- Significant benefits to flow from the merger of two strongly aligned investment managers with significant cost and revenue synergy potential
- Hunter Hall Directors unanimously recommend the merger
- Independent Expert concludes that the transaction is fair and reasonable to non-associated shareholders
- Independent Expert indicates the merged group to be valued between $3.00 and $3.50 per share, the mid-point of which represents a 29% premium to the last close price of Hunter Hall shares on 1 May 2017
Hunter Hall International Limited (ASX: HHL, or “Hunter Hall”) today announces the details for the General Meeting of Hunter Hall shareholders to consider the proposed merger between Hunter Hall and Pengana Capital Holdings Pty Ltd (“Pengana”), which will be held on Thursday 1st June this year.
Board Recommendation
The proposed merger has the potential to deliver significant strength to the existing Hunter Hall business, superior value for our shareholders and a more diverse offering of investment options for our investors, compared to continuing as a stand-alone business.
The Directors of Hunter Hall unanimously recommend that Hunter Hall shareholders vote in favour of the required resolutions to approve the proposed merger. The Board’s recommendation is subject only to the absence of a superior proposal or the independent expert ceasing to conclude that the proposed merger is fair and reasonable to non-associated Hunter Hall shareholders.
Each of the Directors of Hunter Hall intends to vote all Hunter Hall shares held or controlled by them in favour of the resolutions to be considered at the General Meeting on June 1st this year.
Please see attached ASX release and view Explanatory Memorandum here: http://www.asx.com.au/asxpdf/20170502/pdf/43hylh42yd6mkn.pdf
