Hastings Funds Management Limited ABN 27 058 693 388
AFSL No. 238309
Level 27, 35 Collins Street Melbourne VIC 3000 Australia T +61 3 8650 3600
F +61 3 8650 3701
www.hfm.com.auMelbourne, London, San Antonio, Sydney
ASX AnnouncementHastings Diversified Utilities Fund (HDF) Total pages: 1
26 July 2012
HDF responds to APA announcement
Further to HDF's announcement on 25 July 2012 regarding APA Group's (APA) intention to increase its takeover offer for HDF subject to completion of satisfactory due diligence, a subcommittee of independent directors of Hastings Funds Management Limited, as Responsible Entity for HDF, has advised that it will engage with APA about the terms on which due diligence can be granted.
The subcommittee of independent directors will also engage with APA about its ability to increase its offer consideration to a value of at least $2.50 per security, comprised of $0.60 cash and a fixed amount of APA securities, representing a value of at least $2.525 per security when combined with HDF's distribution payable of $0.025 per security on 6 August 2012.
For further enquiries, please contact:
Colin Atkin
Chief Executive OfficerHastings Diversified Utilities Fund
Tel: +61 3 8650 3600
Fax: +61 3 8650 3701
Email: investor_relations@hfm.com.au
Website: www.hfm.com.au
Simon Ondaatje
Head of Investor RelationsHastings Funds Management
Tel: +61 3 8650 3600
Fax: +61 3 8650 3701
Email: investor_relations@hfm.com.au
Website: www.hfm.com.au
Jane Frawley
Company SecretaryHastings Funds Management Limited
Unless otherwise stated, the information contained in this document is for informational purposes only. It does not constitute an offer of securities and should not be relied upon as financial advice. The information has been prepared without taking into account the investment objectives, financial situation or particular needs of any particular person or entity. Before making an investment decision you should consider, with or without the assistance of a financial adviser, whether any investments are appropriate in light of your particular investment needs, objectives and financial circumstances. Neither Hastings, nor any of its related parties including Westpac Banking Corporation ABN 33 007 457 141, guarantees the repayment of capital or performance of any of the entities referred to in this document and past performance is no guarantee of future performance. Hastings, as the Manager or Trustee of various funds, is entitled to receive management and performance fees.
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