RAGUSA MINERALS LTD — Capital/Financing Update 2017

Sep 28, 2017

SIV Asset Management Limited ACN 143 194 165

Level 17, 500 Collins Street Melbourne VIC 3000 Australia

ASX Code: SAM

29 September 2017

ASX MARKET ANNOUNCEMENT

NON-RENOUNCEABLE RIGHTS ISSUE OF SHARES AND OPTIONS WITHDRAWAL OF OFFERS

SIV Asset Management Limited (ASX: SAM) ( Company ) lodged a prospectus with the Australian Securities and Investments Commission ( ASIC ) and ASX on 26 September 2017 in connection with a pro-rata non-renounceable offer of shares and options and an associated shortfall offer (together, the Offers ).

After consultation with ASIC and ASX, the Company wishes to advise that it has lodged a supplementary prospectus (copy attached) with ASIC today to withdraw the Offers under the Prospectus.

As a consequence, the Offers are now closed and the timetable for the Offers as set out in the Prospectus is no longer in effect. Accordingly, no securities will be issued and the Company will not be accepting any applications. The Company has received no applications to-date in respect of the Offers.

For further information, contact:

Mr Adrien Wing Company Secretary +61 3 9614 0600

SUPPLEMENTARY PROSPECTUS SIV Asset Management Limited ACN 143 195 165

1. Important Information

This Supplementary Prospectus is dated 29 September 2017 and is supplementary to the prospectus dated 26 September 2017 ( Prospectus ) issued by SIV Asset Management ACN 143 195 165 ( Company ).

This Supplementary Prospectus was lodged with the Australian Securities and Investments Commission ( ASIC ) on 29 September 2017. ASIC does not take any responsibility for the contents of this Supplementary Prospectus.

This Supplementary Prospectus must be read together with the Prospectus. If there is a conflict between the Prospectus and this Supplementary Prospectus, this Supplementary Prospectus will prevail. Terms defined in the Prospectus have the same meaning where used in this Supplementary Prospectus. For the avoidance of doubt, references to 'Section' in this Supplementary Prospectus mean references to that section of the Prospectus, unless otherwise stated.

This document is important and should be read in its entirety. Please consult your legal, financial or other professional adviser if you do not fully understand the contents.

Other than the changes set out below, all other details in relation to the Prospectus remain unchanged.

2. Purpose of this Supplementary Prospectus

The purpose of this Supplementary Prospectus is to notify investors that the Company has resolved to withdraw the Prospectus and the Rights Offer and Shortfall Offer (together, the Offers ) contained within. This Supplementary Prospectus formally withdraws the Offers.

The expiry date of the Prospectus is brought forward to the date of this Supplementary Prospectus. Accordingly, the Company advises that the Offers are now closed and that the timetable for the Offers as set out in the Prospectus is no longer in effect.

No securities will be issued and the Company will not be accepting any applications. The Company has received no applications to-date in respect of the Offers.

3. Directors’ Authorisation

This Supplementary Prospectus is issued by the Company and its issue has been authorised by a resolution of the Directors.

In accordance with section 720 of the Corporations Act, each Director has consented to the lodgement of this Supplementary Prospectus with the ASIC.

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_____________________________ Simon Lindsay Managing Director

29 September 2017

This is a supplementary prospectus intended to be read with the prospectus dated 26 September 2017 issued by SIV Asset Management Limited (ACN 143 195 165).