TREK METALS LIMITED — Capital/Financing Update 2012

Nov 22, 2012

CANON'S COURT
22 VICTORIA STREET HAMILTON HM12

ZAMBEZI RESOURCES LIMITED ARBN: 124 462 826

PLOT 5697 BEU CRESCENT KALUNDU LUSAKA TEL: +260 211 292101

EMAIL: INFO@ZAMBEZIRESOURCES.COM WWW.ZAMBEZIRESOURCES.COM

WEST PERTH, WESTERN AUSTRALIA Australia 6005
Tel +61 8 6555 1879 FAX: +61 8 9398 4104

LEVEL 1, 17 ORD STREET

PO Box 1796, WEST PERTH WESTERH AUSTRALIA, 6872

ASX Announcement Friday, 23 November 2012

Amended Appendix 3B

Zambezi Resources Limited (ASX: ZRL) (Zambezi or the Company) lodged an Appendix 3B with the ASX on 22 November 2012 in respect of issuing 50,000,000 fully paid ordinary shares with Bergen Global Opportunity Fund, LP.

Due to an oversight, Item 8 of the Appendix 3B lodged, referring to the number and class of all securities quoted on ASX was not completed correctly and should read 2,046,392,216.

This amended Appendix 3B now contains the correct information.

Zambezi Resources Limited

Simon Durack

Director Tel: +61 8 6555 1879

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New issue announcement, application for quotation of additional securities and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 01/07/96 Origin: Appendix 5 Amended 01/07/98, 01/09/99, 01/07/00, 30/09/01, 11/03/02, 01/01/03, 24/10/05, 01/08/12

Name of entity

Zambezi Resources Limited

ARBN

124 462 826

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

$\mathbf{1}$ ⁺Class of ⁺securities issued or to be issued

Ordinary fully paid shares (Ordinary Shares)

• $\overline{2}$ Number of ⁺securities issued or to be issued (if known) or maximum number which may be issued
• Principal terms of the ⁺securities 3 (eg, if options, exercise price and expiry date; if partly paid ⁺securities, the amount outstanding and due dates for payment; if ⁺convertible securities, the conversion price and dates for conversion)

50,000,000 Ordinary Shares

Ordinary Shares will rank pari passu with existing Ordinary Shares.

⁺ See chapter 19 for defined terms.

4	Do the + securities rank equally in all respects from the date of allotment with an existing + class of quoted +securities?	The Ordinary Shares rank pari passu with existing Ordinary Shares.
	If the additional securities do not rank equally, please state: the date from which they do $\bullet$ the extent to which they $\bullet$ participate the for next dividend, (in the case of a trust, distribution) or interest payment the extent to which they do not ٠ rank equally, other than in relation to the next dividend, distribution or interest payment
5	Issue price or consideration	50,000,000 Ordinary Shares $-$ AU0.002 per Ordinary Share.
6	Purpose of the issue (If issued as consideration for the acquisition clearly of assets, identify those assets)	The Ordinary Shares were issued for working capital purposes.
6a	Is the entity an $\pm$ eligible entity that obtained has security holder approval under rule 7.1A?	N o
	If Yes, complete sections $6b - 6h$ in relation to the $+$ securities the subject of this Appendix 3B, and comply with section 6i
6b	date the security holder The. resolution under rule 7.1A was passed	N/A
6c	of $+$ securities issued Number without security holder approval under rule 7.1	N/A
6d	Number of + securities issued with security holder approval under rule 7.1A	N/A

$+$ See chapter 19 for defined terms.

• Number of ⁺securities issued 6e security holder approval under 7.3, or another specific secu holder approval (specify date meeting)
• 6f Number of securities issued under an exception in rule 7.2
• 6g If securities issued under rule 7.1A, was issue price at least 75% of 15 day VWAP as calculated
  under rule 7.1A.3? Include the issue date and both values. Include source of the VWAP the calculation.
• 6h If securities were issued under rule 7.1A for non-cash consideration, state date on which valuation of consideration was released to ASX Market Announcements
• Calculate the entity's remaining $6i$ issue capacity under rule 7.1 and rule 7.1A - complete Annexure 1 and release to ASX Market Announcements
• $\overline{7}$ Dates of entering ⁺securities into uncertificated holdings or despatch of certificates
• Number and ⁺class of all $\bf 8$ ⁺securities quoted on ASX (including the securities in section 2 if applicable)

Number	+ Class
2,046,392,216	Ordinary shares

	with $N/A$ rule
urity
e of

$N/A$

$N/A$

$N/A$

$N/A$

22 November 2012

$\overline{9}$ Number and ⁺class of all *securities not quoted on ASX (including the securities in section 2 if applicable)

Number	+ Class
99,500,000	A\$0.01 options exp. 30/11/12
5,000,000	A\$0.02 options exp. 05/05/13
30,000,000	A\$0.02 options exp. 31/05/13
10,000,000	A\$0.025 options exp. 30/09/13
10,000,000	A\$0.03 options exp. 30/09/13
2,500,000	A\$0.04 options exp. 01/06/13
2,000,000	A\$0.03 options exp. 11/01/13
2,000,000	A\$0.04 options exp. 11/01/14
2,000,000	A\$0.05 options exp. 11/01/14
2,500,000	A\$0.01 options exp. 30/06/14
30,000,000	A\$0,0044 options exp. 17/10/15

$10\,$ Dividend policy (in the case of a $N/A$ trust, distribution policy) on the increased capital (interests)

Part 2 - Bonus issue or pro rata issue

11	holder security approval Is. required?	N/A
12	Is the issue renounceable or non- renounceable?	N/A
13	Ratio in which the + securities will be offered	N/A
14	+ Class of + securities to which the offer relates	N/A
15	+ Record determine date to entitlements	N/A
16	Will holdings on different registers (or subregisters) be aggregated for calculating entitlements?	N/A
17	Policy for deciding entitlements in relation to fractions	N/A
18	Names of countries in which the entity has + security holders who will not be sent issue new documents	N/A
	Note: Security holders must be told how their entitlements are to be dealt with.
	Cross reference: rule 7.7.

⁺ See chapter 19 for defined terms.

• 19 Closing date for receipt acceptances or renunciations
• 20 Names of any underwriters
• 21 Amount of any underwriting fee or commission
• 22 Names of any brokers to the issue
• 23 Fee or commission payable to the $\vert$ broker to the issue
• 24 Amount of any handling fee payable to brokers who lodge acceptances or renunciations on behalf of +security holders
• 25 If the issue is contingent on *security holders' approval, the date of the meeting
• 26 Date entitlement and acceptance form and prospectus or Product Disclosure Statement will be sent to persons entitled
• 27 If the entity has issued options, and the terms entitle option holders to participate on exercise, the date on which notices will be sent to option holders
• Date rights trading will begin (if $N/A$ 28 applicable)
• 29 Date rights trading will end (if $N/A$ ) applicable)
• 30 How do ⁺security holders sell their entitlements in full through a broker?
• 31 How do ⁺security holders sell part of their entitlements through a broker and accept for the balance?
• How do $\pm$ security holders dispose of $N/A$ 32

of $N/A$

$N/A$

$N/A$

$N/A$

$N/A$

$N/A$

$N/A$

$N/A$

$N/A$

$N/A$

$N/A$

⁺ See chapter 19 for defined terms.

		their entitlements (except by sale through a broker)?
33		+ Despatch date	N/A
		Part 3 - Quotation of securities You need only complete this section if you are applying for quotation of securities
34	(tick one)	Type of securities
(a)		Securities described in Part 1
(b)		All other securities	Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

Tick to indicate you are providing the information or documents

• If the 'securities are 'equity securities, the names of the 20 largest holders of the 35 additional +securities, and the number and percentage of additional +securities held by those holders
• If the ⁺securities are ⁺equity securities, a distribution schedule of the additional 36 *securities setting out the number of holders in the categories $1 - 1,000$ $1,001 - 5,000$ $5,001 - 10,000$ $10,001 - 100,000$ 100,001 and over

A copy of any trust deed for the additional +securities 37

Entities that have ticked box 34(b)

38 Number of securities for which ⁺quotation is sought

$N/A$

⁺ See chapter 19 for defined terms.

Class of $\pm$ securities for which 39 quotation is sought

$N/A$

40 Do the ⁺securities rank equally in all respects from the date of allotment with an existing ⁺class of quoted +securities?

If the additional securities do not rank equally, please state:

• the date from which they do
• the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment
• the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment
• 41 Reason for request for quotation now

Example: In the case of restricted securities, end of restriction period

(if issued upon conversion of another security, clearly identify that other security)

N/A

42 Number and ⁺class of all ⁺securities quoted on ASX (including the securities in clause 38)

Number	+ Class
N/A

Quotation agreement

• T. *Quotation of our additional *securities is in ASX's absolute discretion. ASX may quote the ⁺securities on any conditions it decides.
• $\overline{2}$ We warrant the following to ASX.
• The issue of the 'securities to be quoted complies with the law and is not for an illegal purpose.
• There is no reason why those *securities should not be granted *quotation.

⁺ See chapter 19 for defined terms.

An offer of the ⁺securities for sale within 12 months after their issue will $\bullet$ not require disclosure under section 707(3) or section 1012C(6) of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

• Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any *securities to be quoted and that no-one has any right to return any *securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the 'securities be quoted.
• If we are a trust, we warrant that no person has the right to return the $\bullet$ *securities to be quoted under section 1019B of the Corporations Act at the time that we request that the 'securities be quoted.
• $\mathfrak{Z}$ We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.
• $\overline{4}$ We give ASX the information and documents required by this form. If any information or document not available now, will give it to ASX before +quotation of the ⁺securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

ee es es es es

(Director)

Date: 23 November 2012

Sign here:

Print name:

Simon Durack

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New issue announcement,

application for quotation of additional securities

and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002, 1/1/2003, 24/10/2005.

Name of entity

Zambezi Resources Ltd (Company)

ARBN

124 462 826

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

$!1$ ⁺Class of ⁺securities issued or to be issued

Ordinary fully paid shares (Ordinary Shares)

$\overline{2}$ Number of ⁺securities issued or to be issued (if known) or maximum number which may be issued

50,000,000 Ordinary Shares

• Principal terms of the ⁺securities $\overline{3}$ (eg, if options, exercise price and date; if partly paid expiry *securities, the amount outstanding and due dates for payment; if *convertible securities. the conversion price and dates for conversion)
• $\overline{4}$ Do the ⁺securities rank equally in all respects from the date of allotment with an existing ⁺class of quoted +securities?
• If the additional securities do not rank equally, please state:
• the date from which they do
• the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment
• the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

Issue price or consideration 5

\$0.002 per ordinary share

Purpose of the issue $\boldsymbol{6}$ (If issued as consideration for the acquisition of assets, clearly identify those assets)

6a Is the entity an ⁺eligible entity that has obtained security holder approval under rule 7.1A?

If Yes, complete sections $6b - 6h$ in relation to the $+$ securities the subject of this Appendix 3B, and comply with section 6i

• The date the security holder 6_b resolution under rule 7.1A was passed
• 6c Number of ⁺securities issued without security holder approval under rule 7.1

Ordinary Shares will rank pari passu with existing Ordinary Shares.

The Ordinary Shares rank pari passu with existing Ordinary Shares.

The purpose of the issue of Shares is to raise capital for general corporate and working capital purposes.

No

$N/A$

$N/A$

• 6d Number of ⁺securities issued with security holder approval under rule $7.1A$
• 6e Number of ⁺securities issued with security holder approval under rule 7.3, or another specific security holder approval (specify date of meeting)
• 6f Number of securities issued under an exception in rule 7.2
• If securities issued under rule 6g 7.1A, was issue price at least 75% of 15 day VWAP as calculated under rule 7.1A.3? Include the issue date and both values. Include the source of the VWAP calculation.
• If securities were issued under rule 6h 7.1A for non-cash consideration, state date on which valuation of consideration was released to ASX Market Announcements
• Calculate the entity's remaining 6i issue capacity under rule 7.1 and rule 7.1A - complete Annexure 1 and release to ASX Market Announcements
• $7\phantom{.0}$ Dates of entering ⁺securities into uncertificated holdings or despatch of certificates

$\bf 8$ Number and ⁺class of all on ASX *securities quoted (including the securities in clause 2 if applicable)

Number: 50,000,000	+ Class: Ord
2,046,392,216	Ordinary Shares
Number	+ Class

$N/A$

$N/A$

$N/A$

$N/A$

$N/A$

22 November 2012

$N/A$

$\overline{9}$ Number and $\mathsf{t}$ class of all *securities not quoted on ASX (including the securities in clause 30
2 if applicable) 10

99,500,000	A\$0.01 options exp. 30/11/12
5,000,000	A\$0.02 options exp. 05/05/13
30,000,000	A\$0.02 options exp. 31/05/13
10,000,000	A\$0.025 options exp. 30/09/13
10,000,000	A\$0.03 options exp. 30/09/13
2,500,000	A\$0.04 options exp. 01/06/13
2,000,000	A\$0.03 options exp. 11/01/13
2,000,000	A\$0.04 options exp. 11/01/14
2,000,000	A\$0.05 options exp. 11/01/14
2,500,000	A\$0.01 options exp. 30/06/14
30,000,000	A\$0.0044 options exp. 17/10/15

Dividend policy (in the case of a
trust, distribution policy) on the $10\,$ increased capital (interests)

Not applicable

Part 2 - Bonus issue or pro rata issue

11	holder security approval Is required?	Not applicable
12	Is the issue renounceable or non- renounceable?	Not applicable
13	Ratio in which the + securities will be offered	Not applicable
14	+ Class of + securities to which the offer relates	Not applicable
15	determine + Record date to entitlements	Not applicable
16	Will holdings on different registers (or subregisters) be aggregated for calculating entitlements?	Not applicable
17	Policy for deciding entitlements in relation to fractions	Not applicable

18	Names of countries in which the entity has *security holders who will not issue be sent new documents Note: Security holders must be told how their	Not applicable
	entitlements are to be dealt with. Cross reference: rule 7.7.
19	of Closing date for receipt acceptances or renunciations	Not applicable
20	Names of any underwriters	Not applicable
21	Amount of any underwriting fee or commission	Not applicable
22	Names of any brokers to the issue	Not applicable
23	Fee or commission payable to the broker to the issue	Not applicable
24	handling fee of Amount any
	brokers who lodge payable to acceptances or renunciations on behalf of + security holders	Not applicable
25	If the issue is contingent on *security holders' approval, the date of the meeting	Not applicable
26	Date entitlement and acceptance form and prospectus or Product Disclosure Statement will be sent to persons entitled	Not applicable
27	If the entity has issued options, and the terms entitle option holders to participate on exercise, the date on which notices will be sent to option holders	Not applicable
28	Date rights trading will begin (if applicable)	Not applicable
29	Date rights trading will end (if
	applicable)	Not applicable

30	How do *security holders sell their $\vert$ Not a
	entitlements in full through broker?		a

31 How do 'security holders sell part of their entitlements through a broker and accept for the balance?

applicable

Not applicable

32 How do ⁺security holders dispose of their entitlements (except by sale through a broker)?

Not applicable

Not applicable

Part 3 - Quotation of securities

*Despatch date

33

You need only complete this section if you are applying for quotation of securities

34	(tick one)	Type of securities
(a)		Securities described in Part 1
(b)		All other securities Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

Tick to indicate you are providing the information or documents

35

If the *securities are *equity securities, the names of the 20 largest holders of the additional 'securities, and the number and percentage of additional 'securities held by those holders

36	If the 'securities are 'equity securities, a distribution schedule of the additional
	*securities setting out the number of holders in the categories
	$1 - 1.000$
	$1,001 - 5,000$
	$5.001 - 10.000$
	$10,001 - 100,000$
	100,001 and over

A copy of any trust deed for the additional 'securities

Entities that have ticked box 34(b)

38	Number of securities for which 'quotation is sought	Not applicable
39	for which Class of + securities quotation is sought	Not applicable
40	Do the "securities rank equally in all respects from the date of allotment with an existing + class of quoted *securities?	Not applicable
	If the additional securities do not rank equally, please state: the date from which they do to which they the extent ۰ participate for the next dividend, case of the a trust. (in distribution) or interest payment the extent to which they do not ۰ rank equally, other than in relation to the next dividend, distribution or interest payment
41	Reason for request for quotation now Example: In the case of restricted securities, end of restriction period	Not applicable
	conversion (if issued upon of another security, clearly identify that other security)

Number and ⁺class of all ⁺securities
quoted on ASX (including the 42 securities in clause 38)

Number	+ Class
Not applicable

Quotation agreement

• 1 +Quotation of our additional *securities is in ASX's absolute discretion. ASX may quote the *securities on any conditions it decides.
• $\overline{2}$ We warrant the following to ASX.
• $\bullet$ The issue of the ⁺securities to be quoted complies with the law and is not for an illegal purpose.
• There is no reason why those *securities should not be granted *quotation. $\bullet$
• An offer of the ⁺securities for sale within 12 months after their issue will not require disclosure under section $707(3)$ or section $1012C(6)$ of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

• Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any ⁺securities to be quoted and that noone has any right to return any ⁺securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the +securities be quoted.
• If we are a trust, we warrant that no person has the right to return the +securities to $\bullet$ be quoted under section 1019B of the Corporations Act at the time that we request that the ⁺securities be quoted.
• $\overline{3}$ We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.
• We give ASX the information and documents required by this form. If any information or $\overline{4}$ document not available now, will give it to ASX before ⁺quotation of the ⁺securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

$\overline{\phantom{a}}$ $......$

Date: 23.11.2012

Sign here:

(Director/Company secretary)

Print name: SIMON DURACK

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Appendix 3B - Annexure 1

Calculation of placement capacity under rule 7.1 and rule 7.1A for ⁺eligible entities Introduced $01/08/12$

Rule 7.1 - Issues exceeding 15% of capital
Step 1: Calculate "A", the base figure from which the placement capacity is calculated
Insert number of fully paid ordinary securities on issue 12 months before date of issue or agreement to issue
Add the following:
Number of fully paid ordinary securities issued in that 12 month period under an exception in rule 7.2
Number of fully paid ordinary securities $\bullet$ issued in that 12 month period with shareholder approval
Number of partly paid ordinary securities that ۰ became fully paid in that 12 month period
Note:
Include only ordinary securities here - other classes of equity securities cannot be added
Include here (if applicable) the securities the $\bullet$ subject of the Appendix 3B to which this form is annexed
It may be useful to set out issues of $\bullet$ securities on different dates as separate line items
Subtract the number of fully paid ordinary securities cancelled during that 12 month period
"А"

Step 2: Calculate 15% of "A"
"B"	0.15
	[Note: this value cannot be changed]
Multiply "A" by 0.15
Step 3: Calculate "C", the amount of placement capacity under rule 7.1 that has already been used
Insert number of equity securities issued or agreed to be issued in that 12 month period not counting those issued:
Under an exception in rule 7.2 ٠
Under rule 7.1A ٠
With security holder approval under rule 7.1 or ٠ rule 7.4
Note:
This applies to equity securities, unless ٠ specifically excluded - not just ordinary securities
Include here (if applicable) the securities the ٠ subject of the Appendix 3B to which this form is annexed
It may be useful to set out issues of securities on different dates as separate line items
"C"
Step 4: Subtract "C" from ["A" x "B"] to calculate remaining placement capacity under rule 7.1
"A" x 0.15
Note: number must be same as shown in Step 2
Subtract "C"
Note: number must be same as shown in Step 3
Total ["A" $\times$ 0.15] - "C"
	[Note: this is the remaining placement capacity under

$rule 7.11$

Rule 7.1A - Additional placement capacity for eligible entities
Step 1: Calculate "A", the base figure from which the placement capacity is calculated
"А"
Note: number must be same as shown in Step 1 of Part 1
Step 2: Calculate 10% of "A"
"ם	0.10
	Note: this value cannot be changed
Multiply "A" by 0.10
Step 3: Calculate "E", the amount of placement capacity under rule 7.1A that has already been used
Insert number of equity securities issued or agreed to be issued in that 12 month period under rule 7.1A
Notes:
This applies to equity securities - not just ordinary securities
Include here $-$ if applicable $-$ the securities the $\bullet$ subject of the Appendix 3B to which this form is annexed
Do not include equity securities issued under rule ۰ 7.1 (they must be dealt with in Part 1), or for which specific security holder approval has been obtained
It may be useful to set out issues of securities on ٠ different dates as separate line items
"E"

Appendix 3B - Annexure 1

Calculation of placement capacity under rule 7.1 and rule 7.1A for *eligible entities

Introduced 01/08/12

Rule 7.1 – Issues exceeding 15% of capital Step 1: Calculate "A", the base figure from which the placement capacity is calculated
Add the following:
Number of fully paid ordinary securities issued in that 12 month period under an exception in rule 7.2
Number of fully paid ordinary securities ۰ issued in that 12 month period with shareholder approval
Number of partly paid ordinary securities $\bullet$ that became fully paid in that 12 month period
Note: Include only ordinary securities here - other classes of equity securities cannot be added Include here (if applicable) the securities $\bullet$ the subject of the Appendix 3B to which this form is annexed It may be useful to set out issues of securities on different dates as separate line items
Subtract the number of fully paid ordinary securities cancelled during that 12 month period
"А"

⁺ See chapter 19 for defined terms.

Step 2: Calculate 15% of "A"
"B"	0.15
	[Note: this value cannot be changed]
Multiply "A" by 0.15
Step 3: Calculate "C", the amount of placement capacity under rule 7.1 that has already been used
Insert number of equity securities issued or agreed to be issued in that 12 month period not counting those issued:
Under an exception in rule 7.2
Under rule 7.1A
With security holder approval under rule 7.1 or rule 7.4
Note: This applies to equity securities, unless $\bullet$ specifically excluded - not just ordinary securities Include here (if applicable) the securities the subject of the Appendix 3B to which this form is annexed It may be useful to set out issues of securities on different dates as separate line items
"C"
Step 4: Subtract "C" from ["A" x "B"] to calculate remaining placement capacity under rule 7.1
"A" x 0.15
Note: number must be same as shown in Step 2
Subtract "C"
Note: number must be same as shown in Step 3
Total ["A" $\times$ 0.15] - "C"
	[Note: this is the remaining placement capacity under rule 7.1]

⁺ See chapter 19 for defined terms.

Rule 7.1A – Additional placement capacity for eligible entities
Step 1: Calculate "A", the base figure from which the placement capacity is calculated
"A"
Note: number must be same as shown in Step 1 of Part 1
Step 2: Calculate 10% of "A"
"D"	0.10
	Note: this value cannot be changed
Multiply "A" by 0.10
Step 3: Calculate "E", the amount of placement capacity under rule 7.1A that has already been used
Insert number of equity securities issued or agreed to be issued in that 12 month period under rule 7.1A
Notes: This applies to equity securities - not just ordinary securities Include here $-$ if applicable $-$ the $\bullet$ securities the subject of the Appendix 3B to which this form is annexed Do not include equity securities issued $\bullet$ under rule 7.1 (they must be dealt with in Part 1), or for which specific security holder approval has been obtained It may be useful to set out issues of ٠ securities on different dates as separate line items
"E"

⁺ See chapter 19 for defined terms.

Step 4: Subtract "E" from ["A" x "D"] to calculate remaining placement capacity under rule 7.1A
$A'' \times 0.10$
Note: number must be same as shown in Step 2
Subtract "E"
Note: number must be same as shown in Step 3
Total ["A" $\times$ 0.10] - "E"
	Note: this is the remaining placement capacity under rule 7.1A

⁺ See chapter 19 for defined terms.