THORNEY TECHNOLOGIES LTD — Capital/Financing Update 2017

Jan 12, 2017

THORNEY TECHNOLOGIES LTD

ABN: 66 096 782 188

ASX Announcement: 13 January 2017

ASX Code: TEK

TEK COMPLETES ITS CAPITAL RAISING

The Board of Thorney Technologies Ltd is pleased to announce that the
Company has completed its capital raising.

The Company’s shares are expected to re-commence trading on the ASX next
Wednesday 18 January 2017.

The Company has raised approximately $42.5 million of capital (including
the transfer of the seed assets from the Thorney Group).  Thorney Holdings
Proprietary Limited’s shareholding in the Company is 22.5%.

Completion of the capital raise and the re-commencement of trading on the
ASX will complete Thorney Technologies Ltd’s transformation to a listed
investment company, managed by Thorney Management Services Pty Ltd, with a
broad mandate to focus on technology related investments.

The Company has issued 167,269,487 new ordinary shares under the Offer and
a further 25,849,273 new ordinary shares to Thorney Holdings Proprietary
Limited in exchange for seed investments under the Asset Sale Agreement.

All applicants in the Priority Offer, Retail Offer and Placement Offer
have been sent CHESS notices or issuer sponsored holding statements, with
the majority of these mailed to shareholders yesterday, 12 January 2017.

Total number of ordinary shares now quoted on ASX: 193,538,840

Please direct enquiries to:
Craig Smith
Company Secretary
craig.smith@thorney.com.au

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