Lion
Management
Lion Selection Group is managed under a Management Agreement with sole purpose, specialist investment manager Lion Manager Pty Limited
Lion Manager Pty Limited is a specialist mining investment team that provides investment management services to Lion Selection Group.
- Investment team has extensive mining industry experience and network, which enables a rapid assessment of investment opportunities.
- Sole purpose manager – focused exclusively on managing the investments of Lion Selection Group.
All exits: profit (loss) and multiple
Multiple on cost
Pre-tax profit/loss
Management agreement
Lion Selection Group entered into a Management Agreement with Lion Manager, under which Lion Manager provides the Company with management and investment services. These arrangements were approved by shareholders at Lion Selection Group’s AGM on 5 December 2012, with ongoing management fees of 1.5% p.a. based on the direct investments under management. There is an incentive applicable which would apply where Lion’s performance outperforms a benchmark. In addition, up to a 12 month termination fee may be applicable should Lion Selection Group seek to terminate the management agreement. Further details of the Management Agreement are set out in the Notice of Meeting for the 2012 AGM.
Hedley Widdup
Hedley Widdup graduated as a geologist with first class honours from the University of Melbourne in 2000. Upon finishing his degree, Hedley joined WMC Resources as a geologist working at the Mt Keith Nickel Mine. Hedley has extensive mine and resource geology experience spanning WMC Resources at the Mt Keith Nickel Mine, Olympic Dam, Mt Isa and St Ives Gold Mine before joining Lion Manager in July 2007.
Hedley completed a Graduate Diploma in Applied Finance in 2011, and became an Executive Director of Lion Manager Pty Limited in September 2012.
Hedley was previously a Non-Executive Director of EganStreet Resources Limited and Kasbah Resources Limited, and is a Non-Executive Director of Erdene Resource Development Corp.
Craig Smyth
Craig Smyth graduated from the Victoria University of Wellington with a Bachelor of Commerce and Administration and completed his Masters of Applied Finance at the University of Melbourne. Craig’s financial background includes Coopers & Lybrand, Credit Suisse First Boston (London) and ANZ Investment Bank. Craig is a member of the Institute of Chartered Accountants of Australia and New Zealand.
Craig is an Executive Director of Lion Manager Pty Ltd.