Brief: Magellan Financial Announces Purchase Of Options Over Closed Class Units In Magellan Global Fund

Magellan Financial

07/12/2023 01:04

Dec 7 (Reuters) - Magellan Financial Group Ltd  MFG.AX :
    * PURCHASE OF OPTIONS OVER CLOSED CLASS UNITS IN MAGELLAN
GLOBAL
FUND
    * UNDER EQUITY COMMITMENT DEED, COMMITTED TO FUND 7.5% OF
OPTION
EXERCISE PRICE THROUGH TO EXPIRY OF OPTIONS ON 1 MARCH 2024
    * AS AT 30 JUNE, FINANCIAL LIABILITY FROM POTENTIAL EXERCISE
OF
OPTIONS WAS ABOUT A$160 MILLION
    * AS CONSEQUENCE OF COMMITMENT, RECOGNISED FINANCIAL
LIABILITY FOR
MAXAMOUNT IT MAY BE OBLIGED TO FUND IF AL OPTIONS WERE EXERCISED
    * MFG WILL ACQUIRE UP TO 500 MILLION OUTSTANDING OPTIONS AT
A
PRICE OF 10 AU CENTS PER OPTION

Source text for Eikon:  ID:nASXccKWQ3 
Further company coverage:  MFG.AX 

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