Nexus Energy : McGrathNicol Announcement Order under sec 444GA

24 December 2014

ASX ANNOUNCEMENT Nexus Energy Limited (Subject to Deed of Company Arrangement) (ASX: NXS) (Nexus)

Further to the Deed Administrators' announcement on 22 December 2014, we provide the following update:

DOCA - Conditions precedent satisfied

The Supreme Court of New South Wales (Court) has today made an order pursuant to section 444GA of the Corporations Act 2001 (Cth) in a form which satisfies the condition precedent under the deed of company arrangement executed on 22 August 2014 (DOCA). The Court order permits the Deed Administrators to effect the transfer of all of the issued shares in Nexus to SGH Energy (No 2) Pty Ltd (SGH Energy) as provided under clause 7.5 of the DOCA.
As foreshadowed in the Deed Administrators' announcement on 25 November 2014, the Australian
Securities and Investment Commission (ASIC) granted in-principle, conditional relief under section
655A(1)(a) of the Act from the operation of section 606 of the Act. In response to the Court order, ASIC
has now provided its formal instrument of relief which satisfies the condition precedent under the DOCA.
All conditions precedent to the DOCA have now been satisfied meaning that the Deed Administrators will take the necessary steps to promptly effectuate the DOCA. Nexus will remain listed until the DOCA is effectuated. As a result of the transfer of all of the issued shares in Nexus to SGH Energy, Nexus intends to apply, shortly after implementation of the DOCA, to be removed from the official list of the Australian Securities Exchange (which is expected to be in early January 2015).

Media inquiries to Nicholas Owens, Director, Sefiani Communications Group, ph. [phone], mobile [phone], email [e-mail].