GENESIS RESOURCES LIMITED — M&A Activity 2015

Mar 1, 2015

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GENESIS RESOURCES LIMITED

(ASX: GES)

ASX and Media Release

2 March 2015

Termination of Blumont Takeover Bid Implementation Deed Takeover Bid – Take no action

Genesis Resources Limited ( Genesis or the Company ) advises that it has terminated the Takeover Bid Implementation Deed ( Deed ) with Blumont Group Ltd (SGX: A33/BLUM) under which Blumont is making an off-market takeover bid for all the shares in Genesis.

A consequence of termination of the Deed is that Genesis’ Directors are freed from their obligation to recommend acceptance of the offer and the expectation that they will accept the offer in relation to their own shares.

Genesis will shortly issue a Supplementary Target’s Statement with updated guidance to shareholders. Shareholders should read that Supplementary Target’s Statement before taking any action.

Reason for termination of Deed

As explained in Genesis’ Target’s Statement, the Deed provided for lawful co-operation between the bidder and target because the Directors supported the takeover proposal in the circumstances then applying. The Deed as amended in April 2014 gave Genesis the right of termination if the 5 day volume weighted average price of Blumont shares fell below 2.72 Singapore cents.

Blumont shares have traded below 2.72 Singapore cents every day since mid-November 2014. At the current Blumont share price of about 1.5 Singapore cents, the scrip offer implies a price of about 6.68 Australian cents per Genesis share. In April the offer implied a price of about 13.8 Australian cents per Genesis share. The Directors consider that the business of Genesis has strengthened since April, not weakened.

Next steps

Genesis is now in a position to explore and realise growing market interest in its principal mineral resource. The Genesis directors are focussed on obtaining the best possible outcome for Genesis and its shareholders, and are being advised by Australian national law firm HWL Ebsworth.

-Ends-

For further information, please contact: Sophie Karzis Company Secretary T: +61 3 9286 7501 M: 0409 540 827 E: sk@ccounsel.com.au

GENESIS RESOURCES LIMITED ACN 114 787 469 Level 1, 61 Spring Street, Melbourne, Victoria 3000, Australia T + 61 3 9286 7500 | F + 61 3 9662 1472 | www.genesisresourcesltd.com.au