3 October 2008
AIMS Financial Group acquired 78.84% of Australia Pacific Exchange Limited. he new Board consists of Mr Ray Schoer (Independent Chairman), Mr George Wang (Deputy Chairman), Mr Greg Bundy (Vice Chairman), Mr Eric Barr (Independent Director) and Mr James Tong (Managing Director).
In his capacity as the new Managing Director, Mr Tong commented "AIMS Financial Group brings with it the financial support required for APX to continue developing its existing business strategies and to invest for the future. With its strong and deep commercial relationships in Asia and China, AIMS also opens up potential new business opportunities for APX in the Asia Pacific region particularly
in China".
The immediate priority for the new management is to ensure "business as usual" for APX and its current stakeholders, said Mr Tong. There will be no change to APX's current strategy of providing quality services to listees where price transparency is of a high priority and appropriate liquidity can be provided by the market. At the same time, the board and management will be actively assessing growth opportunities in Asia and particularly in China going forward.