Brief: Arc Funds Entered Binding Agreement To Acquire 25% Of Issued Share Capital Of Magnum Funds Management

Arc Funds

03/11/2021 01:58

Nov 3 (Reuters) - Arc Funds Ltd  ARC.AX :
    * ENTERED BINDING AGREEMENT TO ACQUIRE 25% OF ISSUED SHARE
CAPITAL
OF MAGNUM FUNDS MANAGEMENT
    * MAGNUM FIXED INCOME FUND IS INTENDED TO BE ESTABLISHED AND
LISTED ON CHI-X EXCHANGE IN EARLY CY22
    * MAGNUM HOLDINGS WILL BE RESPONSIBLE FOR FUNDING COSTS OF
INVESTMENT TEAM UP UNTIL MAGNUM FIXED INCOME FUND SURPASSES
A$32.5M OF FUM
    * COMMITTED TO INVESTING MINIMUM OF A$200,000 TO BE UTILISED
FOR
DISTRIBUTION & MARKETING FOR MAGNUM FIXED INCOME FUND OVER NEXT
2 YEARS

Source text for Eikon:  ID:nASX9pXFyD 
Further company coverage:  ARC.AX 

 ((Reuters.Briefs@thomsonreuters.com;))