Archive for April 2020

Commercial in confidence As I mentioned on our teleconference, we have two bidders actively working through the questions presented in the data room.  The leadership team, PwC and Seaview have spent the day ensuring information and responses have been detailed and represent Madison well.  We believe there is sufficient data for the final bidders to…

Commercial in confidence Today was spent responding to the remaining questions in the data room.  We’ve been working with Bob and his team (alongside PwC) to ensure we have provided accurate and appropriate responses to the myriad of questions being asked (ranging from business logistics to AFSL obligations).  There have been no surprises in the…

Commercial in confidence A note of thanks to John Francis and the adviser panel for the email sent today.  The information you received is balanced and considered.  In my opinion, the facts stated are an accurate representation of the meetings held.  As John mentioned in the email, the Adviser Panel (somewhat like myself) have limited…

Commercial in confidence It was great to see some of you at drinks and in your sporting attire (thanks for getting into the spirit of our Friday drinks).  It’s been a big week for many of you from the stories I’ve been hearing from you.  Thank you for always checking in.  There is no material change…

Commercial in confidence Our meeting with the second interested party was productive and informative.  Most of the questions were about the documents we have provided in the data room and procedural in nature. These were easy to respond to and well received.  The Adviser Panel meeting was directly post the Leadership team session and I’m sure you’ll…

Commercial in confidence Thank you to the advisers who joined our teleconference this morning.  We appreciate you taking the time to dial in and catch up with us.  I understand there isn’t a need to join every week, but we will leave the invitation open until we’ve transitioned to the new owner.  Tomorrow the Adviser…

Commercial in confidence I hope you were able to take time out and recharge over the long weekend. I’m sure there were some Easter egg hunts that were conducted a little differently this year than last. As we continue in social isolation, it is important to look at some of the enforced changes for any…

Commercial in confidence Thank you to those who joined us today for our weekly update on the sale. Today was the original due date for final bids; however, due to the current circumstances we all find ourselves in, this has been extended by a week. This is a positive outcome as it will allow the bidders…