TIVAN LIMITED — Capital/Financing Update 2016

Dec 18, 2016

19 December 2016

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SPP INCREASED TO $7M FOLLOWING OUTSTANDING RESPONSE: CLOSING DATE EXTENDED TO FRIDAY, 23 DECEMBER 2016

TNG Limited (ASX: TNG) is pleased to advise that, in light of the exceptionally strong response to its Share Purchase Plan ( SPP ) from eligible shareholders, the Board has resolved to increase the SPP cap from $4 million to $7 million (before costs).

In conjunction with this, TNG advises that the closing date for the SPP has been extended from Monday, 19 December 2016 to Friday, 23 December 2016 , in order to provide additional time for eligible shareholders to participate. All other SPP terms and conditions (as set out in the SPP Offer Booklet released to the ASX on 1 December 2016) remain unchanged.

As detailed in that announcement, eligible shareholders who subscribe for shares under the SPP are also being offered one free attaching option for every two shares subscribed for ( Option Offer ), pursuant to a Prospectus dated 30 November 2016. Later today, TNG intends to lodge with ASIC and release to ASX a Supplementary Prospectus in relation to the Option Offer which will contain updated information regarding the terms of the SPP and Option Offer (and its effect on TNG) to reflect the increased cap and extension described above.

TNG encourages all eligible shareholders to read the Supplementary Prospectus in full (in conjunction with the original Prospectus dated 30 November 2016).

The application form enclosed with the original SPP Offer Booklet remains valid, notwithstanding that it refers to the old closing date of the SPP. Shareholders who have already applied for TNG shares under the SPP are not required to re-submit their application forms unless they wish to apply for additional TNG shares up to the maximum amount of $14,999.99.

Eligible shareholders who would like to apply but have misplaced their application forms should contact the Company Secretary any time between 9.00am and 5.00pm (AWST) Monday to Friday on +61 8 9327 0900. The revised timetable for the remainder of the SPP offer period is set out below:

Date (and time if relevant)	Event
5pm AWST Friday, 23 December 2016	Closing Date Application Forms together with payment by cheque or money order must be received by this time and date. NOTE:BPAY payments must be received by 4pm AWST, Friday, 23 December 2016 (which is when the BPAYsystemcloses onthe ClosingDate).
Friday, 30 December 2016	Issue Date The date on which the New Shares and Options are expected to be issued and any scale back of the New Shares and Optionsis announced.
Tuesday, 3 January 2017	Trading Date The date on whichtheNewShares and Options are expected to begintrading.
Tuesday, 3 January 2017	Despatch Date Transactionconfirmations /holding statementswillbe sent to shareholders onoraround this date.

Enquiries:

Simon Robertson Company Secretary + 61 (0) 8 9327 0900

REGISTERED OFFICE T +61 8 9327 0900 W www.tngltd.com.au Level 1, 282 Rokeby Road F +61 8 9327 0901 E corporate@tngltd.com.au Subiaco, Western Australia 6008

ASX CODE: TNG ABN 12 000 817 023 Shares on issue: 621.8M