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CENTURIA CAPITAL GROUP — Capital/Financing Update 2006
Jul 2, 2006
64677_rns_2006-07-02_cf42d665-536c-4ec4-b4f1-c18d8b51a2ed.pdf
Capital/Financing Update
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ASX/MEDIA RELEASE
3 July 2006
VIA ELECTRONIC LODGEMENT Australian Stock Exchange Company Announcements Platform
REVERSE MORTGAGE WHOLESALE FUNDING
As foreshadowed in the interim results presentation in February 2006, OFM is pleased to announce that it has established a wholesale funding facility with a leading bank to support the growth of its reverse mortgage business. The facility is subject to standard commercial terms and conditions, including the option for the financier to withdraw funding in the event of a change of control of the company.
While the establishment of the warehouse trust facility is not anticipated to have a material impact on profitability, it will enable the redeployment of capital previously utilised by the reverse mortgage business. Its establishment also enables the company to advance discussions with other entities that may be interested in partnering with OFM so as to leverage our experience and intellectual property in respect of establishing reverse mortgage origination programs.
For further enquiries please contact:
Mr Chris Martin, Managing Director, OFM Investment Group Limited 1800 033 262
Established in 1980, OFM Investment Group Limited is a listed financial services organisation providing a range of financial solutions to Australians to fund lifestyle and living needs. These financial products and services cover a range of investment, insurance, mortgages, and equity release products.
www.ofmig.com.au