CH2 Holdings Pty Limited entered into a Share Sale Agreement to acquire Paragon Care Limited (ASX:PGC) for approximately AUD 190 million in a reverse merger transaction on February 29, 2024. Under the Merger, it is proposed that Paragon Care will acquire all of the issued share capital in CH2 in exchange for issuing 943,524,071 shares in ParagonCare. The proposed issue of shares implies a purchase price AUD 201,494,830 assuming a AUD 0.214 share issue price and represents 57% of Paragon Care?s issued shares post the Merger completing. The Merger is subject to the approval of Paragon Care shareholders and approvals from ASIC and ASX. The transaction has been unanimously approved by the Board of Directors of Paragon. The expected completion date of the transaction is late May 2024. The transaction is expected to complete on June 4, 2024. Herbert Smith Freehills is acting as legal adviser to ParagonCare.Record Point is acting as financial adviser and Baker McKenzie is acting as legal adviser to CH2. Link Market Services Limited acted as registrar and ShineWing Australia Securities Pty Ltd acted as fairness opinion provider to Paragon Care Limited.

CH2 Holdings Pty Limited completed the acquisition of Paragon Care Limited (ASX:PGC) in a reverse merger transaction on June 3, 2024. With effect from completion of the Merger Shane Tanner, Geoffrey Sam and Brent Stewart have resigned as directors of Paragon; and David Collins, Carmen Riley and Peter Lacaze have been appointed as directors of Paragon. John Walstab has resigned as managing director and will be replaced by David Collins. Peter Lacaze will be appointed as the chairman of the board. Alan McCarthy will remain on the board as Paragon's nominated independent director under the share sale agreement in respect of the Merger. John Walstab will
step down as CEO and will be replaced by David Collins.