Regal Partners significantly reduces stake in PM Capital Global Opportunities Fund

Regal Partners Limited (RPL) has announced a significant reduction in its substantial holding in PM Capital Global Opportunities Fund Limited. The change, dated September 9, 2025, sees RPL's voting power decrease from 10.55% (50,565,867 votes) to 5.15% (24,691,098 votes). This adjustment follows a previous notice given on July 31, 2025.

The reduction in RPL's interest is attributed to the sale of fully paid ordinary shares in PM Capital Global Opportunities Fund by or on behalf of entities including Paul Moore, Horizon Investments Australia Pty Ltd, and Roaring Lion Pty Ltd. The nature of this change is explicitly stated as due to these sales, with no consideration given in relation to the change by RPL.

RPL's present relevant interests now include 10,063,582 fully paid ordinary shares held through Morgan Stanley (custodian) and HSBC Custody Nom (Aust) (sub-custodian), and an additional 14,627,516 fully paid ordinary shares held by Roaring Lion P/L <Roaring Lion Super Fund>. Both interests stem from the terms of converting redeemable preference shares issued as partial consideration for RPL's acquisition of PM Capital Limited, as described in their November 3, 2023, ASX announcement.