Abacus Group Explores Internalisation of Storage King Management
Abacus Group (ASX: ABG) has disclosed that it is holding preliminary talks with Abacus Storage King (ASX: ASK) to assess whether bringing ASK’s management operations in-house would be strategically beneficial. To ensure an objective assessment, the ABG Board has constituted an Independent Board Committee (IBC) tasked with evaluating any proposal that may arise, with a focus on protecting the interests of ABG securityholders. The committee will work alongside a separate, independently formed committee representing ASK to review and discuss any potential proposals.
Should the discussions progress to a formal agreement and the internalisation proceed, both boards have agreed in principle on leadership continuity, with Steven Sewell remaining as Managing Director of Abacus Group and Nikki Lawson proposed as Chief Executive Officer of Abacus Storage King. The talks are still at an early and exploratory phase, with no assurance that any deal will be finalised. Investors do not need to take any steps at this point, and the company has indicated it will continue to update the market in accordance with its disclosure requirements.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au
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Abacus Group Explores Internalisation of Storage King Management
Abacus Group (ASX: ABG) has disclosed that it is holding preliminary talks with Abacus Storage King (ASX: ASK) to assess whether bringing ASK’s management operations in-house would be strategically beneficial. To ensure an objective assessment, the ABG Board has constituted an Independent Board Committee (IBC) tasked with evaluating any proposal that may arise, with a focus on protecting the interests of ABG securityholders. The committee will work alongside a separate, independently formed committee representing ASK to review and discuss any potential proposals.
Should the discussions progress to a formal agreement and the internalisation proceed, both boards have agreed in principle on leadership continuity, with Steven Sewell remaining as Managing Director of Abacus Group and Nikki Lawson proposed as Chief Executive Officer of Abacus Storage King. The talks are still at an early and exploratory phase, with no assurance that any deal will be finalised. Investors do not need to take any steps at this point, and the company has indicated it will continue to update the market in accordance with its disclosure requirements.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au