MFG magellan financial group limited

0.61%

$9.91

I think it was slightly more complex--the actual wording 'one...

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Nic67

3 Posts.

26/02/21

14:28

Post #: 51364101
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Originally posted by KerrodT: ↑

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?

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I think it was slightly more complex--the actual wording 'one bonus option for every 2 closed units you hold as at 26 February 2021 UNDER THE BONUS MGF OPTION ISSUE". (EMPHASIS ADDED). This seems to me you only get the additional bonus options calculated on the basis of what you subscribed for in the scheme.
It also seems to me this discount is putting a low ceiling on MGF closed for some time to detriment of MGF closed and no encouragement to invest in it!

Discl. Hold primarily MGF open and smaller amount MGF closed

MFG Price at posting: $43.96 Sentiment: Hold Disclosure: Held
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(20min delay)
Last $9.91		Change 0.060(0.61%)		Mkt cap ! $1.704B

Open	High	Low	Value	Volume
$9.89	$9.96	$9.82	$3.859M	390.0K

Buyers (Bids)

No.	Vol.	Price($)
1	4	$9.88

Sellers (Offers)

Price($)	Vol.	No.
$9.91	8852	2

View Market Depth

No.	Vol.	Price($)
1	2036	9.810
1	2359	9.800
1	512	9.760
3	730	9.660
1	345	9.620

Price($)	Vol.	No.
9.910	4999	1
9.920	3500	1
9.960	5567	3
9.970	1000	1
9.980	6500	3

Last trade - 16.10pm 18/07/2025 (20 minute delay)

MFG (ASX) Chart

I think it was slightly more complex--the actual wording 'one...

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I think it was slightly more complex--the actual wording 'one...

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