De Grey Mining : Notification of Consolidation/Split

Notification of Consolidation/Split

Announcement Summary

Entity name

DE GREY MINING LIMITED

Applicable security for the reorganisation

DEG	ORDINARY FULLY PAID
DEGAM	OPTION EXPIRING VARIUOS DATES EX VARIOUS PRICES

Announcement Type

New Announcement

Date of this announcement

Tuesday November 1, 2016

Reorganisation type

Security consolidation

Effective Date

Friday December 2, 2016

Record Date

Monday December 5, 2016

Issue Date

Monday December 12, 2016

Refer to below for full details of the announcement

Announcement Details

Part 1 - Entity and announcement details

1. *Name of +Entity

   DE GREY MINING LIMITED

2. *Registered Number Type

   ABN

   65094206292

   Registration Number

3. *ASX issuer code

   DEG

4. *The announcement is

   New announcement

5. *Date of this announcement

   Tuesday November 1, 2016

6. *Securities affected by the reorganisation

DEG	ORDINARY FULLY PAID
DEGAM	OPTION EXPIRING VARIUOS DATES EX VARIOUS PRICES

Part 2 - Approvals

1. *Are any of the below approvals required for the reorganisation before business day 0 of the timetable?

   Security holder approval Court approval

   Lodgement of court order with +ASIC ACCC approval

   FIRB approval

   Another approval/condition external to the entity required to be given/met before business day 0 of the timetable for the reorganisation.

   Yes

2. Approvals

Approval/Condition +Security holder approval	Date for determination Wednesday November 30, 2016	Is the date estimated or actual? Actual	**Approval received/condition met? [Select...]
Comments

Part 3 - Reorganisation timetable and details

1. *+Record date

   Monday December 5, 2016

2. Date of +security holder meeting

   Wednesday November 30, 2016

3. Last day for trading in the pre-re-organised +securities

   Thursday December 1, 2016

4. *Effective date. Trading in the re-organised securities commences on a +deferred settlement basis. If the +entity's securities are suspended from trading during this period there will be no

   +deferred settlement trading however ASX still captures this date.

   Friday December 2, 2016

5. Record date

   Monday December 5, 2016

6. First day for +entity to send notices to +security holders of the change in the number of

   +securities they hold. First day for +entity to register +securities on a post-reorganised basis

   Tuesday December 6, 2016

7. *+Issue date. +Deferred settlement market ends. Last day for +entity to send notices to

   +security holder of the change in the number of +securities they hold. Last day for +entity to register +securities on a post-reorganised basis

   Monday December 12, 2016

8. Trading starts on a normal T+2 basis

   Tuesday December 13, 2016

9. First settlement of trades conducted on a +deferred settlement basis and on a normal T+2 basis

Thursday December 15, 2016

Part 4 - Reorganisation type and details

4.1 *The reorganisation is

+Security consolidation

1. a *Consolidation ratio: the +securities will be consolidated on the basis that every

   20

   (pre-consolidation) +securities will be consolidated into

   1

   (post-consolidation) +security (/ies).

2. *Scrip fraction rounding

Fractions rounded up to the next whole number

Part 5 - +Securities on issue before and after reorganisation

1. *+Securities on issue before and after the reorganisation

   *ASX +Security Code DEG	*ASX +Security Description ORDINARY FULLY PAID
   Quoted/unquoted Quoted	Number on issue before reorganisation 3,323,315,800	Number on issue after reorganisation 166,165,790	Estimate/Actual Actual
   *ASX +Security Code DEGAM	*ASX +Security Description OPTION EXPIRING VARIUOS DATES EX VARIOUS PRICES
   Quoted/unquoted Unquoted	Number on issue before reorganisation 521,192,212	Number on issue after reorganisation 26,059,611	Estimate/Actual Actual

2. *Exercise price of options

*ASX +Security Code DEGAM	*ASX +Security Description OPTION EXPIRING VARIUOS DATES EX VARIOUS PRICES
Quoted/unquoted Unquoted	Exercise price before reorganisation AUD 0.00000000	Exercise price after reorganisation AUD 0.00000000

Part 6 - Further information

1. Further information relating to the reorganisation

2. Additional information for inclusion in the Announcement Summary