Dear Shareholder,
I am writing to you to provide an update on changes at our investment manager Hunter Hall International Limited (HHL) (ASX:HHL) and at Hunter Hall Global Value Limited (HHV).
Key Points
While there has been a lot of news involving HHV over the holiday period, your Board reassures shareholders that it remains very much business as usual at HHV.
- The lead investment manager and key team members at HHL responsible for HHV’s investment portfolio remain unchanged irrespective of the resignation of Mr Hall
- The HHV Board has experienced directors and appropriate governance to actively protect the interests of shareholders and will continue to monitor the current situation
- The HHV Board remains satisfied that HHL has the capacity and expertise to manage HHV’s portfolio
- Both Washington H. Soul Pattinson & Co and Pinnacle Investment Management Group Limited’s stated intentions are to continue HHL’s existing investment style and philosophy. The HHV Board is supportive of the continuation of HHL’s current management of HHV, but will continue to monitor the situation
- An Equal Access Buy Back of HHV shares as proposed by HHV’s largest shareholder is likely destructive to shareholder value and therefore not in the best interests of shareholders and has accordingly been rejected by the HHV Board
- HHV has declared an increased dividend for the first half of FY17 compared to the first half dividend for FY16
For further information please download PDF attached:
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