Bendigo Telco Limited (NSX:BCT) entered into a conditional binding contract to acquire certain assets of managed telco business from Community Telco Australia Pty Ltd. for AUD 1 million on May 27, 2016. Under the terms of transaction, Bendigo Telco will issue its 0.5 million shares as consideration. In a related transaction, Bendigo Telco Limited (NSX:BCT) entered into a conditional binding contract to acquire Vic West Community Enterprise Pty Ltd. Bendigo Telco Limited (NSX:BCT) will offer employment to seven of Community Telco Australia Pty Ltd. employees on substantially the same terms as their current employment. The deal is subject to the approval of shareholders of Bendigo Telco, completion of related deals, NSX providing approval for quotation of new Bendigo Telco shares and court approving the scheme. The transaction is unanimously recommended by the Board of Bendigo Telco. As of August 11, 2016, the deal has been approved by the shareholders of Bendigo Telco. The deal is expected to be completed in the third quarter of 2016. Andrew Walker of Kelly Hazell Quill Lawyers served as legal advisor to Bendigo Telco. Bendigo Telco Limited (NSX:BCT) cancelled the acquisition of acquire certain assets of managed telco business from Community Telco Australia Pty Ltd. on May 27, 2017.