Matt Logan and Paul Challis agreed to acquire Eco Pallets Pty Ltd. from Baumart Holdings Limited for AUD 1 million on June 23, 2022. Following the completion of the Proposed Sale, it is proposed that Mr Logan will be appointed as a director of APX and will step down from the Board of BauMart. Completion of the transaction is subject to approval being obtained from BauMart shareholders in relation to the Proposed Sale and no material adverse change occurring in relation to either APX or BauMart.

As of August 18, 2022, BauMart Holdings advises that shareholders have today voted in favour of the proposed sale of Eco Pallets. Adam Myers of BDO acted as independent expert to Baumart Holdings Limited.