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Notice
This Notice is being issued to provide Participants with further information in relation to the bid and details the acceptance process through CHESS.
What do I need to do by when?
Bid Details:
Bidder: |
Aurora Funds Management Limited as responsible entity of Aurora Global Income Trust |
|---|---|
UIC: |
11437 |
Registry/Agent: |
Registry Direct |
Target Issuer: |
Hastings High Yield Fund |
Target ASX Code: |
HHY |
Takeover Code/Consideration |
HHY001 – Investors will receive AIB Units for each of their HHY Units at a ratio calculated to reflect the full Net Asset Value of their HHY Units as at the Calculation Date, as set out in Section 12.5 of the Bidder’s Statement. |
Offer Terms:
Offer Open Date: |
28 November 2016 |
|---|---|
Offer Close Date: |
7:00pm (AEDT time) on Monday, 30 January 2017 (unless extended or withdrawn) |
CHESS will process acceptance messages until 7:00pm (AEDT time) on Monday, 30 January 2017 or in the event that the bid is extended, such other time as may be notified by Aurora to the market.
The Aurora bid is unconditional and a shareholder may only accept the offer in relation to all of their HHY Units held at the time the acceptance is processed.
For further information regarding the Offer please contact AIB Offer Information Line on 1300 555 159 (within Australia) or +61 3 9909 9909 (outside of Australia) between 9.00am and 5.00pm (AEDT) Monday to Friday.
Need more information?
Issued by
Cheng Zhang, Senior Officer, Post Trade Operations
Contact information
Cheng Zhang
1800 623 571
cad@asx.com.au
General Information
Participants should refer to Section 13 of the CHESS Procedure Guidelines for Participants and Section 14 of the ASX Settlement Operating Rules for further information concerning the processing of Takeover Acceptance Messages for a CHESS Holding of securities. Some of these issues are summarised below.
A Participant must initiate acceptance of an offer by transmission of an EIS type ‘031’ message (Takeover Acceptance) where the securities in question are held in a CHESS Holding. The Participant will receive a ‘032’ message (Effected Takeover Acceptance) from CHESS in response.
In addition to the electronic notification to the Participant, paper notification will be sent directly to the Holder as securities are reserved in an offer-accepted subposition. Any change to the balance of securities in subposition will generate further electronic advice to the Participant and paper advice to the Holder.
Where a Participant receives instructions from a Sponsored Holder, the Participant is required under the ASX Settlement Operating Rules to initiate acceptance of an offer:
if the Holder specifies the time when or by which the offer must be accepted, in accordance with those instructions; otherwise
by End of Day on the date of receipt of instructions from the Holder. Where the offer closes on the date of receipt of instructions then prior to the close of the offer.
Participants should therefore retain, as a minimum, a record of the date on which instructions to accept an offer are received from a Sponsored Holder.