Takeover offer

Much has happened since the last post. Once word got around that we were closing down operations, a number of individuals and organisations expressed interest in taking over the company.

We conducted an auction to achieve the best result for shareholders and the listed Australian Ethical Investment Ltd (and our former subsidiary) was the winner from this process. Much has been achieved to prepare for the takeover of August Investments; all capital has been paid out to shareholders, though there is still a dividend to be paid. Australian Ethical will pay their bid price to all shareholders on a pro rata basis once the final clean up of our affairs is completed.

Our shareholders at two General Meeting have voted unanimously to support this process.