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SCHOOLBLAZER LIMITED — Capital/Financing Update 2021
Mar 23, 2021
65751_rns_2021-03-23_c95320ff-5c39-46e1-a31c-3e18459c1ea8.pdf
Capital/Financing Update
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24 March 2021
Company Announcements Office Australian Securities Exchange Authorised by the Board for immediate release
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HGL COMPLETES ACQUISITION OF SUPERVISED INVESTMENTS
HGL Limited (ASX: HNG) ( HGL or Company ) is pleased to announce it has today completed the acquisition of Supervised Investments Australia Ltd ( SIAL ), as announced to the market on 21 January 2021. SIAL is a fund manager with an investment management agreement for The Supervised Fund (TSF) and its own AFSL.
SIAL has been brought into the HGL group as a wholly owned and managed fund manager and will be rebranded under the HGL banner in due course.
The acquisition has been funded by the issue of 3 million HGL shares, which were approved by shareholders at the HGL Annual General Meeting on 24 February 2021.
The acquisition represents HGL’s re-entry into funds management, and with in excess of $10 M in funds under management provides a small base and capability from which to grow and to derive both base management fees and investment performance fees. It is intended that the Investment / Funds management division will grow to become a core contributor to future profitability of HGL.
Further Information
Please contact Iain Thompson, HGL CFO, on 02 8667 4662.
About HGL Ltd
HGL is a diversified investment company with a focus on active management and driving shareholder returns, investing in a broad range of opportunities across Private Equity, ASX listed equities, Funds management, real property, debt funding and other alternative investments. We seek to become a trusted partner of choice that aims to solve our partner’s problems, identifying and pursuing opportunities that benefit all parties.