REDIVIUM LIMITED — AGM Information 2012

Jan 30, 2012

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HANNANS

(ASX: HNR) Annual General Meeting

31 January 2012 (To be read in conjunction with the Notice of Meeting dated 23 December 2011)

BOARD OF DIRECTORS

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RICHARD SCALLAN NON-EXECUTIVE CHAIRMAN

Mr Scallan is a Mining Engineer with 54 years experience in underground and open cut mining, and exploration in South Africa, Zimbabwe and Australia. Dick was employed by the Anglo American Corporation of South Africa Limited for 26 years and joined Renison Goldfields Limited in 1981 where he was employed for 21 years.

DAMIAN HICKS MANAGING DIRECTOR

Mr Hicks was a founding Director of Hannans Reward Limited. Mr Hicks holds a Bachelor of Commerce (Accounting and Finance) from the University of Western Australia, is admitted as a Barrister and Solicitor of the Supreme Court of Western Australia and is a Graduate Member of the Australian Institute of Company Directors.

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WILLIAM HICKS NON-EXECUTIVE DIRECTOR

Mr Hicks was a founding Director of Hannans Reward Ltd. Mr Hicks has been actively involved in the progress and development of a number of well-known exploration companies. He was a director and secretary of Spargo’s Reward Gold Mines NL and was instrumental in the listing on the ASX of both Central Kalgoorlie Gold Mines NL and Maritana Gold NL.

JONATHAN MURRAY NON-EXECUTIVE DIRECTOR

Mr Murray is a partner at law firm Steinepreis Paganin, based in Perth, Western Australia. He has significant experience in advising on initial public offers and secondary market capital raisings, all forms of commercial acquisitions and divestments and providing general corporate and strategic advice.

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2

GROUP STRUCTURE

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HANNANS
(ASX:HNR)
HANNANS HANNANS
REWARD INVESTMENT
EXPLORATION MANAGEMENT
Equities Investments Transaction Services &
Australian Exploration Cash Corporate
Convertible Notes Management
International
Exploration
(Resources & Rewards)
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3

CORPORATE STRUCTURE

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SHAREHOLDERS
HANNANS REWARD
LTD
(ASX: HNR)
HR EQUITIES HR SUBSIDIARY
PTY LTD PTY LTD
HR FORRESTANIA ERRAWARRA
PTY LTD PTY LTD
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MANGANESE ‘SPIN OUT’

BACKGROUND

• ‘Spin out’ to create a new independent manganese company referred to as NewCo

• Manganese assets considered to have significant potential value

• ‘Spin out’ will protect shareholder value in the interim by preventing an unsolicited bid for these assets while NewCo consolidates a portfolio of manganese assets

• Foundation asset to be the East Pilbara manganese project

• These same assets are being attributed a zero value by the stock market (i.e market capitalisation of Hannans Reward Ltd is less than the net asset position of the Company)

• Spin out’ is an attempt to implement a focussed manganese strategy

• Shareholders will hold shares in NewCo

• New Board created to implement manganese strategy

• Hannans Exploration Team to continue providing exploration services

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MANGANESE ‘SPIN OUT’

APPROACH

• ‘Spin out’ of manganese assets held by Hannans subsidiary, Errawarra (excluding Atlas Iron Ltd iron rights) into NewCo to be owned by existing Hannans shareholders

• Hannans will retain all non-manganese rights

• For every share held in Hannans, shareholders will receive the same number of shares in NewCo

• Manganese exploration to continue being funded by Hannans (via repayment of an existing loan)

• After repayment of the existing loan, Hannans may provide a convertible loan of $2.5m to NewCo should additional funding be required

6

MANGANESE ‘SPIN OUT’ STRUCTURE

AFTER

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BEFORE AFTER
HNR HNR HNR
Shareholders Shareholders Shareholders
NewCo
HNR HNR
(to be incorporated)
HR Equities Pty HR Subsidiary HR Equities HR Subsidiary Errawarra
Ltd Pty Ltd Pty Ltd Pty Ltd Pty Ltd
HR
HR Forrestania Errawarra
Forrestania Assets
Pty Ltd Pty Ltd
Pty Ltd
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NEWCO STRATEGY

• Envisages once NewCo has reached a critical scale it will seek to raise additional capital through an IPO

• In lieu of not undertaking an IPO, the Company will seek to raise capital via a private equity raising

• In the event an IPO or private equity raising are not considered a viable option the introduction of a joint venture partner may be considered

• In the event none of the options listed above are considered possible projects an asset sale may occur and proceeds from the sale would be used to invest in new resource

9

PROJECT OVERVIEW

Projects are strategically located within the southern Yilgarn and SE Pilbara regions of WA

• Forrestania Project, target commodities include nickel, gold and iron (hematite)

• Lake Johnston Project, target commodities include nickel and gold

• Queen Victoria Rocks Project, target commodities include nickel and gold

• East Pilbara Project, target commodities include manganese, base metals and gold

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EXPLORATION

Hannans tenement portfolio has increased by 726 sq km’s (~20%) New exploration geologist Tom Lyons employed in Mar 2011 Physical exploration on all projects for the 2011 calendar year included:

• 9,311 geochemical samples

• 11.15 line km’s of moving loop TEM

• 46.1 line km’s of Fixed Loop TEM

• 5,974 gravity readings

• 23 aircore holes for 793 metres

• 252 RC percussion holes for 17,576 metres

• 16 diamond holes for 408 metres

• plus many hours of data collation, validation, mapping and interpretation

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FORRESTANIA PROJECT

• Nickel sulphide exploration has been very focused within the Stormbreaker and Lucy Rocks Prospect areas, and along strike from the stratigraphy which is host to the Flying Fox and Spotted Quoll Nickel deposits (ASX:WSA)

• Exploration targeting for hematite iron mineralisation commenced during the year with a number of prospective targets outlined for follow up exploration.

Year to June 2011 Exploration Stats

Activity	Completed
Geochemistry	6,619 surface samples
Surface EM	27 line km's of TEM
Aircore Drilling	23 holes for 793 metres
RC Percussion Drilling	18 holes for 3,869 metres

July to Dec 2011 Exploration Stats

Activity	Completed
Geochemistry	2,727 auger samples
Surface EM	2.5 line km's of MLEM
RC Percussion Drilling	24 holes for 3,367 metres

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FORRESTANIA PROJECT Skeleton Rocks Prospect

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•
More recent exploration
has shifted north to
Skeleton Rocks where data
compilation and surface
geochemistry has
identified gold and nickel
anomalism
•
Exploration will continue in
the form of surface
geochemical sampling,
ground TEM and
reconnaissance field work.
•
Any high priority targets will
be drill tested during the
second half of 2012.
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FORRESTANIA PROJECT Exploration Expenditure

	July 2006 to June 2007	July 2007 to June 2008	July 2008 to June 2009	July 2009 to June 2010	July 2010 to June 2011	July 2011 to Dec 2011	Total
	$	$	$	$	$	$	$ %
Geological Activities Geochemical Activities Geophysical Survey Airborne Geophysical Survey Non Core Drilling Field Supplies Drafting Activities Travel Field Camp activities Environmental Rehabilitation Activities Aboriginal Heritage Surveys Annual Tenement Rent Annual Tenement Rates Administration & Overheads Application Fees Acquisition Fees Penalty & Exemption Fees	55,824 6,327 164,942 - 83,250 214 1,280 2,782 5,484 59,678 591 - - - 2,398 3,866 250,000 -	115,142 129,390 229,424 - 286,606 20,271 1,918 16,658 9,974 1,895 2,200 - 4,726 1,571 1,586 - 5,386 -	23,231 21,284 15,696 - 2,160 - 619 - 4,950 11,650 - - 4,514 5,459 16,125 - - 3,150	178,127 87,093 373,921 158,607 317,758 95,596 3,510 10,988 38,674 32,854 - 11,240 39,716 31,345 28,406 96,260 - 12,412	217,814 336,848 160,480 - 536,137 121,435 28 16,594 64,116 91,161 14,875 - 40,545 51,105 20,929 33,872 - 11,806	54,911 157,094 30,106 - 436,859 80,679 2,218 16,948 32,754 3,121 - - 34,459 69,620 18,359 - - -	645,048 11.2% 738,035 12.8% 974,570 17.0% 158,607 2.8% 1,662,771 28.9% 318,195 5.5% 9,572 0.2% 63,970 1.1% 155,952 2.7% 200,360 3.5% 17,666 0.3% 11,240 0.2% 123,960 2.2% 159,101 2.8% 87,803 1.5% 133,999 2.3% 255,386 4.4% 27,368 0.5%
Total	636,636	826,746	108,838	1,516,508	1,717,744	937,129	5,743,601 100%

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LAKE JOHNSTON PROJECT

• The project includes a number of high grade gold occurrences, historical exploration for gold within the project has been limited.

• Considerable effort has been directed towards advancing the gold exploration in the form of infill soil sampling, gravity surveys and RC percussion drilling at the Hardcore and Mt Gordon Prospects.

Year to June 2011 Exploration Stats

Activity	Completed
Geochemistry	3,012 surface samples
Surface EM	8 line km's of surface TEM
Gravity	4,450 stations
RC Percussion Drilling	21 holes for 5,039 metres

July to Dec 2011 Exploration Stats

Activity	Completed
Geochemistry	6 rock chip samples
Surface EM	6 line km's of MLEM
Gravity	3,901 stations
RC Percussion Drilling	20 holes for 3,175 metres

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LAKE JOHNSTON PROJECT Mt Gordon Prospect

• The Mt Gordon Prospect area is considered to be a stand out gold prospect.

• 31 holes have been completed to date, assays have been received for 12 holes to date.

• Drilling is expected to be completed during Feb 2012, with all assays received by the end of April 2012.

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LAKE JOHNSTON PROJECT

Exploration Expenditure

	July 2006 to June 2007	July 2007 to June 2008	July 2008 to June 2009	July 2009 to June 2010	July 2010 to June 2011	July 2011 to Dec 2011	Total
	$	$	$	$	$	$	$ %
Geological Activities Geochemical Activities Geophysical Survey Airborne Geophysical Activities Non Core Drilling Field Supplies Drafting Activities Travel Field Camp activities Aboriginal Heritage Surveys Environmental Rehabilitation Activities Annual Tenement Rent Annual Tenement Rates Administration & Overheads Application Fees	29,520 31,621 14,624 33 - 452 - 734 711 - - - 2,173 1,575 329 3,394	73,555 19,383 - 1,511 - 504 138 1,034 522 16,368 - - 2,293 1,809 8,180 6,484	5,813 49,379 1,920 - - 101 41 343 551 - - - 2,932 2,048 13,845 3,761	147,599 58,907 8,619 40,947 169,813 10,961 725 3,349 5,765 - - - 8,231 4,011 8,093 261	248,954 140,625 130,424 - 504,035 90,035 14,754 6,261 49,851 - 23,514 7,970 12,313 6,802 25,597 19,922	83,618 58,821 35,899 - 364,422 70,377 126 2,960 55,541 - 39,064 - 4,967 7,914 6,938 -	589,059 21.2% 358,734 12.9% 191,485 6.9% 42,490 1.5% 1,038,269 37.4% 172,431 6.2% 15,784 0.6% 14,681 0.5% 112,942 4.1% 16,368 0.6% 62,578 2.3% 7,970 0.3% 32,908 1.2% 24,158 0.9% 62,981 2.3% 33,822 1.2%
Total	85,165	131,780	80,733	467,280	1,281,056	730,647	2,776,661 100%

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QUEEN VICTORIA ROCKS PROJECT

• Exploration has been directed towards improving the geochemical and geophysical coverage along strike from the Spargos nickel sulphide occurrence.

• The tenement portfolio has been extended towards the north covering the prospective stratigraphy.

Year to June 2011 Exploration Stats

Activity	Completed
Geochemistry	1,228 surface samples
Surface EM	57.25 line km's of surface TEM
RC Percussion Drilling	14 holes for 3,388 metres

July to Dec 2011 Exploration Stats

Activity	Completed
Airborne Magnetics	850 line km’s

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QUEEN VICTORIA ROCKS PROJECT

Exploration Expenditure

	July 2006 to June 2007	July 2007 to June 2008	July 2008 to June 2009	July 2009 to June 2010	July 2010 to June 2011	July 2011 to Dec 2011	Total
	$	$	$	$	$	$	$ %
Geological Activities Geochemical Activities Geophysical Survey Airborne Geophysical Activities Surveying Activities Non Core Drilling Field Supplies Drafting Activities Travel Field Camp activities Environmental Annual Tenement Rent Annual Tenement Rates Administration & Overheads Application Fees	82,055 156,892 79,333 - 20,936 264,486 3,190 - 1,911 2,185 9,868 8,589 4,493 - 14,003	76,504 31,784 8,925 205,075 - - 2,084 - 110 35 - 10,410 5,747 - -	- - - - - - - - - - - 1,683 997 6,020 -	58,109 2,275 20,538 - - - 995 - 1,738 5,191 - 11,038 4,851 5,439 -	208,258 99,843 222,519 12,000 - 296,242 68,490 5,381 9,105 17,389 4,200 23,474 9,924 30,531 15,085	2,160 - 6,169 12,000 - - 758 850 270 6,430 - 8,383 10,867 6,361 -	427,087 19.6% 290,794 13.3% 337,483 15.5% 229,075 10.5% 20,936 1.0% 560,728 25.7% 75,516 3.5% 6,231 0.3% 13,134 0.6% 31,230 1.4% 14,068 0.6% 63,577 2.9% 36,879 1.7% 48,351 2.2% 29,089 1.3%
Total	647,941	340,673	8,699	110,174	1,022,441	54,247	2,184,176 100%

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EAST PILBARA PROJECT

• The region is well endowed with numerous manganese, iron and base metal deposits.

• Tenements cover a large strike extent (~100km’s) and also includes the prospective manganese stratigraphy.

• Exploration has been directed towards manganese target generation and definition.

Year to June 2011 Exploration Stats

Activity	Completed
Geochemistry	246 surface samples

July to Dec 2011 Exploration Stats

Activity	Completed
Geochemistry	21 rock chip samples
RC Percussion Drilling	186 holes for 6,060 metres
Diamond Drilling	16 holes for 408 metres

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EAST PILBARA PROJECT Hill 616 Prospect

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• Recent RC drilling has outlined extensive zones of near surface Mn mineralisation over a strike extent of ~2 km’s.

• Best intervals include the following;

• JMRC015 – 13m @ 15.07% Mn from surface

• JMRC018 – 12m @ 15.90% Mn from 4m

• JMRC051 – 12m @ 15.18% Mn from 3m

• JMRC060 – 10m @ 15.76% Mn from 2m

• JMRC066 – 9m @ 16.15% Mn from 5m

• JMRC168 – 4m @ 25.56% Mn from 6m Including 1m @ 31.758% Mn

• High grade Mn mineralisation intersected in JDDH01 remains open to the south.

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MANGANESE MINERALISATION

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Metallurgical samples collected from high and medium grade zones

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EAST PILBARA PROJECT

Exploration Expenditure

	July 2006 to June 2007	July 2007 to June 2008	July 2008 to June 2009	July 2009 to June 2010	July 2010 to June 2011	July 2011 to Dec 2011	Total
	$	$	$	$	$	$	$ %
Geological Activities Geochemical Activities Geophysical Activities Airborne Geophysical Activities Core Drilling Non Core Drilling Field Supplies Drafting Activities Travel Field Camp activities Feasability Studies Rehabilitation Activities Aboriginal Heritage Surveys Annual Tenement Rent Annual Tenement Rates Administration & Overheads Land Access/Native Title Application Fees	22,592 143,456 2,470 29,207 - - 32 89 3,509 2,520 - - - 18,718 5,216 296 - 11,705	29,602 54,994 105,887 29,728 - - 1,860 435 12,778 6,008 - - 46,477 37,638 5,499 1,279 80,130 2,925	93,765 120,406 317,999 1,850 - 622,430 43,353 1,752 32,285 16,856 14,060 - 38,882 30,214 3,637 2,054 1,040 17,734	122,721 96,572 17,103 21,292 - 102,762 2,538 307 8,837 11,109 - 19,833 - 40,112 13,956 15,549 422,292 507	195,185 27,306 5,513 - - - 17,805 28 7,236 14,114 - 15,889 - 89,323 24,542 1,410 - 12,480	120,198 166,545 1,560 - 201,659 359,103 132,264 2,471 34,589 76,513 1,620 - 13,013 23,113 25,960 7,688 2,799 30,158	584,063 12.9% 609,279 13.5% 450,531 10.0% 82,076 1.8% 201,659 4.5% 1,084,295 24.0% 197,852 4.4% 5,080 0.1% 99,234 2.2% 127,120 2.8% 15,680 0.3% 35,722 0.8% 98,371 2.2% 239,118 5.3% 78,810 1.7% 28,276 0.6% 506,261 11.2% 75,509 1.7%
Total	239,810	415,239	1,358,317	895,491	410,829	1,199,251	4,518,936 100%

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EXPLORATION OBJECTIVES 2012

FORRESTANIA PROJECT

• Continue to advance nickel and gold exploration within the Skeleton Rocks Prospect nd

• area, define drill targets for the 2 half of 2012.

• • Continue to advance Iron (hematite) exploration within the Stormbreaker and Skeleton st

• Rocks Prospect areas, drilling to commence at Stormbreaker during 1 quarter 2012.

LAKE JOHNSTON PROJECT

• Complete drilling program at Mt Gordon and assess results, additional follow up drilling may be required during the second half of 2012.

• Continue to advance Nickel exploration using high powered surface TEM along prospective ultramafic unit.

QVR PROJECT

• Complete detailed interpretation of the Spargos Prospect and surrounding area (relogging drill core).

• Implement first pass Ni sulphide exploration programs (soil/auger sampling) on the northern tenements (Yarmany Prospect).

EAST PILBARA PROJECT

• Continue to define the Mn mineralisation at the Hill 616 Prospect, submit mineralisation report to the DMP.

• Plan and implement drilling programs over other high priority Mn targets.

• Implement first pass exploration programs (soil/auger sampling) for base metal exploration, trial ground geophysics at Mundaroo Zn prospect.

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CASH EXPENDITURE & HNR SHARE PRICE

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Expenses/(Income) HNR Share Price
A$'000 A$
2,000
Administration & Other
0.95
Exploration and Evaluation
HNR Share Price
0.85
1,500 0.75
0.65
0.55
1,640
1,000
0.45
1,364
980
908
1,347 1,121 1,398 0.35
661
721
500 403 418 0.25
546
339 667 541 475
131 272 388
390 196 0.15
330 245 69
158 261 386
0 92 144 99 158109 118 10477 19397 143106 246 24 265 268 135 69 305 281 219 292 30 145 13 228 14245 207 235 194 149 172 139 158 240 283 276 0.05
Dec 2003 Jun 2004 Dec 2004 Jun 2005 Dec 2005 Jun 2006 Dec 2006 Jun 2007 Dec 2007 Jun 2008 Dec 2008 Jun 2009 Dec 2009 Jun 2010 Dec 2010 Jun 2011 Dec 2011
-0.05
(494)
-0.15
(500) -0.25
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HANNANS INVESTMENT MANAGEMENT

VALUATION OF EQUITIES as of 31 December 2011	VALUATION OF EQUITIES as of 31 December 2011	VALUATION OF EQUITIES as of 31 December 2011	VALUATION OF EQUITIES as of 31 December 2011	VALUATION OF EQUITIES as of 31 December 2011	VALUATION OF EQUITIES as of 31 December 2011
COMPANY	TYPE	NUMBER	PRICE ($)	VALUE ($)	NOTES
AGO	FPO	4,300,000	2.70	11,610,000	1
SCR	FPO	19,585,235	0.20	3,917,047
Other	FPO	165,000	0.08 - 0.15	23,150
SCR	Options(ex. 20c)	1,250,001	0.07	87,500	2
SCR	Options(ex. 40c)	500,000	0.04	20,000	3
TOTAL EQUITIES AND CASH				18,110,108

LOAN as of 31 December 2011	LOAN as of 31 December 2011	LOAN as of 31 December 2011	LOAN as of 31 December 2011
TO	FACILITY ($)	DRAWN DOWN ($)	NOTES
Kiruna Iron AB	3,250,000	3,250,000	4
Scandinavian Resources Ltd	1,250,000	395,000	4
Other
TOTAL	4,500,000	3,645,000
Total Loan Interest	99,767
TOTAL RECEIVABLE	3,744,767		4,5

Notes

1. Approximately 300,000 AGO shares were sold during January 2012

2. Theoretical value calculated using BSOPM with 3.16% risk free rate, 100% volatility & 305 days to maturity as of 31 December 2011

3. Theoretical value calculated using BSOPM with 3.16% risk free rate, 100% volatility & 350 days to maturity as of 31 December 2011

4. Assumes 100% of amount currently drawn, converted into SCR at 33c and 66c respectively

5. Refer Financial Report for the Annual Year Ended 30 June 2011

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CORPORATE BOARD SERVICES

• CBS revenue reduces Hannans’ fixed cost

• CBS offers Hannans shareholders opportunities to access new offerings

• CBS utilises expertise of Hannans corporate team to provide transaction services and corporate management services to listed and unlisted private and public companies

FEES INVOICED
Jan – Mar 2011	$44,932.61
Apr – Jun 2011	$125,503.28
Jul – Sep 2011	$101,887.53
Oct – Dec 2011	$73,579.66
TOTAL	$345,903.08

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TOP 20 HOLDERS

as of 31 December 2011

Rank	Name	Units	% of Units
1.	JP Morgan Nominees Australia Limited	11,168,023	8.48%
2.	Marfield Pty Limited	8,724,543	6.63%
3.	Aust Global Resources Pty Ltd	3,636,363	2.76%
4.	Acacia Investments Pty Ltd	3,554,697	2.70%
5.	Eric Preston Pty Ltd	2,825,000	2.15%
6.	Mossisberg Pty Ltd	2,296,296	1.74%
7.	Dixon International Pty Ltd	2,075,720	1.58%
8.	HSBC Custody Nominees (Australia) Limited	1,778,200	1.35%
9.	Ms Mara Jane Rudd	1,700,000	1.29%
10.	Navigator Australia Ltd	1,608,989	1.22%
11.	Kanaslex Pty Limited	1,548,296	1.18%
12.	Ms Susan Eileen Dechow	1,500,001	1.14%
13.	Bonord Pty Ltd	1,500,000	1.14%
14.	Mr Terrence Ronald Grammer	1,500,000	1.14%
15.	Susern Holdings Pty Ltd	1,500,000	1.14%
16.	Mandies Meats Pty Ltd	1,497,000	1.14%
17.	Mr Terrence Ronald Grammer	1,390,000	1.06%
18.	Jigalong Community Inc/c	1,306,500	0.99%
19.	Mr David Milorad Novac + Ms Cathy Lee Sheehan	1,206,346	0.92%
20.	Nijinsky Corporation Pty Ltd	1,200,600	0.91%
Totals:	Top 20 holders of ORDINARY SHARES (GROUPED)	53,516,574	40.65%
Total Remaining Holders Balance		78,132,141	59.35%

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HANNANS REWARD LTD CAPITAL STRUCTURE as of 31 December 2011	HANNANS REWARD LTD CAPITAL STRUCTURE as of 31 December 2011	HANNANS REWARD LTD CAPITAL STRUCTURE as of 31 December 2011
TYPE	NUMBER	EXPIRY
FPO 131,648,715 Options (ex. 80c) 1,000,000 30-Jun-12 Options (ex. 40c) 100,000 30-Jun-12 Options (ex. 80c) 1,000,000 30-Jun-13 Options (ex. 20c) 2,000,000 30-Jun-13 Options (ex. 20c) 300,000 20-Jul 13 Options (ex. 75c) 300,000 20-Jul 13 Options (ex. 100c) 300,000 20-Jul 13 Fully diluted FPO 133,948,715

HNR 2011 RELATIVE PERFORMANCE

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CONTACT US

For more information contact: Damian Hicks Managing Director Hannans Reward Ltd Tel: +61 8 9324 3388 Email: admin@hannansreward.com

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