AUB Group has notified the market that it has issued 428,566 fully paid ordinary shares to sophisticated investors in line with the placement announced by the company on August 25.

AUB Group has approximately AU$3.4 billion GWP across its network of 94 businesses. It serves 700,000 clients and provides over one million policies across over 450 locations.

Yesterday (September 14), AUB Group released a cleansing notice under section 708A(5)(e) of the Corporations Act 2001. It issued the placement shares without disclosure to investors under Part 6D.2 of the Act.

As a result, AUB Group has complied with section 674 of the Act and the provisions of Chapter 2M of the Act as they apply to the company.

“As at the date of this notice, there is no ‘excluded information’ of the type referred to in sections 708A(7) and 708A(8) of the Act,” said David Franks, the joint company secretary of AUB Group.