{"id":6882,"date":"2010-06-28T09:43:45","date_gmt":"2010-06-27T23:43:45","guid":{"rendered":"https:\/\/riskinfo.com.au\/news\/?p=6882"},"modified":"2020-02-06T08:10:35","modified_gmt":"2020-02-05T21:10:35","slug":"piscentrepoint-merger-confirmed","status":"publish","type":"post","link":"https:\/\/riskinfo.com.au\/news\/2010\/06\/28\/piscentrepoint-merger-confirmed\/","title":{"rendered":"PIS\/Centrepoint Merger Confirmed"},"content":{"rendered":"<p>PIS parent company, <a href=\"http:\/\/www.profinvest.com.au\/\" target=\"_blank\" rel=\"noopener noreferrer\">Professional Investment Holdings<\/a>, and <a href=\"http:\/\/www.centrepointalliance.com.au\/index.php\" target=\"_blank\" rel=\"noopener noreferrer\">Centrepoint Alliance<\/a> have announced\u00a0the completion of a due diligence process and have confirmed\u00a0the\u00a0target implementation date for the merger between the two firms.<\/p>\n<p><!--more-->Centrepoint, an insurance premium funding specialist, says the due diligence process uncovered &#8216;no unanticipated issues,&#8217; but said the final merger agreement had been amended to reflect market movement.<\/p>\n<p>The changes include:<\/p>\n<ul>\n<li>An initial provision to PIH of $7.5 million in funding, with members of CAF joining the PIH Board, while two members of the PIH Board will in turn join the CAF Board<\/li>\n<li>The merger ratio has been amended so that PIH shareholders will hold 75% of the merged group, following a final dividend return to current CAF shareholders prior to the merge<\/li>\n<\/ul>\n<p>The\u00a0firms advise the merger implementation date has been set for 1 January 2011 or earlier, by mutual consent.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>PIS parent company, Professional Investment Holdings, and Centrepoint Alliance have announced\u00a0the completion of a due diligence process and have confirmed\u00a0the\u00a0target implementation date for the merger between the two firms.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6,3],"tags":[],"class_list":["post-6882","post","type-post","status-publish","format-standard","category-dealer-groups","category-general"],"_links":{"self":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/6882","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/comments?post=6882"}],"version-history":[{"count":0,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/posts\/6882\/revisions"}],"wp:attachment":[{"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/media?parent=6882"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/categories?post=6882"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/riskinfo.com.au\/news\/wp-json\/wp\/v2\/tags?post=6882"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}