ABW General Meeting Request

Aurora Funds Management Limited (Aurora), in its capacity as the responsible entity of the Aurora Absolute Return Fund (ABW or Fund), hereby announces that today it received in the post a Notice of Meeting and Explanatory Memorandum (Materials) from Primary Securities Limited (Primary) for a general meeting (Meeting) of unitholders to consider a number resolution’s in relation to the Fund, including:

1. Amendments to the Fund’s Constitution – Special Resolution;

2. Removal of Aurora as Responsible Entity – Ordinary Resolution;

3. Appointment of Primary as Responsible Entity – Ordinary Resolution; and

4. Winding up of the Fund – Extraordinary Resolution.

Aurora is currently reviewing the Meeting Materials, however it notes the following:

▪ The Materials refer to members holding more than 5% of ABW, however, the identity of those members has not been disclosed. Aurora is therefore unclear on who has called the Meeting and questions why the Materials omitted this important information; and

▪ Based on the Materials provided, the proposed date for the unitholder meeting, being 15 January 2019, does not appear to satisfy the notice period requirements for holding a unitholder meeting, in contravention of the Corporations Act.

The Board of Aurora is still considering the validity of the Meeting and Materials and will update the market shortly. In the meantime, Aurora recommends that unitholders take no action at this time.

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