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Perpetual Limited — M&A Activity 2013
Nov 27, 2013
10538_rns_2013-11-27_4a2ad38b-650d-4200-aef0-cd006b8f6ae6.pdf
M&A Activity
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ASX Announcement
Perpetual welcomes The Trust Company’s shareholder approval
28 November 2013
Perpetual Limited (Perpetual) today welcomed the decision of The Trust Company Limited (The Trust Company) shareholders to vote in favour of the proposal for Perpetual to acquire all of the ordinary shares in The Trust Company by way of a Scheme of Arrangement (Scheme).
Perpetual’s Chief Executive Officer and Managing Director Geoff Lloyd said the vote was a significant milestone for the proposed acquisition.
“I am delighted by the outcome of the vote today which will bring together two highly complementary businesses with a shared fiduciary and service heritage, delivering greater scale and capabilities across each of Perpetual’s three business units.
“Today’s vote approving the scheme will bring us closer to delivering significant benefits for both sets of shareholders, as well as The Trust Company’s clients and employees.
“We are focussed and progressing well with detailed plans for integration.
“Since announcing our Transformation 2015 strategy back in June 2012, we have moved quickly from simplifying and refocusing our three businesses to concentrating on delivering profitable growth. Transformation 2015 has accelerated our ability to undertake disciplined acquisitions that align with our strategy of becoming Australia’s largest independent wealth manager of choice,” Mr Lloyd said.
The second court hearing to approve the shareholder vote will take place on 3 December 2013. The Scheme is expected to be implemented on 18 December 2013.
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For further information, please contact:
Investors:
Media:
Mike Woods General Manager Investor Relations & Group Treasurer Perpetual Limited
David Symons Cato Counsel Tel: (02) 9212 4666 Tel: 02 9229 3449
Angel Place, Level 12, 123 Pitt Street Tel +612 9229 9000 Sydney NSW 2000, Australia Fax +612 8256 1494 GPO Box 4172, Sydney NSW 2001, Australia
Perpetual Limited ABN 86 000 431 827