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Sequoia Financial Group Ltd (ASX:SEQ)

ALERT: Price-sensitive ASX Announcement for SEQ
Current share price for SEQ : $0.110 -0.12 (-52.17%)+
Announcement
Release
23 Mar 2026 9:26AM
Price at Release
$0.230
Full Release
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Summary
Sequoia Financial Group Ltd announced the sale of its subsidiary, InterPrac Financial Planning Pty Ltd, to Conquest Investment Partners for $50,000. The decision followed a strategic review that identified challenges in Sequoia's Licensee Services division, leading to the divestment of InterPrac. Structural, regulatory, and commercial issues were impacting the business's long-term viability. The sale agreement includes conditions such as no material adverse changes and settlement of inter-company loans before completion. Sequoia anticipates that the new ownership will better manage InterPrac's obligations and enable Sequoia to refocus on its core strategic businesses and growth initiatives.
Key Points
  • Sequoia sold InterPrac to Conquest Investment Partners for $50,000.
  • The sale followed a strategic review indicating challenges in Sequoia's Licensee Services division.
  • InterPrac's sale was due to structural, regulatory, and commercial challenges.
  • Conditions precedent include no material adverse changes and settlement of inter-company loans.
  • New ownership expected to manage InterPrac's obligations better.
  • Sequoia to focus on core strategic businesses post-sale.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.