News: SEK Seek Ltd Announces Creation Of Independent Unit Trust

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    Aug 11 (Reuters) - Seek Ltd (SEK) :

    • ANNOUNCES CREATION OF AN INDEPENDENT UNIT TRUST, TO BE KNOWN AS SEEK GROWTH FUND
    • ANNOUNCES FORMATION OF A NEW MANAGEMENT CO TO BE LED BY ANDREW BASSAT
    • TO TRANSFER TO FUND CO'S HOLDINGS IN ONLINE EDUCATION SERVICES AND 14 EARLY STAGE VENTURES
    • ANNOUNCES RAISING OF FURTHER A$460M BY FUND FOR FUTURE INVESTMENTS, CONSISTING FURTHER A$200M INVESTMENT BY SEEK AND A$260M FROM OTHER INVESTORS
    • FUND WILL OPERATE INDEPENDENTLY OF SEEK
    • ONCE FUND DRAWS DOWN ALL CAPITAL COMMITTED IN FIRST CAPITAL RAISE, SEEK EXPECTED TO OWN 84.5% OF FUND
 
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