By - Sonal Goyal
Highlights
- VGI Partners has acquired 100% shares of Regal Funds to become Regal Partners Limited.
- The new ticker code of Regal Partners Limited is RPL.
- Brendan O’Connor is the new CEO and managing director of Regal Partners Limited.
On Monday morning, VGI Partners Limited (ASX:VGI) shared that it is now officially Regal Partners Limited. The company has successfully merged with Regal Funds Management Pty Ltd. With the completion of the merger, VGI Partners has requested ASX to change its ticker code from VGI to RPL.
Australia’s most recognised hedge fund managers are now one! The merged entity is expected to become a market leader in alternative investment strategies provider.
The merger has been completed as per the merger implementation deed terms, shared on 30 March 2022. VGI has acquired 100% shares of Regal. In consideration, 141,008,460 new ordinary shares have been issued to the shareholders of Regal.
Regal is the alternative investment manager of ASX-listed firm, Regal Investment Fund (ASX:RF1). According to the ASX-announcement released by RF1, Regal confirmed that the merger transaction has no effect on its provision of management services to RF1.
VGI was spotted trading at AU$4.050 per share, 0.977% down, with a market capitalisation of AU$865.08 million, at 10:45 AM AEST.
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Image source: © Alphaspirit | Megapixl.com
Reportedly, Darren Steinberg and Benjamin Pronk, have resigned from their position as directors in VGI Partners. The resignation also came from the current executive chairman and director, Robert Luciano. However, Robert will continue to work as a chief investment officer for the investment team of VGI Partners within the broader group.
Michael Cole, Sarah Dulhunty and Ian Gibson are the new directors of the merged entity. Michael Cole will take responsibility as independent Chair, Sarah Dulhunty as an independent non-executive director and Ian Gibson as executive director.
The executive director of VGI Partners, David Jones, will sit as a non-executive director of Regal Partners.
Ian Cameron, the current company secretary will continue as a joint company secretary. Cameron will be accompanied by the new joint company secretary – Kathleen Liu.
Brendan O’Connor is the chief executive officer and managing director of Regal Partners. Brendan was the CEO of Regal Funds. He carries the experience of 25 years in asset management and financial markets.
Brendan is a director of Kilter Pty Ltd, Attunga Capital Pty Ltd and Gresham Royalties Management Pty Ltd.