Update on acquisition of subsidiaries of ServTech
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ASX MARKET RELEASE
1 February 2018
UPDATE ON ACQUISITION OF SUBSIDIARIES OF SERVTECH GLOBAL HOLDINGS LTD
• Extension of settlement date to 14 February 2018
• $100,000 initial deposit of the consideration to be paid
The Agency Group Australia Limited (formerly “Ausnet Financial Services Limited”) (ASX: AU1) (Company or The
Agency) refers to its ASX announcement of 14 December 2017 (entitled “Acquisition and Capital Raise”) detailing
the key terms of its proposed acquisition of all of the shares of Sell Lease Property Pty Ltd (ACN 150 537 527),
Value Finance Pty Ltd (ACN 605 296 115) and Complete Settlements Pty Ltd (ACN 604 615 367) (SVT Companies)
– all of which are currently wholly-owned subsidiaries of ServTech Global Holdings Ltd (ASX: SVT) (ServTech).
Settlement of the acquisition was expected to occur on 1 February 2018. The Company and ServTech have agreed
to extend the settlement date for the acquisition from 1 February 2018 to 14 February 2018 in order for all of the
conditions precedent to the acquisition to be satisfied prior to settlement. ServTech has accepted a $100,000
initial deposit of the consideration from The Agency in lieu of granting this extension.
About The Agency Group Australia Ltd
The Agency Group Australia Ltd consists of a group of successful businesses which deliver finance broking, real
estate services, settlement services, property management (2017), project marketing, insurance and financial
planning initially to the Western Australian market with an aim to be rolled out nationally.
This model has been created to build the core asset being a loan book currently at ~$1.1 billion by cross referring
clients between business units. The largest growing referral area has been built on a highly successful and
disruptive real estate agency model named “The Agency”.
The agents have been referring ~60% of all sales for financing broking. The Agency is aiming to recruit ~100 sales
representatives to “The Agency” in Western Australia that will eventually deliver over 1000 property transactions
per year with the aim of converting into cross sales for mortgages, settlements and insurance. Each sales
representative that joins The Agency not only adds sales activities but also on average bring in a database of
~2000 clients.
The Agency’s target is to have ~600 sales representatives nationally. The Company is also backed by Finsure
Group, one of Australia's fastest growing retail finance brokerages with over 1,200 brokers settling over $1 billion
a month.
Corporate website: www.ausnetrealestateservices.com.au
Investors
The Agency Australia Ltd
Paul Niardone
T: +61 08 9204 7955
Media
Chapter One Advisors
David Tasker / Colin Jacoby
T: +61 433 112 936 / +61 439 980 359