ASX And Perpetual Agree To Sell ASX Perpetual Registrars To Pacific Equity Partners

Australian Stock Exchange (ASX) and its joint venture partner in ASX Perpetual Registrars Limited (APRL), Perpetual Trustees Australia Limited (Perpetual) have today agreed to sell 100 per cent of APRL to Pacific Equity Partners (PEP) for $132 million. The agreement is subject to PEP securing bank finance, approval for which is well advanced. Settlement is expected by the end of August 2005.

ASX’s accounting profit after tax for its 50 per cent interest is likely to be $9 million. ASX Managing Director and CEO Tony D’Aloisio said that the agreement brought to a close an important phase in the development of the registry business.

“APRL’s strong foundation based on the OSCAR registry system and a strong management team will enable APRL to continue to enjoy an established market position and APRL’s clients to continue to receive excellent service,” he said.

PEP has been an active private equity investor in Australasia. The new owners and the APRL management team are committed to ensuring an efficient and orderly transition and continuing focus on customers.

ASX advised the market on 27 July 2005 that it was not intending to return capital in the 2005- 2006 financial year beyond normal dividends. That policy will be reviewed in light of this sale and a market update will be provided at the next half-year results.