Extension of Top Level Option Agreement

ASX MARKET RELEASE 12 June 2018
Extension of Top Level Option Agreement
Highlights
- The Agency Group Australia’s Exclusive Option Agreement to acquire Top Level Real Estate extended until 11th October 2018
- Management teams to continue working together on the structure of the transaction
- Both businesses to continue to run as standalone businesses
The Agency Group Australia (ASX: AU1) (“The Agency” or “the Company”) wishes to advise its wholly owned subsidiary Ausnet Real Estate Services Pty Ltd, has entered into an extension to the Amended and Restated Binding Option Agreement (“Option Agreement”) (refer to ASX announcement dated 12 February 2018 for further information). A Deed of Variation (“Deed”) has been entered into by Ausnet Real Estate Services and Top Level’s Majority Shareholders under which all parties have agreed the Option Agreement be extended for the period of four (4) months from 11th June 2018 (the date on which the Deed of Variation was executed) until on or before 5pm AEST on 11th October 2018. Under the terms of the Deed, the completion of a raising of no less than $10 million (A Condition Precedent under the Option Agreement) has been extended until 5pm AEST on 11th August 2018 or at a later date agreed to by all parties. The remaining Conditions Precedent under the Option Agreement are now required to be satisfied on or before 5pm AEST 11th October 2018.
About The Agency Group Australia Ltd The Agency Group Australia Ltd consists of a group of successful businesses which deliver finance broking, real estate services, settlement services, property management (2017), project marketing, insurance and financial planning initially to the Western Australian market with an aim to be rolled out nationally. This model has been created to build the core asset being a loan book currently at ~$1.185 billion by cross referring clients between business units. The largest growing referral area has been built on a highly successful and disruptive real estate agency model named “The Agency”. The agents have been referring ~60% of all sales for financing broking. The Agency is aiming to recruit ~100 sales representatives to “The Agency” in Western Australia that will eventually deliver over 1000 property transactions per year with the aim of converting into cross sales for mortgages, settlements and insurance. Each sales representative that joins The Agency not only adds sales activities but also on average bring in a database of ~2000 clients. The Agency’s target is to have ~600 sales representatives nationally. The Company is also backed by Finsure Group, one of Australia’s fastest growing retail finance brokerages with over 1,200 brokers settling over $1 billion a month. Corporate website: www.ausnetrealestateservices.com.au Investors The Agency Australia Ltd Paul Niardone T: +61 08 9204 7955 Media Chapter One Advisors David Tasker / Colin Jacoby T: +61 433 112 936 / +61 439 980 359