Wilson HTM Investment Group shareholders vote to spin-off securities unit
Wilson HTM Investment Group shareholders have voted in favour of spinning off the securities unit. &nbsp;This marks a new era for the firm as a pure fund management company. &nbsp;The buyers, including Deutsche Bank, entered into a $5mn formal sales agreement with Wilson last month and a new board will include representatives from the German Bank.
Wilson HTM Investment Group shareholders have overwhelmingly voted in favour of spinning off the securities unit, marking a new era for the company as a pure funds management firm.

More than 99 per cent of votes cast by eligible investors were in favour of the divestment of the stockbroking and corporate finance arm Wilson HTM, the company said in a statement to the Australian Securities Exchange on Friday. At an extraordinary general meeting in Brisbane shareholders also approved a name change for the listed entity to Wilson Group to reflect the buyout of the securities arm.

Deutsche Bank's James McMurdo, Wilson HTM's Brad Gale and Craigs Investment's Frank Aldridge. Credit: louise kennerley

The buyers, which include management of the securities unit led by Brad Gale, Deutsche Bank and Craigs Investment Partners, entered into a $5 million formal sale agreement with Wilson last month. The deal includes vendor finance of $1 million, a profit share arrangement in fiscal 2016 and 2017 and the potential for deferred tax benefits.

The transaction will see a new Wilson HTM board chaired by Craigs' managing director Frank Aldridge. The board will comprise Wilson HTM employees as well as representatives from Craigs and Deutsche.