AJ Lucas Group Limited has agreed with Kerogen Investments No. 1 (HK) Limited to vary the repayment dates and structure of the various loan facilities (Facilities) provided by Kerogen to Lucas. The Company also announced that it had applied to the Australian Securities Exchange (ASX) for a waiver from Listing Rule 10.1 to enable implementation of the restructure without shareholder approval.

The Company intends to repay or refinance the Facilities on or before their respective maturity dates. The Company intends that the security provided to Kerogen will be discharged in due course upon the repayment or refinance of the amounts owing by the Company to Kerogen. The timeframe for repayment of the mezzanine facility dated 21 December 2011 (as restructured into a US dollar loan) is 14 months from the date of restructure and for the additional facilities is currently 31 March 2013.