ANDURAND CAPITAL FILES EARLY WARNING REPORT FOLLOWING DISPOSITION OF SPROTT COPPER TRUST UNITS
ST JULIANS, ST JULIANS, MALTA, June 23, 2025 /EINPresswire.com/ -- • Andurand Capital Management Ltd. (“ACML”), in its capacity as discretionary investment manager for the Andurand Climate and Energy Transition Master Fund (the “Fund”), today announced that it has filed an early warning report under National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues (the “Early Warning Report”) in respect of its holdings of transferable units (“Units”) of Sprott Physical Copper Trust (the “Issuer”).
• Through a series of transactions between June 4, 2025 and June 20, 2025, ACML, on behalf and for the sole benefit of the Fund, disposed an aggregate of 347,500 Units through the facilities of the Toronto Stock Exchange for aggregate proceeds of USD 2,588,743 (the “Dispositions”, equivalent to CAD 3,542,410). As a result of the Dispositions, the Fund’s beneficial ownership of Units was reduced by more than two percent (2%) of the Issuer’s outstanding Units since the filing of the Fund’s June 04, 2025 early warning disclosure, such that the Fund now exercises control or direction over less than 10% of the Issuer’s issued and outstanding Units and is no longer subject to ongoing early warning or insider reporting requirements in respect of its holdings of Units.
MORE INFORMATION:
Immediately prior to the Dispositions, ACML, on behalf and for the sole benefit of the Fund, exercised control and direction over approximately 1,321,390 Units, representing approximately 12.0% of the then issued and outstanding Units of the Issuer.
Following the Dispositions, ACML, on behalf and for the sole benefit of the Fund, now exercises control and direction over an aggregate of approximately 973,890 Units, representing approximately 8.9% of the issued and outstanding Units.
The Units were disposed of in the ordinary course of business for investment purposes only. ACML, on behalf and for the sole benefit of the Fund, may continue to purchase, hold, vote, trade, dispose of, redeem, or otherwise deal in securities of the Issuer as it deems advisable, depending on market conditions, business developments of the Issuer, and other factors.
As a result of the Dispositions, ACML, on behalf and for the sole benefit of the Fund, now exercises control or direction over less than 10% of the Issuer’s issued and outstanding Units. Accordingly, ACML is no longer subject to ongoing early warning or insider reporting requirements in respect of its holdings of Units.
As of the date hereof, ACML has no specific current plan or future intention to engage in any of the matters listed in clauses (a) through (k) of item 5 of the Early Warning Report. ACML may in the future determine to take any available course of action, which could involve one or more of the types of transactions or matters, or have one or more of the results, referred to in clauses (a) through (k) of item 5 of the Early Warning Report, including requisitioning a meeting of unitholders of the Issuer, engaging with unitholders of the Issuer and soliciting proxies, or otherwise
• Through a series of transactions between June 4, 2025 and June 20, 2025, ACML, on behalf and for the sole benefit of the Fund, disposed an aggregate of 347,500 Units through the facilities of the Toronto Stock Exchange for aggregate proceeds of USD 2,588,743 (the “Dispositions”, equivalent to CAD 3,542,410). As a result of the Dispositions, the Fund’s beneficial ownership of Units was reduced by more than two percent (2%) of the Issuer’s outstanding Units since the filing of the Fund’s June 04, 2025 early warning disclosure, such that the Fund now exercises control or direction over less than 10% of the Issuer’s issued and outstanding Units and is no longer subject to ongoing early warning or insider reporting requirements in respect of its holdings of Units.
MORE INFORMATION:
Immediately prior to the Dispositions, ACML, on behalf and for the sole benefit of the Fund, exercised control and direction over approximately 1,321,390 Units, representing approximately 12.0% of the then issued and outstanding Units of the Issuer.
Following the Dispositions, ACML, on behalf and for the sole benefit of the Fund, now exercises control and direction over an aggregate of approximately 973,890 Units, representing approximately 8.9% of the issued and outstanding Units.
The Units were disposed of in the ordinary course of business for investment purposes only. ACML, on behalf and for the sole benefit of the Fund, may continue to purchase, hold, vote, trade, dispose of, redeem, or otherwise deal in securities of the Issuer as it deems advisable, depending on market conditions, business developments of the Issuer, and other factors.
As a result of the Dispositions, ACML, on behalf and for the sole benefit of the Fund, now exercises control or direction over less than 10% of the Issuer’s issued and outstanding Units. Accordingly, ACML is no longer subject to ongoing early warning or insider reporting requirements in respect of its holdings of Units.
As of the date hereof, ACML has no specific current plan or future intention to engage in any of the matters listed in clauses (a) through (k) of item 5 of the Early Warning Report. ACML may in the future determine to take any available course of action, which could involve one or more of the types of transactions or matters, or have one or more of the results, referred to in clauses (a) through (k) of item 5 of the Early Warning Report, including requisitioning a meeting of unitholders of the Issuer, engaging with unitholders of the Issuer and soliciting proxies, or otherwise
Hakon Haugnes
Andurand Capital Management
+44 20 7536 1700
email us here
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