Easton ready to acquire GPS Wealth
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.
AUTHOR
Oksana Patron
Recommended for you
AUSIEX has announced it will acquire FIIG, a specialist fixed income provider with $4.5 billion in funds under advice.
Platinum Asset Management has announced it is in discussions with a global alternatives fund manager regarding a possible merger to create an $18 billion firm.
JP Morgan Asset Management has appointed an ETF specialist from Vanguard as it seeks to expand its ETF range.
The alternative asset manager has expanded its Singapore office with a head of Asian distribution, representing a “critical step” for the Asian business, where it is seeking to launch new offerings.
