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RECORD INVESTMENTS, ALLCO FINANCE COMPLETE MERGER.

AsiaPulse News

| July 03, 2006 | COPYRIGHT 2006 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

SYDNEY, July 3 Asia Pulse - Record Investments Ltd (ASX:RCD) and Allco Finance Group Ltd (ASX:AEQ) have completed their $A3 billion ($US2.22 billion) merger and will now function together as Allco Finance Group.

As part of the merger, which was officially completed on July 1, Record issued 85.23 million shares to Allco shareholders.

Record today said it would issue another 1.64 million shares on September 29 as consideration for the acquisition of Allco (Singapore) Ltd.

Under the merger, Record offered $756 million in scrip for the entire business of Allco, which was Record's largest ...

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Source: HighBeam Research, RECORD INVESTMENTS, ALLCO FINANCE COMPLETE MERGER.

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