Cashwerkz Pty Ltd entered into a heads of agreement to acquire Trustees Australia Limited (ASX:TAU) in a reverse merger transaction on December 15, 2016. Cashwerkz Pty Ltd entered into a formal agreement to acquire Trustees Australia Limited in a reverse merger transaction on June 29, 2017. Trustees Australia will issue 49.7 million shares as consideration. The acquisition will result in Adcock Private Equity, the primary funding company behind Cashwerkz Pty Ltd, holding approximately 51% of Trustees Australia’s voting shares and two of its nominees, Brook Adcock and John Nantes, joining the Trustee Australia’s Board. The transaction is conditional upon approval by Trustees Australia Limited's shareholders, approval and completion of proposed Queensland Resorts demerger, final due diligence and valuation, Michael Hackett and Adcock Private Equity each signing a share subscription agreement to subscribe for shares with a total subscription amount of AUD 0.26 million and AUD 0.39 million respectively and performing their obligations under those agreements. A shareholder meeting will be held on July 31, 2017. The Board of Trustees Australia approved the transaction and recommended its shareholders to vote in favor of the transaction. As on July 31, 2017, the shareholders of Trustees Australia Limited approved the transaction. The transaction is expected to close on August 1, 2017. As on August 1, 2017, the transaction is expected to close on August 8, 2017. The transaction's expected closing date was further amended to August 10, 2017. Paul Lom of PKF Melbourne Corporate Pty Ltd acted as a financial advisor and will receive AUD 0.06 million as fee, Ann-Maree Robertson of Nexia Corporate Finance Pty Ltd acted as an accountant, Hayes Knight Audit (Qld) Pty Ltd acted as an auditor, Julian Atkinson acted as a legal advisor and Boardroom Pty Limited acted as a registrar for Trustees Australia Limited. Cashwerkz Pty Ltd completed the acquisition of Trustees Australia Limited (ASX:TAU) in a reverse merger transaction on August 17, 2017. Kerry Daly resigned whereas Michael Hackett and Nathan Leman remained on the Board of Trustees Australia Limited.