On 31 May2017, the company announced its on-market buy-back program for ordinary shares up to the maximum aggregate amount of $5 million. Back to a single manager structure

Back to a single manager structure: On 31 May2017, the company announced its on-market buy-back program for ordinary shares up to the maximum aggregate amount of $5 million. The buyback program is expected to commence from 19 June 2017 and to remain in place for a period of up to 12 months or until all funds have been utilized. Based on the company’s closing share price of $0.885 on 30 May 2017, this would equate to approximately 3.35% of the company’s issued capital. Further, the company has completed its review of the dual investment manager structure and has been in constructive engagement with both appointed managers to ensure the best interests of CTN’s shareholders are met. In practice, the dual manager structure has resulted in managing two portfolios which has resulted in a material overlapping of positions between the managers, increased concentration risk and confusion for brokers and market participants. In addition, CTN’s current dual manager structure has increased the cost and complexity of reporting and overseeing its investments. Contango Funds Management Limited (subsidiary of Contango Asset Management) and OC Funds Management Pty Ltd (OCFM) reached a resolution to return to a single manager structure as OCFM ceased providing investment management services to the company from 25 May 2015.

To read the complete report CLICK HERE. To get your free report CLICK HERE


The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people.Kalkine.com.au and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376).The information on this website has been prepared from a wide variety of sources, which Kalkine Pty Ltd, to the best of its knowledge and belief, considers accurate. You should make your own enquiries about any investments and we strongly suggest you seek advice before acting upon any recommendation.Kalkine Pty Ltd has made every effort to ensure the reliability of information contained in its newsletters and websites. All information represents our views at the date of publication and may change without notice. To the extent permitted by law, Kalkine Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss or data corruption). If the law prohibits this exclusion, Kalkine Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services. There may be a product disclosure statement or other offer document for the securities and financial products we write about in Kalkine Reports. You should obtain a copy of the product disclosure statement or offer document before making any decision about whether to acquire the security or product.The link to our Terms & Conditions has been provided please go through them and also have a read of the Financial Services Guide. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine Pty Ltd currently hold positions in: BHP, BKY, KCN, PDN, and RIO. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.
Copyright © 2015 Kalkine Pty Ltd ABN 34 154 808 312. No part of this website, or its content, may be reproduced in any form without the prior consent of Kalkine Pty Ltd.
Kalkine is a trading name of Kalkine Pty Ltd ABN 34 154 808 312, which holds Australian Financial Services Licence No. 425376.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s