TCL Entitement Offer

[202433 (Jim Westphal)]

Will SWS be sharing thoughts re TCL’s Entitlement Offer?

[149050 (David McCulloch)]

Hi Jim,

Yes I posted some thoughts on this offer and you can read them here:

TCL Entitlement Offer - How the Public Portfolio would handle this and record the actions in the Portfolio Manager

The Transurban share price was placed into a trading halt earlier last week so that it could undertake an equity raising to support its acquisition of the remaining 49% stake in the WestConnex toll road network from the NSW Government. Whilst TCL is not currently part of the ASX Equal Weighted Public portfolio, this is how we would handle the Retail Entitlement Offer. The Share Rights (TCLR) would be sold at market once they appear in the broker account. This action is consistent with previous…

Regards,

David.