HHY FUND (HHY)

The unaudited NTA backing of the HHY Fund as at 30 September 2020 (after taking into account taxation on realised and unrealised gains where applicable) was as follows: NTA per unit 5.17 cents (30 September 2020); 5.34 cents (31 August 2020); -3.28 (monthly change %); 5.42 (FYTD change %).

NTA per unit: 5.34 cents (31 August 2020); 4.80 cents (31 July 2020); 11.38 (monthly change %); 9.00 (FYTD change %).

The company lodges its Preliminary Final Report.

The company releases its Share Trading Policy.

The unaudited net tangible asset backing of the HHY Fund as at 31 July 2020 was as follows: NTA per unit: 4.80 cents (31 July 2020); 4.90 cents (30 June 2020); -2.14 (Monthly Change %); -2.14 (FYTD Change %).

The unaudited net tangible asset backing of the HHY Fund as at 30 June 2020 was as follows: NTA per unit: 4.90 cents (30 June 2020); 4.26 cents (29 May 2020); 15.14 (Monthly Change %); -6.62 (FYTD Change %).

Shortly after the closure of the ADIT bid, Aurora processed and paid for all of the acceptances received, except for those of Bentley Capital Limited and Scarborough Equities Pty Ltd (Scarborough) as a consequence of the Interim Orders made by the Takeovers Panel. Whilst Aurora was also ready, willing and able to process and pay for the Bentley/Scarborough acceptances, the Takeovers Panel decision in Keybridge 08R, 09R & 10R allowed Bentley/Scarborough to withdraw from the ADIT bid. Aurora advises that Bentley/Scarborough requested that its acceptance into the ADIT cash bid of 7.0 cents per share for Keybridge, be withdrawn, so that Bentley/Scarborough could accept into a lower bid at 6.9 cents per share. Aurora confirms that ADIT did not draw on the Funding Arrangements with HHY and AFARF to pay for the acceptances received bid under the ADIT bid.

The unaudited Net Tangible Asset backing of the HHY Fund as at 29 May 2020 (after taking into account taxation on realised and unrealised gains where applicable) was as follows: NTA per unit 05/29/2020 4.26 cents; 04/30/2020 3.41 cents; Monthly Change % 24.82; FYTD Change % -18.90.

The unaudited Net Tangible Asset backing of the HHY Fund as at 30 April 2020 was as follows: NTA per unit - 3.41 cents (30 April 2020); 3.15 cents (31 March 2020); 8.32 (Monthly Change %); -35.02 (FYTD Change %).

On 9 April 2020, the Panel received an application from Aurora Funds Management Limited as responsible entity for Aurora Dividend Income Trust, HHY Fund and Aurora Fortitude Absolute Return Funds seeking a review of the Panel's decision to make a declaration of unacceptable circumstances and orders in relation to the affairs of Keybridge Capital Limited. The Acting President has made interim orders staying the initial Panel's orders that granted any person that had accepted into the bid made by Aurora Funds Management Limited as responsible entity for Aurora Dividend Income Trust the right to withdraw that acceptance. However, during the period of the stay, any accepting shareholder may still notify ADIT of its intention to exercise a withdrawal right and give voting directions for any meeting of Keybridge. The interim orders have effect until the earliest of further order of the review Panel or Acting President, the determination of the review proceedings or 2 months from the date of the interim orders. A meeting of Keybridge is scheduled for Friday, 17 April 2020.

The NTA backing of the HHY Fund as at 31 March 2020 was as follows: 3.15 cents (31 March 2020); 4.71 cents (28 February 2020); -33.09 (Monthly Change %) and -40.01 (FYTD Change %).

Aurora Funds Management Limited, in its capacity as responsible entity of the Aurora Dividend Income Trust, advises that the offers made by ADIT under its off-market takeover bid for the ordinary shares in Keybridge Capital Limited closed on Monday, 6 April 2020 pursuant to the terms of those offers. ADIT received acceptances of 21.20% of the ordinary shares in Keybridge. Bentley Capital Limited, who accepted the ADIT offer, has made an application to the Takeovers Panel seeking to have its acceptance reversed.

Aurora Funds Management Limited as responsible entity for the Aurora Dividend Income Trust releases a Second Supplementary Bidder's Statement in relation to the cash offer to acquire the fully paid ordinary shares in Keybridge Capital Limited.

Aurora Funds Management Limited, as responsible entity for Aurora Dividend Income Trust, releases a notice of status of defeating conditions.

On 24 March 2020, Aurora announced that ADIT had freed its bid of all defeating conditions, including the Withdrawal Condition. As such, ADIT's Offer is now 7.0 cents per KBC ordinary share.

ADIT's Supplementary Bidders Statement, dated 5 March 2020, detailed its improved cash consideration of 7.0 cents for each fully paid ordinary share. which which was subject to Keybridge shareholders being granted the ability to withdraw their acceptances from the WAM Active bid. On 13 March 2020, Aurora announced that ADIT had freed its bid of all defeating conditions which included the Withdrawal Condition. As such, ADIT's takeover bid for KBC is 7.0 cents per share.

Aurora has decided that it is in the best interests of unitholders to cancel the Entitlement Offer and refund all amounts to unitholders who participated in the capital raising. All application monies received under the Entitlement Offer will now be refunded in full without interest, pursuant to the terms set out in the Entitlement Offer booklet, with refund transfers commencing from Wednesday, 18 March 2020.

The unaudited Net Tangible Asset backing of the HHY Fund as at 28 February 2020 (after taking into account taxation on realised and unrealised gains where applicable) was as follows: NTA per unit - 4.71 cents (28-Feb-2020); 5.78 cents (31-Jan-2020); -18.60 (Monthly Change %) and -10.34 (FYTD Change %).

In order to maintain the status quo, the Acting President of the Panel has ordered that Aurora Funds Management Limited as responsible entity for the Aurora Dividend Income Trust (ADIT) must not take any steps, or allow any steps to be taken, to process any acceptances or transfers received from Bentley Capital Limited or Scarborough Equities Pty Limited in relation to ADIT's bid for Keybridge. ADIT offered to provide an undertaking but for process and technical reasons the Acting President made the interim orders. The interim orders have effect until the earliest of further order of the Acting President or the Panel, determination of the proceedings or 2 months from the date of the interim orders.

ADIT declares bid for KBC free from defeating conditions.

The Panel has received an application from Keybridge Capital Limited in relation to its affairs. Keybridge seeks final orders including: declaring that WAM Active has not properly freed its bid from a defeating condition for the purpose of section 650F; declaring that Keybridge shareholders who accepted the WAM Active bid on or after 25 February 2020 have their acceptances cancelled (and any processing and transfers which have occurred to date be reversed); entitling Keybridge shareholders who accepted the WAM Active bid before 25 February 2020 be provided with at least one month's notice of withdrawal rights, or alternatively that such acceptances should be cancelled; and requiring WAM Active to release an announcement in such form as the Panel determines correcting any misleading statements made by it in relation to the status of its bid.

In order to maintain the status quo, the Acting President of the Panel has ordered that WAM Active must not take any steps, or allow any steps to be taken, to process any acceptances received under, or any transfers in relation to, WAM Active's bid for Keybridge. The interim orders have effect until the earliest of further order of the Acting President or the Panel, determination of the proceedings or 2 months from the date of the interim orders.

Aurora Funds Management Limited gives notice that on 6 March 2020, it dispatched its Bidder's Statement dated 7 February 2020 and Supplementary Bidder's Statement dated 5 March 2020 in relation to its takeover bid for all of the ordinary shares in Keybridge Capital Limited. The Bid is open for acceptance and ADIT encourages Keybridge shareholders to accept the Bid as soon as possible, noting however that the Bid currently remains conditional. The Bid is currently scheduled to close at 7.00pm (AEST) on 6 April 2020, unless extended or withdrawn.

The company releases an updated bidder's statement in relation to the cash offer to acquire all fully paid ordinary shares in KBC by Aurora Funds Management Limited as responsible entity for the Aurora Dividend Income Trust at a bid price of 6.6 cents cash per KBC share.

The company releases a supplementary bidder's statement in relation to the cash offer to acquire all of your fully paid ordinary shares in Keybridge Capital Limited by Aurora Funds Management Limited as responsible entity for the Aurora Dividend Income Trust.

Aurora Funds Management Limited, in its capacity as Responsible Entity for the HHY Fund, announces the closure of its Institutional Entitlement Offer to raise up to $3.25 million. No funds were raised under the Institutional Entitlement Offer, which is now closed. All HHY unitholders will be able to participate in accordance with the same timetable as the Retail Entitlement Offer.

Aurora Funds Management Limited, as responsible entity for the Aurora Dividend Income Trust, announces that it proposes, if certain conditions are satisfied, to vary its off-market takeover bid for the fully paid ordinary shares in Keybridge Capital Limited by increasing the cash consideration offered from 6.6 cents to 7.0 cents for each fully paid ordinary share. ADIT's Initial Bid is 6.6 cents cash per KBC share. However, ADIT will increase its bid to 7.0 cents cash per KBC share on the condition that Target shareholders are able to withdraw their acceptances from the WAM Active takeover offer dated 3 January 2020. All other conditions in the Initial Bid, as announced on 8 January 2020, remain the same.

The company lodges its Half Yearly Report and Accounts.

In order to ensure all institutional holders may participate in the Entitlement Offer in full, HHY has varied the offer terms as follows: the closing date of the Institutional Entitlement Offer has been extended to 7.00pm AEST on Monday, 2 March 2020; the Record Date has been extended to 7.00pm AEST on Tuesday, 3 March 2020; and to require the appointment of a nominee to acquire New Units that Ineligible Unitholders would have been entitled to acquire, had they been eligible to participate in the Entitlement Offer. As a result of the above changes, the Retail Entitlement Offer will open on 5 March 2020 and close on 16 March 2020.

The Panel has received an application from WAM Active Limited in relation to the affairs of Keybridge Capital Limited. WAM Active seeks an interim order permitting WAM Active to extend its bid for the duration of the Panel proceedings without withdrawal rights.

Aurora Funds Management Limited (Aurora) as the responsible entity of HHY Fund requests that a voluntary suspension be extended by the Australian Securities Exchange with respect to its securities pending completion of the proposed capital raising referred to in the trading halt lodged on Tuesday 25 February 2020. The voluntary suspension is requested until the earlier of the provision of an announcement to ASX on completion of the capital raising or prior to the commencement of trading on Tuesday, 3 March 2020.

The securities of HHY Fund will be suspended from quotation immediately under Listing Rule 17.2, at the request of HHY, pending the release of an announcement regarding the proposed capital raising.

name changed from Hastings High Yield Fund