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read moreComputershare buys Canadian share registry provider for $8.5m
Stan Beer
Wednesday, 13 April 2005 06:00
Computershare Limited (ASX:CPU) has announced an agreement to acquire Vancouver based, share registry provider Pacific Corporate Trust Company for $8.5 million.
Pacific Corporate Trust Company is a privately owned regional supplier of share registry services, primarily in British Columbia, Canada. It is the largest regional share registrar in Canada and the 3rd largest overall, with more than 600 clients and a total shareholder base that is close to 600,000 shareholders. The Canadian company reported revenues of approximately $5.1million in
2004.
Computershare's CEO, Chris Morris says, 'This acquisition adds considerable strength to our business on the west coast and consolidates our position as the leading supplier of issuer and shareholder solutions in Canada.'
CPU shares closed up 17c in a heavy day of trading to finish on $5.64.
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