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GENERATION DEVELOPMENT GROUP LIMITED — Capital/Financing Update 2009
Dec 21, 2009
64973_rns_2009-12-21_d4d9ca1c-ccd1-42d3-b83f-f728b076d03c.pdf
Capital/Financing Update
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ASX / Media Release
AUSTOCK DIVESTS SHAREHOLDING IN REGISTRIES
Date: 22 December 2009
Austock Group Limited (Austock) has today entered into an agreement to sell its 16.7% shareholding in Newreg Pty Limited, the holding company for the Registries Group of companies, for consideration of approximately $8.0 million.
As the owner of the third largest securities registrar in Australia, Newreg provides specialist registry, voting and communication management services to more than 300 organisations.
The initial investment was acquired in May 2007 and then increased in June 2008, for a total cost of $2.52 million.
The transaction is subject to several conditions and Austock anticipates completion and settlement by 31 March 2010.
ENDS
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For further information, please contact:
Jenny Dahlsen Investor Relations Tel: 03 8601 2087 [email protected] Mobile: 0419 339 195
About Austock Group:
Austock Group is an independent, publicly listed diversified investment and financial services group. It has a culture and track record of being prepared to invest to build sustainable returns for its clients and shareholders. Founded in 1991, the company now comprises corporate and securities, private wealth and investment management businesses. Austock has offices in Melbourne and Sydney along with international affiliations. Austock is a Pooled Development Fund that invests in and develops financial services businesses under a tax-efficient structure.