MAGONTEC LIMITED — Capital/Financing Update 2012

Nov 19, 2012

Office 10 Level 8 139 Macquarie St Sydney NSW 2000 Australia Ph: 61 2 8231 7085 Fax: 61 2 9252 8960

19 November 2012

Company Announcements Office Australian Securities Exchange Limited 20 Bridge Street Sydney, NSW, 2000

Magontec Limited (Company) – Request For Extension of Suspension From Official List

Dear Sirs,

The Company refers to the request dated 15 November 2012 that sought a suspension of trading in the Company's securities pending an announcement to the ASX of the details of a capital raising.

The Company is using the period of suspension of trading of its securities to maximise the extent of underwriting support for the capital raising and negotiate the detail of the underwriting contracts.

That process is as yet incomplete. Accordingly, the Company now requests an extension in the suspension of trading in its securities to the close of trading on Thursday 22 November 2012.

In terms of Listing Rule 17.2, the Company is not aware of any reason as to why its securities should not be suspended.

Yours Sincerely

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John Talbot Company Secretary