THORNEY TECHNOLOGIES LTD — Net Asset Value 2019

Aug 13, 2019

Thorney Technologies Ltd ABN 66 096 782 188

ASX Announcement Date: 14 August 2019ASX Code: TEK

NET TANGIBLE ASSET BACKING ANNOUNCEMENT – JULY 2019

In accordance with ASX Listing rule 4.12 we advise the following:

Net Tangible Asset backing per share (NTA)

Current month	Before Tax	After Tax
31 July 2019	32.3 cents	35.4¹cents
Previous month	Before Tax	After Tax
30 June 2019	31.0 cents	34.2¹cents

¹ At the end of each reporting period, TEK Directors reassesses the unrecognised deferred tax assets the quantum of which have been disclosed in the tax notes of its annual reports and in the 2016 Prospectus. Based on its track record since inception and in consultation with EY, the TEK Directors have resolved to recognise a portion of the previously unrecognised deferred tax asset to the extent that it has become probable that future taxable profit will allow the deferred tax asset to be recovered.

The initial recognition of $28,662,469 of unused tax losses has
resulted in the booking of a deferred tax asset of $7,882,179 as
at 30 June 2019 and the NTA numbers above reflect this effect.

All figures are unaudited and approximate.

Please direct enquiries to:

Craig Smith
Company Secretary

T: + 61 3 9921 7116

E: craig.smith@thorney.com.au
W: http://www.thorneytechnologies.com.au/

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