Platinum Asset Management Limited (ASX:PTM) Announces Special Dividend and Ends Regal Discussions
Termination of Discussions with Regal
Platinum Asset Management Limited (ASX: PTM) has officially concluded discussions with Regal Partners Limited regarding a proposed acquisition. This decision follows an initial period of mutual due diligence after Platinum rejected Regal’s indicative proposal in September 2024. The cessation of these discussions removes any uncertainty surrounding the acquisition attempt.
Special Dividend Declaration
The Board of Platinum has reassessed its capital management strategy and announced a fully franked special dividend of 20 cents per share. This dividend reinforces the company’s commitment to returning value to shareholders while ensuring sufficient working capital to support ongoing growth initiatives.
Turnaround Strategy Update
Platinum remains focused on executing its turnaround strategy and has made progress in several key operational areas. Initiatives are underway, including cost control, remuneration redesign, and product rationalisation. The investment area is a priority as the company looks to manage costs in line with its funds under management.
New Partnership Announcement
In a bid to enhance product diversification, Platinum has secured a partnership with GW&K, a prominent US-based small-cap specialist. Under this exclusive agreement, Platinum will distribute GW&K’s global small-cap strategy to the Australian retail market, leveraging GW&K’s extensive experience and $86 billion AUD in funds under management.
Motley Fool contributor Lauren Surplice has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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