About

About the Bonus MGF Option Issue

The Bonus MGF Option Issue is a pro-rata issue of bonus MGF Options to eligible Closed Class Unitholders in the Magellan Global Fund on the register on the Record Date of 26 February 2021.

Eligible Closed Class Unitholders will receive one MGF Option for every two Closed Class Units they hold on the Record Date (26 February 2021). No application money is payable under this grant of bonus MGF Options. Each MGF Option will be exercisable into one Closed Class Unit with the exercise price set at a 7.5% discount to the estimated net asset value per Closed Class Unit at the time of exercise.

Importantly, the 7.5% discount will be fully funded by Magellan Group and not by the Magellan Global Fund or Unitholders.

The MGF Options are intended to be quoted on ASX (expected to be from 2 March 2021) under the ticker MGFO and will have a three year term.

Am I eligible?

Am I eligible?

To be eligible under the Bonus MGF Option Issue, you will need to be a registered holder of Magellan Global Fund Closed Class Units (ASX: MGF) on 26 February 2021 and have a registered address in Australia, New Zealand, Hong Kong or Singapore.

Key Dates

Key Dates

Lodgement of the PDS with ASIC  5 January 2021  
Record Date for the Bonus MGF Option Issue   26 February 2021
Expected date for the allotment of MGF Options 1 March 2021
Trading of MGF Options commences on ASX 2 March 2021
Expected date for the despatch of holding statements By 5 March 2021
Expected MGF Option Exercise Period From 1 June 2021 to 1 March 2024
The above timetable is indicative only.  Magellan reserves the right to vary the dates and times set out above subject to the Corporations Act and other applicable law.
FAQs

Frequently Asked Questions

An MGF Option gives the option holder the right, but not the obligation, to acquire one (1) Closed Class Unit in the Magellan Global Fund at an exercise price equal to 92.5% of the Estimated NAV per Closed Class Unit at the time of exercise.

Magellan Group will bear the economic cost associated with the 7.5% discount each time a MGF Option is exercised.

MGF Options can be exercised between 10.00am and 2.00pm (Sydney time) on a Business Day during the Exercise Period (expected to be 1 June 2021 to 1 March 2024). Upon exercise, cleared MGF Option Exercise Monies must be received by Magellan by close of business on the same Business Day in order for the exercise to be valid. Detailed instructions will be sent to MGF Option holders prior to the Exercise Period opening (expected to be 1 June 2021).

The Record Date of the Bonus MGF Option Issue is 26 February 2021.

No. The Global Fund Partnership Offer is a separate offer to the Bonus MGF Option Issue. To be eligible for the Bonus MGF Option Issue you need to be a registered holder of Closed Class Units (ASX: MGF) on the 26 February 2021 and have a registered address in Australia, New Zealand, Singapore or Hong Kong. 

Closed Class Units issued under the Partnership Offer are not eligible for the Bonus MGF Option Issue as they will be allotted after the record date for the Bonus MGF Option Issue.

The Closed Class Units are a class of units issued by the Magellan Global Fund. Closed Class Units are quoted on the official list of ASX under the ASX Listing Rules. Closed Class Units trade under the security code: MGF.

Eligible Closed Class Unitholders are not required to do anything to receive the MGF Options under the Bonus Issue. MGF Options will be issued to them automatically and communicated to you by the unit registry, Mainstream Fund Services.

No. The MGF Options will be issued to Eligible Closed Class Unitholders for no consideration.

Information about the exercise price of the MGF Options can be found in Section 3 of the PDS.

Further Information

Further Information

For further information, please see links below:

If you have any questions on this bonus options offer, please contact either a member of Magellan’s Distribution team on 1800 MAGELLAN (1800 6243 55), the Unit Registry (Mainstream Fund Services) on 1300 127 780 (Australia) or +61 2 8259 8566 (International) or your financial adviser or broker.