VOLT GROUP LIMITED — Capital/Financing Update 2016

Sep 15, 2016

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16 September 2016

ASX Limited

Company Announcements Office

NOTICE UNDER SECTION 708A(5)(e) OF THE CORPORATIONS ACT 2001

This notice is given by Enerji Ltd ( Company ) under Section 708A(5)(e) of the Corporations Act 2001 ( Corporations Act ).

The Company hereby confirms that:

• a) It issued 4,950,181 fully paid ordinary shares (Shares) on 12 September 2016 at a price of A$0.00792 per share in accordance with a subscription notice issued by Magna Equities II (Magna), pursuant to the Loan Agreement and Subscription Agreement entered into with Magna as announced on 29 March 2016;

• b) The Shares were issued without disclosure to investors under Part 6D.2 of the Corporations Act;

• c) The Company is providing this notice under paragraph 5(e) of section 708A of the Corporations Act;

• d) As at the date of this notice the Company, as a disclosing entity under the Corporations Act has complied with:

• (i) The provisions of Chapter 2M of the Corporations Act as they apply to the Company; and

• (ii) Section 674 of the Corporations Act as it applied to the Company;

• e) As at the date of this announcement, other than as disclosed below by way of update, there is no excluded information of the type referred to in Sections 708A(7) and 708A(8) of the Corporations Act:

  • the Company is working towards satisfaction of the conditions precedent to the transaction with ECM Pty Ltd (“ECM”), which includes the resolving of any liabilities to Opcon AB (and associates) to the satisfaction of ECM. The liabilities to Opcon AB reside in Enerji Holdings Pty Ltd, a 100% owned subsidiary of Enerji Ltd. The Board of Enerji Ltd, and Enerji Holdings Pty Ltd are considering all options available in order to resolve the outstanding liabilities. In the absence of being able to settle the liabilities directly with Opcon AB, this is likely to involve placing Enerji Holdings Pty Ltd into Administration to work through a Deed of Company Arrangement with its creditors. This is not expected to have any material adverse effect on the current operations or strategy of the Company, other than resolving the outstanding liabilities to the satisfaction of ECM.

For and on behalf of the directors of Enerji Ltd

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Peter Torre Company Secretary Enerji Ltd