Aurora Funds Management Limited (Aurora) holds, as responsible entity for the Aurora Fortitude Absolute Return Fund (AFARF) and the Aurora Global Income Trust (AIB), convertible notes (AZZG) issued by Antares Energy Limited (Antares). Aurora makes the following announcement as responsible entity for AIB and Aurora Absolute Return Fund (ABW) (which is fully invested in units in AFARF).
As holder of a significant parcel of AZZG, Aurora has received a notice of meeting of creditors of Antares issued by the Administrators of Antares, FTI Consulting.
A copy of the materials received is enclosed. Readers should note and observe the limitations set out in paragraph 1.5 of the Administrator’s Report to Creditors pursuant to section 439A of the Corporations Act 2001(Report). Those limitations restrict the use of the information contained in the report and the reliance that may be placed on that information. Notwithstanding the limitations placed on the use and reliance of the report, Aurora considers that this is information that should be released pursuant to ASX Listing Rule 3.1.
Having considered the material set out in the Report, Aurora:
1. Considers that the potential outcomes for creditors specified in the Report fully justify the approach taken by Aurora in writing down the carrying value of its investment in AZZG to zero (carried out in connection with the preparation of the 30 June 2016 accounts of AIB, AFARF and ABW).
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