Simpsons Solicitors advised on the back-door listing of insurance industry service provider Stream Group. The transaction was a back-door listing of Stream Group, a $30 million dollar business providing claims processing software and services to insurance companies, through an ASX listed $5 million dollar shell company. Stream Group includes a software division that develops proprietary claims quotation and project management software.
Simpsons Solicitors Special Counsel, Tom Rowe, advised the ASX listed entity on all legal aspects of the acquisition of Stream Group, the ASX Listing Rules, Corporations Act requirements under the takeover rules, shareholder approvals and the prospectus based capital raising.
Stream Group commenced trading on the ASX on 11 April 2014.