Interprac Pty Ltd entered into a sale agreement to acquire Wealth Division from Yellow Brick Road Holdings Limited (ASX:YBR) for AUD 1.9 million on December 27, 2019. The purchase price is payable to Yellow Brick Road in cash in four equal half yearly payments over eighteen months with the first payment due on completion. The total purchase price will be approximately AUD 2.5 million, purchase price is payable to YBR in three equal half yearly payments following the second completion date. If all Yellow Brick Road Wealth advisers transfer on completion, otherwise the purchase price will reduce pro rata for any non transferring revenue streams. The purchase price is subject to other adjustments also. Interprac is making offers of employment to employees of Wealth Division. On March 31, 2020, YBR first completion includes the transfer significant majority of YBR’s current Wealth advisers to become licenced advisers of InterPrac Financial Planning Pty Ltd and following these transferring advisers having entered intoa new agreement with InterPrac and completing an onboarding process. The transfer of employment of two YBR Wealth staff engaged in head office operational and business functions to InterPrac and Payment of the first completion payment to YBR. Second completion includes transfer of remaining YBR Wealth advisers to InterPrac who had not entered into a new agreements with InterPrac by the first completion date, finalisation of the sale of YBR Super, payment of the second completion payment and final cross-referral agreement between the parties. Second Completion of the transaction is scheduled for April 30, 2020. Andrew Corkhill and David Lee Lewes of Cooper Grace Ward Lawyers acted as legal advisor to Sequoia Financial Group Limited.