PGF - PM Capital Global Opportunities Fund

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The PM Capital Global Opportunities Fund Limited (PGF) is intended to provide investors with an opportunity to invest in global equities via an ASX listed investment company.

The aim is to provide long-term capital growth by investing in a concentrated portfolio of undervalued global (including Australian) equities and other investment securities.

http://pgf.pmcapital.com.au/aboutus.htm

 

[Dona Ferentes]

Announced 16 Sept: Merger Between: PM Capital Global Opportunities Fund Limited (ASX: PGF); and PM Capital Asian Opportunities Fund Limited (ASX: PAF)

Key Highlights:
• PGF and PAF have entered into a Scheme Implementation Deed to merge the entities. • PAF shareholders will be offered PGF Shares as consideration.
• The Number of PGF shares proposed to be exchanged for each PAF share will based on PAF’s NTA per share divided by PGF’s NTA per share on the date the merger becomes effective.
• Implied offer value based on most recently published NTAs as at 10 September 2021 represents a:
o 23.8% premium to PAF’s closing price immediately prior to this announcement; and
o 24.3% premium to PAF’s 3 month VWAP.

And today: WAM Capital, one of the largest listed investment companies on the ASX, has bid for PM Capital’s Asian Opportunities LIC in a move that threatens to break up a proposed merger with a separate PM Capital portfolio.

WAM Capital, which has $2 billion in assets, has offered a sweetened bid for the Asia-focused PM Capital LIC, which had $54.9 million in assets at the start of the month.