This Notice is being issued to provide Participants with further information in relation to the bid and details the acceptance process through CHESS.

What do I need to do by when?

Bid Details

Offer Terms:

The Buy-Back Price is equal to the sum of:

(a)   the NAV per Unit as at the Buy-Back Pricing Date; and

(b)   the sum of the amounts of distributions that the Unitholder would have been entitled to if the Unit was not cancelled from the Buy-Back Cancellation of Units Date up to the Buy-Back Payment Date.

The NAV per Unit price is the Net Tangible Asset Backing of each unit as defined in the ASX Listing Rules.

The NAV per Unit will be calculated by the independent Administrator and Custodian of the Trust.

This off-market buy‑back (Buy-Back) was announced on Thursday, 14 November 2024. Refer to the Buy-Back Booklet on www.pengana.com/PCX for further information about the Buy-Back.

CHESS will process offer acceptance messages until 5:00pm (Sydney time) on 20 December 2024, or in the event that the offer is extended, such other times as may be notified by PCX to the market.

For further information regarding the offer please contact the Pengana Global Private Credit Trust Buy-Back Information Line on 1300 855 080 (within Australia) or +61 3 9415 4000 (outside Australia) between the hours of 8:30am to 5:00pm Monday to Friday (Sydney time).

Buy-Back Election Forms submitted directly by the Unitholders

Controlling participants should be aware that Eligible Unitholders are able to submit a Buy-Back Election Form directly with PCX’s Registry, Computershare Investor Services Pty Limited (Computershare). Computershare will need to confirm any Buy-Back Election Form submission with the controlling CHESS participant before it can be taken as validly submitted.

·         Computershare will relay the unitholder’s offer to the controlling participant by the end of the business day that the Buy-Back Election Form is received.

·         The controlling participant (Broker) is required to acknowledge the offer by the end of the following business day.

Any Buy-Back offer CHESS messages initiated by Computershare which have not been acknowledged by a unitholder’s controlling participant by 7.00pm (Sydney time) on Friday, 20 December 2024 (Closing Date) will be rejected, and those offers will not be included in the Buy-Back. Neither Pengana Investment Management Limited as responsible entity for Pengana Global Private Credit Trust nor Computershare will be responsible should the controlling participant not acknowledge and confirm an offer in sufficient time. 

Need more information?

Issued by

Rebecca Hayes, Equity Post Trade Operations

Contact information

Rebecca Hayes
1800 814 051
chesshelp@asx.com.au

General Information

Participants should refer to Section 13 of the CHESS Procedure Guidelines for Participants and Section 14 of the ASX Settlement Operating Rules for further information concerning the processing of Takeover Acceptance Messages for a CHESS Holding of securities. Some of these issues are summarised below. 

• A Participant must initiate acceptance of an offer by transmission of an EIS type ‘031’ message (Takeover Acceptance) where the securities in question are held in a CHESS Holding. The Participant will receive a ‘032’ message (Effected Takeover Acceptance) from CHESS in response. 
• In addition to the electronic notification to the Participant, paper notification will be sent directly to the Holder as securities are reserved in an offer-accepted subposition. Any change to the balance of securities in subposition will generate further electronic advice to the Participant and paper advice to the Holder.
• Where a Participant receives instructions from a Sponsored Holder, the Participant is required under the ASX Settlement Operating Rules to initiate acceptance of an offer:
• if the Holder specifies the time when or by which the offer must be accepted, in accordance with those instructions; otherwise 
• by End of Day on the date of receipt of instructions from the Holder. Where the offer closes on the date of receipt of instructions then prior to the close of the offer. 

Participants should therefore retain, as a minimum, a record of the date on which instructions to accept an offer are received from a Sponsored Holder.

Disclaimer