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FAR LIMITED — Major Shareholding Notification 2020
Dec 20, 2020
64899_rns_2020-12-20_7659b84a-2b29-4cf6-8c5d-43f0d3b96998.pdf
Major Shareholding Notification
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18 December 2020
Equity Derivatives of Athos Capital Limited in FAR
In accordance with the Listing Rules, FAR Limited (ASX: FAR) releases the attached equity derivatives disclosure letter received from FAR shareholder, Athos Capital Limited.
This announcement has been approved for release by the FAR Limited disclosure committee.
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17 December 2020
Elisha Larkin Company Secretary FAR Limited Level 17, 530 Collins Street Melbourne VIC 3000
Dear Ms Larkin
Equity Derivatives of Athos Capital Limited in FAR Limited
Athos Capital Limited (“ Athos ”) provides disclosure in accordance with Guidance Note 20: Equity Derivatives with respect to Athos’ long exposure in FAR Limited (“ FAR ”) via cash-settled equity swap transactions (“ Swaps ”) with Credit Suisse AG, Dublin, Morgan Stanley & Co International PLC and Goldman Sachs International.
Athos consents to FAR releasing the information contained in this formal disclosure to the Australian Securities Exchange. Please provide confirmation to us once this has been released to the market.
Athos Capital Limited
Athos is a Hong Kong-based investment management company established in 2011 that focuses on managing alternative asset management products for institutional investors globally in a variety of marketuncorrelated investment strategies. Its clients primarily include pension funds, university endowments and non-profit institutions. The funds it manages include the Athos Asia Event Driven Master Fund (the “ Master Fund ”), which follows a variety of equity and credit-related strategies, FMAP ACL Limited, and 405 ACM Ltd, both of which are separate investment vehicles that invest pari passu to the Master Fund subject to certain additional investment restrictions.
Current position
As at the date of this letter, Athos’ aggregate total long exposure to FAR totals 726,917,560, equating to approximately 7.28% of FAR’s shares. The Swaps are the totality of Athos’ exposure to FAR and as such carry no voting rights.
Athos’ long position first exceeded 5% on 21 January 2020. Please refer to Appendix 1 for the details of the positions through which Athos has its equity swap exposure.
Importantly, Athos’ voting power is currently below 5% and so it is not currently required to lodge a substantial holder notice with respect to FAR.
Yours sincerely
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Hitesh Uttam Chief Operating Officer
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| Appendix 1 | |||||||
|---|---|---|---|---|---|---|---|
| Trade Date | Fund | Direction | Security Name | Quantity | Net Price | Currency | Counterparty |
| 09-11-2018 | FMAP ACL Limited | Buy | Equity Swap referencing FAR Limited | 1,383,986 | 0.0812 | AUD | Morgan Stanley & Co International PLC |
| 09-11-2018 | Athos Asia Event Driven Master Fund | Buy | Equity Swap referencing FAR Limited | 3,551,271 | 0.0812 | AUD | Morgan Stanley & Co International PLC |
| 12-11-2018 | FMAP ACL Limited | Buy | Equity Swap referencing FAR Limited | 701,359 | 0.0784 | AUD | Morgan Stanley & Co International PLC |
| 12-11-2018 | Athos Asia Event Driven Master Fund | Buy | Equity Swap referencing FAR Limited | 1,799,670 | 0.0784 | AUD | Morgan Stanley & Co International PLC |
| 14-11-2018 | FMAP ACL Limited | Buy | Equity Swap referencing FAR Limited | 419,662 | 0.077 | AUD | Morgan Stanley & Co International PLC |
| 14-11-2018 | Athos Asia Event Driven Master Fund | Buy | Equity Swap referencing FAR Limited | 1,076,841 | 0.077 | AUD | Morgan Stanley & Co International PLC |
| 15-11-2018 | FMAP ACL Limited | Buy | Equity Swap referencing FAR Limited | 278,963 | 0.078 | AUD | Morgan Stanley & Co International PLC |
| 15-11-2018 | Athos Asia Event Driven Master Fund | Buy | Equity Swap referencing FAR Limited | 715,813 | 0.078 | AUD | Morgan Stanley & Co International PLC |
| 16-11-2018 | FMAP ACL Limited | Buy | Equity Swap referencing FAR Limited | 31,344 | 0.078 | AUD | Morgan Stanley & Co International PLC |
| 16-11-2018 | Athos Asia Event Driven Master Fund | Buy | Equity Swap referencing FAR Limited | 80,429 | 0.078 | AUD | Morgan Stanley & Co International PLC |
| 19-11-2018 | FMAP ACL Limited | Buy | Equity Swap referencing FAR Limited | 469,590 | 0.078 | AUD | Morgan Stanley & Co International PLC |
| 19-11-2018 | Athos Asia Event Driven Master Fund | Buy | Equity Swap referencing FAR Limited | 1,204,957 | 0.078 | AUD | Morgan Stanley & Co International PLC |
| 21-11-2018 | FMAP ACL Limited | Buy | Equity Swap referencing FAR Limited | 560,857 | 0.0726 | AUD | Morgan Stanley & Co International PLC |
| 21-11-2018 | Athos Asia Event Driven Master Fund | Buy | Equity Swap referencing FAR Limited | 1,439,143 | 0.0726 | AUD | Morgan Stanley & Co International PLC |
| 23-11-2018 | FMAP ACL Limited | Buy | Equity Swap referencing FAR Limited | 41,319 | 0.07 | AUD | Morgan Stanley & Co International PLC |
| 23-11-2018 | Athos Asia Event Driven Master Fund | Buy | Equity Swap referencing FAR Limited | 106,024 | 0.07 | AUD | Morgan Stanley & Co International PLC |
| 27-11-2018 | FMAP ACL Limited | Buy | Equity Swap referencing FAR Limited | 310,071 | 0.0691 | AUD | Morgan Stanley & Co International PLC |
| 27-11-2018 | Athos Asia Event Driven Master Fund | Buy | Equity Swap referencing FAR Limited | 795,636 | 0.0691 | AUD | Morgan Stanley & Co International PLC |
| 28-11-2018 | FMAP ACL Limited | Buy | Equity Swap referencing FAR Limited | 692,476 | 0.0683 | AUD | Morgan Stanley & Co International PLC |
| 28-11-2018 | Athos Asia Event Driven Master Fund | Buy | Equity Swap referencing FAR Limited | 1,776,875 | 0.0683 | AUD | Morgan Stanley & Co International PLC |
| 09-01-2019 | FMAP ACL Limited | Buy | Equity Swap referencing FAR Limited | 531,651 | 0.069 | AUD | Morgan Stanley & Co International PLC |
| 10-01-2019 | FMAP ACL Limited | Buy | Equity Swap referencing FAR Limited | 225,010 | 0.069 | AUD | Morgan Stanley & Co International PLC |
| 11-02-2019 | FMAP ACL Limited | Buy | Equity Swap referencing FAR Limited | 87,780 | 0.054 | AUD | Morgan Stanley & Co International PLC |
| 11-02-2019 | Athos Asia Event Driven Master Fund | Buy | Equity Swap referencing FAR Limited | 187,916 | 0.054 | AUD | Morgan Stanley & Co International PLC |
| 12-02-2019 | FMAP ACL Limited | Buy | Equity Swap referencing FAR Limited | 358,620 | 0.0542 | AUD | Morgan Stanley & Co International PLC |
| 12-02-2019 | Athos Asia Event Driven Master Fund | Buy | Equity Swap referencing FAR Limited | 767,719 | 0.0542 | AUD | Morgan Stanley & Co International PLC |
| 13-02-2019 | FMAP ACL Limited | Buy | Equity Swap referencing FAR Limited | 304,733 | 0.0539 | AUD | Morgan Stanley & Co International PLC |
| 13-02-2019 | Athos Asia Event Driven Master Fund | Buy | Equity Swap referencing FAR Limited | 652,360 | 0.0539 | AUD | Morgan Stanley & Co International PLC |
| 14-02-2019 | FMAP ACL Limited | Buy | Equity Swap referencing FAR Limited | 41,560,836 | 0.057 | AUD | Credit Suisse AG, Dublin |
| 14-02-2019 | Athos Asia Event Driven Master Fund | Buy | Equity Swap referencing FAR Limited | 88,971,738 | 0.057 | AUD | Credit Suisse AG, Dublin |
| 14-02-2019 | FMAP ACL Limited | Sell | Equity Swap referencing FAR Limited | -627,515 | 0.057 | AUD | Morgan Stanley & Co International PLC |
| 14-02-2019 | Athos Asia Event Driven Master Fund | Sell | Equity Swap referencing FAR Limited | -1,372,485 | 0.057 | AUD | Morgan Stanley & Co International PLC |
| 14-02-2019 | FMAP ACL Limited | Buy | Equity Swap referencing FAR Limited | 3,498,298 | 0.0549 | AUD | Morgan Stanley & Co International PLC |
| 14-02-2019 | Athos Asia Event Driven Master Fund | Buy | Equity Swap referencing FAR Limited | 7,489,014 | 0.0549 | AUD | Morgan Stanley & Co International PLC |
| 03-05-2019 | FMAP ACL Limited | Buy | Equity Swap referencing FAR Limited | 35,504,800 | 0.055 | AUD | Morgan Stanley & Co International PLC |
| 03-05-2019 | Athos Asia Event Driven Master Fund | Buy | Equity Swap referencing FAR Limited | 74,495,200 | 0.055 | AUD | Morgan Stanley & Co International PLC |
| 10-05-2019 | FMAP ACL Limited | Sell | Equity Swap referencing FAR Limited | -65,459 | 0.066 | AUD | Morgan Stanley & Co International PLC |
| 10-05-2019 | Athos Asia Event Driven Master Fund | Sell | Equity Swap referencing FAR Limited | -138,549 | 0.066 | AUD | Morgan Stanley & Co International PLC |
| 22-08-2019 | FMAP ACL Limited | Sell | Equity Swap referencing FAR Limited | -85,960 | 0.0641 | AUD | Morgan Stanley & Co International PLC |
| 22-08-2019 | Athos Asia Event Driven Master Fund | Sell | Equity Swap referencing FAR Limited | -181,943 | 0.0641 | AUD | Morgan Stanley & Co International PLC |
| 23-08-2019 | FMAP ACL Limited | Sell | Equity Swap referencing FAR Limited | -73,941 | 0.0641 | AUD | Morgan Stanley & Co International PLC |
| 23-08-2019 | Athos Asia Event Driven Master Fund | Sell | Equity Swap referencing FAR Limited | -156,504 | 0.0641 | AUD | Morgan Stanley & Co International PLC |
| 28-08-2019 | FMAP ACL Limited | Sell | Equity Swap referencing FAR Limited | -57,621 | 0.064 | AUD | Morgan Stanley & Co International PLC |
| 28-08-2019 | Athos Asia Event Driven Master Fund | Sell | Equity Swap referencing FAR Limited | -121,961 | 0.064 | AUD | Morgan Stanley & Co International PLC |
| 29-08-2019 | FMAP ACL Limited | Sell | Equity Swap referencing FAR Limited | -114,677 | 0.0641 | AUD | Morgan Stanley & Co International PLC |
| 29-08-2019 | Athos Asia Event Driven Master Fund | Sell | Equity Swap referencing FAR Limited | -242,725 | 0.0641 | AUD | Morgan Stanley & Co International PLC |
| 30-08-2019 | FMAP ACL Limited | Sell | Equity Swap referencing FAR Limited | -8,770 | 0.064 | AUD | Morgan Stanley & Co International PLC |
| 30-08-2019 | Athos Asia Event Driven Master Fund | Sell | Equity Swap referencing FAR Limited | -18,563 | 0.064 | AUD | Morgan Stanley & Co International PLC |
| 23-09-2019 | Athos Asia Event Driven Master Fund | Sell | Equity Swap referencing FAR Limited | -21 | 0.06 | AUD | Morgan Stanley & Co International PLC |
| 11-10-2019 | FMAP ACL Limited | Buy | Equity Swap referencing FAR Limited | 742,890 | 0.0524 | AUD | Credit Suisse AG, Dublin |
| 28-10-2019 | FMAP ACL Limited | Buy | Equity Swap referencing FAR Limited | 1,150,384 | 0.0515 | AUD | Credit Suisse AG, Dublin |
| 29-10-2019 | FMAP ACL Limited | Buy | Equity Swap referencing FAR Limited | 601,834 | 0.051 | AUD | Morgan Stanley & Co International PLC |
| 29-10-2019 | FMAP ACL Limited | Buy | Equity Swap referencing FAR Limited | 1,543,012 | 0.0519 | AUD | Credit Suisse AG, Dublin |
| 31-10-2019 | FMAP ACL Limited | Buy | Equity Swap referencing FAR Limited | 2,497,887 | 0.0519 | AUD | Credit Suisse AG, Dublin |
| 01-11-2019 | FMAP ACL Limited | Buy | Equity Swap referencing FAR Limited | 403,541 | 0.052 | AUD | Morgan Stanley & Co International PLC |
| 01-11-2019 | FMAP ACL Limited | Buy | Equity Swap referencing FAR Limited | 50,029 | 0.052 | AUD | Credit Suisse AG, Dublin |
| 05-11-2019 | FMAP ACL Limited | Buy | Equity Swap referencing FAR Limited | 194,258 | 0.052 | AUD | Morgan Stanley & Co International PLC |
| 05-11-2019 | Athos Asia Event Driven Master Fund | Buy | Equity Swap referencing FAR Limited | 351,523 | 0.052 | AUD | Morgan Stanley & Co International PLC |
| 06-11-2019 | FMAP ACL Limited | Buy | Equity Swap referencing FAR Limited | 909,105 | 0.052 | AUD | Morgan Stanley & Co International PLC |
| 06-11-2019 | Athos Asia Event Driven Master Fund | Buy | Equity Swap referencing FAR Limited | 1,645,083 | 0.052 | AUD | Morgan Stanley & Co International PLC |
| 07-11-2019 | FMAP ACL Limited | Buy | Equity Swap referencing FAR Limited | 560,850 | 0.052 | AUD | Morgan Stanley & Co International PLC |
| 08-11-2019 | FMAP ACL Limited | Buy | Equity Swap referencing FAR Limited | 196,787 | 0.053 | AUD | Morgan Stanley & Co International PLC |
| 08-11-2019 | Athos Asia Event Driven Master Fund | Buy | Equity Swap referencing FAR Limited | 356,098 | 0.053 | AUD | Morgan Stanley & Co International PLC |
| 14-11-2019 | FMAP ACL Limited | Buy | Equity Swap referencing FAR Limited | 979,644 | 0.052 | AUD | Morgan Stanley & Co International PLC |
| 14-11-2019 | FMAP ACL Limited | Buy | Equity Swap referencing FAR Limited | 1,000,000 | 0.052 | AUD | Morgan Stanley & Co International PLC |
| 15-11-2019 | FMAP ACL Limited | Buy | Equity Swap referencing FAR Limited | 1,177,125 | 0.05 | AUD | Morgan Stanley & Co International PLC |
| 31-12-2019 | Athos Asia Event Driven Master Fund | Buy | Equity Swap referencing FAR Limited | 2,407,557 | 0.0432 | AUD | Credit Suisse AG, Dublin |
| 31-12-2019 | Athos Asia Event Driven Master Fund | Buy | Equity Swap referencing FAR Limited | 1,000,000 | 0.0431 | AUD | Morgan Stanley & Co International PLC |
| 21-01-2020 | FMAP ACL Limited | Buy | Equity Swap referencing FAR Limited | 91,521,025 | 0.0425 | AUD | Morgan Stanley & Co International PLC |
| 21-01-2020 | Athos Asia Event Driven Master Fund | Buy | Equity Swap referencing FAR Limited | 258,478,975 | 0.0425 | AUD | Morgan Stanley & Co International PLC |
| 31-01-2020 | FMAP ACL Limited | Buy | Equity Swap referencing FAR Limited | 435,140 | 0.04 | AUD | Credit Suisse AG, Dublin |
| 31-01-2020 | Athos Asia Event Driven Master Fund | Buy | Equity Swap referencing FAR Limited | 772,225 | 0.04 | AUD | Credit Suisse AG, Dublin |
| 03-02-2020 | Athos Asia Event Driven Master Fund | Buy | Equity Swap referencing FAR Limited | 9,000,000 | 0.0377 | AUD | Credit Suisse AG, Dublin |
| 05-02-2020 | Athos Asia Event Driven Master Fund | Buy | Equity Swap referencing FAR Limited | 5,000,000 | 0.037 | AUD | Credit Suisse AG, Dublin |
| 06-02-2020 | Athos Asia Event Driven Master Fund | Buy | Equity Swap referencing FAR Limited | 5,000,000 | 0.037 | AUD | Credit Suisse AG, Dublin |
07-02-2020 Athos Asia Event Driven Master Fund Buy Equity Swap referencing FAR Limited 410,677 0.037 AUD Credit Suisse AG, Dublin 11-02-2020 Athos Asia Event Driven Master Fund Buy Equity Swap referencing FAR Limited 152,194 0.034 AUD Credit Suisse AG, Dublin 14-02-2020 FMAP ACL Limited Buy Equity Swap referencing FAR Limited 3,971,584 0.0313 AUD Credit Suisse AG, Dublin 14-02-2020 Athos Asia Event Driven Master Fund Buy Equity Swap referencing FAR Limited 7,048,204 0.0313 AUD Credit Suisse AG, Dublin 17-02-2020 FMAP ACL Limited Buy Equity Swap referencing FAR Limited 63,953 0.031 AUD Credit Suisse AG, Dublin 17-02-2020 Athos Asia Event Driven Master Fund Buy Equity Swap referencing FAR Limited 113,494 0.031 AUD Credit Suisse AG, Dublin 18-02-2020 Athos Asia Event Driven Master Fund Buy Equity Swap referencing FAR Limited 1,167,356 0.0314 AUD Credit Suisse AG, Dublin 18-02-2020 FMAP ACL Limited Buy Equity Swap referencing FAR Limited 3,172,559 0.0314 AUD Credit Suisse AG, Dublin 18-02-2020 Athos Asia Event Driven Master Fund Buy Equity Swap referencing FAR Limited 5,630,206 0.0314 AUD Credit Suisse AG, Dublin 19-02-2020 Athos Asia Event Driven Master Fund Buy Equity Swap referencing FAR Limited 2,064,507 0.0308 AUD Credit Suisse AG, Dublin 20-02-2020 Athos Asia Event Driven Master Fund Buy Equity Swap referencing FAR Limited 523,202 0.031 AUD Credit Suisse AG, Dublin 21-02-2020 Athos Asia Event Driven Master Fund Buy Equity Swap referencing FAR Limited 45,819,385 0.0315 AUD Credit Suisse AG, Dublin 24-08-2020 FMAP ACL Limited Sell Equity Swap referencing FAR Limited -71,290,647 0.013 AUD Morgan Stanley & Co International PLC 24-08-2020 Athos Asia Event Driven Master Fund Sell Equity Swap referencing FAR Limited -178,709,353 0.013 AUD Morgan Stanley & Co International PLC 24-08-2020 FMAP ACL Limited Buy Equity Swap referencing FAR Limited 71,290,647 0.013 AUD Goldman Sachs International 24-08-2020 Athos Asia Event Driven Master Fund Buy Equity Swap referencing FAR Limited 178,709,353 0.013 AUD Goldman Sachs International 01-09-2020 405 ACM Ltd Buy Equity Swap referencing FAR Limited 34,897,732 0.011 AUD Morgan Stanley & Co International PLC 01-09-2020 Athos Asia Event Driven Master Fund Sell Equity Swap referencing FAR Limited -34,897,732 0.011 AUD Morgan Stanley & Co International PLC 01-09-2020 405 ACM Ltd Buy Equity Swap referencing FAR Limited 34,316,651 0.011 AUD Credit Suisse AG, Dublin 01-09-2020 Athos Asia Event Driven Master Fund Sell Equity Swap referencing FAR Limited -34,316,651 0.011 AUD Credit Suisse AG, Dublin 01-09-2020 405 ACM Ltd Buy Equity Swap referencing FAR Limited 35,229,091 0.011 AUD Goldman Sachs International 01-09-2020 Athos Asia Event Driven Master Fund Sell Equity Swap referencing FAR Limited -35,229,091 0.011 AUD Goldman Sachs International