COUNT LIMITED 
By
Thursday, 1 November 2012
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.
Barry Lambert Executive Chairman Countplus Limited Ph:
02 8272 0212
Email: barry.lambert@countplus.com.au
Michael Spurr Chief Executive Officer Countplus Limited
Ph: 02 8272 0223
Email: michael.spurr@countplus.com.au
ASX Announcement - CUP 1 1 November 2012
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