Wilson Asset Management’s listed WAM Active fund has cancelled its share purchase plan and will return money to shareholders who participated in the capital raising.
“All application monies already received under the SPP offer will be refunded in full without interest, per the terms set out in the SPP booklet, with refund transfers commencing from Friday, 13 March 2020,” the company said in a statement.
The company said the decision came on the back of the heightened market volatility.
“The intended Placement, which was to be conducted at the same price and under the same terms as the SPP, has also been cancelled.”
The SPP was to raise up to $15m for the SPP and up to $7.5m for the placement.
Shares in the fund closed on Thursday at 99c.
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