CONNEXION MOBILITY LTD — M&A Activity 2012

Jun 27, 2012

ECSI LIMITED

ABN 68 004 240 313

Company Update

Proposed Acquisition

ECSI Limited (ASX:ECS) has lodged the with the Australian Securities and Investment Commission (ASIC) and the Australian Securities Exchange (ASX) a copy of the proposed Notice of Meeting (NOM) and Independents Expert Report (IER) on, in relation to the proposed announcement announced on 27 January 2012.

The ASX in reviewing the NOM and IER have requested and ECS have accommodated changes to ensure all documentation complies with all the listing rules.

ECS is waiting for final approval so we are able to release the NOM and IER to the shareholders so we are able to conduct an EGM to allow shareholders to vote on the proposed transaction.

ECS are endeavouring that the EGM can be conducted as soon as practicable ensuring we comply with all regulations.

Funding

Further to the announcement on 28 May 2012 in relation to the Cornerstone Investor. We are in the process of finalising the agreement.

Both parties have agreed to officially finalise the agreement once we have received approval from ASIC and ASX in relation to the documentation mentioned above.

George Karafotias

Director