What is happening?
It is proposed that OneVue Wealth Services Limited ABN 70 120 380 627 AFSL 308868 (OWS) will become the responsible entity of the OneVue Managed Account ARSN 112 517 656 (the Registered Scheme) in place of the current responsible entity OneVue RE Services Limited, ABN 94 101 103 011, AFSL 223271 (OVRE).
Why is this happening?
OVRE is the current responsible entity of the Registered Scheme. Its parent company, OneVue Holdings Limited (ASX: OVH) has entered into a Share Sale Agreement with EQT Holdings Limited ACN 607 797 615 (EQT) for the sale of all the issued shares in OVRE. This share sale is conditional upon the transfer of the Registered Scheme from OVRE to OWS. OWS is also a wholly owned subsidiary of OneVue Holdings Limited.
OVRE proposes to retire from the Registered Scheme and appoint OWS. This is because the Registered Scheme is not being sold to EQT as part of the sale of the shares in OVRE.
What will change?
From an investor’s viewpoint, very little will change with this proposal.
The proposed change of responsible entity will not affect the investments of the investors in the Registered Scheme or the way those investments are managed. By way of summary:
When will the RE change?
This will happen when ASIC updates its register to reflect the appointment of the new responsible entity of the Registered Scheme.
This is expected to occur immediately following the completion of the Share Sale Agreement on or about 29 March 2018. OVRE will lodge a notice with ASIC requesting an alteration to the record of the Registered Scheme’s registration to name OWS as the responsible entity.
However, if sufficient members of the registered scheme reply to the Notice of Change of Responsible Entity issued by post on 6 March 2018 to request a vote, a vote must then be held. If a vote is required, we will send members a voting form by post., which must then be returned to the nominated reply paid address by the nominated date. The outcome of the postal vote will determine whether the change in responsible entity occurs.
Information about the timing of the change in the responsible entity will be shared on onevue.com.au in the Newsroom.
For further information, contact:
1300 790 235
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