Get notifications in real-time for staying up to date with content that matters to you.
The founders of aggregation group AFG have failed to regain control of their company with minority shareholders refusing to sell up their share of the company.
Only a handful of small shareholders holding 0.1 per cent of AFG’s capital took up the aggregator’s buyback offer, The Age reported today.
When AFG launched the buyback offer last month it had hoped to acquire up to 26 per cent of capital, which would have returned outright control to the group’s founders – Brett McKeon, Malcolm Watkins, Kevin Matthews and Bradley McGougan – who currently own 74 per cent.
Macquarie Group continues to own 10 per cent of AFG while Allianz and Tower each hold 5 per cent each. The remainder of the group is held by current and former staff.
Who do you aggregate through?
Thank you for your vote, you can see the results here.
Cashback offers driving new consumer behaviour
More borrowers are looking at refinancing to take advantage of sh...
FBAA warns against volume-based incentives
The Finance Brokers Association of Australia has urged lenders to...
Why COVID-19 broking trends are here to stay
Loan Market executive chairman Sam White has commended brokers fo...
The number one magazine for mortgage brokers
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
As Australia tries to keep pace with a rapidly changing business and social landscape in the wake of COVID-19, Momentum Media is leading the way delivering essential content to our communities, writes Alex Whitlock, director of The Adviser.
Receive breaking news direct to your inbox each day
