Innopac

Innopac: Group gave an update on the proposed takeover of Merlin Diamonds, that the Australian govt has given its no objection statement to the Company for acquiring up to 100% interest in Merlin Diamonds. MED is planning to start trial mining in Q2 2013 and commence commercial production by the second half of 2013. If the acquisition of Merlin Diamonds is completed, the deal could potentially increase Innopac's NTA by 50% to 4.38¢ based on 31 Dec 2012 figures, and cause EPS to decline 140% to a loss of 0.06¢.