SYDNEY, AUSTRALIA: BIR Financial Limited (ASX:BIR) has entered into a conditional Share Purchase Agreement to acquire 100% of the issued capital in Investor Centre Pty Ltd in return for cash and equity in BIR Financial.
In connection with the acquisition and the previously announced acquisition of Capital Financial Planning, BIR proposes to raise capital by way of the issue of Class “A” Redeemable Preference Shares.
The acquisition and the issue of the Preference Shares are subject to shareholder approval and the company obtaining regulatory approvals.
Investor Centre has been in the listed public company marketing area for more than 30 years. It has a data base of more than 40,000 clients which will significantly enhance the reach of BIR’s 100% owned Financial Services and Securities trading company Pulse Markets Pty Ltd.
At completion, the consideration for acquiring all of the issued capital of Investor Centre from the sole shareholder, will be the issue to the Investor Centre shareholder of 11,720,000 fully paid ordinary shares in BIR Financial plus $500,000 in cash. The Consideration Shares will rank equally with the BIR shares on issue.