Platinum Australia Limited : Financial Reporting Relief

ASX ANNOUNCEMENT

Platinum Australia Limited (Subject to Deed of Company Arrangement) ACN 093 417 942 ("the Company" or "PLA") 25 October 2013

ASX code: PLA

Financial reporting relief

The Deed Administrator wishes to advise shareholders that the Australian Securities and Investments Commission (ASIC) has made conditional orders relieving the Company from compliance with its financial reporting requirements under Part 2M.3
of the Corporations Act 2001 (Cth) (Act), including relief from preparing and lodging audited financial reports for the financial year ended 30 June 2013 until the earlier of:

• 30 March 2014; or

• the date of termination of the deed of company arrangement between the Company and the Deed Administrator.

The relief comes as a result of delays to the implementation of the scheme of arrangement (Scheme) with Jubilee Platinum plc (Jubilee), caused primarily by changes to the proposed funding arrangements of the merged entity going forward. Further details are set out in the Company's announcement to ASX on 30 July 2013
The Deed Administrator sought the relief on the basis that:

• the costs and time involved with compliance with the financial reporting requirements would be unreasonably burdensome, given the Company is currently under administration and has limited resources; and

• compliance with the financial reporting requirements would be inappropriate in the circumstances, where the Company is currently the subject of the Scheme.

PLA and Jubilee are continuing discussions to continue to move forward with the Scheme.
A copy of the ASIC order made under section 340 of the Act is attached to this announcement.
If you have any questions please contact Pitcher Partners on [phone] on business days between 9.00am to 5.00pm
AWST.
BRYAN HUGHES

Deed Administrator

Melbourne	Sydney	Perth	Adelaide	Brisbane	Newcastle
John Brazzale	Carl Millington	Bryan Hughes	Tom Verco	Nigel Fischer	Greg Farrow
Managing Partner	Managing Partner	Managing Partner	Principal	Managing Partner	Managing Partner
[phone]	[phone]	[phone]	[phone]	[phone]	[phone]

[e-mail] [e-mail] [e-mail] [e-mail] [e-mail] [e-mail]
www.pitcher.com.au

Pitcher Partners is an association of independent firms. Liability limited by a scheme approved under Professional Standards Legislation.

13-1335

Australian Securities and Investments Commission

Corporations Act 2001- Subsections 340(1) and 741(1)- Order

Enabling legislation

l. The Australian Securities and Investments Commission (ASIC) makes this instrument under subsections 340(1) and 741(1) ofthe Corporations Act 2001 (theAct).

Title

2. This instrument is ASIC Instrument 13-1335. Commencement

3. This instrument commences on 24 October 2013. Order

4. ASIC relieves Platinum Australia Limited (Subject to Deed of Company Arrangement) ACN 093 417 942 (the company) from Part 2M.3 of the Act for the financial year ending 30 June 2013 until the earlier of:

(a) 30 March 2014 (the extended deadline); or

(b) the date of termination of the deed of company arrangement

(the extended deadline).

5. To avoid doubt, ifthe requirements ofthat Part have not been complied with by the extended deadline (as applicable), this order has no application from the day after the extended deadline to any continuing obligation under that Part.

6. ASIC modifies section 713 ofthe Act by inserting a new subsection 7 as follows: "(7) A body may not rely on this section if:

(a) the body is relying on an order made under section 340 that relieves the body from compliance with Part 2M.3; or

(b) a period of 12 months has not elapsed after the end of the company's financial year that first occurs after the company ceased relying on such an order."

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13-1335 Conditions

7. The company must, as soon as possible, and in any event by 5:00pm WST on 28

October 2013, provide a written notice to ASX Limited ACN 008 624 691 (ASX) for release on the Market Announcements Platform of the financial market operated by ASX, which includes a statement describing the need for, and effect of, the relief provided by this order as it applies to the company.

8. The company must maintain arrangements for answering, free of charge, reasonable enquiries from its members about the consequences of the extemal administration of the company.

Dated this 24 October 2013

Signed by Tashreen Tourabaly

as a delegate of the Australian Securities and Investments Commission

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