THORNEY TECHNOLOGIES LTD — Major Shareholding Notification 2011

May 19, 2011

TIGA TRADING PTY LTD

ABN 95 118 961 210

Level 39, 55 Collins Street, Melbourne Vic 3000 Telephone +613 9921 7171 Facsimile +613 9921 7100

20 May 2011

BY ASX ONLINE - 4 pages

Manager Company Announcements ASX Limited Level 10 20 Bond Street SYDNEY 2000

Dear Sir/Madam,

Notice of change in interests of substantial holder Australian Renewable Fuels Limited [ASX:ARW]

Following is a Form 604 Notice of c hange in interests of substantial holder dated 20 May 2011 in accordance with section 671B of the Corporations Act 2001 (the Act).

I confirm that the original Form 604 has been served on Australian Renewable Fuels Limited by express post today pursuant to section 671B(1)(b) of the Act.

Yours sincerely,

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CRAIG SMITH ACIS, CPA Secretary

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To: company name/scheme AUSTRALIAN RENEWABLE FUELS LIMITED ACN/ARSN ABN 66 096 782 188

1. Details of substantial holder

Name

Name TIGA TRADING PTY LTD ACN 118 961 210 (TIGA) and each of its related bodies corporate listed in the attached Schedule “A” to this notice, Jasforce Pty Ltd ACN 007 167 173, and Early Force Pty Ltd ACN 103 134 363.

ACN (if applicable) As above

There was a change in the interests of the substantial holder on 16/05/11 The previous notice was given to the company on 06/05/11 The previous notice was dated 06/05/11

2. Previous and present voting power

The total number of shares votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate had a relevant interest in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of Securities	Previous Notice	Previous Notice	Present Notice	Present Notice
	Person’s votes	Voting power	Person’s votes	Voting power
Fully Paid Ordinary Shares	131,201,958	9.11%	134,761,068	8.05%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, relevant interests of the substantial holder or an associate in voting securities of the company or scheme since the substantial holder was last required to give a substantial holding notice to the company are as follows:

Date of Change	Person whose relevant interest changed	Nature of change	Consideration given in relation to change	Class and number of securities affected	Person’s votes affected
13-May-11	TIGA	On market purchase	Market price	3,179,177ordinary shares	TIGA
16-May-11	TIGA	On market purchase	Market price	379,933 ordinary shares	TIGA

Notice of change of interests of substantial holder

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as **holder **	Nature of relevant interest	Class and number of shares	Person’s votes
TIGA Trading Pty Ltd	UBS Nominees Pty Ltd	TIGA	Beneficial Owner	111,059,110 ordinary shares	111,059,110
Early Force Pty Ltd	Early Force Pty Ltd	Early Force Pty Ltd	Beneficial Owner	17,500,000 fully paid ordinary shares	17,500,000
Jasforce Pty Ltd	Jasforce Pty Ltd	Jasforce Pty Ltd	Beneficial Owner	6,201,958 fully paid ordinary shares	6,201,958

5. Changes in association

The persons who have become associates of, ceased to be associates of, or have changed the nature of their association with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name Nature of association

6. Addresses

The addresses of persons named in this form are as follows:

Name	Address
TIGA TradingPtyLtd	Level 39,55 Collins Street,Melbourne 3000
Thorney Investment Group Australia Pty Ltd ACN 117 488 892	Level 39, 55 Collins Street, Melbourne 3000
Jamahjo Pty Ltd ACN 117 488 696	C/- TWF Partners, Level 4, 25 Claremont Street, South Yarra, 3141
EarlyForce PtyLtd	Level 39,55 Collins Street,Melbourne 3000
Jasforce Pty Ltd	C/- TWF Partners, Level 4, 25 Claremont Street, South Yarra, 3141

Signature

Print name CRAIG A G SMITH ACIS, CPA Capacity SECRETARY Sign here Date: 20 May 2011

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Notice of change of interests of substantial holder

This is the schedule referred to in the Form 604 Notice of change of interests of substantial holder signed by me and dated 20 May 2011.

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CRAIG A G SMITH ACIS, CPA Secretary

SCHEDULE ‘A’

RELATED BODIES CORPORATE OF TIGA TRADING PTY LTD

Thistle Custodians Pty Ltd 078 027 193, Level 11, 2 Southbank Boulevard, Southbank 3006 Thistle Holdings Pty Ltd, ACN 075 051 464, Level 39, 55 Collins Street, Melbourne 3000 Thorney Holdings Pty Ltd, ACN 006 262 835, Level 39, 55 Collins Street, Melbourne 3000 Thorney International Pty Ltd, ACN 132 886 698, Level 39, 55 Collins Street, Melbourne 3000 TIGA Property Pty Ltd, ACN 117 811 453, Level 39, 55 Collins Street, Melbourne 3000 TIGA (Ballarat) Pty Ltd, ACN 117 812 030, Level 39, 55 Collins Street, Melbourne 3000 TIGA (Doncaster East) Pty Ltd, ACN 118 521 412, Level 39, 55 Collins Street, Melbourne 3000 TIGA (Hawthorn) Pty Ltd, ACN 126 952 663, Level 39, 55 Collins Street, Melbourne 3000 TIGA Tails Pty Ltd, ACN 080 534 416, Level 39, 55 Collins Street, Melbourne 3000