Dawney & Co Pty Limited agreed to acquire 97.349948% stake in ICS Global Limited (ASX:ICS) from HSBC Custody Nominees (Australia) Limited, Dixson Trust Pty Ltd., King & Svenson Pty Ltd, Dmx Capital Partners Limited, managed by DMX Asset Management Limited and others for AUD 2 million on December 12, 2022. As per the terms, the offer per share is AUD 0.2. Transaction is subject to regulatory and other conditions precedents. HopgoodGanim acted as a legal advisor to Dawney & Co Pty Limited. Boardroom Pty Limited acted as a registrar to ICS Global.

Dawney & Co Pty Limited cancelled the acquisition of 97.349948% stake in ICS Global Limited (ASX:ICS) from HSBC Custody Nominees (Australia) Limited, Dixson Trust Pty Ltd., King & Svenson Pty Ltd, Dmx Capital Partners Limited, managed by DMX Asset Management Limited and others on January 30, 2023. ICS Global board rejected the offer as the offer materially undervalues the shares. ICS board recommended shareholders to take no action. As of January 12, 2023, Dawney & Co has completed sending replacement bidder's statement and offers to target's shareholders. The offer will close on February 6, 2023.