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re: exercise of options - good on you tox !!! ;31 January 2006
UNDERWRITING AGREEMENT
Tox Free Solutions Limited advises that it has today entered into an underwriting agreement in relation to the exercise of listed options due to expire at 5.00pm WST on 31 January 2006. The underwriting is for a maximum of 3,500,000 shortfall shares (being the underlying securities) not issued as a result of any failure of optionholders to exercise their options. The agreement has been entered into with David McArthur, the company secretary of Tox Free as underwriter. Mr McArthur as underwriter intends to procure that all the shortfall shares are to be subscribed for by key employees of the Company by way of sub-underwriting commitments. Mr McArthur is not intended to be the registered or beneficial holder of any of the shortfall shares. No fees are payable in relation to this underwriting or any sub-underwriting, and no shares will be issued to any directors, or their associates, or any related parties of the Company. Yours faithfully TOX FREE SOLUTIONS LIMITED I J BURTON Director