On September 28, 2020, WAM Capital Limited has announced a conditional off-market takeover bid for Contango Income Generator Limited. WAM Capital stated that the offer consideration is 1 WAM share for every 3 Company shares. WAM Capital stated that in making this offer, it is providing all the Company shareholders with the opportunity to exit their positions in the Company at an 18.1% premium to the Company’s 1 month volume weighted average price of $0.632.