Aurora submits application to Takeovers Panel
The Australian Government Takeovers Panel has advised it has received an application from Aurora Funds Management in relation to the affairs of the Aurora Absolute Return Fund (ABW).
Aurora submitted that certain ABW unitholders, involved with calling a meeting of ABW held on 15 January, were associated by reason of entering relevant agreements in relation to the acquisition of units in ABW and voting agreements in relation to co-operating to replace Aurora as responsible entity of ABW at the meeting.
However, the resolutions passed at the meeting were declared to be invalid in the matter of Aurora.
Following this, Aurora submitted that the agreements gave the alleged associated voting power in ABW of more than 20 per cent and would seek orders including restraining the alleged associates from disposing of ABW units or exercising any voting rights in ABW units pending outcome of proceedings, it said.
Additionally, the firm would also seek final orders including vesting certain ABW units in ASIC for sale.
The Panel said it would make no comment on the merits of the application.
AUTHOR
Oksana Patron
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