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Pengana International Says Management of Global Equities Portfolio to Transition to Antipodes Global After Capital Management Process

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Pengana International Equities (ASX:PIA) said the the management of its global equities portfolio will transition to Antipodes Global Investment Management following the completion of a capital management process, according to a Friday Australian bourse filing.

The board proposed an off-market equal-access share buyback under which all eligible shareholders will have the opportunity to tender up to 100% of their shareholding, the filing said.

Assuming Pengana remains viable after completion of the buyback, a non-renounceable pro-rata rights issue at after-tax net tangible assets will be considered, per the filing.

The board declared a fully franked dividend of AU$0.014 per share for the June quarter, payable on June 16, the filing said. The board expects to declare a fully franked special dividend, subject to final confirmation at declaration.

Pengana International Equities' shares were up over 1% in recent trading on Friday.

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