Interpretation ................................................................................... 33
11. Corporate Directory ................................................................................................... 35
1.
Important Notices
Lodgement and listing
This Prospectus is dated 31 March 2022 and was lodged with the Australian Securities & Investments Commission ('ASIC') on that date. Neither ASIC, Australian Securities Exchange ('ASX') nor their respective officers take responsibility for the contents of this Prospectus or the merits of the investment to which it relates. This Prospectus expires on the date which is 13 months after the date of this Prospectus and no Options will be issued on the basis of this Prospectus after that date.
This Prospectus is issued by Magellan Financial Group Ltd ACN 108 437 592 ('Company'). This Prospectus is a transaction-specific prospectus for an issue of Options to acquire continuously quoted securities (as defined in the Corporations Act). The content of this Prospectus has been prepared in accordance with section 713 of the Corporations Act and does not contain the same level of disclosure as an initial public offering prospectus and may not contain, by itself, all information relevant to a decision to invest in the Company. In preparing this Prospectus, regard has been had to the fact that the Company is a disclosing entity for the purposes of the Corporations Act and that ASX maintains a database of publicly disclosed information about the Company and certain matters may reasonably be expected to be known to investors and their professional advisers whom shareholders and potential investors may consult.
The Company will apply for quotation of the Options on ASX within seven days following the lodgement of this Prospectus with ASIC. If ASX does not grant permission for the Options to be quoted within three months after the date of this Prospectus (or any longer period permitted by law), the Options will not be issued or, if any Options have been issued, the issue will be void.
Not investment or financial product advice
The information provided in this Prospectus is not investment, financial product, legal, taxation or other advice and has been prepared without taking into account your particular objectives, financial situation or needs (including tax issues) as an investor. The Company does not provide financial product advice in respect of its securities or any other financial products and is not licensed to do so.
You should carefully read the whole of this Prospectus and consider all of the risk factors that could affect the performance of the Options or underlying Shares or the Company in light of your own particular objectives, financial situation and needs before deciding whether to exercise the Options. If you have any questions, you should contact your financial or other professional adviser for advice. Some of the risk factors that you should consider are set out in section 6 of this Prospectus. There may be additional risk factors in addition to these that should be considered in light of your personal circumstances.
This Prospectus is only relevant for investors with respect to the Options and should not be used for any other purpose.
No representations other than this Prospectus
No person is authorised to give any information or to make any representation in connection with the Bonus Issue which is not contained in this Prospectus. You should rely only on information in this Prospectus. Any information or representation that is not in this Prospectus may not be relied on as having been authorised by the Company in connection with the Bonus Issue. The Company's business, financial condition, results of operations and prospects may have changed since the date of this Prospectus.
Restrictions on distribution
This Prospectus does not constitute an offer, invitation or issue in any place in which, or to any person to whom, it would not be lawful to make such offer, invitation or issue. No action has been taken to register or qualify the Options in any jurisdictions outside Australia. The distribution of this Prospectus in jurisdictions outside Australia may be restricted by law and persons who come into possession of
3
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Magellan Financial Group Limited published this content on 30 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 March 2022 00:15:02 UTC.