InvestSMART

Platinum Asset Management Limited (ASX:PTM)

ALERT: Price-sensitive ASX Announcement for PTM
Current share price for PTM : $0.695 0.025 (3.73%)+
Announcement
Release
1 Oct 2025 8:28AM
Price at Release
$0.670
Full Release
download
Summary
Platinum Asset Management Limited announced the completion of its merger with L1 Capital. This merger involved the acquisition of all shares in L1 Capital in exchange for issuing over 1.65 billion new fully paid ordinary shares in Platinum. As part of this merger, Platinum will change its name to L1 Group Limited and update its ASX ticker from PTM to L1G. Additionally, there are changes in the board of directors, with new appointments and resignations. The issued New Platinum Shares to L1 Capital shareholders are subject to staggered voluntary escrow arrangements extending up to four years. The company's principal place of business has also been relocated from Sydney to Melbourne as a result of the merger.
Key Points
  • Completion of merger between Platinum Asset Management Limited and L1 Capital
  • Issuance of 1,656,937,177 new fully paid ordinary shares
  • Name change from Platinum Asset Management Limited to L1 Group Limited
  • ASX ticker change from PTM to L1G
  • Restructuring of the board of directors
  • Voluntary escrow arrangements for New Platinum Shares
  • Relocation of the principal place of business from Sydney to Melbourne
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.