External reports (aggregated public sources), Value Investors Club

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External reports (aggregated public sources)

Equity Bottom-Up

<ul><li>Pacific Current Group expected to receive a large tender offer at a premium of 20%+ in the next 2-4 months</li><li>Trading at a 20% discount to estimated fair value NAV of A$13.47 per share with minimal NAV volatility risk</li><li>Successful monetization of ownership stakes in boutique asset managers improving financial profile, poised for growth and value creation</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.</em></p>

Pacific Current Group expected to receive a large tender offer at a premium of 20%+ in the next 2-4 monthsTrading at a 20% discount to estimated fair value NAV of A$13.47 per share with minimal NAV volatility riskSuccessful monetization of ownership stakes in boutique asset managers improving financial profile, poised for growth and value creationThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Pacific Current Group (PAC) - Thursday, Oct 17, 2024

Event-Driven Investment Opportunities, Special Situation Investments

Special Situation Investments

Event-Driven Investment Opportunities

Focus on event-driven trades and low risk arbitrage opportunities with short term catalysts

Event-Driven

<ul><li>NIOX Group received a non-binding takeover proposal from Keensight Capital at 81p/share, with a 9% spread.</li><li>Øystein Spetalen surpassed 50% ownership in SAGA Pure, triggering a mandatory bid under Norwegian securities law.</li><li>Pacific Current Group's tender was undersubscribed; River Capital increased its stake to 40.48%, while Regal Funds exited.</li></ul>

NIOX Group received a non-binding takeover proposal from Keensight Capital at 81p/share, with a 9% spread.Øystein Spetalen surpassed 50% ownership in SAGA Pure, triggering a mandatory bid under Norwegian securities law.Pacific Current Group's tender was undersubscribed; River Capital increased its stake to 40.48%, while Regal Funds exited.

Event-Driven Investment Opportunities: NIOX Merger, NZME SOTP, SAGA Privatization and More

<ul><li>NIOX Group received a non-binding takeover proposal from Keensight Capital at 81p/share, with ongoing negotiations and a deadline of April 17.</li><li>NZME Limited is exploring a separation of its OneRoof business, with activist investor Jim Grenon launching a proxy fight.</li><li>Øystein Spetalen triggered a mandatory bid in SAGA Pure, presenting a low-risk opportunity with a 40% spread to NAV.</li></ul>

NIOX Group received a non-binding takeover proposal from Keensight Capital at 81p/share, with ongoing negotiations and a deadline of April 17.NZME Limited is exploring a separation of its OneRoof business, with activist investor Jim Grenon launching a proxy fight.Øystein Spetalen triggered a mandatory bid in SAGA Pure, presenting a low-risk opportunity with a 40% spread to NAV.

Current Investment Opportunities: Mergers, Liquidations, Strategic Reviews and More

<ul><li>WEX Inc. launched a $750m tender offer with an odd-lot provision, targeting to repurchase ~12% of shares.</li><li>OCI N.V.'s Natgasoline JV dispute resolved, facilitating the methanol business sale, expected to close in Q2.</li><li>WideOpenWest's earnings released; Crestview Partners' $4.80/share takeover offer review continues, with spread volatility noted.</li></ul>

WEX Inc. launched a $750m tender offer with an odd-lot provision, targeting to repurchase ~12% of shares.OCI N.V.'s Natgasoline JV dispute resolved, facilitating the methanol business sale, expected to close in Q2.WideOpenWest's earnings released; Crestview Partners' $4.80/share takeover offer review continues, with spread volatility noted.

SSI Weekly: WEX Tender Offer, SGRP Gains, OCI Asset Sale, CURN Strategy, and Quick Pitch Updates

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

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<ul>
<li>On 7 March, <a href="https://www.smartkarma.com/entities/insignia-financial-ltd" target="_blank" data-smartkarma-citation="entities:12349:1" rel="noopener">Insignia Financial (IFL AU)</a> disclosed a revised non-binding privatisation offer from Bain and CC Capital at A$5.00, an 8.7% premium to their previous A$4.60 offer.</li>
<li>The exclusive due diligence period ends on 17 April (six weeks from signing the exclusivity deed). The Board will recommend a binding offer of at least A$5.00. </li>
<li>The offer is attractive compared to historical trading ranges, peer multiples and precedent transactions. Therefore, a binding offer would gain shareholder support.</li>
</ul>


On 7 March, Insignia Financial (IFL AU) disclosed a revised non-binding privatisation offer from Bain and CC Capital at A$5.00, an 8.7% premium to their previous A$4.60 offer.
The exclusive due diligence period ends on 17 April (six weeks from signing the exclusivity deed). The Board will recommend a binding offer of at least A$5.00. 
The offer is attractive compared to historical trading ranges, peer multiples and precedent transactions. Therefore, a binding offer would gain shareholder support.


Insignia Financial (IFL AU): Bain and CC Capital Bumps to A$5.00, While Brookfield Drops Out

Australia

Pacific Current Group Limited operates as an asset management firm. The Company offers investment management, strategic planning, compensation structuring, and trading services. Pacific Current Group serves institutional and individual clients worldwide.

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Pacific Current (PAC AU)

Pacific Current Group (PAC) - Thursday, Oct 17, 2024

Successful monetization of ownership stakes in boutique asset managers improving financial profile, poised for growth and value creation

Value Investors Club

Event-Driven Investment Opportunities: NIOX Merger, NZME SOTP, SAGA Privatization and More

NIOX Group received a non-binding takeover proposal from Keensight Capital at 81p/share, with a 9% spread. ystein Spetalen surpassed 50% ownership...

Special Situation Investments

Current Investment Opportunities: Mergers, Liquidations, Strategic Reviews and More

NIOX Group received a non-binding takeover proposal from Keensight Capital at 81p/share, with ongoing negotiations and a deadline of April 17.

Special Situation Investments

SSI Weekly: WEX Tender Offer, SGRP Gains, OCI Asset Sale, CURN Strategy, and Quick Pitch Updates

WEX Inc. launched a $750m tender offer with an odd-lot provision, targeting to repurchase ~12% of shares. OCI N.V.'s Natgasoline JV dispute...

Special Situation Investments

Insignia Financial (IFL AU): Bain and CC Capital Bumps to A$5.00, While Brookfield Drops Out

The offer is attractive compared to historical trading ranges, peer multiples and precedent transactions. The presence of two bidders increases the...

Arun George

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