Brief: Elanor Investors Group Says Forecast 2H23 Core Earnings Of A$2.1 Million

Elanor Investors

26/06/2023 04:23

June 26 (Reuters) - Elanor Investors Group  ENN.AX :
    * FORECAST 2H23 CORE EARNINGS OF A$2.1 MILLION, OR 1.7 CENTS
PER
SECURITY
    * FORECAST 2H23 DISTRIBUTION RANGE OF 1.4 AU CENTS TO 1.6 AU
CENTS
PER SECURITY
    * ACQUISITION OF CHALLENGER REAL ESTATE FUNDS MANAGEMENT
BUSINESS
FOR A$37.7 MILLION
    * CHALLENGER TO HOLD A 13.7% INTEREST, ABU DHABI INVESTMENT
COUNCIL P.J.S.C. TO HOLD A 3.0% INTEREST IN CO
    * AFTER DEAL, FUNDS UNDER MANAGEMENT INCREASED TO A$6.4
BILLION
FROM A$3.0 BILLION
    * WILL GRANT ADIC OPTIONS TO ACQUIRE UP TO 7.5 MILLION
ELANOR
SECURITIES
    * ELANOR CONTINUES TO PURSUE STRATEGIC ACQUISITION
OPPORTUNITIES
TO GROW FUNDS UNDER MANAGEMENT
    * TRANSACTION FORECAST TO DELIVER INCREMENTAL ANNUALISED
BASE
MANAGEMENT FEES OF A$16.1 MILLION
    * SECURED ADIC MANDATE AND GRANT OF OPTIONS FOR ADIC TO
ACQUIRE A
FURTHER 7.5 MILLION ENN SECURITIES
    * ADIC'S INTEREST IN ELANOR WILL INCREASE TO 7.7% IF ALL
OPTIONS
VESTED & EXERCISED

Source text for Eikon:  ID:nASX1pgfkV 
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