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Supreme court approves Auswide Bank/Queensland Professional Credit Union merger

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Supreme court approves Auswide Bank/Queensland Professional Credit Union merger

The Supreme Court of Queensland approved the proposedmerger of and , or Your Credit Union.

The Supreme Court approved the merger on May 3 after theplan was approved byYour Credit Union's members in April.

Under the terms of the merger proposal, each Your Credit Unionmember will be entitled to A$4,055 in cash and 696 Auswide Bank shares for eachof their member shares. The scheme consideration is expected to be paid May 19.

As of May 2, US$1 wasequivalent to A$1.31.