Perpetual wins TRU vote

The shareholders of The Trust Company (TRU) voted in favour of Perpetual’s proposal to acquire the business at the group’s Scheme Meeting on Thursday, knocking out rival bids from Equity Trustees and IOOF Limited.

Close to 80 per cent of eligible TRU shareholders voted in favour of the scheme resolution.

A second court hearing to approve the Scheme is scheduled for December 3, TRU said in a statement to the ASX.

Perpetual chief executive Geoff Lloyd said the vote symbolised a significant milestone, which would bring together two highly complementary businesses with a shared fiduciary and service heritage.

“Today’s vote approving the scheme will bring us closer to delivering significant benefits for both sets of shareholders, as well as The Trust Company’s clients and employees,” he said.

 

Leave a Comment

Budget changes and big super’s advice push create tailwinds for advisers, licensees: Humphrey

Budget changes and big super’s advice push create tailwinds for advisers, licensees: Humphrey

The “structural tailwinds” of budget tax changes and big super’s focus on financial advice will help buoy financial advice and licensee businesses for years to come, says Count chief executive Hugh Humphrey. Both Count and fellow ASX-listed Centrepoint Alliance announced full-year results this week that reveal where they expect growth to come from.

Sort content by