ASX Code: SCB

(changed from RFS on 20 May 2005)

 

The principal activity of the Company is the management of its funds for investment.

 

On 12 May 2005, the Company’s name changed to "Scarborough Equities Limited" from "Rivkin Financial Services Limited" as approved by shareholders at a general meeting held on 28 April 2005.

 

Sale of Avcol Stockbroking

On 29 April 2005, Avcol Stockbroking Pty Ltd was sold to IWL Broking Solutions Limited in consideration for $10.4  million ($7.7 million cash and the buy-back and cancellation of 12,539,314 shares in the Company held by IWL.)

 

The Avcol Stockbroking website can be accessed at www.avcol.com.au

 

2004

Rene Rivkin sold his interest in the Company in June 2004 and the current Board was appointed on 29 November 2004. Rene Rivkin no longer has any association with the Company.

 

On 9 December 2004, the Company appointed FSP Equities Management Limited (FSP) as Investment Manager to manage the Company’s investment funds for an initial term of two years.

 

2001

On 31 January 2001, shareholders approved, amongst other matters, the acquisition of Avcol Stockbroking Pty Ltd (then known as Rivkin Discount Stockbroking Pty Ltd) from well known investor, Mr Rene Rivkin, and the change of name (to Rivkin Financial Services Limited), status (from a public no liability company to a public company limited by shares) and activities (from mining and exploration to financial services and stockbroking) of the company. On 8 March 2001, the Company raised $21 million to finance the development of the stockbroking business and financial services activities.

 

After completion of these matters Rene Rivkin and his team joined the Board of the Company.

 

During the course of 2002/2003, the RFS Group divested its last remaining mining tenements.

 

1993

The Company was incorporated on 13 August 1993 and listed on ASX in August 1994 as Kurnalpi Gold NL (former ASX Code: KUG), a mineral exploration company with tenements acquired from the Kurnalpi Prospecting Syndicate near Kalgoorlie, Western Australia.