WAM Active Limited (ASX:WAA), a fund managed by MAM Pty Limited made an offer to acquire remaining stake in Keybridge Capital Limited (ASX:KBC) from Bentley Capital Limited (ASX:BEL) and others on October 13, 2019. WAM Active Limited will acquire each share for AUD 0.069. Bentley Capital Limited has reviewed the offer and confirms that in the absence of a superior proposal, Bentley intends to accept the offer on a date that is not earlier than 21 days after the open of the offer for acceptances, in relation to all of the shares held by Bentley in Keybridge. Bentley has 31.7 million shares in Keybridge.

The transaction is subject to minimum acceptance of 50.1% before offer period, no regulatory action during the period starting on the date that the offer was announced and ending of the offer period, no prescriber occurrences, no material transactions, no material adverse change, no material adverse change, no superior alternate proposal, no material litigation, no delisting, no NTA fall and no fall in the market of below 10% or more. The offer will open for acceptance in due course and will be open for at least one month.