Platinum Asia Investments (PAI) has announced that L1 Capital and its associates do not plan to acquire any additional shares before the upcoming scheme meeting scheduled for August 12. The meeting is crucial as shareholders will vote on a proposal to restructure PAI into an exchange-traded fund (ETF) structure through a scheme of arrangement. Platinum Asia Investments focuses on identifying and investing in undervalued companies within the Asian region, excluding Japan. It aims to provide investors with long-term capital growth by leveraging Platinum Asset Management’s expertise in Asian markets.
The proposed restructure would see existing PAI shares exchanged for units in the Platinum Asia Fund Complex ETF. This move is designed to provide investors with a more accessible and potentially liquid investment vehicle. The scheme meeting represents a pivotal moment for PAI, as the outcome will determine the future structure and accessibility of the fund.
Shareholders are encouraged to review the scheme documents and cast their votes in accordance with the instructions provided. The successful implementation of the scheme is contingent upon shareholder approval and the satisfaction of other customary conditions. Further details regarding the scheme and the voting process can be found in the official scheme documents distributed to shareholders.
