Fisher Funds casts wider net

Fisher Funds Management Limited

Media Release

4 October 2007

 
Fisher Funds casts wider net with global investment company Marlin

Fisher Funds Management Limited today confirmed that Marlin Global Limited has lodged an investment statement and prospectus for an initial public offer of up to 140 million shares at NZ$1.00 per share.  The offer has already had strong indications of interest from potential investors and sharebrokers.

Marlin will invest the offer proceeds in a portfolio of growth companies selected from approved stock exchanges around the world (excluding New Zealand and Australia), and may include unlisted growth companies.  The investment portfolio of Marlin will be managed by Fisher Funds, a specialist investment manager with a track record of successfully investing in smaller growth company shares.

Fisher Funds has received more than 3,500 responses indicating potential interest of over $40 million from investors invited to register interest in Marlin over the past two weeks.

The IPO includes 70 million shares allocated to NZX Firms on a firm basis for their retail clients.  In addition, due to the level of interest in the IPO from investors and NZX Firms, Fisher Funds has included an oversubscriptions provision for a further 70 million shares.  Investors in the IPO will receive one warrant for every two shares allotted. Both the share and warrants will be listed on NZSX.

Commenting on the IPO of Fisher Funds’ newest listed investment company, Carmel Fisher, Managing Director of Fisher Funds and a director of Marlin said “We were overwhelmed at the level of interest in Barramundi’s IPO last year and investors appear just as enthusiastic about Marlin.”

“Fisher Funds has an investment style that has proven successful for Kingfish, Barramundi and our other growth funds - picking the best growth companies that have potential to drive superior long-term returns. Now with Marlin we can apply our investment process to select a portfolio of 30 to 40 outstanding growth companies from nearly any stock exchange in the world (excluding Australasia). It really is an enormous world of investment opportunity. “

“We are delighted with two high calibre additions to our investment team in Ken Applegate, an experienced global small company fund manager, and Scott Brown, a global small company analyst who will be based in the US. I believe Marlin will provide investors with a portfolio that they would find difficult to build in their own right”.

ABN AMRO Craigs is the Lead Manager and Organising Participant to the IPO.

Clients of NZX Firms can obtain a firm allocation of shares in the IPO from participating NZX Firms. Members of the public can apply for shares from oversubscriptions. Scaling may be applied to oversubscriptions and preferential treatment will be received by holders of shares or warrants in Kingfish or Barramundi, or unitholders in Fisher Funds’ managed funds (as at 5 October 2007).

The offer opens on Monday 8 October 2007 and the closing date for applications is 26 October 2007. Marlin shares and warrants are expected to list on the NZSX on 1 November 2007.

Ends

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