and another acquisition
ASX Announcement Melbourne, Wednesday 11 December 2002 OAMPS acquires Park First Insurance Brokers, Brisbane OAMPS Insurance Brokers Ltd has acquired the general insurance portfolio of Park First Insurance Brokers, Brisbane. The issue of 10,000 OAMPS Ltd ordinary shares and cash satisfied the deposit. The balance of the purchase price will be paid in cash based on retained revenue over 2 years. OAMPS Group CEO, Tony Robinson, announced the acquisition today. “We have been steadily growing our broking division with our new offices at Milton in Brisbane over the last year with the intention of developing the branch into one of the top four brokers in Queensland’s insurance market. The incorporation of the Park Firsteam maintains the momentum we have created. There will be further expansion in Brisbane in this financial year”, said Tony Robinson. Derrick Parkins, Managing Director of Park First Insurance Brokers, said: “It was important that we find the correct partner to move forward with our general insurance brokerage business. OAMPS will greatly assist us to meet the needs of our clients with modern products and appropriate resources”. The staff of Park First Insurance Brokers have moved into the new Brisbane branch office, located at Milton. Expansion in Queensland is a key factor in the plans of OAMPS Insurance Brokers. Brisbane and South-East Queensland offer significant growth opportunities. The Group also has regional offices in Cairns, Innisfail and Townsville with other regional cities being considered in the longer term. OAMPS has 15 branches in regional cities throughout Australia. for further information contact: Charles Green Tel: (03) 94?2 j555
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