The Board of Australian Renewable Fuels Limited (company) has finalised a proposal with Thorney Group in relation to a recapitalisation and repositioning of the company as an ASX-listed investment entity with a focus on technology investments and other disruptive business models (Transaction). The company will seek shareholder approval for the Transaction at the 2016 AGM. The company will hold its 2016 AGM at 11:00 am on 9 December 2016. As part of the Transaction, Mr. Alex Waislitz, founder of the Thorney Group and Mr. Jeremy Leibler, Partner of Arnold Bloch Leibler, will be appointed as non-executive chairman and non-execute director (respectively) to the Company with effect on the day of the company's annual general meeting. Mr. Martin Casey and Mr. Alan Fisher will remain as directors, and Mr. Craig Smith will resign as a director following the Company's AGM but will remain as Company Secretary.