The Myer Family Company Pty Ltd. signed a term sheet to acquire remaining stake in Mothercare Australia limited on October 10, 2012. The Myer Family Company Pty Ltd. signed an implementation agreement to acquire remaining stake in Mothercare Australia limited for AUD 0.49 million on November 14, 2012. The purchase consideration includes AUD 0.49 million in cash, AUD 4.5 million, the value of mandatorily convertible notes to be forgiven by Myer Family and AUD 1.27 million, the face value of bridging loans to be forgiven by Myer Family. Myer Family has also agreed to offer to sell to Mothercare Australia all of its shares for an aggregate amount of AUD 1 by way of a selective share buy- back following completion of the proposed transaction. The transaction is subject to approval by Board of Directors and shareholders of Mothercare Australia and note holder's approval. The completion of the sale will take place 5 business days following satisfaction or waiver of the last condition precedent and is anticipated to occur prior to Christmas 2012. As of November 14, 2012, the Board of The Myer Family Company recommends the shareholder to approve the transaction. Pitcher Partners NSW Corporate Pty. Limited provided fairness opinion to Mothercare Australia.

The Myer Family Company Pty Ltd. cancelled the acquisition of remaining stake in Mothercare Australia limited on January 29, 2013.