WAM Leaders to merge with QV Equities

Geoff Wilson’s WAM Leaders Limited has announced that it has entered into a merger arrangement with QV Equities Limited.

WAM Leaders announced to the Australian Securities Exchange (ASX) that it was proposing to acquire 100% of the shares in QVE through a Scheme of Arrangement under which QVE shareholders will receive new WAM Leaders shares as consideration for their QVE shares.

The announcement said that if the transaction proceeds it will create a single listed investment company with a larger capital and shareholder base with WAM Leaders shareholders benefiting from access to greater on-market liquidity though a larger market capitalisation of almost $20 billion with approximately 30,000 shareholders.

It said that on a pre-tax net tangible asset basis, it is expected that WAM Leaders net assets will increase by approximately $238.8 million as at 8 March.

Commenting on the scheme, WAM Leaders chair and chief investment officer, Geoff Wilson said the board is confident the scheme will deliver benefits to WAM Leaders shareholders by creating a larger capital and shareholder base.

QV Equities was founded in 2014 with the portfolio managed by IML’s Simon Conn and Marc Whittaker.