Insor worked with Auswide Bank (ASX:ABA) from 2007 when it was Wide Bay

Insor worked with Auswide Bank (ASX:ABA) from 2007 when it was Wide Bay Australia (ASX:WBB) until the beginning of 2016 following the successful achievement of its banking licence and conversion to a bank in the 2nd half of FY16.

The initial brief was to create greater awareness of the Bundaberg based building society. In late 2007, Wide Bay had launched a takeover/merger proposal to another North Queensland building society, Mackay Permanent (MPBS). The Bank of Queensland (BOQ) followed with an over-bid and with “deeper pockets” felt that they could out-trump Wide Bay in a bidding war. The Wide Bay Board were convinced that they were the ‘natural’ buyers of this business and needed to find a way to win the hearts and minds (as well as the pockets) of MPBS shareholders and depositors. The decision was made to work on the PR battle by pointing out the natural relationship between the philosophies of the two building societies and differentiate that from the bank. It was also important to commence an Investor Relations roadshow to try to strengthen the WBB share price and make a cash and scrip takeover more attractive to the MPBS shareholders and depositors.

Currently we work with a number of listed companies in the ASX 200 and ASX 300. We are also working with unlisted companies whose size varies from 20 employees up to 80 employees across all states and in NZ and Hong Kong. Insor has a proven track record of devising simple, cost effective solutions to optimise market engagement so that CEO’s and CFO’s can devote their time effectively to develop strategy and to run their business with minimal interruption. Services Offered Insor can make it happen This may include some of the following: Increasing exposure to both the ‘buy’ side and the ‘sell’ side of the market Assisting with Initial Public Offeringon the ASX including Due Diligence Committee Assistance with Capital Raising Preparation and drafting of Annual reports, Interim reports and Prospectus Media and ASX announcements, Chairman and CEO speeches. Utilisation of networks to facilitate the development of strategic business relationships Arrange and conduct investor ‘Roadshows’ and site visits Drafting results announcements to the ASX

Outcome

The roadshow to key small cap brokers and institutional investors successfully raised awareness of Wide Bay and its historic stellar performance and convinced the market of the synergy opportunities of a successful acquisition of Mackay Permanent. Share price appreciated 10% and following the release of the BOQ IM, Wide Bay renewed its bid with a share scrip and cash offer which over-bid BOQ and required the MPBS Board to recommend acceptance. Following this offer, BOQ walked away and Wide Bay received acceptance from 93% of Mackay shareholders and the remainder were compulsorily acquired. $6m of synergies were delivered in FY09