There were always two offers/issues in play that ran in parallel with different features. They were both dependent on the restructure occurring. The explanatory memorandum issued on 21 October set out the details.
The "partnership offer" is what has been primarily described above and required holders to choose to subscribe for additional units to receive the additional units + the options that came from this offer. This required a decision to participate and a payment of monies by the holder.
The "bonus offer" was more simple in that all holders were going to be issued with 1 option for every 2 units that they held as at 26 February 2021. These options issued are in addition to any options issued under the "partnership offer". This required no decision on the part of the holders and no payment of monies by the holder. They are simply granted to eligible holders in MGF "for free" (paid for by Magellan Group). Receiving these options was not dependent on whether or not you chose to participate in the "partnership offer".
There was a fair bit going on with all of this when they issued the original letter and notices to unitholders.
Does this clarify?
There were always two offers/issues in play that ran in parallel...
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Last
$9.55 |
Change
0.035(0.37%) |
Mkt cap ! $1.720B | |||
| Open | High | Low | Value | Volume |
| $9.68 | $9.72 | $9.44 | $4.512M | 472.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 26 | 3084 | $9.54 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $9.55 | 1171 | 15 |
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