LETTER FROM THE MANAGER
30 August 2018
Dear Forager Australian Shares Fund Investor,
PRO-RATA NON-RENOUNCEABLE RIGHTS ISSUE
As the Investment Manager of the listed Forager Australian Shares Fund (FOR or Fund), I am pleased to announce a rights offer to FOR investors.
The Trust Company (RE Services) Limited (Responsible Entity or Perpetual) in its capacity as the responsible entity for the Fund is undertaking a 1 for 6 pro-rata non-renounceable rights issue offer (Offer). Eligible investors may also apply for additional units.
Since Forager started the Fund in October 2009, we have indicated that the investment strategy’s natural capacity limit is $200m. When the Fund was listed in December 2016 we reconfirmed this limit and today continue to believe this is the case.
Currently FOR has $156m in funds under management. If the additional funds are raised, the Fund will be well capitalised to take advantage of opportunities but will sit comfortably below the $200m limit.
Please read the Offer Document. If you have any questions please contact the Forager Australian Shares Fund Offer Information Line on 1800 132 875 (within Australia) or +61 1800 132 875 (from outside Australia). Alternatively, please feel free to call Forager on 02 8305 6050.
Thank you for your ongoing support and interest.
Chief Investment Officer and Director
Forager Funds Management
|Notice to Unitholders setting out Appendix 3B information and timetable||Thursday 30 August 2018|
|Last day FOR units trade with entitlement||Friday 31 August 2018|
|Offer Opening Date||Thursday 6 September 2018|
|Offer Closing Date||Friday 21 September 2018 (5.00pm Sydney time)|
|Allotment date of New Units||Friday 28 September 2018|
|Despatch of New Units holding statements||Friday 28 September 2018|
|Commencement of trading of New Units on ASX:||Monday 1 October 2018|
Please download the information booklet available on this page but for further information regarding the offer you can contact the following numbers:
Forager Australian Shares Fund Offer Information Line:
1800 132 875
Forager Funds Management:
02 8305 6050