TOWER Reduces Stake in Dealer Group FSP

Hello Everyone,

Today TOWER announced that it has reduced its holding in Financial Services Partners (FSP). I have attached a copy of the media release for your information.

This does not represent a change in TOWER’s overall strategy in Australia which is to build partnerships with you as advisers and dealer groups. We can do that successfully, and we have done so in the past, without maintaining a majority interest in FSP.

FSP has announced a major restructuring of its shareholder base with Babcock & Brown taking a major interest.

We believe these moves will give greater flexibility for FSP in meeting its present strategic objectives. We wish them the best for the future.

Should you have any questions arising from today’s announcement, please don’t hesitate to call me or Jordan Hawke.

All the best,

David Callander
CEO Risk
TOWER Australia Limited

Disclaimer
This document has been prepared to be used by financial planners and advisers only. It is not to be provided to individual clients. The information contained in this document is general information only and cannot be considered to be financial advice. The information does not take account of the investment objectives, financial situation or particular needs of any particular client. To the extent permissible by law, TOWER Australia Limited (ABN 70 050 109 450, AFSL 237848) and its related companies (TOWER) specifically disclaims any liability that may arise for any direct, indirect, incidental, consequential or special damages that may arise from the access to or use of this document. No liability is accepted by TOWER for errors and omissions or for loss or damage suffered as a result of reliance on this document.

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TOWER Australia Ltd
A.B.N. 70 050 109 450
AFSL Number 237848