Richard White made a non-binding proposal to acquire remaining 77.24% stake in Kyckr Limited (ASX:KYK) on June 10, 2022. Richard White entered into a Scheme Implementation Deed (SID) to acquire remaining 77.24% stake in Kyckr Limited (ASX:KYK) for AUD 33.2 million on July 6, 2022. Under the terms, Richard White will acquire the shares at a rate of AUD 8.00 per share. Kyckr Board unanimously recommends that Kyckr shareholders vote in favour of the Scheme. SID also provides for a break fee of AUD 400,000 payable by Kyckr to RealWise under certain circumstances and for a reverse break fee of the same amount payable by RealWise to Kyckr also under certain circumstances. Scheme is subject to completion of Kyckr shareholder approval, Court approval. As of September 12, 2022, the court has approved the transaction. Scheme is expected to be implemented in or around October 2022. The transaction is approved by the requisite majorities of Kyckr Shareholders. The Scheme remains subject to the approval of the Supreme Court of New South Wales (Court) at the hearing scheduled on October 25, 2022 and certain other conditions precedent. If the Court approves the Scheme, Kyckr proposes to lodge an office copy of the Court orders with the Australian Securities and Investments Commission (ASIC) on the same day (Tuesday, October 25, 2022), at which time the Scheme will become legally effective. As of October 25, 2022, the transaction was approved by the Supreme Court of New South Wales.

Latimer Partners Pty Ltd acted as financial advisor and Addisons acted as legal advisor to Kyckr Limited. RealWise is being advised by Macquarie Capital as corporate adviser and Gilbert + Tobin as legal adviser.

Richard White completed the acquisition of the remaining 77.24% stake in Kyckr Limited (ASX:KYK) on November 4, 2022.