- Dated 06/12/2018 – Voting Results of the HHY Fund Unitholder Meeting
Aurora Funds Management Limited (Aurora), in its capacity as responsible entity for the HHY Fund, hereby advises that the resolution proposed by Wilson Asset Management (International) Pty Ltd (WAMI) and its related entities, to wind up the HHY Fund, was not passed at today’s meeting of unitholders.
A total of 25,044,025 valid votes were received in support of the proposed resolution, representing 30.76% of total eligible votes of 81,403,538. As this was an extraordinary resolution, requiring more than 50% of total eligible votes in order to pass, the resolution failed.
Aurora would like to thank its loyal unitholders for their continued support.
- Dated 20/10/2017 – Units to be Issued AIB to HHY Fund Unitholders
Further to the announcement lodged on 16 October 2017, the Bid by AIB for units in HHY closed at 7:00pm (Melbourne time) on 13 October 2017.
Under the terms of the Bid contained in the 18 November 2016 Bidder’s Statement (“Bidder’s Statement”), the number of AIB units issued is calculated based on the respective Net Asset Values (“NAVs”) of HHY and AIB on the 20th of the month prior to the closing date (i.e. 20 September 2017).
Based on the NAVs on 20 September 2017 and the terms of the Bidder’s Statement, each HHY unitholder that accepted the Bid will be issued 0.2028233 AIB Units1 for each HHY unit.
Accepting HHY unitholders should note that the final price for AIB on 30 September 2017 was $0.6160 (exDistribution) per unit. Daily estimated NTA announcements are made by AIB on the ASX for unitholder’s information.
1. If the total number of units calculated to be issued to you results in proportion of a unit, then that unit will be rounded to the nearest whole number in accordance with AIB’s constitution.
- Dated 26/04/2017 – Appointment of Chief Operating Officer
Aurora Funds Management Limited is pleased to announce it has expanded its management team with the appointment of Mr Ben Norman to the role of Chief Operating Officer, effective 26 April 2017.
Ben is a qualified Chartered Accountant, with over 16 years of professional and industry experience. Prior to joining Aurora, Ben was a Director in Ernst & Young’s Transaction Advisory Services division, where he spent over 9 years working on numerous due diligence, performance improvement, restructuring, turnaround, financial modelling and transaction integration engagements with clients in all industry sectors. While working with Ernst & Young, Ben also performed extended secondments with global financier GE Capital in a senior risk and compliance role and with ASX listed Origin Energy Limited as a finance manager in Origin’s upstream business.
Prior to joining Ernst & Young, Ben held a senior finance position with gas transmission business Epic Energy (which was owned by the ASX listed Hastings Diversified Utilities Fund, backed by Westpac Banking Corporation) where he was responsible for overall financial control and compliance.
Managing Director, John Patton, commented, “we are delighted to have secured the services of a very senior and experienced industry professional to Aurora’s management team. Ben Norman’s extensive professional and industry experience will be a valuable addition to Aurora’s capabilities”.
In light of the changes that have taken place within the business, Aurora has decided to update and refresh its Product Disclosure Statement (PDS). Pending this review being finalized, Aurora has withdrawn its PDS for new retail applications, however all existing terms will continue to apply save as varied in accordance with the terms of the PDS. Upon the lodgment of an updated PDS, the fund will then accept applications from new retail investors.
- Dated 09/12/2016 – Voting Results of the HHY Fund Unitholder Meeting
Aurora Funds Management Limited (Aurora) is pleased to announce the outcome of the meeting held on 6th December 2016, which was subsequently adjourned to 9 December 2016, whereby investors opposed all of the resolutions proposed by Wilson Asset Management (Wilson). Accordingly, Aurora will continue to act as the Responsible Entity (RE) of the HHY Fund (HHY).
The meeting had been adjourned due to a challenge by Wilson against the legal validity of online voting. After considering the matter, the independent Chairman determined to accept the online votes. Details of the resolutions and the proxies received in respect of each resolution considered at the Meeting are set out in the attached proxy summary.
- Dated 29/09/2016 – Chairman’s Address
In accordance with Listing Rule 3.13.3, attached is the prepared address to be given by the Chairman of the General Meeting of HHY Fund Unitholders to be held at 11am today. Read more here.
- Dated 27/09/2016 – Chairman Notification
John Malon, principal of Hive Legal, has been appointed by Aurora as Chairman of the Meeting for the HHY Fund meeting to be held on Thursday 29 September 2016
- Dated 15/09/2016 – Explanatory Memorandum
This Explanatory Memorandum has been issued by Aurora Funds Management Limited (ACN 092 626 885) (Aurora), as responsible entity of the HHY Fund (ARSN 112 579 129) (HHY), in relation to a meeting called by Wilson Asset Management (International) Pty Limited and its related entities (WAME) pursuant to section 252B of
the Corporations Act to consider resolutions concerning the winding up of HHY and the removal of Aurora as the responsible entity of HHY.
The directors of the Responsible Entity unanimously recommend that
you vote AGAINST all of the resolutions
Read more here.
- Dated 25/08/2016 – Notice of Meeting
Aurora recommends HHY Unit Holders take no action in respect of the Meeting prior to receiving the Explanatory Memorandum, which will be posted to the registered address of each HHY Unit Holder and announced to the ASX.
Read more here.
- Dated 3/3/2016 – Antares Energy Convertible Notes (ASX: AZZG)
Aurora Funds Management Limited (“Aurora”) as Responsible Entity and Investment Manager of the HHY Fund (“the Fund”) announces that as at 31 January 2016, the Fund held (and continues to hold) a position in Antares Energy Convertible Notes (ASX: AZZG). The size of the position at this date was 0.88% of the Net Tangible Assets
of the Fund.
The AZZG are currently suspended from trading and this notice is to advise HHY investors of our exposure to the notes. At less than 1% of NTA we believe this position is not material. We will continue to provide monthly NTA reports for the HHY Fund and additional information on any material investments in due course through ASX announcements.
- Dated 20/7/2015 – Change in investment strategy
From 19 August 2015, the investment strategies will include the ability to invest in listed Australian and international equities, unlisted Australian and international securities, options, convertible securities, and other derivative securities. Aurora may also reduce part of the equity market exposure by short selling securities, or using appropriate levels of interest rate or currency hedging to limit exposures to fluctuations in these markets without sacrificing long-term investment performance. The Fund may also use borrowings to increase its levels of investment into the enhanced investment strategy.