IMMUTEP LIMITED — Capital/Financing Update 2009

Nov 30, 2009

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ASX Code: PRR

Company Announcement

1[st] December 2009

COMPLETION OF SHARE PURCHASE PLAN

Prima Biomed Limited (ASX:PRR) advises that it yesterday completed the issue of 80,401,244 shares at an issue price of 14 cents each under the terms of the Share Purchase Plan announced on 16 October 2009 for gross proceeds of $11,256,108.

An Appendix 3B is attached.

ENDS

For further information please contact:

Mr Martin Rogers James Moses Executive Director Investor and Media Relations Prima BioMed Limited Mandate Corporate Ph: 0428 268 357 Ph: 0420 991 574 E: martin.rogers@primabiomed.com.au E: james@mandatecorporate.com.au

Website: www.primabiomed.com.au

Prima BioMed Ltd , Suite 1, 1233 High St, Armadale, VIC 3143 Ph: +61 (0) 3 9824 5254 Fax: +61 (0) 3 9822 7735 www.primabiomed.com.au ABN: 90 009 237 889

Appendix 3B New issue announcement

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New Issue Announcement, Application for Quotation of Additional Securities and Agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002, 1/1/2003.

Name of Entity:

Prima Biomed Limited (ASX: PRR)

ABN:

90 009 237 889

We (the entity) give ASX the following information.

Part 1 - All Issues

You must complete the relevant sections (attach sheets if there is not enough space).

• 1 +Class of +securities issued or to be a) Ordinary Fully Paid Shares (PRR) issued b) Ordinary Fully Paid Shares (PRR)

• 2 Number of[+] securities issued or to a) 80,401,244 be issued (if known) or maximum b) 333,500 number which may be issued

• 3 Principal terms of the[+] securities (eg, a) Pari passu with existing ordinary shares if options, exercise price and expiry b) Pari passu with existing ordinary shares date; if partly paid[+] securities, the amount outstanding and due dates for payment; if +convertible securities, the conversion price and dates for conversion)

• See chapter 19 for defined terms.

1/1/2003

Appendix 3B Page 1

Appendix 3B New issue announcement

	4Do the+securities rank equally in allrespects from the date of allotmentwith an existing+class of quoted+securities?If the additional securities do notrank equally, please state: the date from which they do theextenttowhichtheyparticipate for the next dividend,(inthecaseofatrust,distribution) or interest payment the extent to which they do notrank equally, other than inrelation to the next dividend,distribution or interest payment5Issue price or consideration6Purpose of the issue(If issued as consideration for theacquisition of assets, clearly identifythose assets)	a) Yes, (PRR)b) Yes, (PRR)	a) Yes, (PRR)b) Yes, (PRR)	a) Yes, (PRR)b) Yes, (PRR)	a) Yes, (PRR)b) Yes, (PRR)
		a) $0.14 per ordinary shareb) $0.02per ordinaryshare
		a) Share Purchase Planb) Exercise of PRRO Options
	7Dates of entering+securities intouncertificated holdings or despatchof certificates8Numberand+classofall+securitiesquotedonASX(_including_the securities in clause 2if applicable)	a) 30 November 2009b) 27 November 2009 to 30 November 2009
		Number	+Class
		629,498,979126,791,898	Ordinaryfullypaidshares(PRR)Options exercisable at $0.02 onor before 31 December 2011(PRRO)

• See chapter 19 for defined terms.

Appendix 3B Page 2

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Appendix 3B New issue announcement

9Number and+class ofall+securitiesnotquotedonASX(_including_the securitiesinclause2ifapplicable)		Number	+Class	+Class	+Class
		Amount	ExercisePrice	Expiration Date	ASX Code
		300,000	$0.2000	06 August 2010	PRRAK
		15,000,000	$0.0629	20 July 2014	PRRAI
		1,547,988	$0.1053	10 August 2014	PRRAM
		1,766,784	$0.1325	9 September 2014	PRRAQ
		1,884,253	$0.2231	10 October 2014	PRRAO
		1,884,253	$0.2685	9 November 2014	PRRAS
		22,383,278	Total

• 10 Dividend policy (in the Unchanged case of a trust, distribution policy) on the increased capital (interests)

Part 2 - Bonus Issue or Pro Rata Issue

11 Is security holder approval required? 12 Is the issue renounceable or nonrenounceable? 13 Ratio in which the[+] securities will be offered 14 +Class of +securities to which the offer relates 15 +Record date to determine entitlements 16 Will holdings on different registers (or subregisters) be aggregated for calculating entitlements? 17 Policy for deciding entitlements in relation to fractions

• See chapter 19 for defined terms.

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Appendix 3B Page 3

Appendix 3B New issue announcement

18Names of countries in which theentity has+security holders whowillnotbesentnewissuedocumentsNote: Security holders must be told how theirentitlements are to be dealt with.Cross reference: rule 7.7.19Closingdateforreceiptofacceptances or renunciations20Names of any underwriters21Amount of any underwriting fee orcommission22Names of any brokers to the issue23Fee or commission payable to thebroker to the issue24Amountofanyhandlingfeepayable to brokers who lodgeacceptances or renunciations onbehalf of+security holders25If the issue is contingent on+security holders’ approval, the dateof the meeting26Date entitlement and acceptanceform and prospectus or ProductDisclosure Statement will be sent topersons entitled27If the entity has issued options, andthe terms entitle option holders toparticipate on exercise, the date onwhich notices will be sent to optionholders28Date rights trading will begin(if applicable)29Date rights trading will end(if applicable)	18Names of countries in which theentity has+security holders whowillnotbesentnewissuedocumentsNote: Security holders must be told how theirentitlements are to be dealt with.Cross reference: rule 7.7.19Closingdateforreceiptofacceptances or renunciations20Names of any underwriters21Amount of any underwriting fee orcommission22Names of any brokers to the issue23Fee or commission payable to thebroker to the issue24Amountofanyhandlingfeepayable to brokers who lodgeacceptances or renunciations onbehalf of+security holders25If the issue is contingent on+security holders’ approval, the dateof the meeting26Date entitlement and acceptanceform and prospectus or ProductDisclosure Statement will be sent topersons entitled27If the entity has issued options, andthe terms entitle option holders toparticipate on exercise, the date onwhich notices will be sent to optionholders28Date rights trading will begin(if applicable)29Date rights trading will end(if applicable)	18Names of countries in which theentity has+security holders whowillnotbesentnewissuedocumentsNote: Security holders must be told how theirentitlements are to be dealt with.Cross reference: rule 7.7.19Closingdateforreceiptofacceptances or renunciations20Names of any underwriters21Amount of any underwriting fee orcommission22Names of any brokers to the issue23Fee or commission payable to thebroker to the issue24Amountofanyhandlingfeepayable to brokers who lodgeacceptances or renunciations onbehalf of+security holders25If the issue is contingent on+security holders’ approval, the dateof the meeting26Date entitlement and acceptanceform and prospectus or ProductDisclosure Statement will be sent topersons entitled27If the entity has issued options, andthe terms entitle option holders toparticipate on exercise, the date onwhich notices will be sent to optionholders28Date rights trading will begin(if applicable)29Date rights trading will end(if applicable)
	commission
		If the issue is contingent on+security holders’ approval, the dateof the meetingDate entitlement and acceptanceform and prospectus or ProductDisclosure Statement will be sent topersons entitledIf the entity has issued options, andthe terms entitle option holders toparticipate on exercise, the date onwhich notices will be sent to optionholdersDate rights trading will begin(if applicable)

• See chapter 19 for defined terms. Appendix 3B Page 4

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Appendix 3B New issue announcement

30	How do+security holders sell their
	entitlements_in full_through a
	broker?
31	How do+security holders sell_part_
	of their entitlements through a
	broker and accept for the balance?
32	How do+security holders dispose of
	their entitlements (except by sale
	through a broker)?
33	+Despatch date

Part 3 - Quotation of Securities

You need only complete this section if you are applying for quotation of securities

34 Type of securities ( tick one ) (a)[Securities described in Part 1 ]

(b)[All other securities ]

Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

Tick to indicate you are providing the information or documents

35[If the ][+][securities are ][+][equity securities, the names of the 20 largest holders of the ] additional[+] securities, and the number and percentage of additional[+] securities held by those holders 36[If the ] +securities setting out the number of holders in the categories[+][securities are ][+][equity securities, a distribution schedule of the additional ] 1 - 1,000 1,001 - 5,000 5,001 - 10,000 10,001 - 100,000 100,001 and over

37[A copy of any trust deed for the additional ][+][securities ]

Entities that have ticked box 34(b)

• See chapter 19 for defined terms.

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Appendix 3B New issue announcement

38Number of securities for which+quotation is sought39Class of+securities for whichquotation is sought40Do the+securities rank equally in allrespects from the date of allotmentwith an existing+class of quoted+securities?If the additional securities do notrank equally, please state: the date from which they do theextenttowhichtheyparticipate for the next dividend,(inthecaseofatrust,distribution) or interest payment the extent to which they do notrank equally, other than inrelation to the next dividend,distribution or interest payment41Reason for request for quotation nowExample: In the case of restricted securities, end ofrestriction period(if issued upon conversion of anothersecurity, clearly identify that othersecurity)42Number and+class of all+securitiesquoted on ASX (_including_thesecurities in clause 38)
	Number	+Class

• See chapter 19 for defined terms.

Appendix 3B Page 6

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Appendix 3B New issue announcement

Quotation Agreement

• 1 +Quotation of our additional +securities is in ASX’s absolute discretion. ASX may quote the +securities on any conditions it decides.

• 2 We warrant the following to ASX.

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• The issue of the[+] securities to be quoted complies with the law and is not for an illegal purpose.

• There is no reason why those[+] securities should not be granted[+] quotation.

• An offer of the[+] securities for sale within 12 months after their issue will not require disclosure under section 707(3) or section 1012C(6) of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

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• Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any[+] securities to be quoted and that noone has any right to return any[+] securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the[+] securities be quoted.

• We warrant that if confirmation is required under section 1017F of the Corporations Act in relation to the[+] securities to be quoted, it has been provided at the time that we request that the[+] securities be quoted.

• If we are a trust, we warrant that no person has the right to return the[+] securities to be quoted under section 1019B of the Corporations Act at the time that we request that the[+] securities be quoted.

• 3 We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.

• 4 We give ASX the information and documents required by this form. If any information or document not available now, will give it to ASX before[+] quotation of the[+] securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

Sign Here: Date: Tuesday 1[st] December 2009 Company Secretary Print Name: Phillip Hains

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1/12/2009

• See chapter 19 for defined terms.

1/1/2003

Appendix 3B Page 7