Count finally exits loss-making Bentleys WA
Count Limited has finally exited its ownership of Western Australia accounting group, Bentleys WA for just $700,000.
Count announced to the Australian Securities Exchange (ASX) that it had divested the Bentleys WA business for a total consideration of $700,000 “prior to any relevant post-completion adjustments” with the transaction completed on 28 June.
The ASX announcement noted that Bentleys WA incurred an EBITA loss of around $584,000 in the first half of the 2024 financial year.
Count announced in late February that it had entered into a strategic partnership with Fortuna Perth which involved the divestment of 100% of its subsidiary firm Bentleys, Count Limited yesterday said that the transaction had failed to complete.
However, by April, it said count’s proposed divestment of 100% of Bentleys (WA) Pty Ltd to Fortuna Perth Limited has not completed by its cut-off date due to non-satisfaction of the conditions precedent,” the company told the Australian Securities Exchange (ASX).
The statement went on to say that Count was continuing to have discussions with various parties and is “exploring other strategic options including but not limited to the sale of the business”.
Its in existing law.SOCIAL SECURITY ACT 1991 - SECT 1223Ahttps://www.austlii.edu.au/cgi-bin/viewdoc/au/legis/cth/consol_act/ssa1991186/s1223a.html
Can someone point out where, in the Exposure Draft, the Centrelink assessment would be from the start of the pension…
Offer the exit door on these old products, then set a 5 year Centrelink clawback Hammer to the head. Awesome…
Wholesale should be opt in for all clients, and be extended to super advice and risk.
Misses the point. Plus I don't get it. Then SMSF Trustees should also need to sit an exam, AND people…