MFS Diversified Group has proposed to change its name to GEO Property Group.
“GEO has been chosen for its distinctiveness and evocative link with geography and land, which is the foundation of the Group’s entire development and investment business,” managing director Guy Farrands said.
“This change reflects the reality of the financial and operational separation that exists between MFT and MFS. The group’s business structure and cultural focus will not be affected by the name change.
“This is a logical step for the Group given it is financially independent from MFS Limited and is an important step in gaining greater control over how we are viewed by our key stakeholders,” Farrands added.
Under the proposal MFS Diversified Group will be renamed GEO Property Group, MFS Diversified Trust will be renamed GEO Property Trust and MFS Diversified Limited will be renamed GEO Property Limited.
The required regulatory approvals for the name change are being sought before the proposal is put to a General Meeting of securityholders and will be effective once approved by security holders. A new corporate logo incorporating the new name is expected to be launched at the securityholders’ meeting.
The group’s VillaWorld house and land development operations will be known as VillaWorld Homes and the premium, custom-made residential brand Moda as Moda Residential. The Group’s land-only communities will now be marketed under the GEO Property Group brand.
Australian Property Journal
