ESTL Enhanced System

TIDMWAS

RNS Number : 3220W

Wasabi Energy Limited

24 December 2013

24 December 2013

Wasabi Energy Limited

("Wasabi," "the Group" or "the Company")

Wasabi Energy Rights Issue Shortfall

Wasabi Energy Limited advises that the non-renounceable rights issue (the "Rights Issue") announced on 27 November 2013 closed on 20 December 2013.

The number of entitlements accepted by shareholders was 242,923,509 representing 6.5% of the ordinary shares of the Company ("Ordinary Shares") on offer. This represents approximately AUD$1,034,000 (at an FX rate of AUD$1:GBPGBP0.55). The shortfall under the offer is 3,475,837,651 Ordinary Shares (AUD$13.8 million)

As set out in the announcement on 23 December 2013, the Directors are reviewing the final amount raised under the Offer with regard to its financial obligations and proposed use of funds as set out in the Offer Document and are currently in discussions with the secured loan note holders regarding repayment, with third parties to place the shortfall of the rights issue and in relation to the Company's Tuzla project. There is no guarantee that such discussions will be successful.

For further information contact

Australian Enquiries

Mr. John Byrne

Wasabi Energy Limited

Ph: +61 (0)3 9663 7132

U.K. Investor Enquiries

Beth McKiernan/ Ivonne Cantu / Neil McDonald

Cenkos Securities plc

Ph: +44 (0)207 397 8900 / +44 (0) 131 220 9778

U.K. Media Enquiries

Mr. Josh Royston / Ms. Hilary Millar

Newgate Threadneedle

Ph: +44 (0) 207 653 9850

This information is provided by RNS

The company news service from the London Stock Exchange

END

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