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  • 23 May 2019 11:04

Trustees Australia Changes Name to Cashwerkz

Change of Parent Company Name Signals Fintech Direction and Significant Growth Opportunity Ahead for the Industry and Investors

Following approval from the shareholders at the 2018 AGM, Trustees Australia Limited will change its company name to Cashwerkz Limited and adopt new ASX ticker code of CWZ on 23 May 2019.

Trustees Australia Limited listed on the ASX in 1987 and in 2017 merged with Cashwerkz Pty Ltd, combining the extensive wealth of experience in a diverse range of ‘traditional’ financial service activities in Trustees Australia with new ‘fintech’ capabilities of Cashwerkz.

Post-merger, the Cashwerkz Group successfully provides the facility to search, manage, transact and report on term deposits and other fixed interest products in an innovative online marketplace. Cashwerkz links multiple banks and investors, in a faster, safer and more efficient way than has been possible. It sets itself apart by never touching investor’s money.

Cashwerkz has the experience, knowledge, insight and the emergence of the neo type marketplace for the investment community. The integration of fintech with the traditional fixed interest deal capabilities is a significant game changer in the fixed interest asset sector where we enable banks and investors to achieve more than ever before.

“The company name change is a reflection on the strategic business activities,” said Mr Hector Ortiz, CEO. “The name change reflects the success to date and intention to continue to deliver innovative solutions for defensive assets for investors, incorporating choice from over 43 Authorised Deposit-taking Institutions.”

The subsidiary company Cashwerkz Pty Ltd, will now be known as Cashwerkz Technologies Pty Ltd. RIM Securities Limited will remain unchanged. The company’s share registry and contact details remain unchanged. Below is an outline of the new structure and corresponding ACN’s.

Change of Redgate Asset Management Company Name

With the renaming of the parent company to Cashwerkz Limited, the existing additional subsidiary, Redgate Asset Management, will be renamed Trustees Australia Limited. This reflects the value of the highly sought after and difficult to obtain corporate identity, the future of which the board will start to review.

The Board will keep shareholders informed of progress and decisions.

Ends

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