DGAP-News: Bancorp Wealth Management New Zealand Ltd.

DGAP-News: Bancorp Wealth Management New Zealand Limited: BANCORP ACQUIRES LEADING TRANSPORT SPECIALIST

DGAP-News: Bancorp Wealth Management New Zealand Limited / Key word(s): Investment/Miscellaneous Bancorp Wealth Management New Zealand Limited: BANCORP ACQUIRES LEADING TRANSPORT SPECIALIST

01.09.2016 / 20:18 The issuer is solely responsible for the content of this announcement.

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BANCORP ACQUIRES LEADING TRANSPORT SPECIALIST Bancorp has acquired one of New Zealand's leading specialist freight transport operators. The business operates nationwide and has been doing so for over 50 years.

"The acquisition will add around $6 million in revenue to Bancorp in the first full year of ownership." Bancorp's Managing Direct, Craig Brownie said.

The business will be the first or a series to be acquired by Bancorp's new Limited Partnership fund - Castlerock LP. The Partnership will be managed by Castlerock LP Management limited a subsidiary of Bancorp Capital.

Craig Brownie stated: "There will be no changes to staff or how the business interacts with customers. We plan on purchasing more businesses that hold a strong market position, have good operating history and long term viability"

The full financial impact of the business acquisition will flow through into the 2017 financial year and be EPS positive from day one.

The new Limited Partnership will be the first of its kind in New Zealand offering quarterly valuations, distributions and liquidity for investors.

For further information go to: www.bancorp.co.nz

About Bancorp The Entry Standard listed Bancorp Wealth Management New Zealand Limited (ISIN: NZBWME0001S2) is active in two divisions, Asset Management and Private Banking. The Group's main strategic focus in asset management is in Aviation. It holds equity investments in the field of insurance brokerage, aviation financing and aviation-related companies.



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01.09.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

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