PIA - Antipodes Appointment, Board Transition & Settlement

Key points

• Portfolio transition to Antipodes Global SMID strategy
• Board transition with new appointments
• Continuation of capital management initiatives

Full summary

Pengana International Equities Limited (ASX: PIA) has reached a settlement with Pengana Capital Group Limited (ASX: PCG) and Pengana Capital Limited (PCL), resolving ongoing legal proceedings. The settlement facilitates the completion of PIA's Buy-Back, transition of portfolio management to Antipodes Partners Limited, and a Board transition. Antipodes will manage PIA's portfolio under a Global Small and Mid-Cap (SMID) strategy. New Board members Frank Gooch and Brendan O'Dea will join, while existing members will step down post-Buy-Back. PIA plans to continue paying fully franked dividends and exploring discount management mechanisms.