Listed Managed Investments - VGI & Regal Seal the Deal

Claire Aitchison

Independent Investment Research

In this edition of the IIR LMI monthly update, we take a look at the key news for the sector in May as well as provide the key data points as of April 30th, 2022.

Some of the key news items include:

  • VGI shareholders vote in favour of merger With Regal - At the VGI Partners Limited (ASX: VGI) AGM, shareholders voted in favour of the merger between VGI and Regal Funds Management. The merger is expected to be finalised in early June. Upon its completion, VGI is expected to change its name to Regal Partners Limited and the ticker will change to RPL.
  • WHF reports a 55.8% lift in full-year incomes - Whitefield Limited (ASX: WHF)'s full-year results demonstrated a strong uplift in Investment Income, up 55% to $19.87m. Net profit increased 71.0% on the PCP to $16.8 million. The Company maintained the final dividend at a fully franked 10.25c/share. This takes the total full-year dividend to 20.5c/share, fully franked. The DRP and BSP will be available for use with the dividend declared for ordinary shares. 
  • MXT seeks to raise up to $235.6 million through wholesale placement - Metrics Master Income Trust (ASX: MXT) announced a Wholesale Investor Placement on 30 May 2022. MXT is seeking to raise up to $235.6 million at $2.00 per unit. The new units are being issued under the Trust’s available placement capacity and therefore do not require unitholder approval. New units issued are expected to commence trading on 8 June 2022. In the event the placement is fully subscribed, MXT will have 903.3m units on issue.
  • BTI pockets $118 million from the sale of Instaclustr - The net cash proceeds represent a return of 14.2x on BTI’s investment. As a result of the large cash inflow, the company has announced the implementation of a regular dividend policy, which will see the payment of a semi-annual dividend for the foreseeable future.
  • Mike Baird to become chairman of Future Generation Australia - Future Generation Australia Limited (ASX: FGX) announced that Mike Baird will join the board of directors as Chairman, effective 31 July 2022. Mr. Baird will be taking over from Jonathan Trollip, who is retiring from the board after being the Chairman of FGX since its inception in 2014.

 

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The views here are not recommendations and should not be considered as investment advice.

Claire Aitchison
Head of Equities & Funds Research
Independent Investment Research
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