Centrepoint Alliance Completes Acquisitions of Cairns Wealth, Pinnacle Wealth for AU$3 Million

MT Newswires Live

Jul 02

Centrepoint Alliance (ASX:CAF) said it has completed the acquisitions of the client books and servicing employed advisers of Cairns Wealth and Pinnacle Wealth, with final settlement occurring on July 1, as per the scheduled completion date, according to a Thursday Australian bourse filing.

The company said the aggregate purchase consideration was AU$3 million, with a final aggregate settlement amount of AU$2.9 million, net of annual leave and standard completion adjustments of AU$97,523 relating to three advisers who transferred to Centrepoint Alliance as part of the transaction.

The company's shares rose past 1% in recent Thursday trade.

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