On June 25, 2021, The Board of UCW Limited provides the following update in relation to its off-market takeover bid to acquire up to 100% of the ordinary shares in RedHill Education Limited. UCW and Redhill have engaged in meaningful discussions and reciprocal due diligence regarding a potential transaction. These discussions have now ceased as the UCW Board has concluded that mutually acceptable terms could not be reached. As such, UCW does not intend to vary or extend its offer or declare its offer free from the remaining defeating conditions. As a result, the offer is expected to lapse on July 2, 2021.