NEXTED GROUP LIMITED — Capital/Financing Update 2014

Apr 30, 2014

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ASX Announcement

1 May 2014

Manager of Company Announcements

ASX Limited

Exchange Centre 20 Bridge Street SYDNEY NSW 2001

- By E Lodgement

Statement of Capital Structure

The Company completed the acquisition of iCollege Holdings Pty Ltd. Set out below is a statement of the capital structure of the Company on the completion of the acquisition of iCollege Holdings Pty Ltd and the issue of securities pursuant to the prospectus dated 24 February 2014:

Capital Structure		Shares	Performance Shares	Performance Shares		Options
Existing capital on issue		25,970,229		Nil		6,344,291
Consideration Securities		16,666,667		10,000,002		8,333,333
Issue under the Prospectus		13,383,950		Nil		Nil
TOTAL		56,020,846		10,000,002		14,677,624

*The existing options on issue and terms are as follows

11,667 Options exercisable at $30.00 and expiring 28/8/14. 3,334 Options exercisable at $30.00 and expiring 1/5/17. 5,955 Options exercisable at $1.39 and expiring 8/7/14. 2,989,994 Options exercisable at $0.20 and expiring 31/12/15. 3,333,341 Options exercisable at $0.30 and expiring 31/3/19.

iCollege Ltd ABN 75 105 012 066 ASX: ICT

P: (08) 6380 2555 F: (08) 9381 1122 Email: admin@icollege.net

Suite 1 Ground Floor 437 Roberts Road Subiaco WA 6008

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Statement of commitments

The table below sets out the application of actual funds received under the prospectus dated 24 February 2014 over a two year period.

Funds Available	$
Existing cash reserves	794,345
Funds raised from the offer	2,676,790
Totals	3,471,135

Allocation of Funds	$	%
Expenses of the offer	291,299	8.39%
Advertising	625,819	18.03%
Course development	1,472,517	42.42%
Digital marketing	350,000	10.08%
Miscellaneous	39,500	1.14%
Working Capital	692,000	19.94%
TOTALS	3,471,135	100.00%

iCollege Ltd ABN 75 105 012 066 ASX: ICT

Suite 1 Ground Floor 437 Roberts Road Subiaco WA 6008

P: (08) 6380 2555 F: (08) 9381 1122 Email: admin@icollege.net

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Pro-forma Balance Sheet

The table below sets out the financial position of the Company, updated to include actual the amount of funds raised pursuant to the prospectus dated 24 February 2014.

Notes Current Assets Cash assets 1 Receivables Other current assets Total current assets Net Current Assets Property, plant & equipment Intangible assets 2 Total non-current assets Total assets Current Liabilities Trade payables Total current liabilities Total liabilities Net assets Equity Issued capital 3 Share issue cost 4 Options reserve 5 Accumulated losses Total equity	ASX Announcement (Unaudited) 8 April 2014 (Unaudited) Pro-forma $ $ 3,471,135 3,263,278 18,311 18,311 2,625 2,625 3,492,071 3,284,214 20,150 20,150 31,994 1,656,994 52,144 1,677,144 3,544,215 4,961,358 2,531 2,531 2,531 2,531 2,531 2,531 3,541,684 4,958,827 29,212,118 30,462,118 (274,696) (482,553) 116,130 491,130 (25,511,868) (25,511,868) 3,541,684 4,958,827

P: (08) 6380 2555 F: (08) 9381 1122 Email: admin@icollege.net

Suite 1 Ground Floor 437 Roberts Road Subiaco WA 6008

iCollege Ltd ABN 75 105 012 066 ASX: ICT

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Note 1: Cash

	$
		~~S~~X Announcement
Balance at 8 April 2014	~~A~~ 3,471,135
Expenses of the issue	(207,857)*
Closing balance	3,263,278

*The difference between the expenses of the Offer on the Statement of Commitments and the Pro-forma Balance Sheet is because

$83,442 of the total expenses of the issue had already been paid by the Company as at 8 April 2014.

Note 2: Intangible Assets

	$
Balance at 8 April 2014	31,994
Acquisition of intellectual property	1,625,000
	1,656,994

Note 3: Issued capital

	$
Balance at 8 April 2014	29,212,118
Exercise of option to acquire iCollege	1,250,000
Closing balance	30,462,118

Note 4: Share issue cost

	$
Balance at 8 April 2014	(274,696)
Share issue costs pursuant to the issue of securities under the Prospectus	(207,857)
Closing balance	(482,553)

iCollege Ltd ABN 75 105 012 066 ASX: ICT

Suite 1 Ground Floor 437 Roberts Road Subiaco WA 6008

P: (08) 6380 2555 F: (08) 9381 1122 Email: admin@icollege.net

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Note 5: Options reserve

	$
Balance at 8 April 2014	116,130
Exercise of option to acquire iCollege	375,000
Closing balance	491,130

END

iCollege Ltd ABN 75 105 012 066 ASX: ICT

Suite 1 Ground Floor 437 Roberts Road Subiaco WA 6008

P: (08) 6380 2555 F: (08) 9381 1122 Email: admin@icollege.net