Insignia Financial Ltd (ASX: IFL) announced today that the proposed scheme of arrangement for its acquisition by Daintree BidCo Pty Ltd, an entity established by CC Capital Partners LLC and its affiliates, has officially become legally effective. Insignia Financial, with origins dating back to 1846, is a leading Australian wealth manager, providing financial advice, superannuation, wrap platforms, and asset management services to members, financial advisers, and corporate employers. This development follows the lodgement of office copies of the Federal Court of Australia’s orders, which formally approved the proposed acquisition, with the Australian Securities and Investments Commission (ASIC) on 17 April 2026, in accordance with subsection 411(10) of the Corporations Act 2001 (Cth).
The lodging of these court orders with ASIC means the scheme is now legally binding, paving the way for its final execution. Consequently, Insignia Financial has confirmed that the quotation of its shares on the ASX is expected to be suspended from the close of trading today, 17 April 2026. This suspension is a standard procedural step, signifying the nearing completion of the acquisition process.
The full implementation of the scheme is slated for 28 April 2026. On this date, eligible Insignia Financial shareholders who are recorded as holding shares at 5:00pm (Melbourne time) on the designated Record Date of 21 April 2026 will receive a cash consideration of $4.80 for each Insignia Financial share they hold. The company advised that this timetable remains indicative and is subject to potential change, with any alterations to be communicated via an ASX announcement. The release of this announcement was approved by Adrianna Bisogni, Group Company Secretary, Insignia Financial Ltd.
