• Bain Capital submits confidential, preliminary, non-binding proposal to acquire Insignia Financial
• Proposed offer price of A$4.00 per share, subject to conditions
• Insignia Financial Board to assess proposal to determine if in best interests of shareholders

Insignia Financial Ltd (ASX: IFL) has received a confidential, preliminary, non-binding proposal from Bain Capital to acquire all of the shares in Insignia Financial by way of a scheme of arrangement. Under the terms of the indicative proposal, IFL shareholders would receive A$4.00 cash per share, adjusted for any dividends paid or payable after the date of the proposal. The proposal is subject to a number of conditions, including satisfactory completion of due diligence on an exclusive basis, execution of a binding scheme implementation agreement, unanimous recommendation from the Insignia Financial Board of Directors, and approval from Bain Capital's Investment Committee, the Foreign Investment Review Board, and the Australian Prudential Regulation Authority. The Insignia Financial Board, together with its financial and legal advisers, is currently considering the proposal to assess whether it is in the best interests of shareholders to engage with Bain Capital. There is no certainty that the proposal will result in a binding offer or that any transaction will eventuate. Insignia Financial will continue to keep the market informed in accordance with its continuous disclosure obligations.