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Centrepoint Alliance Ltd Proposes Transaction To Increase Holding In Partly-Owned Financial Services Business


Thursday, 20 Jun 2013 04:48am EDT 

Centrepoint Alliance Ltd announced that it has entered into a Merger Implementation Deed, which sets out the proposed terms and process of an offer to acquire the remaining shares in Associated Advisory Practices Limited (AAP) and Associated Advisory Practices (No 2) Limited (AAP2) by way of two Schemes of Arrangements. CAF currently owns 55% of both AAP and AAP2 through holding in Centrepoint Wealth Pty Ltd. The Merger Implementation Deed for each Scheme is attached to this announcement. The proposed terms of the acquisition are as follows a scrip for scrip offer where AAP shareholders will receive 1.25 CAF shares for each AAP share and AAP2 shareholders will receive 1.16 CAF shares for each AAP2 share. 50% of CAF shares received to be escrowed for 18 months and 50% of CAF shares received to be escrowed for 24 months. Assuming all necessary approvals are received, CAF expects the acquisition to be completed by August 30, 2013. 

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29 May 2015