ASARA RESOURCES LIMITED — Share Issue/Capital Change 2017

Nov 13, 2017

Notification of Consolidation/Split

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Notification of Consolidation/Split

Announcement Summary

Entity name

GOLDEN RIM RESOURCES LTD

Applicable security for the reorganisation

GMR ORDINARY FULLY PAID GMRO OPTION EXPIRING 31-JAN-2019

Announcement Type

New Announcement

Date of this announcement

Tuesday November 14, 2017

Reorganisation type

Security consolidation

Effective Date

Friday December 1, 2017

Record Date

Monday December 4, 2017

Issue Date

Monday December 11, 2017

Refer to below for full details of the announcement

Announcement Details

Part 1 - Entity and announcement details

*1.1 Name of +Entity

GOLDEN RIM RESOURCES LTD

Registration Number

*1.2 Registered Number Type

ABN 39006710774

*1.3 ASX issuer code

GMR

*1.4 The announcement is

New announcement

*1.5 Date of this announcement

Tuesday November 14, 2017

*1.6 Securities affected by the reorganisation

Notification of Consolidation/Split

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Notification of Consolidation/Split

ORDINARY FULLY PAID OPTION EXPIRING 31-JAN-2019

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GMR GMRO

Part 2 - Approvals

*2.1 Are any of the below approvals required for the reorganisation before business day 0 of the timetable?

• Security holder approval Court approval

• Lodgement of court order with +ASIC ACCC approval

• FIRB approval

• Another approval/condition external to the entity required to be given/met before business day 0 of the timetable for the reorganisation.

Yes

2.2 Approvals

**Approval/Condition Date for determination Is the date estimated Approval +Security holder Wednesday or actual? received/condition approval November 29, 2017 Actual met? [Select...]

Comments

Part 3 - Reorganisation timetable and details

*3.1 +Record date

Monday December 4, 2017

3.2 Date of +security holder meeting

Wednesday November 29, 2017

3.3 Last day for trading in the pre-re-organised +securities

Thursday November 30, 2017

*3.4 Effective date. Trading in the re-organised securities commences on a +deferred settlement basis. If the +entity's securities are suspended from trading during this period there will be no +deferred settlement trading however ASX still captures this date.

Friday December 1, 2017

3.5 Record date

Monday December 4, 2017

3.6 First day for +entity to send notices to +security holders of the change in the number of +securities they hold. First day for +entity to register +securities on a post-reorganised basis

Tuesday December 5, 2017

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*3.7 +Issue date. +Deferred settlement market ends. Last day for +entity to send notices to

+security holder of the change in the number of +securities they hold. Last day for +entity to register +securities on a post-reorganised basis

Monday December 11, 2017

3.8 Trading starts on a normal T+2 basis

Tuesday December 12, 2017

3.9 First settlement of trades conducted on a +deferred settlement basis and on a normal T+2 basis

Thursday December 14, 2017

Part 4 - Reorganisation type and details

*4.1 The reorganisation is

+Security consolidation

*4.1a Consolidation ratio: the +securities will be consolidated on the basis that every

15

(pre-consolidation) +securities will be consolidated into

1

(post-consolidation) +security (/ies).

*4.2 Scrip fraction rounding

Fractions rounded up to the next whole number

Part 5 - +Securities on issue before and after reorganisation

*5.1 +Securities on issue before and after the reorganisation

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----- Start of picture text ----- *ASX +Security Code *ASX +SecurityGMR DescriptionORDINARY FULLYPAIDQuoted/unquoted Number on issue Number on issue after Estimate/ActualQuoted before reorganisation reorganisation Estimated3,003,537,589 200,235,839*ASX +Security Code *ASX +SecurityGMRO DescriptionOPTION EXPIRING31-JAN-2019Quoted/unquoted Number on issue Number on issue after Estimate/ActualQuoted before reorganisation reorganisation Estimated429,076,817 28,605,1215.2 *Exercise price of options*ASX +Security Code *ASX +Security DescriptionGMRO OPTION EXPIRING31-JAN-2019----- End of picture text -----

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Notification of Consolidation/Split

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Quoted/unquoted Exercise price before Exercise price after Quoted reorganisation reorganisation AUD 0.00500000 AUD 0.07500000

Part 6 - Further information

6.1 Further information relating to the reorganisation

6.2 Additional information for inclusion in the Announcement Summary

Notification of Consolidation/Split

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