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MyState Financial and Tasmanian Perpetual Trustees
Moving forward, Stronger Together
10 October 2008
The Boards of MyState Financial and Tasmanian Perpetual Trustees have announced that they will recommend to MyState Financial members and Tasmanian Perpetual Trustees shareholders a proposal for the businesses to merge.
By merging we will create an environment that will expand our product and service offerings, enhance our future growth opportunities and maintain our proud Tasmanian heritage.
Both Boards have unanimously endorsed the merger proposal, which will:
- Create an integrated financial services group with greater combined capacity to pursue growth opportunities in new and emerging markets both in Tasmania and throughout Australia.
- Deliver shareholder value by combining the balance sheet strength of both companies to grow shareholder returns.
- Provide increased scale that will deliver a greater range of products and services to existing and new customers.
- MyState Financial and Tasmanian Perpetual Trustees will move forward, stronger together.
MyState Financial will:
- Remain member focused.
- Continue to provide the services our members enjoy in all existing areas.
- Keep the MyState Financial brand (as will Tasmanian Perpetual Trustees).
- Ensure members are informed as we progress through the proposal to merge.
If approved, eligible members of MyState Financial will receive between 277-285 shares in the combined Group, which based on the closing price of TPX shares on Tuesday 7 October would be valued between $1163-$1197.
Members are encouraged to read the following documents, which provide additional information about the proposed merger. If you have queries, please email merger@mystate.com.au.
For more information on Tasmanian Perpetual Trustees, visit their website at: www.tasmanianperpetual.com.au
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