News Search
|
All News Topics
>
Export-Import Bank
;
Press Releases by Industry Channel
>
All Export-Import Bank Press Releases
ANDURAND CAPITAL FILES EARLY WARNING REPORT FOLLOWING DISPOSITION OF SPROTT COPPER TRUST UNITS
ST JULIENS, ST JULIENS, MALTA, May 23, 2025 /EINPresswire.com/ --
• Andurand Capital Management Ltd. (“ACML”), in its capacity as discretionary investment manager for the Andurand Climate and Energy Transition Master Fund (the “Fund”), today announced that it has filed an early warning report under National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in respect of its holdings of transferable units (“Units”) of Sprott Physical Copper Trust (the “Issuer”).
• Through a series of transactions between April 4, 2025 and May 22, 2025, ACML disposed of an aggregate of 221,600 Units through the facilities of the Toronto Stock Exchange for aggregate proceeds of USD 1,672,681 (approximately CAD 2,323,055 (the “Dispositions”). As a result of the Dispositions, the Fund’s beneficial ownership of Units was reduced by more than two percent (2%) of the Issuer’s outstanding Units since the filing of the Fund’s April 4, 2025 early warning disclosure.
________________________________________
MORE INFORMATION:
Immediately prior to the Dispositions, ACML, on behalf and for the sole benefit of the Fund, exercised control and direction over approximately 1,811,957 Units, representing approximately 16.4% of the then issued and outstanding Units of the Issuer.
Following the Dispositions, ACML, on behalf and for the sole benefit of the Fund, now exercises control and direction over an aggregate of approximately 1,590,357 Units, representing approximately 14.5% of the issued and outstanding Units.
The Units were disposed of in the ordinary course of business for investment purposes only. ACML, on behalf and for the sole benefit of the Fund, may continue to purchase, hold, vote, trade, dispose of, or otherwise deal in securities of the Issuer as it deems advisable, depending on market conditions, business developments of the Issuer, and other factors.
As of the date hereof, ACML has no specific current plan or future intention to engage in any of the matters listed in clauses (a) through (k) of item 5 of the early warning report filed by ACML on the date hereof (the “Early Warning Report”). ACML may in the future determine to take any available course of action, which could involve one or more of the types of transactions or matters, or have one or more of the results, referred to in clauses (a) through (k) of item 5 of the Early Warning Report, including requisitioning a meeting of unitholders of the Issuer, engaging with unitholders of the Issuer and soliciting proxies, or otherwise.
________________________________________
ADDITIONAL DETAILS:
A copy of the Early Warning Report filed by ACML is available under the Issuer’s profile on SEDAR+ at www.sedarplus.ca.
ACML’s registered office is located at The Hedge Business Centre, Level 5, Ir-Rampa ta’ San Giljan, Balluta Bay, St. Julian’s STJ 1062, Malta. The Issuer’s head office is located at Royal Bank Plaza, South Tower, Suite 2600, 200 Bay Street, Toronto, Ontario, Canada M5J 2J1.
For further information or to receive a copy of the Report, please see the Issuer’s profile on SEDAR+ at www.sedarplus.ca, or contact ACML by phone at +356 2092 7400 or by email at contact@andurandcapital.com.
• Andurand Capital Management Ltd. (“ACML”), in its capacity as discretionary investment manager for the Andurand Climate and Energy Transition Master Fund (the “Fund”), today announced that it has filed an early warning report under National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in respect of its holdings of transferable units (“Units”) of Sprott Physical Copper Trust (the “Issuer”).
• Through a series of transactions between April 4, 2025 and May 22, 2025, ACML disposed of an aggregate of 221,600 Units through the facilities of the Toronto Stock Exchange for aggregate proceeds of USD 1,672,681 (approximately CAD 2,323,055 (the “Dispositions”). As a result of the Dispositions, the Fund’s beneficial ownership of Units was reduced by more than two percent (2%) of the Issuer’s outstanding Units since the filing of the Fund’s April 4, 2025 early warning disclosure.
________________________________________
MORE INFORMATION:
Immediately prior to the Dispositions, ACML, on behalf and for the sole benefit of the Fund, exercised control and direction over approximately 1,811,957 Units, representing approximately 16.4% of the then issued and outstanding Units of the Issuer.
Following the Dispositions, ACML, on behalf and for the sole benefit of the Fund, now exercises control and direction over an aggregate of approximately 1,590,357 Units, representing approximately 14.5% of the issued and outstanding Units.
The Units were disposed of in the ordinary course of business for investment purposes only. ACML, on behalf and for the sole benefit of the Fund, may continue to purchase, hold, vote, trade, dispose of, or otherwise deal in securities of the Issuer as it deems advisable, depending on market conditions, business developments of the Issuer, and other factors.
As of the date hereof, ACML has no specific current plan or future intention to engage in any of the matters listed in clauses (a) through (k) of item 5 of the early warning report filed by ACML on the date hereof (the “Early Warning Report”). ACML may in the future determine to take any available course of action, which could involve one or more of the types of transactions or matters, or have one or more of the results, referred to in clauses (a) through (k) of item 5 of the Early Warning Report, including requisitioning a meeting of unitholders of the Issuer, engaging with unitholders of the Issuer and soliciting proxies, or otherwise.
________________________________________
ADDITIONAL DETAILS:
A copy of the Early Warning Report filed by ACML is available under the Issuer’s profile on SEDAR+ at www.sedarplus.ca.
ACML’s registered office is located at The Hedge Business Centre, Level 5, Ir-Rampa ta’ San Giljan, Balluta Bay, St. Julian’s STJ 1062, Malta. The Issuer’s head office is located at Royal Bank Plaza, South Tower, Suite 2600, 200 Bay Street, Toronto, Ontario, Canada M5J 2J1.
For further information or to receive a copy of the Report, please see the Issuer’s profile on SEDAR+ at www.sedarplus.ca, or contact ACML by phone at +356 2092 7400 or by email at contact@andurandcapital.com.
Hakon Haugnes
Andurand Capital Management
email us here
Powered by
Distribution channels: Banking, Finance & Investment Industry
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
Submit your press release