Kangaroo Resources Limited

ABN: 38 120 284 040

ASX Code: KRL

3 December 2018

ASX RELEASE

SUPREME COURT APPROVES SCHEME

Kangaroo Resources Limited (ASX: KRL) (Kangaroo) is pleased to announce that earlier today the Supreme Court of Western Australia approved the Scheme of Arrangement pursuant to which PT. Bayan Resources, Tbk (Bayan) will acquire all of the issued shares of Kangaroo that it does not already own for cash consideration of $0.15 per share (Scheme).

Kangaroo intends to lodge the Court's orders approving the Scheme with the Australian Securities and Investments Commission (ASIC) tomorrow. Upon lodgement of orders with ASIC, the Scheme will be effective.

Subject to lodgement of the Court's orders with ASIC (which will be announced tomorrow, 4 December 2018):

  • • trading in Kangaroo's shares on ASX will be suspended from close of trading on 4 December 2018; and

  • • Kangaroo shareholders (other than Bayan) who hold shares at 7pm AEDT on Thursday, 6 December 2018 will receive the scheme consideration of $0.15 per share payable on implementation of the Scheme, which is expected to take place on 11 December 2018.

For further information please contact:

Paul Jurman, Company Secretary

Tel +61 (8) 9381 4320 Fax +61 (8) 9380 6761 Email -info@kangarooresources.com

Level 2, Suite 9, 389 Oxford Street, Mount Hawthorn, Western Australia 6016

| +61 8 9381 4320| +61 8 9380 6761

www.kangarooresources.com

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Kangaroo Resources Limited published this content on 03 December 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 03 December 2018 03:06:02 UTC