The Magellan Global Trust priority offer is only applicable to existing shareholders of Magellan “Eligible Vehicles”, consisting of Magellan Financial Group (MFG), Magellan Global Equities Fund (MHG) and Magellan Infrastructure Fund (MICH).
The Magellan Global Trust provides investors with an opportunity to invest in an ASX listed investment trust.
The Trust will invest in high quality global equities, aiming to deliver investors a Target Cash Distribution yield of 4% per annum. After successful capital raising, the Trust will apply for Units allotted under the Offer to be listed on the ASX.
The Priority Offer is open to any person who has a registered address in Australia or New Zealand and who, as at 5.00pm (Sydney time) on 1 August 2017, was a direct or indirect holder or investor in any "eligible vehicle".
Priority Applicants are able to subscribe for a lower number of Units than the number for which they have been invited to subscribe. However, all Applicants must subscribe for a minimum of 1,500 Units ($2,250) to participate in the Offer.
Priority Applicants who wish to subscribe for Units in excess of the number of Units for which they have been invited to subscribe will need to apply for Units under the General Public Offer.
Priority Applicants may be eligible to receive a number of additional units, being Loyalty Units (rounded down to the nearest whole unit), equivalent to 6.25% of the number of units allotted under the priority offer. Magellan reserves the right to scale back Applications under the Priority Offer at its discretion.
Priority Applicants need to be a unitholder (either directly as a Unitholder or indirectly via the Intermediary through which they were allotted Units) in the Trust on the Loyalty Unit Determination Date on 11 December 2017 in order to receive Loyalty Units.
Priority Applicants who, on this date, hold at least the same number of Units allotted to them under the Priority Offer will receive 100% of their Loyalty Units.
Priority Applicants who, on this date, hold a lower number of Units than allotted to them under the Priority Offer will receive a number of Loyalty Units which is proportionally lower (rounded down to the nearest whole Unit) than the amount they may have received had they held at least the same number of Units allotted to them.
Priority Applicants who, on this date, do not hold any Units will not receive Loyalty Units.
|Key Offer Statistics|
|Issuer||Magellan Asset Management Limited|
|Proposed ASX code||MGG|
|Application Price per Unit||$1.50|
|Minimum Subscription Amount for each Application||1,500 Units ($2,250)|
|Key dates for the Offer*|
|Offer Opens||29 August 2017|
|General Public Offer Closes||22 September 2017|
|Priority Offer Closes||29 September 2017|
|Trading of Units commences on ASX (on a normal settlement basis)||18 October 2017|
|Loyalty Units Determination Date||11 December 2017|
|Loyalty Units Issue Date||15 January 2018|
* The above timetable is indicative only. Magellan reserves the right to vary the dates and times set out above subject to the Corporations Act and other applicable law. In particular, Magellan reserves the right to close the Offer early, extend the Closing Date or accept late Applications without notifying any recipients of the PDS of any Applications. Investors who wish to submit an Application are encouraged to do so as soon as practicable after the Offer opens.
The Offer Product Disclosure Statement (“PDS”) contains important information about the offer and you should read it carefully before deciding whether or not to participate in the Offer.
For further information regarding the offer please visit www.magellanglobaltrust.com.au or call the Magellan Global Trust Offer Information line on 1300 032 754 between 8:30am and 5:00pm (Sydney time) Monday to Friday.
Contact our Client Services team to confirm the number of units you wish to apply for in the priority offer by 12pm, Friday 29 September 2017 for us to accept the offer on your behalf.
T: 1300 303 888
Upon settlement funds will be deducted from your linked cash account to pay for the allocation. If you have insufficient funds in your account your application will be void. Units in Magellan Global Trust along with any Loyalty Units will be allocated to your HIN directly