Completion of Entitlement Offer

ASX Announcement

COMPLETION OF NON RENOUNCEABLE ENTITLEMENT OFFER

Tandou Limited (Tandou) advises that its non renounceable entitlement offer (Offer) announced on 4 May 2011 closed at 5pm on Monday, 30 May 2011 with total funds raised of approximately $23.1 million (before costs), inclusive of amounts to be received under the underwriting arrangements referred to below.

Tandou received valid applications from Eligible Shareholders to subscribe for $13.9 million under the Offer, including valid applications for entitlements of $13.6 million and applications to take up $0.3 million of additional shares under the Top Up Offer.

All Eligible Shareholders who applied for additional shares under the Top Up Offer will receive their full application, subject to a maximum of 50% of their entitlement.

The Underwriter, Wilson HTM Corporate Finance Ltd, has been advised of the shortfall of 22,062,169 shares. The Underwriter has advised that it has arranged for the shortfall to be placed with a number of institutional and sophisticated investors. Allotment of 55,063,081 New Shares under the Entitlement Offer will occur on Monday, 6 June 2011 and dispatch of holding statements for new shares will occur on Tuesday, 7 June 2011. Refunds for rejected applications will be dispatched to shareholders as soon as practicable. New shares are expected to commence trading on ASX on Wednesday, 8 June 2011.

Yours sincerely
 
Mr Bernie Woollard
Company Secretary
Tandou Limited
ABN 81 011 014 562