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AUB GROUP LIMITED — Capital/Financing Update 2021
Mar 30, 2021
64456_rns_2021-03-30_7396c7de-1adf-4a15-9397-5a6c78de2dae.pdf
Capital/Financing Update
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31 March 2021
The Manager Market Announcements Office Australian Securities Exchange Ltd Level 6, Exchange Centre 20 Bridge Street Sydney NSW 2000
FOR RELEASE TO THE MARKET
AUB Group announces completion of sale of Altius Group shareholding to The Riverside Company
AUB Group Limited ( ASX: AUB ), Australasia’s largest equity‐based insurance broker network, today announced that it has completed the sale of its total shareholding in Altius Group Holdings Pty Limited ( Altius ) to The Riverside Company.
AUB Group has received cash proceeds of approximately $57m (this number is net of tax, transaction and other relevant costs and includes AUB Group’s entitlement to pre‐disposal dividends for profits recognised up to the date of sale).
The sale will result in a post‐tax profit on disposal of $10m. This amount will not be reflected in Underlying Net Profit After Tax.
The impact of this transaction on FY21 performance has been factored into previous FY21 earnings guidance.
ENDS
This release has been authorised by the Chairman of the AUB Board.
For further information, contact David Franks, Joint Company Secretary, on +61 2 8098 1169 or [email protected].
About AUB Group
AUB Group Limited is Australasia’s largest equity‐based insurance broker network driving approximately A$3.6 billion GWP, servicing 700,000 clients and over one million policies across more than 450 locations.
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