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ACUMENTIS GROUP LIMITED — Capital/Financing Update 2016
Oct 5, 2016
64295_rns_2016-10-05_c5be1b44-90e2-4ae5-b5f7-519b763b9175.pdf
Capital/Financing Update
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6[th] October 2016
LandMark White Limited ABN: 50 102 320 329 Level 15, 55 Clarence Street Sydney NSW 2000 GPO Box 3359 Sydney NSW 2001
Telephone: (02) 8823 6300
ASX ANNOUNCEMENT
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Appointment of Enrizen Capital as advisors
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Expansion and acquisition strategy
Appointment of Enrizen Capital
LandMark White Limited (“ LMW ”) is pleased to announce the appointment of Enrizen Capital Pty Ltd (“ Enrizen Capital ”) as an advisor to LMW in relation to an expansion and acquisition strategy.
The Chairman, Mr Glen White said “Over the past year, LMW has delivered on the growth, system improvements and efficiencies to deliver improved earnings for LMW. This work has laid the foundations for LMW to implement an acquisition strategy to deliver further earnings growth while maintaining LMW’s general dividend payout level. We have engaged Enrizen Capital to further develop this strategy. Enrizen Capital is a corporate advisory firm that has a deep understanding of the valuation industry along with the broader property advisory and property services sector.”
Expansion and acquisition strategy
In conjunction with Enrizen Capital, the Board is developing a corporate strategy to achieve further growth for LMW. The focus of this strategy is to:
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increase scale in existing core valuation activities through acquisition and organic growth;
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broaden the revenue base through the acquisition of adjacent property advisory professionals outside of existing valuation activities;
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improve Earnings Per Share and therefore increase dividends; and
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increase shareholder value.
Enrizen Capital Managing Director, Mr Trent Franklin said “LMW has built a reputation as a leading provider of independent valuations and property advice. The work that LMW has put into its systems and people provides the corporate infrastructure for a significant increase in scale. We look forward to assisting LMW with this expansionary strategy. We are in discussions with several target organisations to deliver further revenue and profit growth, and consequently drive increased value for shareholders”.
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Chief Executive Officer, Mr Chris Coonan said “LMW is well placed for future targeted acquisitions and I look forward to the opportunity to realise synergies whilst continuing to drive organic growth across the organisation. The recent appointment of Mr John Wise as Chief Financial Officer provides a wealth of knowledge and expertise in support of our dedication to driving further value creation for our shareholders”.
For further information please contact our Company Secretary as below:
Mr John Wise CFO & Company Secretary [email protected] (02) 8823 6356
About LMW
Founded in 1982 and listed on the Australian Stock Exchange in 2003, LMW has a long and proud heritage of providing independent professional property services to people and companies across Australia.
LMW has over 250 highly-skilled people and offers a wide range of services which includes commercial and residential valuations, research, and property advice with a focus in providing unrivalled property services that minimise the risks to our clients.