Magellan Global Trust Unit Purchase Plan

Magellan is pleased to announce the Unit Purchase Plan (the "Offer") for the Magellan Global Trust is now open and is expected to close on 6 March 2019.

 

Overview of the Offer

The Offer is an opportunity for eligible Magellan Global Trust unitholders (defined below) to subscribe for up to A$15,000 of Magellan Global Trust units at a 5% discount to net asset value (“NAV”) per unit without incurring any brokerage costs, on the terms and conditions of the Offer.

New Units issued under the Offer will be eligible to receive the distribution of $0.03 per unit for the six months ending 30 June 2019.

To minimise dilution, Magellan Financial Group Limited, the parent company of Magellan, will pay Magellan Global Trust an amount of consideration equal to the cost of the 5% discount to the NAV per unit from which the offer price under the Offer is determined (as described below).

 
Key Information

Security

Magellan Global Trust (ASX: MGG)

Offer price

The offer price under the Offer will be the lower of:

  • $1.5327 (representing a 5% discount to the Magellan Global Trust’s NAV per unit on 28 January 2019); and
  • The price which represents a 5% discount to the Magellan Global Trust’s NAV per unit on the day the Offer closes

Therefore, the maximum price under the Offer will be $1.5327.

Eligible Unitholder

Magellan Global Trust unitholders who as at 7.00pm (Sydney time) on Friday, 25 January 2019 were registered holders of Magellan Global Trust units and whose address on the unit register is in Australia or New Zealand.

The Offer is also open to Eligible Unitholders who are custodians to participate in the Offer on behalf of certain beneficiaries on the terms and conditions of the Offer.

Application amounts

Eligible Unitholders can apply for A$5,000, A$10,000 or A$15,000 of Magellan Global Trust units under the Offer, with A$15,000 being the maximum amount that can be taken up under the Offer across all holdings in the same registered name.  

How to Apply

Eligible Unitholders who are invested in the Magellan Global Trust directly as a registered unitholder have been sent an Offer Booklet outlining the terms and conditions of the Offer and personalised Application Form. To apply under the Offer, these Eligible Unitholders can either:

Option 1: Pay by BPAY 
Make payment by BPAY as shown on the personalised Application Form
Payment by BPAY doe
s not require the Application Form to be returned 

Option 2: Pay by cheque, bank draft or money order 
Eligible Unitholders can complete and return the personalised Application Form together with a cheque, bank draft or money orde

Unitholders who were invested in the Magellan Global Trust on 25 January 2019 indirectly as a beneficial unitholder through an Intermediary (Custodian, Nominee or Platform) may be able to participate in the Offer subject to complying with the terms and conditions of the Offer. Please contact the appropriate Intermediary to participate.

 

Offer timetable

25 January 2019

Record date

29 January 2019

Announcement of Offer

6 February 2019

Offer opens

6 February 2019

Offer Booklet and Application Form mailed to Eligible Unitholders

6 March 2019

Offer closes

13 March 2019

Expected Allotment of new units

14 March 2019

Expected Despatch of Holding Statements

 

Further information

For further information, please see the links below:

If you have any questions, please contact Magellan Global Trust’s Unit Registry on 1300 737 760 (within Australia) or +61 2 9290 9600 (outside Australia) or a member of Magellan’s Distribution team.

More information about Magellan Global Trust