Insignia Financial Ltd (ASX: IFL) today announced that the Federal Court of Australia has officially approved the proposed acquisition of all its shares by Daintree BidCo Pty Ltd, an entity established by CC Capital Partners LLC and its affiliates. The acquisition is proceeding by way of a scheme of arrangement. Insignia Financial, with origins dating back to 1846, is a leading Australian wealth manager. The company provides financial advice, superannuation, wrap platforms, and asset management services to members, financial advisers, and corporate employers. The Court made its orders approving the Scheme on 16 April 2026.
Following the Court’s decision, Insignia Financial anticipates lodging an office copy of the Court orders with the Australian Securities and Investments Commission (ASIC) on Friday, 17 April 2026. This lodgement will mark the point at which the Scheme officially becomes legally effective. Concurrently, the company has also indicated that it will request a suspension of the quotation of its shares on the ASX, effective from the close of trading on Friday, 17 April 2026.
Subject to the Scheme becoming legally effective as expected, the implementation of the arrangement is projected to occur on 28 April 2026. Shareholders of Insignia Financial who hold shares at 5:00pm (Melbourne time) on 21 April 2026, which is the designated Record Date, will be entitled to receive a total of $4.80 cash for each Insignia Financial share held. The company noted that the outlined timetable is indicative only, and all included times and dates are subject to potential change, with any alterations to be announced to the ASX. This announcement was approved for release by Adrianna Bisogni, Group Company Secretary.
