Nexus Energy : Termination of Deed Administration & Board Changes

31 December 2014

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

Further to the Deed Administrators' announcement on 24 December 2014, we provide the following update:

DOCA - Effectuated and deed administration terminated

The deed of company arrangement executed on 22 August 2014 (DOCA) has been effectuated today and the deed administration of Nexus has consequently terminated in accordance with the DOCA terms. Day to day management and control of Nexus has now reverted to its directors.
All of the issued shares in Nexus have been transferred to SGH Energy (No 2) Pty Ltd (Share Transfer) as provided under clause 7.5 of the DOCA.
The share register of Nexus has been updated to reflect the Share Transfer. New holding statements on a post transfer basis will be sent to each former security holder on 5 January 2015.

Board changes

The composition of the Nexus board of directors has changed as follows with immediate effect:

 the resignations of Mr Symon Drake-Brockman and Mr John Hartwell as non-executive directors;

and

 the appointment of Mr Richard Richards as a non-executive director.

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