INNOPAC HOLDINGS LIMITED (formerly Inno-Pacific Holdings Ltd) (Incorporated in Singapore)

(Company Registration No. 197301788K)

UPDATE ON THE PROPOSED TAKEOVER BID FOR UP TO 212,147,063 ORDINARY FULLY PAID SHARES REPRESENTING THE ENTIRE ISSUED AND PAID UP CAPITAL OF MERLIN DIAMONDS LIMITED (THE "PROPOSED TAKEOVER") CHANGE IN ACCEPTANCE PERCENTAGE AND SUBSTANTIAL INTEREST IN THE ISSUED AND PAID UP CAPITAL OF MERLIN DIAMONDS LIMITED


Innopac Holdings Limited (the "Company") refers to the announcements of 31st January, 26th March, 2nd
April, 15th April, 18th April 2013, and 2 May 2013 (the "Announcements").

Save as otherwise defined, all terms used in the Announcements shall have the same meaning when used in this announcement.

The Board of Directors of the Company is pleased to announce that as at 3 May 2013, holders of
98,865,101 shares, representing 56.24% in the issued and paid up capital of Merlin Diamonds Limited
("MED"), have accepted the takeover offer as set out in the Company's Bidder's Statement dated 26
March 2013.
The Company has lodged a notice with the Australian Securities Exchange ("ASX") of its change of deemed substantial interest in MED.
With the latest acceptances by MED shareholders, the Company's deemed substantial interest of 56.24%
represents a controlling interest in MED.

BY ORDER OF THE BOARD OF INNOPAC HOLDINGS LIMITED

Wong Chin Yong
Managing Director & Chief Executive Officer
6 May 2013

distributed by