4 February 2013 Notice under paragraph 2(f) of section 708AA of the Corporations Act (the "Act")

Sherwin has announced its intention to make a pro-rata non-renounceable offer of up to 22,444,653 fully paid, ordinary shares (Shares) each at an issue price of 9c per share (Rights Issue) to raise up to approximately $2,020,019 on the basis of 1 new share for every 32 existing fully paid ordinary shares held at 5pm (Sydney time) on 13 February 2013 (Record Date) by shareholders whose registered address is situated in Australia or New Zealand. Shareholders will be provided with a shortfall facility to acquire additional Shares ("Shortfall Shares"), being those Shares for which shareholders do not take up any or their full entitlements under the Rights Issue ("Shortfall").
The Company gives notice in accordance with paragraph 2(f) of section 708AA of the Act that:
(1) The Company will offer the Shares for issue without disclosure to investors under Part 6D.2 of the Act.
(2) This notice is being given under paragraph (2)(f) of Section 708AA of the Act.
(3) As at the date of this notice, the Company has complied with the provisions of Chapter 2M of the
Act as they apply to the Company.
(4) As at the date of this notice, the Company has complied with section 674 of the Act. (5) As at the date of this notice, there is no information:
(a)that has been excluded from a continuous disclosure notice in accordance with the ASX
Listing Rules; and
(b)that investors and their professional advisers would reasonably require for the purpose of making an informed assessment of:
(i) the assets and liabilities, financial position and performance, profits and losses and prospects of the Company; or
(ii) the rights and liabilities attaching to the Shares.
(6) The potential effect the issue of Shares under the Rights Issue will have on control of Sherwin is:
a) if all Shareholders as at the Record Date take up their full Entitlements under the Offer, the Offer will have no effect on the control of Sherwin.
b) if Shareholders take up only some of their entitlements under the Offer, then the Offer
will have an effect on control of Sherwin because the Shortfall will be available to Eligible
Shareholders who take up their full Entitlements and apply for additional New Shares.
c) If the three major shareholders, Citizen International Investments Pte Limited, Citizen International Investments Limited and Jerry Ren (who are related to each other and referred to as the "Citizen Shareholders") take up all of their Entitlements under the Offer and no other shareholders take up their entitlements (and there are no Shortfall Shares

taken up), then the interest of Citizen Shareholders will increase from 78.17% to 78.70%.
d) If no shareholders other than Citizen Shareholders take up their Entitlements under the Offer and the Citizen Shareholders take up all of the Shortfall shares, then the interest of Citizen International Investments Pte Limited and Citizen International Investments Limited will increase from 78.17% to 78.84%.
e) If the Citizen Shareholders do not take up any of their Entitlements under the Offer and other shareholders take up their Entitlements including all of the Shortfall Shares, then the interest of Citizen Shareholders will decrease from 78.17% to 75.81%.
f) As the Citizen Shareholders of the Company have a controlling interest both prior to and after the Rights Issue, the Rights Issue will have no material consequence on the control of the Company.
Barry Coulter
Chairman

P a g e | 2

distributed by