Cancellation of General Meeting

The Board of Kingsgate Consolidated Limited ABN 42 000 837 472 (“Company”) has resolved to cancel the general meeting scheduled to be held on 9 May 2014 (“General Meeting”), in accordance with rule 9.7 of the constitution of the Company.
The General Meeting was called for shareholders to consider and approve the following 3 resolutions:

• Resolution 1 – to approve and ratify under ASX Listing Rule 7.4 a prior issue of 11,774,572 ordinary shares to Investec Bank (Australia) Limited on 19 December 2013;
• Resolution 2 – to approve and ratify under ASX Listing Rule 7.4 a prior issue of 14,661,220 ordinary shares to domestic and international institutional investors on 28 March 2014; and
• Resolution 3 – to approve, if necessary, the issue up to 11,100,000 ordinary shares to RCA VI GP Ltd (an entity which forms part of the Resource Capital Funds (“RCF”) group) in the event that RCF’s commitment to subscribe for ordinary shares in the Company was not fulfilled by RCF partially sub-underwriting the recent Retail Entitlement Offer.

The Board has determined that:

• due to the success of the recent capital raising, the Company does not need to refresh its placement capacity at this point in time, and accordingly it is not necessary to put Resolution 1 and Resolution 2 to shareholders; and
• as RCF’s commitment was fulfilled under its sub-underwriting of the Retail Entitlement Offer, it is not necessary to put Resolution 3 to shareholders.

Accordingly, the Board has determined that in order to avoid costs and disruption associated with holding the General Meeting, it is in the best interest of the Company and shareholders to cancel the General Meeting.