On February 22, 2021, RedHill Education Limited announced that iCollege Limited has announced an off-market takeover offer for all the shares in the Company for proposed consideration of 6 shares in ICT for every one share in the Company. The Company stated that the offer is unsolicited and conditional on a number of matters. In addition, the Company stated that the board is reviewing the proposed offer and notes that the ICT Bidder’s Statement will be lodged within the next 21 days. Further, the Company stated that the Board is not in a position to make a recommendation as yet but will do so in the Company’s Target’s Statement, which will be released within approximately 1 month after receipt of the ICT Bidder’s Statement.