KM Custodians Pty Ltd entered into a binding term sheet to acquire BuyMyHome (Agency) Pty Ltd, BuyMyHome Pty Ltd and BuyMyPlace Finance Pty Ltd from buyMyplace.com.au Limited (ASX:BMP) for AUD 5.1 million on November 13, 2018. Under the terms of the transaction, KM Custodians Pty Ltd agreed to forgive debt of AUD 5 million of buyMyplace.com.au Limited and pay AUD 0.1 million. The transaction is conditional upon the approval of shareholders of buyMyplace.com.au Limited at the general meeting to be held on December 21, 2018, and any necessary external regulatory approvals, buyMyplace.com.au Limited to receive AUD 0.5 Million from KM Custodians Pty Ltd to fund it's operations until December 21, 2018, buyMyplace.com.au Limited shall have no contractual obligation to complete the transaction in case it receives a superior offer for any of the sale subsidiaries. Shareholders of buyMyplace.com.au Limited approved the transaction on December 21, 2018.