Elanor Investors Group Approves $125M Recapitalisation, Repays $21M Debt

Strategic Reset and Recapitalisation

Elanor Investors Group has taken a decisive step in its business reset by securing overwhelming securityholder approval for a $125 million recapitalisation led by Rockworth Capital Partners. This recapitalisation is designed to repay existing debt, including the senior secured finance facility and corporate notes, while providing working capital to stabilise the Group’s balance sheet. The move also paves the way for Elanor’s acquisition of Firmus Capital, expanding its strategic alliance and growth potential.

Chairman Ian Mackie highlighted the significance of these approvals, noting that the transactions provide a strong foundation for stabilising and growing Elanor’s Australian operations and expanding into Asia through targeted capital-led growth opportunities. The Group is targeting completion of these transactions by the end of March 2026, subject to regulatory approvals and ASX consent for trading recommencement.

Asset Realisation and Debt Reduction

In line with its strategy to reduce gearing and release capital, Elanor has completed the sale of its co-investment in the Elanor Wildlife Park Fund for $13 million. This asset realisation is part of a broader program aimed at strengthening the balance sheet and improving financial flexibility. Following this sale and the termination of certain management rights, the Group has repaid approximately $21 million of its senior secured facility with Keyview, which remains supportive of Elanor’s broader de-leveraging initiatives.

Leadership and Governance Enhancements

With the recapitalisation advancing, Elanor is progressing a leadership renewal process, actively searching for a new CEO to guide the next phase of growth. Concurrently, the Group is enhancing its corporate governance framework by establishing a separate independent trustee and responsible entity board for its managed funds. This includes restructuring the board of Elanor Funds Management Limited to include a majority of independent directors distinct from the Elanor Investors Group Board, a move aimed at strengthening oversight and investor confidence.

Financial Reporting and Market Outlook

Elanor is preparing to release its half-year 2025 financial results shortly, with full-year 2025 results and the Annual Report expected by the end of February. The Group anticipates completing its half-year 2026 results by late March. Upon satisfying all conditions precedent, including regulatory approvals, Elanor plans to seek ASX approval to recommence trading in its securities, which have been suspended pending these developments.

These milestones collectively signal Elanor’s commitment to stabilising its financial position while positioning for strategic growth, particularly through expanded institutional partnerships and access to Asian capital markets.