Platinum Asset Management's update on Regal's proposal

Platinum Asset Management Limited (ASX:PTM) has provided an update regarding the non-binding indicative proposal from Regal Partners Limited. Following the rejection of the initial proposal, Platinum has agreed to an initial period of non-exclusive, mutual due diligence with Regal to allow for the potential submission of an improved revised proposal. The Board remains open to considering control proposals from Regal or other third parties, provided they deliver appropriate value for Platinum shareholders.

Platinum Asset Management's Board statement on the engagement with Regal

The Board of Platinum Asset Management Limited has decided to engage in an initial period of non-exclusive, mutual due diligence with Regal following the rejection of their initial proposal. This decision is aimed at allowing Regal to improve the value and terms of its proposal, while also enabling Platinum to assess the absolute and relative value of Regal share consideration and the potential costs and benefits of any combination. The Board emphasizes that it will only progress control proposals if they deliver appropriate value for Platinum shareholders.

Platinum Asset Management's outlook on the engagement with Regal

Platinum Asset Management Limited's engagement in an initial period of non-exclusive, mutual due diligence with Regal reflects the company's commitment to carefully considering any potential revised proposal from Regal. The Board's openness to control proposals from Regal or other third parties, provided they deliver appropriate value for Platinum shareholders, demonstrates the company's focus on shareholder interests. Shareholders are advised that there is no guarantee of further progress in discussions with Regal or the submission of a revised proposal, and the Board will continue to update shareholders in line with its continuous disclosure obligations.