VERBREC LIMITED — M&A Activity 2009

Jul 7, 2009

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Market Announcement 8 July, 2009

LogiCamms Limited to undertake strategic merger

LogiCamms Limited, (“LogiCamms”) wishes to advise it has signed an agreement to merge with a leading Australian Process Engineering firm, Process Essentials Pty Ltd (“Process Essentials”).

The merger will provide LogiCamms with new strategic capability to be engaged in projects much earlier in their life cycle and it will complement our existing electrical and mechanical capabilities giving us the ability to execute larger higher value projects for our customers and industry partners.

Under the agreement LogiCamms will acquire 100% of Process Essentials holding company, HSE Holdings Pty Ltd. The agreement is subject to the completion of due diligence, the approval of LogiCamms’ shareholders (if required), and a number of other conditions precedent. Due diligence is well advanced and expected to be completed within 4 weeks.

Process Essentials has revenues of approximately $4m annually and its team of 15 staff specialise in the delivery of Process Engineering and EPC solutions to the Chemical, Resources, Energy and Food sectors in Australia and Asia. The firm is based in Brisbane, Queensland.

The majority of the consideration is to be settled by the issue of LogiCamms shares, the number of which will depend on finalisation of Process Essentials 30 June 2009 accounts. It is anticipated the number of shares to be issued will be between 10% to 15% of LogiCamms existing issued capital. The transaction is anticipated to be earnings per share accretive to LogiCamms.

LogiCamms’ Managing Director, Mr Adam Keats commented, “We are confident new market opportunities and value will be derived from the amalgamation of our two businesses. Our markets are aligned, our services are complementary and our combined expertise will greatly improve the value we can create for our clients, staff and shareholders”.

Process Essentials’ Managing Director, Mr Jason Hepburn commented, “We are very excited to be joining LogiCamms and are confident this will enable increased capacity and expertise to deliver outstanding customer solutions. Our companies have worked together successfully over many years, have strong cultural alignment and this merger is a natural evolution for us”.

The company will keep the market updated on the transaction’s progress.

About LogiCamms Limited

LogiCamms is an industry leading national electrical engineering and control systems company servicing the Infrastructure, Energy & Utilities and Resources sectors.

LogiCamms currently provides a wide range of electrical and mechanical engineering services along with specialised design, implementation and support of control systems. This work is highly specialised and involves the understanding and integration of multiple system components to deliver a fit for purpose solution which reliably and efficiently delivers on clients operational needs. LogiCamms works both directly with its customers and with various engineering consultants, constructors and original equipment manufacturers.

LogiCamms Limited has 7 offices throughout Australia, located in Perth, Brisbane, Adelaide, Darwin, Gladstone, Mackay and Whyalla.

For further information: Adam Keats Managing Director LogiCamms Limited Ph: 0418818073