Easton ready to acquire GPS Wealth

funds management GPS wealth

3 August 2017
| By Oksana Patron |
image
image
expand image

The minority shareholders in GPS Wealth have accepted Easton Investments' conditional offer to aquire their shares, enabling the company to move to aquire 100 per cent of GPS Wealth, subject to final conditions.

Easton would seek to obtain shareholder approval to issue a maximum of 6.45 million shares at an issue price of $1.55 each, which represented the share component of the purchase price.

The extraordinary general meeting of the company would be held on 4 August and, subject to shareholder approval being obtained, directors would aim to complete the acquisition of GPS Wealth with effect from 10 August.

Post-completion, GPS Wealth’s managing director, Grahame Evans would join the Easton’s board as an executive director and would assume responsibility for the performance of the company’s expanded wealth management operations.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

3 weeks 4 days ago

This verdict highlights something deeply wrong and rotten at the heart of the FSCP. We are witnessing a heavy-handed, op...

1 month ago

Interesting. Would be good to know the details of the StrategyOne deal....

1 month ago

Insignia Financial has confirmed it is considering a preliminary non-binding proposal received from a US private equity giant to acquire the firm. ...

1 week 3 days ago

Six of the seven listed financial advice licensees have reported positive share price growth in 2024, with AMP and Insignia successfully reversing earlier losses. ...

5 days 16 hours ago

Specialist wealth platform provider Mason Stevens has become the latest target of an acquisition as it enters a binding agreement with a leading Sydney-based private equi...

4 days 20 hours ago