Slovar Limited — Capital/Financing Update 2014

May 15, 2014

THORNEY OPPORTUNITIES LTD
ACN 080 167 264
ASX Announcement: 16 May 2014
ASX Code: TOP

THORNEY OPPORTUNITIES LTD ANCHORS MONEY3 SECURED BOND ISSUE

Thorney Opportunities Ltd (TOP) is pleased to announce its commitment to subscribe for $10 million as part of a $30 million bond issue completed by Money3 Corporation Limited (MNY), details of which were announced to ASX earlier today. Thorney Investment Group Australia Pty Ltd (Thorney Group) has committed to subscribe for a further $5 million in the bond issue confirming the anchor position of TOP and Thorney Group in the capital raising.

TOP Chairman, Alex Waislitz, said “TOP’s participation is an example of TOP shareholders investing alongside the private Thorney Group and having access to its deal flow. In anchoring this capital raising, we are confident in the MNY management team, supportive of its growth strategies and optimistic in the upside potential for the company’s earnings. The bond issue provides MNY with additional funding flexibility and represents a further evolutionary step towards a more traditional capital structure for the company to fund its growth”.

As outlined in the MNY announcement earlier today, the bond issue will be completed in two tranches. Tranche 1 was completed on 15 May 2014. Tranche 2 (representing the capital to be subscribed by TOP and Thorney Group) is conditional upon MNY shareholders approving the issue of the options attached to the bond issue. Subject to shareholder approval, all bond holders will receive options in the ratio of 1 option for every $2.00 of bonds subscribed for. TOP will receive 5 million options with a four year expiry period and an exercise price of $1.30.

It is expected that the MNY shareholders meeting to approve the issue of options to bond holders will be held towards the end of June 2014 and that MNY shareholders can expect to receive the relevant documentation shortly. The Directors of MNY have recommended to MNY shareholders that they should vote in favour of all resolutions at the forthcoming MNY shareholders meeting and that they (and their associates) intend to vote in favour of all resolutions.

On 30 April 2014, TOP disclosed a direct shareholding in MNY of 1,204,622 shares (1.12%).

Mr Waislitz said “TOP would continue to pursue investment opportunities which were value accretive for our shareholders, including opportunities to invest alongside Thorney Group”.

Please direct enquiries to:

Craig Smith

Company Secretary

Level 39, 55 Collins Street, Melbourne Vic 3000
Telephone +61 3 9921 7116 Facsimile +61 3 9921 7100