Elanor Investors Group will seek to resume trading as early as November
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The news: Elanor Investors Group will seek to resume trading on the ASX as early as November after it finalises half-year 2025 accounts and full-year annual reports, along with approval of its $125 million Rockworth Capital Partners investment and Firmus acquisition.
The context: The troubled investment group entered a trading suspension in August 2024 due to delays in the lodgment of its FY24 financial results amid struggles for financial stability and meeting debt obligations.
Elanor published its FY24 results on Friday but still needs to finalise accounts and reports for FY25.
The company is due to hold an extraordinary general meeting for shareholders to vote on the Rockworth investment and the Firmus acquisition in early November. Both transactions are still awaiting regulatory approval.
Rockworth’s committed to invest in $125 million Elanor to help “recapitalise the business and stabilise the balance sheet” and acquire Firmus in late July.
Elanor is also fielding an off-market takeover offer for its Elanor Commercial Property Fund with the board recommending shareholders to reject it.
Prospective acquirer Lederer Group has expressed concerns that Elanor could be seeking to become a “pan Asian funds manager”, although this has been denied by Elanor.
Elanor also expects to complete the appointment of a new CEO in or around late November.
The source: ASX
