Cubitt Trade Holdings, a special acquisition and holding company, agreed to acquire HWSI Realisation Fund, an investment company for $101m. "Following HWSIL entering into managed wind-down earlier this year, it was expected that cash would be returned to HWSIL Shareholders as loans matured or were realised. The Offer provides HWSIL Shareholders with a cash alternative at an attractive value in a significantly shorter timeframe than possible under a managed wind-down. It eliminates any risks associated with an ongoing exposure to HWSIL's portfolio and any challenges associated with managing HWSIL during the latter stages of the managed wind-down process. In aggregate, with the $24 per HWSIL Share returned to HWSIL Shareholders in April 2020, the offer will result in HWSIL Shareholders having received $0.9 per Share since HWSIL adopted a managed wind-down strategy and will provide a clean exit for HWSIL Shareholders through a single transaction," David Warr, HWSIL Chairman of the Board.