BARYS RESOURCES LIMITED — Share Issue/Capital Change 2016

Jan 27, 2016

Notification of Consolidation/Split

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Notification of Consolidation/Split

Announcement Summary

Entity name

METALLUM LIMITED

Applicable security for the reorganisation

MNE ORDINARY FULLY PAID MNEAB PERFORMANCE RIGHTS MNEAA OPTION EXPIRING VARIOUS DATES EX VARIOUS PRICES

Announcement Type

New Announcement

Date of this announcement

Thursday January 28, 2016

Reorganisation type

Security consolidation

Effective Date

Tuesday March 1, 2016

Record Date

Thursday March 3, 2016

Issue Date

Thursday March 10, 2016

Refer to below for full details of the announcement

Announcement Details

Part 1 - Entity and announcement details

*1.1 Name of +Entity

METALLUM LIMITED

Registration Number

*1.2 Registered Number Type

ACN 149230811

*1.3 ASX issuer code

MNE

*1.4 The announcement is

New announcement

Notification of Consolidation/Split

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*1.5 Date of this announcement

Thursday January 28, 2016

*1.6 Securities affected by the reorganisation

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----- Start of picture text ----- MNE ORDINARY FULLY PAIDMNEAB PERFORMANCE RIGHTSMNEAA 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 Friday February 26, or actual? received/condition approval 2016 Actual met? [Select...]

Comments

Shareholder Approval is being sought at a General Meeting on 26 February 2016, subject to Resolutions 1, 2, 3 and 4 being passed by Shareholders.

Part 3 - Reorganisation timetable and details

*3.1 +Record date

Thursday March 3, 2016

3.2 Date of +security holder meeting

Friday February 26, 2016

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

Monday February 29, 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.

Tuesday March 1, 2016

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3.5 Record date

Thursday March 3, 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 Friday March 4, 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 Thursday March 10, 2016

3.8 Trading starts on a normal T+3 basis

Friday March 11, 2016

3.9 First settlement of trades conducted on a +deferred settlement basis and on a normal T+3 basis Wednesday March 16, 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 400

(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 +SecurityMNE DescriptionORDINARY FULLYPAIDQuoted/unquoted Number on issue Number on issue after Estimate/ActualQuoted before reorganisation reorganisation Estimated851,199,739 2,127,999*ASX +Security Code *ASX +SecurityMNEAB DescriptionPERFORMANCERIGHTSQuoted/unquoted Number on issue Number on issue after Estimate/ActualUnquoted before reorganisation reorganisation Estimated17,400,000 43,500----- End of picture text -----

Notification of Consolidation/Split

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----- Start of picture text ----- *ASX +Security Code *ASX +SecurityMNEAA DescriptionOPTION EXPIRINGVARIOUS DATES EXVARIOUS PRICESQuoted/unquoted Number on issue Number on issue after Estimate/ActualUnquoted before reorganisation reorganisation Estimated177,388,889 443,4725.2 *Exercise price of options*ASX +Security Code *ASX +Security DescriptionMNEAB PERFORMANCE RIGHTSQuoted/unquoted Exercise price before Exercise price afterUnquoted reorganisation reorganisation0.00000000 0.00000000*ASX +Security Code *ASX +Security DescriptionMNEAA OPTION EXPIRINGVARIOUS DATES EXVARIOUS PRICESQuoted/unquoted Exercise price before Exercise price afterUnquoted reorganisation reorganisation0.00000000 0.00000000----- End of picture text -----

Part 6 - Further information

6.1 Further information relating to the reorganisation

The Consolidation is subject to Shareholder Approval on 26 February 2016, and conditional on Resolutions 1, 2, 3 and 4 of the Notice of Meeting being passed by Shareholders.

6.2 Additional information for inclusion in the Announcement Summary

Notification of Consolidation/Split

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