News and Announcements
The Agency Group (ASX: AU1) re-evaluates its acquisition opportunities
- Published April 25, 2018 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
KEY TAKEAWAYS:
- The Agency Group Australia Ltd is an assembly of businesses responsible for providing services within the financial sector.
- The company aims to become a national success.
- Recently, the company has terminated a previous offer based on better acquisition opportunities being presented to them.
The Agency Group Australia Ltd is a collection of companies that provide services such as monetary broking, property amenities, community services, project organisation, project promotion, insurance, and monetary preparation. The company is based in Western Australia aims to become a national accomplishment. Thus, the agents of the company have transferred the majority of the sales to monetary broking and aims to increase its number of sales representatives locally and nationally. Furthermore, the company is backed by Finsure Group, an Australian finance brokerage that has recently become highly successful and popular.
The Agency Group Australia (ASX) has terminated their previous acquisition offer. This is due to the company being offered newer acquisition opportunities. The company requires time in order to process the options of the acquisitions made available to them. These acquisitions may offer the company a better footprint in the sales sector and allow the company to acquire a sturdy authority in functioning markets. As a result, the company aims to find the acquisition opportunity that will offer them the best strategy while still improving its agent figures and its contribution to the EBITDA. Hence, the company is in the process of discussing the acquisition prospects given to them in an attempt to replace the preceding arrangements.
About The Agency (ASX: AU1)
The Agency is disrupting the real-estate industry by being the first fully integrated real estate and financial services company. The Company uses property transactions and/or financing events to review and service a client’s complete finance and wealth requirements.
The Agency wishes to raise up to $2 million of additional equity capital via the issue of 100m shares at an issue price of $0.02 per share pursuant to a placement (“Placement”). The Company has the ability to accept oversubscriptions of an additional $1.0m.
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