ARL

Share Consolidation Update  
At the Annual General meeting held on 24 November 2015, shareholders approved a share consolidation on the basis of 1 share for every 200 shares held. The consolidation will create a capital structure that is more appropriate for a listed entity of the Company's size.   
The total share on issue have reduced from 980,558,167 shares to 4,905,441 shares following the share consolidation.  
Shareholders will be sent new statements today.   
Please note this share consolidation has no direct effect on Shareholders' percentage interests in the Company, except to the extent that any fractional securities need to be rounded up as a result of the consolidation.  Furthermore, the aggregate value of each Shareholder's proportional interest in the Company should not materially change solely as a result of the consolidation.  
In theory, the notional market price of each share following the consolidation should increase to 200 times its current value. In reality, the actual effect on the per Share market price will depend on a number of factors outside the control of the Company, and the market price following consolidation may be higher or lower than the theoretical post-consolidation price.  The Company can make no guarantee in relation to the Share price post consolidation.  
  Sincerely,  
Victoria Allinson Company Secretary Email: [email protected]