ASX:IFL

4 stories mentioning ASX:IFLUpdated 21d ago

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APRA Confirms OnePath Custodians Completes Undertaking

The Australian Prudential Regulation Authority (APRA) confirmed that OnePath Custodians completed all obligations under its court-enforceable undertaking, the prudential watchdog said in a statement on Tuesday.APRA lifted the AU$40 million financial requirement overlay previously imposed on OnePath Custodians, the statement said.APRA accepted the undertaking in July 2024 after OnePath Custodians committed to rectify compliance deficiencies and compensate members impacted by the failure to direct default contributions to a MySuper product.OnePath Custodians is one of four superannuation trustees in the Insignia Financial Group (ASX:IFL).

ASX:IFL

Asia159d ago

Insignia Financial's Acquisition By CC Capital, Affiliates Becomes Legally Effective

Insignia Financial (ASX:IFL) said that the scheme of arrangement for its acquisition by Daintree BidCo, an entity established by CC Capital Partners and its affiliates, became legally effective, according to a Friday Australian bourse filing.It confirmed that it had lodged an office copy of the orders made by the Federal Court of Australia approving the proposed acquisition with the Australian Securities and Investments Commission.The quotation of Insignia Financial shares on the Australian bourse is expected to be suspended from the close of trading on Friday. The scheme is expected to be implemented on April 28.

ASX:IFL

Asia159d ago

Insignia Financial Secures Federal Court Approval for CC Capital Takeover

Insignia Financial (ASX:IFL) has received the Federal Court of Australia's approval for its acquisition by Daintree BidCo, an entity established by CC Capital Partners and its affiliates, under a scheme of arrangement, according to a Thursday Australian bourse filing.The deal is expected to become legally effective on Friday upon lodgment with the Australian Securities and Investments Commission, with trading of the company shares to be suspended the same day, per the filing.Shareholders on record as of April 21 will receive AU$4.80 per share in cash if the scheme becomes legally effective, with the transaction expected to be implemented on April 28, subject to any changes in the timetable, the filing added.

ASX:IFL

Asia162d ago

Insignia Financial Shareholders Vote in Favor of Acquisition by CC Capital

Insignia Financial (ASX:IFL) said its shareholders voted in favor of the proposed acquisition of all of the shares of the company by Daintree BidCo, an entity established by CC Capital Partners and its affiliates, via a scheme of arrangement, according to a Monday Australian bourse filing.The company said 98.65% of the votes cast by its shareholders were in favor of the scheme resolution.The scheme remains subject to Court approval at a hearing on Thursday and certain other conditions precedent, per the filing.Insignia Financial's shares were marginally higher in recent Monday trade, hitting their highest since March 2020.

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