OFM demutualisation

Over 50s Mutual Friendly Society Limited (OFM Ltd) was a Friendly Society that was a mutual company.

On 12 June 2001, the members of OFM Ltd resolved to demutualise.

On 1 July 2001, OFM Ltd demutualised and shares in OFM Investment Group Limited (OFM) were issued to about 44,500 members.

OFM was listed on the ASX on 26 March 2002.

On 23 March 2004, Royal Assent was granted to amendments to the tax law which extend certain tax concessions to taxpayers who receive shares when a friendly society demutualises. These concessions apply to members of OFM Ltd who received shares when it demutualised.

    Last modified: 06 Oct 2009QC 17549