Authorised Investment Fund Ltd. (ASX:AIY) signed a term sheet to acquire 10% stake in Box Digital Media Pty Ltd for AUD 0.99 million on January 19, 2018. The consideration will be paid by issuance of 30 million shares of Authorised Investment Fund Ltd. in two tranches. The first tranche of 20 million shares will be placed under the existing 15% placement capacity in accordance with Listing Rule 7.1 and the second tranche of 10 million shares will be placed subject to shareholder approval. The shares issued as consideration will rank equally with existing shares on issue. The proposed transaction is subject to certain conditions including completion of due diligence, execution of legally binding documentation and all shareholder and regulatory approvals. As on February 13, 2018, the first tranche of 20 million shares were issued to Box Digital Media Pty Ltd. As on March 26, 2018, the shareholders have approved the issue of shares to Box Digital Media Pty Ltd. Authorised Investment Fund Ltd. (ASX:AIY) completed the acquisition of acquire 10% stake in Box Digital Media Pty Ltd for AUD 1.3 million on April 13, 2018. As on April 13, 2018, the second tranche of 20 million shares have been issued to Box Digital Media Pty Ltd.