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Pearlstreet Rejects Proposed CPB Offer
Thursday October 1, 2009, 4:09 pm

Original Announcement: PST Rejects Proposed CPB Offer

Pearlstreet announced that it has rejected the proposed offer by Campbell Brothers for all of the shares in Pearlstreet at 56 cents per share as not being in the best interests of shareholders. After carefully considering both Campbell Brothers' proposal and the recapitalisation proposal from Catalyst Investment Managers, which was announced on 29 September 2009, the Pearlstreet board has concluded that the Catalyst recapitalisation proposal provides a better outcome for all PearlStreet shareholders.

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