AIMS Securities Holding Pty Ltd a wholly owned subsidiary of AIMS Financial Group now owns approximately 68% of all the ordinary shares in MacarthurCook Limited at 43 cents per security as at July 15 2009.

The takeover offer was due to close on July 17, 2009 at 7:00pm Sydney time. The takeover offer has now been extended and will close on July 28, 2009 at 7:00pm Sydney time.

MacarthurCook last year held off an AMP takeover offer at $1.35 per security. AIMS paid less than one third of the price that was offer by AMP one year ago

Chairman Richard Haddock of MacarthurCook said the board of MacarthurCook had established an experienced and well regarded management team in Australia and Asia over the last 18 months.

The company is in a strong position to manage and further expand the MacarthurCook platform, particularly in Asia with the anticipated role and contribution of AIMS.” Mr Haddock said.

Yesterday AIMS Funds Management director and former funds management company Pengana Capital director and founder Mark Thorpe-Apps has been appointed as an executive director of MacarthurCook.

Thorpe-Apps will be joined on the board with immediate effect by current AIMS Financial Group founder, chairman and chief executive George Wang who has been appointed as a non-executive director.

MacarthurCook is one of the innovative real estate investment and funds management firm operating in the Australia, Singapore, Japan and United States markets which has $1.1 billion FUM.

Founder Chairman of AIMS Financial Group George Wang said: “We will use this professional property funds management business to expand our property funds management business, no only in Australia, and also in Asia especially China.

It should be noted that AIMS hopes to grow MacarthurCook and is very excited about the prospect of launching Chinese real estate funds. It is intended that MacarthurCook will remain listed on the Australia Stock Exchange.

MacarthurCook Limited was listed on the Australian Stock Exchange in 2001, the company was built into a real estate investment and funds management firm operating in the Australia, Singapore, Japan and United States markets.

The company launched one of the first Asian real estate securities fund in the United States and the first listing of a real estate securities fund in Singapore

Among its other achievements include the listing in Australia of the MacarthurCook Industrial Property Fund and MacarthurCook Property Securities Fund and the listing in Singapore of the MacarthurCook Industrial REIT SGD600 million and MacarthurCook Property Securities Fund

MacarthurCook grew its FUM to $1.5 billion within five years of launch and achieved a market capitalisation of $100 million within five years of launch within the same period.

The firm was awarded one of Australia's 100 fastest growing companies as measured by growth in revenue by BRW magazine in each of 2005, 2006, 2007 and 2008.