Class prepares to go public
Following the firm's appointment of three new directors to its board, the chair of Class, Barry Lambert, said the company is now aiming to list in late 2015.
Yesterday, Class announced the appointment of current Class chief executive, Kevin Bungard; former senior director at Microsoft, Kathryn Foster; and former managing director at Stockland, Matthew Quin to the Class board.
Speaking to SMSF Adviser, Mr Lambert said one further appointment to the board is expected in the near future.
“Now that we have our new board in place, our formal due diligence meetings with lawyers and accountants start later this month,” Mr Lambert said.
“We are aiming to list in late 2015 but that is not guaranteed at this time… as at today, I don't see any foreseeable impediments. Obviously there are a lot of regulatory matters to comply with,” he added.
Mr Lambert also said that subject to regulatory consideration, Class intends to have its users and staff as shareholders, as well as external shareholders.