MAGONTEC LIMITED — Capital/Financing Update 2012

Nov 14, 2012

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

15 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 12 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 request for suspension foreshadowed that the Company planned to make such announcement in the period prior to the commencement of trading on Friday 16 November 2012.

Some detail of the structure of the capital raising remains unresolved and the Company will therefore be unable to make the announcement within the planned time. Accordingly, the Company now requests an extension in the suspension of trading in its securities to the close of trading on Monday 19 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