Commercial in confidence

I appreciate at this stage of our process many are eagerly waiting a decision regarding the preferred bidder.  As yet, this has not been determined. During this stage of a sale process, the bids will also have certain terms and conditions attached to the offer.  Bob and his team will need to ascertain the pros and cons of each offer, aligned with their remit from OneVue/PwC and what’s best for the Madison community.  Please note, these are not mutually exclusive considerations.  As I wrote at the very beginning of this process, Bob and the team at Seaview Consulting have decades of experience in advice and working with advice businesses and licensees.  They acutely understand the nuances of the industry.  The questions and feedback provided by you via the Adviser Panel is also part of the decision criteria and will have been discussed with the bidders.

Also, since the bidders are ASX listed, they are subject to a range of rules of disclosure which is why it has gone a little silent.  When a decision is made, the winning bidder will have to disclose to the ASX and other relevant stakeholders.

Whilst I don’t have any further information to add at this stage, I hope to be able to provide better insight tomorrow morning at the regular 11am update.

Whilst patience can sometimes be difficult in times like this, I would ask you trust in the process we have undertaken thus far.  I will continue to provide daily updates.  Please continue to call, message,email if you have questions. I look forward to seeing you tomorrow at 11am.

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