Contango AM reinstated to ASX

Contango AM reinstated to ASX

Contango Asset Management has re-listed on the ASX following a successful management buyout in June 2016.


Fund manager Contango Asset Management has had its securities reinstated to official quotation on the ASX following a management buyout in June 2016.

Contango joins the ASX with Martin Switzer and Charles Aitken as new non-executive directors. Roger Amos continues as non-executive chairman.

In a statement released yesterday, the company said the listing completes a "period of transition" after Contango executives and key staff, led by chief investment officer George Boubouras, initiated a management buyout.

After Mr Boubouras was appointed chief executive, the company undertook a successful $17.18 million capital raising that resulted in Pacific Point Partners  (which is jointly controlled by James Packer and Robert Rankin) emerging as a cornerstone 19.99 per cent shareholder.

Mr Boubouras said key staff at the fund manager now have "skin in the game".

"All key members of the team involved in growing Contango can now benefit from the Company's growth to the same degree as other shareholders," Mr Boubouras said.

"By restructuring the business in this more tightly aligned way we have created a highly scalable platform for significant future growth.

"We look forward to pursuing investment mandates in the wholesale sector, and we’ll continue to develop the successful listed investment company strategy."

Read more:

More ‘honesty’ needed in performance numbers

Banks to implement customer advocate role

Venezuela default could spark contagion

Pimco warns investors against complacency

CFS FirstWrap to integrate IRESS software

 

Related Articles

 

Contango AM reinstated to ASX
investordaily image
ID logo
promoted stories

Appointments

Karen McKeown

Local Government Super appoints director

Reporter

Neil Cochrane

First State Super CEO to retire

Reporter

Pally Bargri

AMP chief risk officer for advice departs

Killian Plastow

Analysis

investordaily image

Corporate governance and advocacy in China

Therese Niklasson

Dug Higgins

The shifting LIC landscape

Dug Higgins

investordaily image

The perils of chasing niche infrastructure

Frithjof van Zyp