Posts Tagged ‘COU’

ASX Company News: Count Financial Acquired By Commonwealth Bank

Wednesday, August 31st, 2011

Count Financial Ltd (COU) announces that it has entered into a Scheme Implementation Deed with Commonwealth Bank of Australia (CBA), under which CBA would acquire all of the ordinary shares in Count by a Scheme of Arrangement, subject to shareholder approval and in the absence of a superior proposal.

Barry Lambert, Count Founder and Executive Chairman, and the other members of the Board of Count unanimously recommend that Count shareholders vote in favour of the Scheme, in the absence of a superior proposal emerging and subject to an Independent Expert concluding that the offer is in the best interests of Count shareholders. Subject to these conditions, each Director of Count who holds Count shares intends to vote their shares in favour of the Scheme. Other Lambert Family members who in aggregate hold approximately 20% of Count shares have also indicated to Count that they will vote in favour of the Scheme, subject to no superior proposal being recommended by the Count Board.

Under the terms of the Scheme, Count shareholders will have the choice of receiving A$1.40 cash per Count share, or A$1.40 in CBA shares, based on the volume weighted average price (“VWAP”) of CBA shares on the ASX in the 5 Business Day period ending on the day before the Scheme Meeting date which is presently expected to be in November 2011. In addition, Count shareholders will receive the fully franked dividend of A$0.04 per Count share declared on 15 August 2011, in relation to Count’s second half 2011 results, before the Scheme becomes effective.

The offer consideration of A$1.40 per share to Count shareholders represents:

  • a premium of 32.1% to the unadjusted closing price of A$1.060 on 29 August 2011;
  • a premium of 46.3% to the unadjusted one month VWAP prior to 29 August 2011 of A$0.957;
  • and a premium of 40.4% to the unadjusted three month VWAP prior to 29 August 2011 of A$0.997
  • a premium of 52.2% to the adjusted closing price of A$0.651 on 29 August 2011;
  • a premium of 73.0% to the adjusted1 one month VWAP prior to 29 August 2011 of A$0.573;
  • and a premium of 64.6% to the adjusted1 three month VWAP prior to 29 August 2011 of A$0.602.

www.count.com.au

http://www.traderdealer.com.au/fundamentals/cou

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Dividends: Count Financial Ex Dividend On 11/3/2011

Thursday, March 10th, 2011

Count Financial (COU) will go ex dividend on 11/3/2011. The current dividend payment is 2 cents and it is 100% franked. The record date is 18/3/2011 and the dividend will be paid on 15/4/2011. Based on the full year payment the dividend yield is 6.3%.

*Current Yield: 1.6% Franking: 100% DRP Discount: Not Available

Count Financial

*Yield has been calculated on the closing price on the 27/2/2011. Current yield is based on the current dividend payment only.

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Dividends: Count Financial Ex Dividend On 22/11/2010

Monday, November 8th, 2010

Count Financial (COU) will go ex dividend on 22/11/2010. The current dividend payment is 2 cents and it is 100% franked. The record date is 26/11/2010 and the dividend will be paid on 15/12/2010. Based on the full year payment the dividend yield is 5.9%.

*Current Yield: 1.5% Franking: 100% DRP Discount: Not Available

Count Financial

*Yield has been calculated on the closing price on the 3/11/2010. Current yield is based on the current dividend payment only.

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ASX Company News: Count Financial Acquires Total Financial Solutions

Monday, October 4th, 2010

Count Financial Limited’s (COU) wholly owned subsidiary, Countplus Pty Ltd, has settled its final acquisition before the IPO in December, through the purchase of the operating assets and liabilities of the Total Financial Solutions Dealership (TFSA).

This non accounting based Dealer Group has around $1 billion under management and 70 advisers and complements Count’s accounting based offering. Its head office is located in Sydney and all staff will become new employees of Countplus’ dealership operating company, which will be independently managed and have its own Board of Directors.

TFSA’s advisers are located throughout Australia and have signed new authorised representative agreements with Countplus’ wholly owned AFSL, Compound Investments Limited. As a risk focused Dealer Group one of the benefits of the acquisition includes a life insurance referral agreement to provide specialist advice to clients of Count’s network of approx 750 advisers. This, together with the under insurance currently within the Australian population, should assist TFSA in its future growth objectives.

TFSA was acquired for an enterprise value of $11.5 million and is expected to earn $2.2 million in EBIT on a maintainable basis. This, together with other investees, should result in annual EBIT for Countplus of around $20 million. Two of the main attractions of TFSA are its new business model with advisers and distribution arrangements with its key platform provider, Oasis, that are both innovative and compliant with pending regulatory reforms.

www.count.com.au

http://www.traderdealer.com.au/Fundamentals/cou

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Dividends: Count Financial Ex Dividend On 13/9/2010

Monday, August 30th, 2010

Count Financial (COU) will go ex dividend on 13/9/2010. The current dividend payment is 2 cents and it is 100% franked. The record date is 17/9/2010 and the dividend will be paid on 15/10/2010. Based on the full year payment the dividend yield is 7.4%.

*Current Yield: 1.9% Franking: 100% DRP Discount: Not Available

Count Financial

*Yield has been calculated on the closing price on the 26/8/2010. Current yield is based on the current dividend payment only.

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ASX Company News: Count Financial Acquires Wearne & Co

Wednesday, August 18th, 2010

Count Financial Limited’s (COU) wholly owned subsidiary Countplus Pty Ltd has settled its sixteenth acquisition through the purchase of a 100% interest in Wearne & Co Pty Limited.

This long established accounting business is based in North Sydney, New South Wales and has three Principals whose average age is 47. The firm’s core business is the provision of accounting and business services advice the bulk of which is compliance related with an expertise and strong network of contacts in capital markets and mergers and acquisitions. The business has revenue of approximately $4.8 million per annum and a maintainable EBITAP (EBIT after Principal’s salaries) of $1.42 million.

Consideration is payable in two tranches with the first payment representing 49.9 % which settled yesterday via a cash payment of $1.57 million together with $1.04 million worth of Count shares. Second tranche consideration will be payable at or about the same time as other investees are fully acquired through the issue of Countplus shares in anticipation of the proposed listing of Countplus which is currently scheduled for December 2010.

A significant proportion of the work undertaken by the firm is advisory work, which has a stronger link to the general economic environment than tax and accounting compliance services. As this area has been subdued due to the GFC it is expected that further growth in this area is expected as the wider economy recovers over 2011 and 2012. In addition Wearne’s is proposing to implement a financial services advice offering to its client base for the first time which should also contribute to growth over the medium term.

www.count.com.au

http://www.traderdealer.com.au/Fundamentals/cou

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Count Financial Ex Dividend On 11/6/2010

Monday, May 10th, 2010

Count Financial (COU) will go ex dividend on 11/6/2010. The current dividend payment is 2 cents and it is 100% franked. The record date is 18/6/2010 and the dividend will be paid on 15/7/2010. Based on the full year payment the dividend yield is 5.6%.

*Current Yield: 1.6% Franking: 100% DRP Discount: Not Available

www.count.com.au

*Yield has been calculated on the closing price on the 7/5/2010. Current yield is based on the current dividend payment only.

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Count Financial Ex Dividend On 15/3/2010

Monday, February 22nd, 2010

Count Financial (COU) will go ex dividend on 15/3/2010. The current dividend payment is 2 cents and it is 100% franked. The record date is 19/3/2010 and the dividend will be paid on 15/4/2010. Based on the full year payment the dividend yield is 5.2%.

*Current Yield: 1.5% Franking: 100% DRP Discount: Not Available

www.count.com.au

*Yield has been calculated on the closing price on the 18/2/2010. Current yield is based on the current dividend payment only.

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Count Financial Acquires Payroll Company

Wednesday, February 17th, 2010

Count Financial Limited’s (COU) wholly owned subsidiary, Countplus Pty Ltd is pleased to announce that one of it’s Canberra based investees, Achieve Corporation Pty Ltd (Achieve) has acquired the payroll management assets of CAL CPM Pty Ltd and CAL Consulting Pty Ltd (CAL). The service provided by CAL is virtually identical to the service currently provided by Achieve and as such represents an excellent opportunity to leverage Achieve’s existing systems for contractor payroll management.

The business mix is 100% payroll management and the client base, like Achieve’s, comprises of information, communication & technology consultants retained by the Federal Government.

Achieve founding Principal, Simon Mitchell, stated “that as a result of the significant synergies, systemisation and value added services that can be supplied to CAL clients, it is projected that the acquisition will be earnings per share positive over the short term.”

www.count.com.au

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Count Financial Ex Dividend On 23/11/2009

Tuesday, November 3rd, 2009

Count Financial (COU) will go ex dividend on 23/11/2009. The current dividend payment is 2 cents and it is 100% franked. The record date is 27/11/2009 and the dividend will be paid on 15/12/2009. Based on the full year payment the dividend yield is 5.0%.

*Current Yield: 1.4% Franking: 100% DRP Discount: Not Available

www.count.com.au

*Yield has been calculated on the closing price on the 30/10/2009. Current yield is based on the current dividend payment only.

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