John Walstab entered into binding heads of agreement to acquire an additional 39.94% stake in Quantum Energy Limited (ASX:QTM) from Crisp Holdings Pty Ltd for AUD 4.5 million on June 29, 2018. As per the terms of transaction, John Walstab will acquire 430.7 million shares and the purchase price is to be paid as to AUD 2 million at the time of transfer with the balance, along with the interest thereon, payable in 5 equal annual installments thereafter. Upon completion of the transaction, Crisp Holdings Pty. Ltd. will reduced its stake to 30% and John Walstab will increased his stake to 47.8% in Quantum Energy Limited. The transaction is subject to all regulatory requirements being complied with and approval of shareholders of Quantum Energy Limited in the extra ordinary general meeting to be held on September 7, 2018. Shareholders of Quantum Energy Limited approved the transaction in the extraordinary general meeting held on September 7, 2018. The transaction is expected to complete within 7 days after the approval obtained from shareholders. Leadenhall VRG Pty Ltd acted as a financial advisor for Quantum Energy Limited. Leadenhall VRG Pty Ltd is entitle to receive a fixed fee of AUD 0.01 million. John Walstab cancelled the acquisition of an additional 39.94% stake in Quantum Energy Limited (ASX:QTM) from Crisp Holdings Pty Ltd on June 29, 2019.