Countplus Ltd : Hood Sweeney Settlement

About this update from Count Limited

ASX ANNOUNCEMENT: CUP Thursday, 1 November 2012 COUNTPLUS ANNOUNCES HOOD SWEENEY SETTLEMENT On 15 October, Countplus announced it had agreed to take a 25 percent strategic interest in the highly successful South Australian professional services firm, Hood Sweeney. The Directors are pleased to advise that settlement of this investment has now completed. Consideration for the investment was a cash payment of $3.75m with further performance based payments over 2 years. The transaction represents the first made under Countplus' new progressive acquisition model, in which an initial minority interest is taken. The model allows Principals to retain a direct interest and can more easily facilitate the entry of new Principals into an equity position, as well as reducing acquisition risk for Countplus. Hood Sweeney is a South Australian professional services firm with 86 staff and offices based in Adelaide, Whyalla and Kadina that provide accounting, financial procurement, wealth management and information technology advice to individuals and small to medium sized business. They have 86 staff members and last financial year had revenues in excess of $16 million. Please refer to the ASX announcements dated 15 October 2012 for further information. For further information please contact: Barry Lambert Executive Chairman Countplus Limited Ph: 02 8272 0212 Email: [email protected] Michael Spurr Chief Executive Officer Countplus Limited Ph: 02 8272 0223 Email: [email protected] ASX Announcement - CUP 1 1 November 2012 distributed by

View stock analysis, news, and events for Count Limited