Kin Group Pty Ltd made an offer to acquire Pact Group Holdings Ltd from Investors Mutual Limited and others for approximately AUD 120 million on September 13, 2023. As of December 11, 2023, Kin Group has agreed to increase Bennamon?s all-cash offer price to AUD 0.84 per Pact share. Independent Board Committee of Pact Group Holdings Ltd unanimously recommends that Pact shareholders ACCEPT the Revised Offer. As of February 21, 2024, the closing of offer has been extended to March 1, 2024. As of April 8, 2024, Pact Group Holdings's Independent Board Committee (IBC) continues to recommend that minority shareholders accept the offer of AUD 0.84 per Pact share for the reasons outlined in my letter to shareholders dated 6 February 2024. As of May 3, 2024, the offeror has finally declared his long-running takeover offer for Pact Group Holdings Ltd to close on June 7, 2024. Currently, Pact Group Holdings Ltd has secured 87.42% or 301,012,934 share capital, with David Harris and Mark Gandur, holding 6% and the remaining investors unwilling to sell at the takeover price per share, and just short of 90% acceptance compulsory ­acquisition. Upon completion, the offeror is intending to delist the Company from the ASX and privatize it.

Macquarie Capital is acting as financial adviser and Ashurst is acting as legal adviser to Kin Group. Rodd Levy of Herbert Smith Freehills acted as legal advisor to Pact Group Holdings Ltd.

Kin Group Pty Ltd completed the acquisition of unknown minority stake in Pact Group Holdings Ltd from Investors Mutual Limited and others on June 7, 2024.