Insights

Statement by Tanarra Capital - 17th December 2024

The article published in The Australian Tuesday 17 December by Bridget Carter regarding Tanarra’s intentions for its shareholding in Insignia is entirely and categorically false. No comment was provided by Tanarra prior to the publication of the article.

While Tanarra typically refrains from engaging with speculative press, the assertions made in the Data Room column have the potential to create a false market in Insignia shares. Tanarra has not had any discussions with Bain Capital regarding its indicative and conditional proposal for Insignia, nor encouraged them in any way.

Tanarra’s Long Term Value Fund and its clients are the largest shareholders in Insignia, collectively holding 15.2% of the company.

We regard the Bain proposal as highly opportunistic. We want the Insignia management team to remain focused on the business improvement plan they are in the early stages of delivering.

For future reference, we will not be commenting on any further articles that may appear in the Data Room column on this situation.