Completion of VPC Transaction

Pacific Current Group Limited (ASX:PAC) has successfully completed a condition precedent related to the sale of a portion of its interests in Victory Park Capital Advisors, LLC. to Janus Henderson Group. The completion of this condition results in PAC receiving US$21.7m of net cash and US$7.2m of JHG stock. Upon full completion of the initial sale process, which is expected before 31 December 2024, PAC will receive an additional US$1.4m of net cash and US$0.5m of JHG stock.

Executive Commentary

We are pleased to have reached this significant milestone in the VPC transaction. The completion of this condition precedent demonstrates our commitment to executing the sale process efficiently and in the best interest of our shareholders. We look forward to the finalization of the initial sale process and the additional benefits it will bring to PAC. This transaction aligns with our strategic objectives and will further enhance our ability to deliver value to our shareholders, investors, and partners.

Summary

Pacific Current Group (ASX:PAC) has successfully completed a condition precedent related to the sale of a portion of its interests in Victory Park Capital Advisors, LLC. to Janus Henderson Group. The completion of this condition results in PAC receiving US$21.7m of net cash and US$7.2m of JHG stock, with the expectation of receiving an additional US$1.4m of net cash and US$0.5m of JHG stock upon full completion of the initial sale process before 31 December 2024. This transaction aligns with PAC's strategic objectives and demonstrates its dedication to delivering value to its stakeholders. Looking ahead, PAC aims to continue leveraging its resources to excel in the asset management industry and create value for its shareholders, investors, and partners.