AVIRA RESOURCES LTD — Share Issue/Capital Change 2016

Nov 23, 2016

Notification of Consolidation/Split

==> picture [21 x 22] intentionally omitted <==

Notification of Consolidation/Split

Announcement Summary

Entity name

MGT RESOURCES LIMITED

Applicable security for the reorganisation

MGS ORDINARY FULLY PAID MGSAC PREFERENCE SHARES FULLY PAID MGSAU OPTION EXPIRING VARIOUS DATES EX VARIOUS PRICES

Announcement Type

New Announcement

Date of this announcement

Thursday November 24, 2016

Reorganisation type

Security consolidation

Effective Date

Friday December 2, 2016

Record Date

Monday December 5, 2016

Issue Date

Monday December 12, 2016

Refer to below for full details of the announcement

Announcement Details

Part 1 - Entity and announcement details

*1.1 Name of +Entity

MGT RESOURCES LIMITED

Registration Number

*1.2 Registered Number Type

ABN 38131715645

*1.3 ASX issuer code

MGS

*1.4 The announcement is

New announcement

Notification of Consolidation/Split

1 / 4

Notification of Consolidation/Split

==> picture [21 x 22] intentionally omitted <==

*1.5 Date of this announcement

Thursday November 24, 2016

*1.6 Securities affected by the reorganisation

==> picture [477 x 70] intentionally omitted <==

----- Start of picture text ----- MGS ORDINARY FULLY PAIDMGSAC PREFERENCE SHARES FULLY PAIDMGSAU OPTION EXPIRING VARIOUS DATES EXVARIOUS PRICES----- End of picture text -----

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 30, 2016 Actual met? No

Comments

Shareholders are being asked to approve the 10:1 share consolidation at the upcoming Annual General Meeting on 30 November 2016.

Part 3 - Reorganisation timetable and details

*3.1 +Record date

Monday December 5, 2016

3.2 Date of +security holder meeting

Wednesday November 30, 2016

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

Thursday December 1, 2016

*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 2, 2016

Notification of Consolidation/Split

2 / 4

Notification of Consolidation/Split

==> picture [21 x 22] intentionally omitted <==

3.5 Record date

Monday December 5, 2016

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 6, 2016

*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 12, 2016

3.8 Trading starts on a normal T+2 basis

Tuesday December 13, 2016

3.9 First settlement of trades conducted on a +deferred settlement basis and on a normal T+2 basis Thursday December 15, 2016

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

10

(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

==> picture [477 x 188] intentionally omitted <==

----- Start of picture text ----- *ASX +Security Code *ASX +SecurityMGS DescriptionORDINARY FULLYPAIDQuoted/unquoted Number on issue Number on issue after Estimate/ActualQuoted before reorganisation reorganisation Actual483,066,131 48,306,613*ASX +Security Code *ASX +SecurityMGSAC DescriptionPREFERENCESHARES FULLYPAID----- End of picture text -----

Notification of Consolidation/Split

3 / 4

Notification of Consolidation/Split

==> picture [21 x 22] intentionally omitted <==

==> picture [478 x 319] intentionally omitted <==

----- Start of picture text ----- Quoted/unquoted Number on issue Number on issue after Estimate/ActualUnquoted before reorganisation reorganisation Actual181,818,182 18,181,818*ASX +Security Code *ASX +SecurityMGSAU DescriptionOPTION EXPIRINGVARIOUS DATES EXVARIOUS PRICESQuoted/unquoted Number on issue Number on issue after Estimate/ActualUnquoted before reorganisation reorganisation Actual73,777,274 7,377,7275.2 *Exercise price of options*ASX +Security Code *ASX +Security DescriptionMGSAU OPTION EXPIRINGVARIOUS DATES EXVARIOUS PRICESQuoted/unquoted Exercise price before Exercise price afterUnquoted reorganisation reorganisationAUD 0.00000000 AUD 0.00000000----- End of picture text -----

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

4 / 4