MyState (MYS)

Shares / Stock Code

MYS

Stock Exchange / Sharemarket

ax

MyState (MYS) a non-operating holding company, is a listed diversified financial services group, providing a range of financial products and services to existing and new customers through two wholly-owned subsidiaries MyState Financial (MSF) – the authorised deposit-taking institution and Tasmanian Perpetual Trustees (TPT) – the trustee and wealth management company. Both MyState Limited and MSF are regulated by APRA and MyState Limited was enabled under Tasmanian legislation to own an authorised trustee company, i.e. TPT. TPT continues to be regulated by APRA as a registered superannuation entity (RSE). Both MSF and TPT hold Australian Financial Services Licences issued by ASIC. Investors can trade MyState shares on the Australian Stock Exchange (ASX).

MSF and TPT will initially operate as separate subsidiaries utilising their existing management and organisational structures. It is intended that the Board of MyState Limited will appoint a Managing Director for MyState Limited as soon as practicable after the Implementation Date. MSF and TPT will initially operate as separate subsidiaries utilising their existing management and organisational structures. It is intended that the Board of MyState Limited will appoint a Managing Director for MyState Limited as soon as practicable after the Implementation Date. The company was listed on Australian stock market on 10 September, 2009.

Within the first three years, it is envisaged that MyState Limited Group shared services will be incorporated into MyState Limited. Duplication of corporate functions within the Group will be eliminated over time to ensure cost synergies are met. This may include marketing, human resources, finance, information technology, strategy, risk, compliance and corporate secretariat. MyState Limited will provide these services to MSF and TPT, as subsidiaries, on a cost recovery basis.