POWER RESOURCES LIMITED (ASX.PWW)

name changed to K2fly Limited

The securities of the Company will be reinstated to Official Quotation from the commencement of trading on Tuesday 22 November 2016, following the Company's compliance with Listing Rule 11.1.3 and Chapters 1 and 2 of the ASX Listing Rules.

The capital raising under the Company's prospectus lodged with ASIC on 22 August 2016 has been closed. The Company has issued 20,625,000 fully paid ordinary shares pursuant to the capital raising the subject of the Prospectus. The Company is in the process of settling the acquisition of the assets of K2fly NL.

The Annual General Meeting of Members of Power Resources Limited will be held on Wednesday, 30 November 2016 commencing at 1:00 pm (WST) at the offices of Steinepreis Paganin, Level 4, The Read Buildings, 16 Milligan Street, Perth, Western Australia.

The company lodges its Quarterly Cashflow Report.

The company lodges its Quarterly Activities Report.

PWW previously issued a prospectus to raise a minimum of A$4,000,000 in order to acquire the Enterprise Asset Management Technology Assets business of K2fly NL. The company has received a strong response from investors and is oversubscribed for the minimum prospectus offer. The company advises that the closing date for the offer will be extended to Thursday, 13 October 2016, to allow it to finalise its spread in compliance with ASX regulations, and to process the additional subscriptions.

On 22 August 2016, PWW issued a Prospectus to raise a minimum of A$4,000,000 in order to acquire the Enterprise Asset Management Technology Assets business of K2fly. The Company is pleased to advise that, due to a strong response from investors, the Company has received firm commitments with the minimum Prospectus Offer now oversubscribed. PWW further advises that it is currently in the process of dealing with spread requirements in relation to the listing. As such, the Company advises that the closing date for the Offer will be extended to Tuesday, 4 October 2016 (from the original closing date of today, Tuesday 27 September 2016), to allow it to finalise its spread in compliance with ASX regulations, and to process any additional subscriptions.

The company releases its Appendix 4G.

The company lodges its Annual Report to shareholders.

we understand that on or about this date the company consolidated its shares 5 for 47

The company lodges a prospectus for an offer of up to 25,000,000 Shares at an issue price of $0.20 per Share to raise up to $5,000,000 with a minimum subscription of $4,000,000.

The company lodges the results of its meeting.

The company lodges its Quarterly Activities Report.

Shareholders get 5 shares for every 47 presently held.

Notice is given that the Meeting will be held at 11 am WST on 22 August 2016 at: Steinepreis Paganin Level 4 The Read Building 16 Milligan Street Perth WA 6000

The company releases its K2fly Investor Presentation.

On 14 June 2016, the Company and K2fly entered into an Amended and Restated Sale of Asset Agreement which dealt with changes to the consolidation of the share capital of Power as well as the changes to the deemed issue price of shares pursuant to the Transaction. Pursuant to changes in ASX Guidance Note and Listing Rule policy, the transaction terms for the proposed acquisition of the Enterprise Asset Management Technology from K2fly have been amended. As a result of the changes to the Listing Rule and Guidance Note policy, Power will be unable to apply to the ASX for a waiver which would have allowed the Company to raise funds at not less than 2 cents per share, commonly referred to as the "2 cent waiver".

The securities of Power Resources Limited (the "Company") will be suspended from official quotation immediately, following receipt of an announcement regarding its proposed change of activities. The Company's securities will remain suspended until the Company has complied with Chapters 1 and 2 of the Listing Rules in accordance with Listing Rule 11.1.3.

listed entity carried for record purposes only