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Platinum Capital Limited (ASX:PMC)

ALERT: Price-sensitive ASX Announcement for PMC
Current share price for PMC : $1.765 0.02 (1.15%)+
Announcement
Release
28 Nov 2025 8:53AM
Price at Release
$1.745
Full Release
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Summary
At the 2025 Annual General Meeting of Platinum Capital Limited (PMC), key resolutions were discussed, including replacing Platinum Investment Management Limited as the investment manager with L1 Capital Pty Ltd. This decision followed an extensive review by an Independent Board Committee (IBC) which concluded that L1 Capital's proposal offered a superior outcome compared to the others. The company also proposed changing its name to L1 Global Long Short Fund Limited, subject to shareholder approval. The IBC's evaluation considered several factors such as investment strategy, performance, fee structures, and alignment with shareholder interests. The meeting also covered financial highlights for the year ending 30 June 2025, noting challenges in investment performance with a pre-tax NTA return significantly below the MSCI index. The strategic review process and subsequent proposals were extensively discussed, and key resolutions were voted on.
Key Points
  • Proposal to replace Platinum Investment Management with L1 Capital Pty Ltd.
  • Name change to L1 Global Long Short Fund Limited upon approval.
  • IBC found L1 Capital's proposal superior to other bids.
  • Financial year ending 30 June 2025 showed challenging investment returns.
  • Strategic review led to the exploration of new management options.
  • Resolutions covered investment manager replacement and company name change.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.