Ann: Change in substantial holding, page-5

This should give some investors that are concerned about the share price a little comfort. L1 have an excellent reputation and investing track record. You can also buy on market below the raise price if you so wish.


L1 Capital

L1 Capital is a global investment manager with offices in Melbourne, Sydney, Miami and London. The business was established in 2007 and is owned by its senior staff, led by founders Raphael Lamm and Mark Landau. It been designed to be as closely aligned with investors as possible through the founders and investment team investing significant personal wealth and a portion of all staff’s bonuses in L1 Capital Strategies. The team manages over $5 billion across long short Australian equities, international equities, activist equities, a global multi-strategy hedge strategy and U.K. residential property. The firm has established a reputation for investment excellence and contrarian, long-term investing.

The investment process is built upon detailed, fundamental, bottom-up research, combining valuation with qualitative considerations to identify attractive investment opportunities. Markets continually present opportunities to the investment team who are unemotional and long term in their assessment of business potential. Their intensive visitation schedule with a wide variety of stakeholders provide a more complete perspective on a company’s prospects.

Third Link Growth Fund invests with L1 Capital for its Australian equity expertise via the L1 Capital Catalyst Fund.