PIS to merge with Centrepoint Alliance
Professional Investment Holdings (PIH), the parent company of Professional Investment Services (PIS) has announced its intention to merge with listed financial services company Centrepoint Alliance in an all scrip offer.
Centrepoint Alliance is an insurance premium funding company. Post-merger, PIH would become the wealth management arm of the listed group.
The proposed merger would see PIH shareholders hold 80 per cent of the post-merger entity on a fully diluted basis. Centrepoint Alliance's Tony Robinson would be managing director of the merged group.
The proposed merger remains subject to due diligence and regulatory approvals, as well as shareholder support from both companies, but a statement from Centrepoint Alliance said the deal was expected to be completed in July this year.
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