IFL - Insignia Financial
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Todays winner!
Greg Canavan of fat tail investment advisory called this way back but I didn't bite.
Not Held
From Market Matters afternoon Report:
Greg Canavan of fat tail investment advisory called this way back but I didn't bite.
Not Held
From Market Matters afternoon Report:
- Australian Retirement Trust upped their stake in Insignia (IFL) +11.11% to over 10%
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Insignia Financial Ltd Receives Indicative Non-binding Proposal from Bain Capital
Insignia Financial Ltd (ASX: IFL) refers to media speculation on 12 December 2024 in relation to potential takeover interest from Bain Capital.
Insignia Financial confirms that, after market close on 12 December 2024, it received from Bain Capital a confidential, preliminary, non-binding and indicative proposal to acquire all of the shares in Insignia Financial by way of a scheme of arrangement (the “Indicative Proposal”).
Under the terms of the Indicative Proposal, IFL shareholders would receive A$4.00 cash per share(adjusted for any dividends paid or payable after the date of the Indicative Proposal).
The Indicative Proposal is expressed to be subject to a number of conditions including satisfactory completion of due diligence on an exclusive basis, execution of a binding scheme implementation agreement, unanimous recommendation from the Insignia Financial Board of Directors and commitment from all directors to vote in favour of the transaction (in the absence of a superior proposal and subject to an independent expert concluding that the transaction is in the best interests of IFL shareholders) and approval of Bain Capital’s Investment Committee.
In addition, any transaction would, if entered into by Insignia Financial, be subject to the approval of the Foreign Investment Review Board and the Australian Prudential Regulation Authority.
The Board of Insignia Financial, together with its financial and legal advisers, is considering the Indicative Proposal to assess whether it is in the best interests of shareholders to engage with Bain Capital. There is no certainty that the Indicative Proposal will result in a binding offer or that any transaction will eventuate.
IFL shareholders do not need to take any action in relation to the Indicative Proposal.
Insignia Financial will continue to keep the market informed in accordance with its continuous disclosure obligations.
This announcement was approved for release by the Board of Insignia Financial Ltd.
-ENDS
i hold IFL
this would crystallize a loss if the deal goes through at the current terms
Insignia Financial Ltd (ASX: IFL) refers to media speculation on 12 December 2024 in relation to potential takeover interest from Bain Capital.
Insignia Financial confirms that, after market close on 12 December 2024, it received from Bain Capital a confidential, preliminary, non-binding and indicative proposal to acquire all of the shares in Insignia Financial by way of a scheme of arrangement (the “Indicative Proposal”).
Under the terms of the Indicative Proposal, IFL shareholders would receive A$4.00 cash per share(adjusted for any dividends paid or payable after the date of the Indicative Proposal).
The Indicative Proposal is expressed to be subject to a number of conditions including satisfactory completion of due diligence on an exclusive basis, execution of a binding scheme implementation agreement, unanimous recommendation from the Insignia Financial Board of Directors and commitment from all directors to vote in favour of the transaction (in the absence of a superior proposal and subject to an independent expert concluding that the transaction is in the best interests of IFL shareholders) and approval of Bain Capital’s Investment Committee.
In addition, any transaction would, if entered into by Insignia Financial, be subject to the approval of the Foreign Investment Review Board and the Australian Prudential Regulation Authority.
The Board of Insignia Financial, together with its financial and legal advisers, is considering the Indicative Proposal to assess whether it is in the best interests of shareholders to engage with Bain Capital. There is no certainty that the Indicative Proposal will result in a binding offer or that any transaction will eventuate.
IFL shareholders do not need to take any action in relation to the Indicative Proposal.
Insignia Financial will continue to keep the market informed in accordance with its continuous disclosure obligations.
This announcement was approved for release by the Board of Insignia Financial Ltd.
-ENDS
i hold IFL
this would crystallize a loss if the deal goes through at the current terms
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Exactly as Greg Canavan far back predicted as likely to happen given IFL's undervaluation (at that time)
Not Held
Market Matters afternoon report:
Not Held
Market Matters afternoon report:
- Insignia Financial (IFL) +6.18% jumped after it received a $4.00 cash per share proposal from Bain Capital to acquire all shares in the business – representing a 17.6% premium to last-close
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Insignia Financial Ltd Receives Indicative Non-binding Proposal from CC Capital
On 3 January 2025, Insignia Financial Ltd (ASX: IFL) received a confidential, non-binding and indicative proposal from CC Capital Partners, LLC to acquire all of the shares in Insignia Financial by way of a scheme of arrangement (the “Indicative Proposal”) at a price of A$4.30 cash per share(adjusted for any dividends paid or payable after the date of the Indicative Proposal), or the potential alternative to roll into unlisted stub equity subject to caps and scale-back.
The Indicative Proposal represents a 7.5% premium to Bain Capital’s non-binding indicative proposal of $4.00 cash per share received on 12 December 2024.
The Indicative Proposal is expressed to be subject to a number of conditions including satisfactory completion of due diligence on an exclusive basis and execution of a binding scheme implementation agreement.
The scheme implementation agreement, if entered into, would be conditional on (amongst other things) a unanimous recommendation from the Insignia Financial Board of Directors and commitment from all directors to vote in favour of the transaction (in the absence of a superior proposal and subject to an independent expert concluding that the transaction is in the best interests of IFL shareholders) and approval from CC Capital’s investment committee.In addition, any transaction would, if entered into by Insignia Financial, be subject to approval of the Foreign Investment Review Board and the Australian Prudential Regulation Authority.
The Board of Insignia Financial, together with its financial and legal advisers, is considering the Indicative Proposal to assess whether it is in the best interests of shareholders to engage with CCCapital.
There is no certainty that the Indicative Proposal will result in a binding offer or that any transaction will eventuate.
IFL shareholders do not need to take any action in relation to the Indicative Proposal. Insignia Financial will continue to keep the market informed in accordance with its continuous disclosure obligations.Insignia Financial has engaged Citigroup and Gresham Advisory Partners as its financial advisers and King & Wood Mallesons as its legal adviser.
This announcement was approved for release by the Board of Insignia Financial Ltd.
-ENDS
i hold IFL ,
if either of these deals go through it will crystallize a loss for me
On 3 January 2025, Insignia Financial Ltd (ASX: IFL) received a confidential, non-binding and indicative proposal from CC Capital Partners, LLC to acquire all of the shares in Insignia Financial by way of a scheme of arrangement (the “Indicative Proposal”) at a price of A$4.30 cash per share(adjusted for any dividends paid or payable after the date of the Indicative Proposal), or the potential alternative to roll into unlisted stub equity subject to caps and scale-back.
The Indicative Proposal represents a 7.5% premium to Bain Capital’s non-binding indicative proposal of $4.00 cash per share received on 12 December 2024.
The Indicative Proposal is expressed to be subject to a number of conditions including satisfactory completion of due diligence on an exclusive basis and execution of a binding scheme implementation agreement.
The scheme implementation agreement, if entered into, would be conditional on (amongst other things) a unanimous recommendation from the Insignia Financial Board of Directors and commitment from all directors to vote in favour of the transaction (in the absence of a superior proposal and subject to an independent expert concluding that the transaction is in the best interests of IFL shareholders) and approval from CC Capital’s investment committee.In addition, any transaction would, if entered into by Insignia Financial, be subject to approval of the Foreign Investment Review Board and the Australian Prudential Regulation Authority.
The Board of Insignia Financial, together with its financial and legal advisers, is considering the Indicative Proposal to assess whether it is in the best interests of shareholders to engage with CCCapital.
There is no certainty that the Indicative Proposal will result in a binding offer or that any transaction will eventuate.
IFL shareholders do not need to take any action in relation to the Indicative Proposal. Insignia Financial will continue to keep the market informed in accordance with its continuous disclosure obligations.Insignia Financial has engaged Citigroup and Gresham Advisory Partners as its financial advisers and King & Wood Mallesons as its legal adviser.
This announcement was approved for release by the Board of Insignia Financial Ltd.
-ENDS
i hold IFL ,
if either of these deals go through it will crystallize a loss for me
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Insignia Financial Notes Press Speculation
Insignia Financial Ltd (ASX: IFL) notes a report in The Australian newspaper overnight concerning speculation that Brookfield is actively weighing a bid for Insignia Financial.Insignia Financial confirms that it has not received any proposal from Brookfield.
Insignia Financial confirms that it is in compliance with the ASX Listing Rules, in particular rule 3.1.Insignia Financial will inform the market if or when there are material matters to disclose, in accordance with its continuous disclosure requirements.
This announcement was approved for release by Scott Hartley, Chief Executive Officer, Insignia Financial Ltd.
About Insignia Financial Ltd
With origins dating back to 1846, today Insignia Financial is a leading Australian wealth manager. Insignia Financial provides financial advice, superannuation, wrap platforms and asset management services to members, financial advisers and corporate employers.
Further information about Insignia Financial can be found at www.insigniafinancial.com.au
i hold IFL
Insignia Financial Ltd (ASX: IFL) notes a report in The Australian newspaper overnight concerning speculation that Brookfield is actively weighing a bid for Insignia Financial.Insignia Financial confirms that it has not received any proposal from Brookfield.
Insignia Financial confirms that it is in compliance with the ASX Listing Rules, in particular rule 3.1.Insignia Financial will inform the market if or when there are material matters to disclose, in accordance with its continuous disclosure requirements.
This announcement was approved for release by Scott Hartley, Chief Executive Officer, Insignia Financial Ltd.
About Insignia Financial Ltd
With origins dating back to 1846, today Insignia Financial is a leading Australian wealth manager. Insignia Financial provides financial advice, superannuation, wrap platforms and asset management services to members, financial advisers and corporate employers.
Further information about Insignia Financial can be found at www.insigniafinancial.com.au
i hold IFL
Good afternoon @divs4ever @finicky
Announcement just popped up... (17/01/25) - see attached
On the morning of 17 January 2025, Insignia Financial Ltd (ASX: IFL) received a revised nonbinding and indicative proposal from CC Capital Partners, LLC to acquire all of the shares in Insignia Financial by way of a scheme of arrangement (CC Capital Revised Indicative Proposal) at a price of A$4.60 cash per share (adjusted for any dividends paid or payable after the date of the CC Capital Revised Indicative Proposal).
edit: year 2025
Kind regards
rcw1
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still would crystallize a loss for me , and i even bought AFTER the Hayne Royal Commission
looks like the brand is very badly damaged
looks like the brand is very badly damaged
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Insignia Financial receives early redemption request for subordinated loan notes, elects to not exercise early repayment
On 3 March 2025, Insignia Financial (ASX: IFL) received a Holder Redemption Request from National Australia Bank (NAB) to redeem $200 million of subordinated loan notes (SLNs) issued to NAB by Insignia Financial.
In accordance with the terms of the SLNs, Insignia Financial has chosen to decline this early redemption request.Insignia Financial issued $200 million of SLNs to NAB in May 2021 as part of the funding package to finance the acquisition of MLC Wealth Limited from NAB.
The SLNs include an equity-linked component under which an Additional Return Amount (ARA) is payable if the volume weighted average price(VWAP) of Insignia Financial shares during the 30 trading days prior to the date of the request exceeds the Reference Price, which at the date of the early redemption request was $3.55.
Under the terms of the SLNs, NAB may request early redemption, in part or full, from 30 November 2024.
Insignia Financial is not obliged to repay any principal or ARA until maturity on 31 May 2026. In the event that early redemption is requested and Insignia Financial does not agree to early redemption,the coupon on the SLNs increases from one percent (1%) to four percent (4%) and the ARA is frozen based on the VWAP of Insignia Financial shares during the 30 trading days to 28 February 2025.
The 4% interest is charged on both the $200 million principal and ARA.
Based on a VWAP of $4.50, the ARA payable at maturity is $53.5 million.
Insignia Financial recognised a derivative financial liability of $37.7 million in relation to the ARA as at31 December 2024.
The remaining $15.8 million fair value adjustment will be recognised in Insignia Financial’s profit & loss in 2H25 and excluded from UNPAT.
The SLN and ARA will be treated as current liabilities at 30 June 2025.
This announcement was approved for release by the Board of Insignia Financial Ltd.
i do not hold this share ( but have in the past )
On 3 March 2025, Insignia Financial (ASX: IFL) received a Holder Redemption Request from National Australia Bank (NAB) to redeem $200 million of subordinated loan notes (SLNs) issued to NAB by Insignia Financial.
In accordance with the terms of the SLNs, Insignia Financial has chosen to decline this early redemption request.Insignia Financial issued $200 million of SLNs to NAB in May 2021 as part of the funding package to finance the acquisition of MLC Wealth Limited from NAB.
The SLNs include an equity-linked component under which an Additional Return Amount (ARA) is payable if the volume weighted average price(VWAP) of Insignia Financial shares during the 30 trading days prior to the date of the request exceeds the Reference Price, which at the date of the early redemption request was $3.55.
Under the terms of the SLNs, NAB may request early redemption, in part or full, from 30 November 2024.
Insignia Financial is not obliged to repay any principal or ARA until maturity on 31 May 2026. In the event that early redemption is requested and Insignia Financial does not agree to early redemption,the coupon on the SLNs increases from one percent (1%) to four percent (4%) and the ARA is frozen based on the VWAP of Insignia Financial shares during the 30 trading days to 28 February 2025.
The 4% interest is charged on both the $200 million principal and ARA.
Based on a VWAP of $4.50, the ARA payable at maturity is $53.5 million.
Insignia Financial recognised a derivative financial liability of $37.7 million in relation to the ARA as at31 December 2024.
The remaining $15.8 million fair value adjustment will be recognised in Insignia Financial’s profit & loss in 2H25 and excluded from UNPAT.
The SLN and ARA will be treated as current liabilities at 30 June 2025.
This announcement was approved for release by the Board of Insignia Financial Ltd.
i do not hold this share ( but have in the past )
Dona Ferentes
Did the Thessalonians write back?
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A bidding war for Insignia Financial, the wealth management group behind MLC, is heating up again after private equity houses Bain and CC Capital raised their bids to $5.00 a share.
Insignia has entered into an exclusivity deed with both parties “in the best interest of shareholders”, the wealth manager said on Friday, with both permitted to conduct due diligence within the next six weeks.
The revised bids represent an 8.7 per cent increase from the $4.60 offers previously made by Bain and CC Capital and values Insignia at around $3.4 billion..
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two fat ladies
Insignia has entered into an exclusivity deed with both parties “in the best interest of shareholders”, the wealth manager said on Friday, with both permitted to conduct due diligence within the next six weeks.
The revised bids represent an 8.7 per cent increase from the $4.60 offers previously made by Bain and CC Capital and values Insignia at around $3.4 billion..
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two fat ladies
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Having previously taken profits on a prescient call to buy IFL, Greg Canavan of fat fail said today this is a opportunity to get back in.
Whereas:
Market Matters afternoon report:
"Insignia (IFL) -15.75% fell hard after Bain Capital withdrew its bid for the wealth manager owing to “macro uncertainty” and volatility in global markets – seems like an excuse. CC Capital remains in the mix to take over the company, but two bidders are better than one!"
Not Held
No plan to buy
Whereas:
Market Matters afternoon report:
"Insignia (IFL) -15.75% fell hard after Bain Capital withdrew its bid for the wealth manager owing to “macro uncertainty” and volatility in global markets – seems like an excuse. CC Capital remains in the mix to take over the company, but two bidders are better than one!"
Not Held
No plan to buy
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crystallized a loss here when i sold @ $4.65 in February 2025
thank goodness i 'averaged down ' January 2022 or i would have crystallized a 50% loss on the original buy
i will probably continue to sit on the sidelines here ( unless something truly special happens .. like it merges with a fund manager i already hold )
thank goodness i 'averaged down ' January 2022 or i would have crystallized a 50% loss on the original buy
i will probably continue to sit on the sidelines here ( unless something truly special happens .. like it merges with a fund manager i already hold )
