Offeror(s): New Dawn Energy Limited

Independent Adviser(s): KordaMentha (Rule 21), Northington Partners (Rule 22)

Offer Date: 21/11/2012

Closing Date: 31/01/2013

Offer Type: Full

Exemption: L&M Energy Limited - Exemption Notice 2012

Compulsory Acquisition

Summary of transaction:

On 21 November 2012, New Dawn Energy Limited (“New Dawn”) made a full takeover offer for all the shares and options in L&M Energy Limited (“LME”).

The offer price was AUD$0.06 in cash per share and between AUD$0.0004 – AUD$0.0599 in cash per option, depending on the date and terms of issue of each option.

The offer was conditional on, among other things, New Dawn receiving a minimum of 90% acceptances.

On 15 January 2013, New Dawn had received acceptances for 90.2516% of the ordinary shares of LME. New Dawn sent its compulsory acquisition documents on 24 January 2013 to acquire all the remaining shares from the outstanding shareholders.

LME was delisted on 5 February 2013.