Investment Matters

Company news: Ausenco

Ausenco, in which you have a small holding, has received an indicative, non-binding proposal from Resource Capital Fund (RCF) VI L.P. to privatise the company by way of a scheme of arrangement.

First Samuel clients are the largest single shareholding group in Ausenco (followed by Management, Duro Felguera, and then RCF) and as a result we will be key in deciding (as we have a blocking stake i.e. above 10%) whether such a proposal will be sufficient (if it comes to surface) to gain our approval. We welcome this move by RCF in as much as it highlights that they must believe there is considerable value in Ausenco for those with an appropriate time horizon.