Queens Lane Capital entered into binding agreement to acquire Designworks and Yarra Trail businesses from The PAS Group Limited (ASX:PGR) on October 23, 2020. Queens Lane Capital agreed to acquire Designworks and Yarra Trail businesses from The PAS Group Limited on October 26, 2020. Transaction represents a sale of the Designworks and Yarra Trail businesses and the majority of their assets. Transaction ensures the continued employment for a majority of current employees of the businesses, who will be offered ongoing roles on the same or no lesser terms by the Acquirers. The Transaction is subject to the satisfaction of certain conditions, which are expected to be satisfied. Targeted completion date is On or before December 24, 2020. The net proceeds of the will be applied in accordance with the terms of the Deeds of PGR Arrangement for The PAS Group Limited. Queens Lane Capital completed the acquisition of Designworks and Yarra Trail businesses from The PAS Group Limited (ASX:PGR) on December 1, 2020.