AZZ Opinions, page-59

Very interesting article @pblawley

My thoughts are that the Aurora Absolute Return Fund (Fund) are okay.

The Fund assumed that there was a transaction being negotiated by AZZ (as per AZZ's communication to the market) and that there was therefore no risk to noteholders as they would be paid on time following proceeds from sale. The Fund saw no reason to freeze unitholders from redemptions and applications as it believed the transaction would complete prior to 31st March.

However, as at 29 Feb, having not heard any further updates on the transaction from AZZ and on assessing the AZZ balance sheet realised there is a risk that AZZ noteholders may not be paid. As such, they implemented the freeze on redemptions and applications to unitholders (after having given AZZ the benefit to the end of February to show some progress on the transaction / indication that a sale was imminent)

Not sure there is anything that the Fund needs to answer to.

The Fund will want payment come 31st March.
If the Fund is questioned as to why they didn't implement the freeze earlier (ironically by ASIC), they will likely deflect this to the AZZ announcements that indicated a transaction was imminent.

****'s about to get real.

The good thing for us is because it involves all these different parties, we should get all our questions finally answered.