PR Newswire
ST. JULIENS, Malta, April 4, 2025
The Units of Sprott Physical Copper Trust Trade at a Significant Discount to the Net Asset Value Per Unit with Inadequate Liquidity
Andurand Capital Ceases To Rely on the Alternative Monthly Reporting System in Respect of Sprott Physical Copper Trust
ST. JULIENS, Malta, April 4, 2025 /PRNewswire/ --
MORE INFORMATION:
ACML, in its capacity as discretionary investment manager for Andurand Climate and Energy Transition Master Fund (the "Fund"), announces that it has elected to voluntarily cease filing reports under the Alternative Monthly Reporting System ("AMR System") under Part 4 of National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues ("NI 62-103") in respect of Sprott Physical Copper Trust (the "Issuer").
Immediately before and immediately after ACML elected to voluntarily cease filing reports under the AMR System on the date hereof, ACML, on behalf and for the sole benefit of the Fund, exercised control and direction over an aggregate 1,811,957 Units, representing approximately 16.4% of the issued and outstanding Units.
The Units described herein were acquired and partly redeemed in the ordinary course of business for the Fund's investment purposes only and not for the purpose of exercising control or direction over the Issuer. ACML, on behalf and for the sole benefit of the Fund, may further purchase, hold, vote, trade, dispose or otherwise deal in Units or other securities of the Issuer in such manner as it deems advisable, including, without limitation, in order to benefit from changes in market prices of the Units, publicly disclosed changes in the operations of the Issuer, its business strategy or prospects, or from a sale or merger of the Issuer.
ACML may in the future determine to take any available course of action to address the foregoing concern or otherwise, which could involve one or more of the types of transactions or matters, or have one or more of the results, referred to in clauses (a) through (k) of item 5 of the report that ACML, on behalf of the Fund, will shortly file on Form 62-103F2 – Required Disclosure by an Eligible Institutional Investor under Section 4.3 in connection with this press release and in accordance with applicable securities laws (the "Report"), including requisitioning a meeting of unitholders of the Issuer, engaging with unitholders of the Issuer and soliciting proxies, or otherwise.
ACML's registered office is located at The Hedge Business Centre, Level 5, Ir-Rampa ta' San Giljan, Balluta Bay, St. Julian's STJ 1062, Malta.
For further information or to receive a copy of the Report, please see the Issuer's profile on SEDAR+ at www.sedarplus.ca, or contact ACML by phone at +356 2092 7400, Hakon Haugnes, or by email at contact@andurandcapital.com.
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