THORN GROUP LIMITED(TGA)

delisted at entity's request under Listing Rule 17.11

we understand Somers Limited acquired all of the ordinary shares in Thorn that it did not already own with Thorn shareholders sent $1.17 per share in cash less any dividend or capital return announced or declared

The Scheme under which it was proposed that Somers Limited would acquire all of the ordinary shares in Thorn that it does not already own has today been implemented. Thorn shareholders have today been sent $1.17 per in cash for each Thorn share they held on the Scheme Record Date (5 December 2023), less any dividend or capital return announced or declared. In accordance with the terms of the Scheme, all Thorn shares not already held by Somers, have been transferred to Somers.

The Australian Taxation Office has today published Class Ruling (CR 2023/68 Thorn Group Limited "“ return of capital) in respect of the Australian income tax implication for Thorn shareholders who received the capital return approved by Thorn shareholders on 31 August 2023 and paid on 13 September 2023. The Class Ruling only applies to persons who were eligible shareholder of Thorn on 6 September 2023 and received the capital return payment of 26 cents per ordinary Thorn share on 13 September 2023 and held their Thorn shares on capital account (but are not subject to the taxation of financial arrangement rules). The Class Ruling confirms that: no part of the return of capital paid by Thorn is assessable as a dividend; and the cost base for each Thorn share will be reduced by the amount of the capital return for the purposes of calculating any capital gain or loss on the ultimate disposal of that Thorn share. An immediate capital gain will arise for shareholders where the cost base of a share is less than the amount of the capital return.

The securities of Thorn Group Limited will be suspended from quotation at the close of trading today, Friday, 1 December 2023 under Listing Rule 17.2, following lodgement of the Supreme Court of New South Wales orders with the Australian Securities and Investments Commission, approving the scheme of arrangement by which Somers Limited will acquire all of the ordinary shares in TGA, which it does not already own.

name changed from RR Australia Limited