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HUB 24 For personal use only ASX Release : 18th October 2021 HUB24 to acquire Class Limited via Scheme of Arrangement HUB24 Limited ( ASX : HUB ) ( HUB24 ) and Class Limited ( CL1 : ASX ) ( Class ) have today entered into a Scheme Implementation Deed ( SID ) for the acquisition by HUB24 of 100 % of the ordinary shares in Class by way of a scheme of arrangement between Class and its shareholders ( Scheme ) . The proposed transaction is expected to accelerate HUB24's platform of the future strategy , consolidating the Group's position as a leading provider of integrated platforms , technology and data solutions for financial advisers , accountants , private banks , licensees , stockbrokers and their clients . The combined business will provide a compelling and unique competitive advantage and diversification of revenue . HUB24 and Class are highly complementary businesses with a track record of innovation and aligned culture and values , focussed on the delivery of solutions that support professional advisers and accountants to implement investment , tax and strategic advice . By leveraging the combined capabilities there is an opportunity to deliver increased value , efficiency and product solutions for both existing and new customers . It is intended that Class will operate as a business unit within the HUB24 group under the Class brands and leadership team . The details of the proposed transaction are : Class shareholders will receive 1 ordinary HUB24 share for every 11 ordinary Class shares held , plus $ 0.10 per ordinary Class share ( Scheme Consideration ) ¹ The implied total consideration represents a 52.8 % premium based on the 1 - month VWAP for both companies up to 15th October 2021 The acquisition of Class is expected to be 8 % Earnings Per Share ( EPS ) accretive ( excluding revenue synergies and one - off implementation costs ) to HUB24 shareholders by FY23 and deliver cost synergies of approximately $ 2 million p.a. The Class Board of Directors has unanimously recommended that Class shareholders vote in favour of the Scheme , subject to an independent expert concluding that the Scheme is in the best interests of Class shareholders and in the absence of any superior proposal . HUB24 Managing Director Andrew Alcock commented : " We're excited to be announcing the proposed acquisition of Class Limited with the full support of the boards of both companies . Class are market leaders in the establishment , management and administration of wealth and SMSF solutions . The completion of this transaction will combine two exceptionally talented teams with a common purpose to empower better financial futures for Australians and provide a unique range of products and services for financial professionals and their clients . " Level 2 , 7 Macquarie Place , Sydney , NSW 2000 Australia E admin@HUB24.com.au T 1300 854 991 F 1300 781 689 A GPO Box 529 , Sydney , NSW 2001 HUB24.COM.AU