Optus Mobile Pty Ltd entered into a share sale agreement to acquire mobile business of amaysim Australia Limited (ASX:AYS) for AUD 250 million on November 2, 2020. At the time of completion of the share sale agreement, amaysim Mobile will hold all assets comprising amaysim's Mobile business. Post-completion, amaysim intends to distribute proceeds (less certain transaction and windup costs and other amounts) to shareholders in three tranches: the Major Distribution, the Minor Distribution and the Final Distribution (together, the Distribution). The proceeds from the sale will be distributed over three tranches, including: (i) the Major distribution of approximately AUD 154.6 million or AUD 0.50 per share, comprising a fully franked dividend of AUD 80.4 million or AUD 0.26 and a return of capital of AUD 74.2 million or AUD 0.24 per share to be paid in or around March 2021; (ii) the Minor distribution of approximately AUD 30.9 million or AUD 0.10 per share to be paid in or around April 2021; and (iii) the Final distribution (which may be completed via two distributions) of approximately AUD 21.6 million to AUD 40.2 million or AUD 0.07 to AUD 0.13 per share to be paid in or around October 2021. As of December 2, 2020, amaysim estimates that approximately AUD 197.7 million to AUD 215.4 million will be available for distribution to shareholders via the distribution, equivalent to AUD 0.67 - AUD 0.73 per share and the three tranches, now includes (i) the Major distribution of approximately AUD 147.6 million or AUD 0.50 per share, comprising a fully franked dividend of AUD 76.7 million or AUD 0.26 and a return of capital of AUD 70.8 million or AUD 0.24 per share to be paid in or around April 27, 2021; (ii) the Minor distribution of approximately AUD 29.5 million or AUD 0.10 per share to be paid in or around May 2021; and (iii) the Final distribution (which may be completed via two distributions) of approximately AUD 20.7 million to AUD 38.4 million or AUD 0.07 to AUD 0.13 per share to be paid in or around October 2021.The share sale agreement also makes provision for a break fee of AUD 2.5 million payable by amaysim in certain circumstances. The winding up of the company is slated for June 2021. Isaac Ward, will no longer be employed by amaysim Australia Limited and will be offered terms with Optus. The amaysim Board and remaining KMP will remain with amaysim Australia Limited up until the de-listing and subsequent wind-up. Optus has agreed to offer employment to the vast majority of the amaysim’s Australian team who will continue to operate the amaysim brand and Mobile business under Optus' ownership. Regulatory approval has been received. The transaction is subject to Amaysim's shareholders approval with an extraordinary general meeting expected to be held in January 21, 2021. As of November 22, 2020, The Australian Competition & Consumer Commission has approved the merger. As reported on January 15, 2021, the Board of amaysim unanimously approved the transaction and recommended its shareholders to approve the transaction. The meeting of the shareholders is scheduled on January 21, 2021. amaysim Australia Limited shareholders approved the deal on January 21, 2020. The transaction is expected to complete in January 2021. As of December 2, 2020, the transaction is expected to complete on February 1, 2021. As of December 2, 2020, the independent expert, Lonergan Edwards, concluded that the transaction is fair and reasonable and in the best interests of shareholders, in the absence of a superior proposal. Luminis Partners Pty Ltd. acted as financial advisor and King & Wood acted as legal advisor to amaysim Australia Limited. BofA Securities, Inc. acted as financial advisor to Optus Mobile Pty Ltd.