Magellan Financial Group Ltd (ASX: MFG) announced on 1 July 2026 the issuance of 106,838,520 fully paid ordinary shares. The Sydney-based firm is an Australian funds management company that offers global equities and infrastructure funds to retail and institutional investors. This share issuance marks a significant step in the company’s previously announced acquisition of the remaining issued capital in Barrenjoey Capital Partners Group Holdings Pty Limited.
These Consideration Shares were issued without disclosure to investors under Part 6D.2 of the Corporations Act 2001 (Cth), a process facilitated by a notice given under section 708A(5)(e) of the Act. Magellan Financial Group had secured shareholder approval for this issuance under ASX Listing Rule 7.1 at an extraordinary general meeting held on Friday, 10 April 2026. This approval paved the way for the shares to serve as the consideration for the merger, completing the acquisition of the outstanding Barrenjoey capital that MFG did not previously own.
In its notice, MFG confirmed its compliance with the provisions of Chapter 2M of the Corporations Act, as they apply to the company, and also with sections 674 and 674A of the Act as of the announcement date. Furthermore, the company stated that there is no excluded information, as defined by sections 708A(7) and 708A(8) of the Corporations Act, which would be required to be disclosed in this notice under section 708A(6)(e). This announcement signals the formal completion of the equity component of the Barrenjoey acquisition.
