Directors nominated by Cadence Capital and Wilson Asset Management blocked a takeover bid for RHG during the last six months, RHG chair John Kinghorn told the company's annual meeting on Friday.In remarks lodged with the ASX, Kinghorn said that the firm received "a number of enquiries" in relation to the back book of home loans of RHG, "one of which was credible".Kinghorn said of this proposal that it was "likely to result in an offer for the company that would have been in the best interests of a significant number of shareholders".The offer required the approval of all directors, Kinghorn said. Two directors did not agree - Paul Jensen and Gabriel Radzyminski, both nominated by WAM and Cadence in April this year.A third significant shareholder, Alceon Group, has since nominated one of its principals, Trevor Loewensohn, as a director to RHG. Alceon was widely rumored to have made an unsuccessful bid for RHG in the middle of the year.Kinghorn, who founded the then Rams Home Loans in the early 1990s, stepped down from the board on Friday. Glenn Goddard, the chief executive, will serve as executive chair.In a review of returns to shareholders from the A$5 billion loan book, Kinghorn said that "with good management" it should over its remaining life return 45 cents per share and franking credits of 25 cents per share. Shares in RHG closed last week at 47.5 cents.