Brief: Clime Investment Management Says Exclusive Non-Binding Heads Of Agreement With Madison Financial Group

Clime Investment Management

16/08/2023 02:11

Aug 16 (Reuters) - Clime Investment Management Ltd
 CIW.AX :
    * EXCLUSIVE NON-BINDING HEADS OF AGREEMENT WITH MADISON
FINANCIAL
GROUP AND PRACTICE DEVELOPMENT GROUP
    * AGREEMENT TO FORM A STRATEGIC OPERATING ALLIANCE
    * ALLIANCE WILL CONSOLIDATE RESPECTIVE SERVICE OFFERINGS OF
EACH
GROUP INTO A SINGLE ENTITY
    * COMBINED, LICENSEES WILL HAVE ABOUT A$8 BILLION IN FUA
THROUGH
130 ADVISERS
    * CREATION OF A NEW ENTITY, SERVICE CO
    * CLIME TO PROVIDE "IN KIND" COMMERCIAL SERVICES OVER AN
INITIAL
TWO-YEAR PERIOD FOR A 10% EQUITY POSITION IN SERVICE CO

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