Farmcove Investment Holdings completed the acquisition of St Andrew's Australia Services Pty Ltd from Bank of Queensland Limited. (2024)

BANK OF QUEENSLAND LIMITED

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Bank of Queensland Limited

Equities

BOQ

AU000000BOQ8

Banks

Market Closed - Australian S.E. Other stock markets 05:10:26 22/03/2024 GMT			5-day change	1st Jan Change
6.21 ^AUD	-0.64%		+1.64%	+2.14%

03-14	Bank of Queensland Limited Announces Change of Registered Address	CI
03-08	Jarden Research Adjusts Bank of Queensland’s Price Target to AU$5.70 From AU$5.60, Keeps at Neutral	MT

October 27, 2021

Farmcove Investment Holdings entered into an agreement to acquire St Andrew's Australia Services Pty Ltd from Bank of Queensland Limited (ASX:BOQ) (BOQ) for approximately AUD 23 million on October 13, 2020. Under the transaction, BOQ will provide a capped indemnity to Farmcove Investment Holdings (Farmcove) for certain pre-completion matters. In addition, a vendor loan has been agreed between BOQ and Farmcove which will become effective on the completion date. As of August 31, 2020, St Andrew's Australia Services's consolidated total assets are AUD 92 million and total liabilities are AUD 21 million. This transaction is subject to certain conditions, including regulatory approval from APRA and completion is expected to occur before the end of Financial year 2021. As of October 26, 2021, The Australian Prudential Regulation Authority (APRA) has provided Farmcove Investment Holdings with approval to acquire St Andrew's Australia Services. The expected closing date of the transaction is in 1H 2022. As of October 26, 2021, the expected closing date of the transaction is October 28, 2021. Peter Dunne, Elizabeth Henderson and Raj Mathew of Herbert Smith Freehills acted as legal advisor to Bank of Queensland Limited. King & Wood acted as legal advisor to Farmcove Investment Holdings in the transaction.Farmcove Investment Holdings completed the acquisition of St Andrew's Australia Services Pty Ltd from Bank of Queensland Limited (ASX:BOQ) (BOQ) on October 28, 2021.

Latest news about Bank of Queensland Limited

Bank of Queensland Limited Announces Change of Registered Address	03-14	CI
Jarden Research Adjusts Bank of Queensland’s Price Target to AU$5.70 From AU$5.60, Keeps at Neutral	03-08	MT
Bank of Queensland Signs Deal to Sell New Zealand Asset Portfolio	02-02	MT
UDC Finance Limited agreed to acquire New Zealand portfolio of assets of Bank of Queensland Limited from Bank of Queensland Limited.	02-01	CI
BOQ Group Announces Executives Changes	01-28	CI
Bank of Queensland Limited Appoints Andrew Fraser as A Non-Executive Director, Effective February 8, 2024	01-24	CI
Bank of Queensland Limited Appoints Ricky-Anne Lane-Mullins as Company Secretary	01-16	CI
Bank of Queensland Limited Announces Dividend for the One Quarter Ended March 14, 2024, Payable on March 15, 2024	12-18	CI
Australia's prudential regulator updates bank requirements to mitigate rate risks	12-12	RE
Transcript : Bank of Queensland Limited - Shareholder/Analyst Call	12-05
Glass Lewis ESG Controversy Alert: Bank of Queensland	11-22	MT
Bank of Queensland shares fall on dividend cut, profit plunge	11/10/23	RE
Australian shares rise for fifth day as Fed's dovish comments soothe rate woes	11/10/23	RE
Transcript : Bank of Queensland Limited, 2023 Earnings Call, Oct 11, 2023	11/10/23
Bank of Queensland Limited Reports Earnings Results for the Full Year Ended August 31, 2023	10/10/23	CI
Bank of Queensland Limited Estimates Ordinary Fully Paid Franked Dividend for A Period of Six Months Ended August 31, 2023, Payable on November 16, 2023	10/10/23	CI
Not much exciting about Aussie banks as high costs pressure earnings - Macquarie	22/09/23	RE
Bank of Queensland Discontinues CEO Search Process	14/08/23	MT
Higher-than-Expected April Inflation Drags Australian Shares to More than Two-Month Low	31/05/23	MT
Bank of Queensland Enters Enforceable Undertakings with Australian Financial Regulators	31/05/23	MT
Australian shares extend fall after hotter-than-expected inflation data	31/05/23	RE
Bank of Queensland pledges to comply with anti-money laundering laws, manage risks	31/05/23	RE
Bank of Queensland Limited Announces Ordinary Fully Paid Dividend for the Period of Six Months Ended February 28, 2023, Payable on June 1, 2023	30/05/23	CI
Fitch Ratings Assigns AAA Rating to Bank of Queensland's Floating-Rate Bonds	10/05/23	MT
BOQ Reportedly Open to Future Bank Merger Deal	03/05/23	CI

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Company Profile

Bank of Queensland Limited is an Australia-based regional bank. The Company's operating segments include Retail Banking and BOQ Business. The Retail Banking segment provides retail banking solutions to customers through its owner-managed and corporate branch network, third-party intermediaries and virgin money distribution channels. Its Owner-Managed Branches retail and small and medium enterprises (SME) lending, deposits, credit cards and insurance. Its VMA business include digital home loans, deposits, credit cards, insurance and superannuation. The BOQ Business segment includes the BOQ branded commercial lending activity, BOQ Finance and BOQ Specialist businesses. It also provides tailored business banking solutions, including commercial lending, equipment finance and leasing, cashflow finance, foreign exchange, interest rate hedging, transaction banking and deposit solutions for commercial customers. It operates more than 160 branches across Australia.

Sector

Banks

Calendar

16/04/2024 - Q2 2024 Earnings Release

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Ratings for Bank of Queensland Limited

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B-

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Sell

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Mean consensus

SELL

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Last Close Price

6.21AUD

Average target price

5.244AUD

Spread / Average Target

-15.56%

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Stock Bank of Queensland Limited - Australian S.E.
News Bank of Queensland Limited
Farmcove Investment Holdings completed the acquisition of St Andrew's Australia Services Pty Ltd from Bank of Queensland Limited.

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