Zeta is an exempted closed end investment company, whose ordinary shares are listed on the Australian Securities Exchange (“ASX”). The business of Zeta consists of investing the pooled funds of its shareholders in accordance with its investment objective and policy, with the aim of generating a return for shareholders with an acceptable level of risk. Zeta has borrowings (“gearing”), the proceeds from which can also be invested with the aim of enhancing returns to shareholders. This gearing increases the potential risk to shareholders should the value of the investments fall.
The company has contracted with an external investment manager, ICM Limited (the Investment Manager” or “ICM”), to manage its investments and for the company secretarial function. Zeta’s general administration is undertaken by ICM Corporate Services (Pty) Ltd. Zeta has a board of non-executive directors who oversee and monitor the activities of the Investment Manager and the other service providers and ensure that the investment policy is adhered to.
Zeta's aim is to maximise total returns for shareholders by identifying and investing in assets and companies where the underlying value may not be reflected in the market price. The company invests in a range of resources entities, including those focused on nickel, gold, copper, oil & gas, bauxite, graphite and base metals exploration and production.
The Directors are responsible for the determination of the company's investment policy and have overall responsibility for the company's day-to-day activities. Zeta has entered into an investment management agreement with ICM Limited, under which ICM provides investment management services including stock selection, portfolio monitoring and research to the company.
Zeta intends to have a mid to long term investment horizon and does not expect to be trading its positions on a frequent basis. Zeta will also work with its investee companies to seek to maximise their value and may make follow-on investments into these companies or increase investment through market purchases as appropriate.
Zeta may acquire majority or minority positions in its target investments. Zeta seeks opportunities which will maximise its ability to contribute as a proactive investor, with a view to actively extracting value for both its own investors and investors in the underlying investee companies. This proactive approach may include taking strategic or full ownership positions in companies, bringing about management change and encouraging strategies to maximise shareholder value and return. Zeta is equally comfortable with owning portfolio investments.
Zeta was listed on the ASX on 12 June 2013. The company invests in resources globally, in both listed and unlisted entities, and is advised by its investment manager, ICM Limited. Zeta was incorporated under the Bermuda Companies Act on 13 August 2012.