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I don't think I would be buying TEY (Torrens Energy). See any thing familia?

5 March 2012
Australian Securities Exchange
REQUISITION OF GENERAL MEETING
Torrens Energy Limited (TEY or Company) announces that it has received a request from a
shareholder holding more than 5% of the votes that may be cast at a general meeting to call
a general meeting under section 249D of the Corporations Act 2001 (Cth).
The request has been received from Deck Chair Holdings Pty Limited (Deck Chair) for the
purpose of putting to shareholders resolutions for the election of Messrs Gabriel Chiappini and
Winton Willesee as directors of the Company, and the removal of Messrs Dennis Gee, Howard
McLaughlin, John Canaris and David Eiszele as directors of the Company.
TEY understands that Deck Chair is a company associated with Darien Jagger, a director of,
and head of corporate finance in Perth, at Cygnet Capital Pty Ltd (Cygnet). Cygnet was the
lead manager of TEY's initial public offering in 2007, and most recently acted as underwriter to
TEY's entitlement issue completed in September 2011, and has been paid considerable fees
by TEY in respect of these mandates. In view of the relationship between the Company and
Cygnet, the board of directors of TEY is disappointed with the circumstances that have arisen,
and is investigating its legal options.
TEY will comply with its obligations pursuant to section 249D of the Corporations Act.
Further information will be provided to the market in due course.


Yours sincerely
Robert Hodby
Company Secretary
Torrens Energy Limited