Was just doing some googling to find out who Sargon is. There main trading business is Trustee Partners. According to their website
"Trustee Partners was formed in 2016 by technology entrepreneurs, in partnership with veterans of the Australian financial services industry, backed by significant global investors. Trustee Partners has acquired Australian financial services firms, Tidswell Financial Services Ltd and Linear Asset Management Ltd. In 2017 Trustee Partners made a strategic investment in The Hong Kong Trust Company and The New Zealand Trust Company further expanding its operations across the Asia Pacific region."
"Trimantium Capital managing director Phillip Kingston and a team of technology and superannuation industry heavyweights have raised $100 million from Australian and US fintech investors to launch a new tech-focused business that will provide compliance, administrative or supervisory services to superannuation funds.
The new trustee services business – which is likely to be named Trustee Partners – will be a challenger to more established players such as Equity Trustees and financial services firms such as Diversa and Mercer.
Unlike most players in the space, the new business will service self-managed superannuation funds as well as retail, industry and corporate funds.
Most of the capital raised will be dedicated to funding acquisitions to grow a good market share. It has already acquired Tidswell Financial and the trustee division of Linear Financial Holdings, and by the end of the year Mr Kingston said it intended to make some larger acquisitions so that the firm would have $20 billion in funds under trusteeship."
You can read the whole article. It is short. Though we can take it that if they have 100 million dollars they didn't acquire a 19% stake for shits and giggles. Rather they are going to gobble us all up or i think they will use us as a reverse takeover. To not only acquire a complementary business though provide them with listing on the asx and increase liquidity for those early invested. Enabling them to crystallises there potential profits opposed to a private vehicle.
Have a read of the article and would love to hear others thoughts. Hopefully with the dividend being announced this month and full year report due out soon. The company can shed some light on this potential dealing. Because at the end of the day the two founders from both Sequoia and Interpac sold some of their shareholding to Sargon. So there must be a plan behind it.
Cheers, Gijoe
SEQ Price at posting:
32.5¢ Sentiment: Buy Disclosure: Held
