Contango Capital Partners preparing for restructure
Contango Capital Partners is preparing for a restructure of the company. Contango holds a 64 per cent stake in boutique fund manager Olympus Funds Management.
The directors of the company will hold a general meeting to propose a restructure of the company to its shareholders before the end of May this year. The proposal will involve the immediate return of 30 cents per share to shareholders, a restructure of the existing management agreement and a company name change.
A proposed general meeting to submit the restructure proposal during March was postponed.
Contango advised the Australian Securities Exchange in February that it was planning to sell down its investment portfolio to address the discount between the share price of its net tangible assets and its trading share price.
Recommended for you
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With wealth management M&A appetite only growing stronger, Business Health has outlined the major considerations for buyers and sellers to prevent unintended misalignment between the parties.
Industry body SIAA has said the falling number of financial advisers in Australia is a key issue impacting the attractiveness and investor participation of both public and private markets.
