LCM ASX Announcement Template

ASX Announcement 21 April 2011

Trading Update & Announcement of Capital Raising

LogiCamms Limited (“LogiCamms” or the “Company") today advises that it is no longer anticipating growth in the second half of the 2011 financial year (FY11) and is now expecting a Net Profit After Tax (NPAT) result for FY11 of $4.2m. This implies a break-even NPAT result for the second half of FY11.

The revision to estimated financial performance for the second half of FY11 is substantially driven by:  a loss experienced in our Northern operation in the third quarter driven by lower work volumes and a decline in staff chargeability. This has occurred primarily due to the floods and cyclone in Queensland and their subsequent impact on the timing of contract awards; and  recognition of additional project costs and unexpected revenue delays on two fixed price contracts.

Northern Operation

The Company’s Northern operation delivered a loss in the third quarter of FY11. The Queensland natural disasters adversely affected work volumes, staff chargeability and subsequently resulted in delays of new contract awards. The chargeability impact was compounded by the ongoing investment in people, including the recruitment of key personnel in the region in recent months to support anticipated work flows.

Project Performance

The Company has adjusted estimated costs to complete on two of its more significant fixed price contracts in the infrastructure sector being delivered in Queensland and Victoria respectively. These projects have experienced difficulties including inclement weather, schedule delays, natural disasters and cost overruns.

The Company has undertaken a review of both projects and believes project schedule delays are likely to impact the timing of workflows which is now expected to be deferred until next financial year.

Further, the review has identified and recognised additional costs, some of which may be recoverable, believed to form part of costs to complete the projects, resulting in a margin write back on these projects. The Company notes that despite these difficulties only one of these projects is presenting a loss at completion.

The Company is successfully delivering to client expectations on both projects and maintains healthy client relationships. The Company is in active discussion with these clients regarding the recovery of cost overruns outside of its control, however these matters may not be concluded before the end of FY11.

Company Details Company Secretary Share Registry LogiCamms Limited ASX: LCM Mr Ian Hobson Computershare Investor Services ACN 127 897 689 P +61 8 6331 8888 P 1300 557 010 (within Australia) P +61 3 9415 4000 (outside Australia) Non Executive Board Directors Investor Relations Contact W www.investorcentre.com Mr David Humann (Chairman) Mr Adam Keats Mr Giles Everist Managing Director Registered Office Dr Chris Greig P +61 8 6331 8888 35 Outram Street Mr Peter Wall AM West Perth WA 6005 Mr Damian Young P +61 8 6331 8888 F +61 8 9481 5045 Executive Directors E [email protected] Mr Adam Keats (Managing Director) W www.logicamms.com.au Mr Garry McGrechan Development Initiatives

The Company has previously advised the market of its investment in a program to further develop the capability of our people and systems, including the ongoing development of its risk management platform. This investment is required in order to underpin our growth ambitions in the medium to long term. The Company will continue to invest in the development of its people and systems into the future, whilst looking to manage the timing of this investment in the short term.

Managing Director, Adam Keats said, “The break-even NPAT expected for the second half of FY11 is the product of a small number of discrete, but material issues including factors outside our control. We will continue to invest in our medium to long term strategic objectives of building a solid platform for sustainable growth.”

Outlook

The Company continues to have a solid pipeline of opportunities, circa $320m, which is consistent with the value reported to the market in late February. In particular, the pipeline of opportunities in our Queensland operations has experienced significant growth in the last twelve months, driven by the Hydrocarbons and Mining & Minerals industries.

“Our Queensland team has worked to overcome the trading challenges experienced recently however the Company expects a return to normal operating conditions in the short term with an improving outlook beyond”, said Mr Keats.

Capital Raising

LogiCamms is pleased to announce it has received firm commitments to raise approximately $8.0 million (after costs) through the issue of fully paid ordinary shares (“Placement”) at a price of $1.25 per share.

The Placement price of $1.25 per share represents a discount to the last closing price on 18 April of $1.53. The Placement was heavily oversubscribed by new and existing institutional and sophisticated investors and was managed by Blackswan Equities.

Funds raised will be used to increase balance sheet strength to support future project opportunities. LogiCamms’ current pipeline of opportunities are approximately $320m and spans across its core Hydrocarbon, Mining and Minerals and Infrastructure industries. The purpose of the capital raising is to ensure LogiCamms has a strong balance sheet to fund working capital and bonding requirements to support these project opportunities. LogiCamms remains in a net cash position with undrawn finance facilities available.

Company Details Company Secretary Share Registry LogiCamms Limited ASX: LCM Mr Ian Hobson Computershare Investor Services ACN 127 897 689 P +61 8 6331 8888 P 1300 557 010 (within Australia) P +61 3 9415 4000 (outside Australia) Non Executive Board Directors Investor Relations Contact W www.investorcentre.com Mr David Humann (Chairman) Mr Adam Keats Mr Giles Everist Managing Director Registered Office Dr Chris Greig P +61 8 6331 8888 35 Outram Street Mr Peter Wall AM West Perth WA 6005 Mr Damian Young P +61 8 6331 8888 F +61 8 9481 5045 Executive Directors E [email protected] Mr Adam Keats (Managing Director) W www.logicamms.com.au Mr Garry McGrechan The Company has recently won in excess of $12m in new projects during the month of March and April to date, which includes the extension of umbrella agreements with key clients. This includes contracts with new and existing blue chip and strategic clients in the Hydrocarbons and Mining and Minerals industries.

The placement will settle in one tranche under the Company’s 15% capacity under ASX Listing Rule 7.1. Settlement is scheduled to occur on Wednesday, 4 May 2011.

“We are working our way through these short term challenges, and the Company remains focused on delivering the performance shareholders expect” said Mr Keats.

-Ends -

About LogiCamms

LogiCamms operates in the mining and minerals, hydrocarbons, infrastructure and specialist industries providing project and specialised engineering services that improve the value and productivity of assets.

The Company is headquartered in Perth, Western Australia with 7 additional offices across Australia including Brisbane, Melbourne, Adelaide, Darwin, Gladstone, Mackay and Whyalla.

LogiCamms’ Vision is to be a Market Leader delivering Outstanding Customer Solutions.

Company Details Company Secretary Share Registry LogiCamms Limited ASX: LCM Mr Ian Hobson Computershare Investor Services ACN 127 897 689 P +61 8 6331 8888 P 1300 557 010 (within Australia) P +61 3 9415 4000 (outside Australia) Non Executive Board Directors Investor Relations Contact W www.investorcentre.com Mr David Humann (Chairman) Mr Adam Keats Mr Giles Everist Managing Director Registered Office Dr Chris Greig P +61 8 6331 8888 35 Outram Street Mr Peter Wall AM West Perth WA 6005 Mr Damian Young P +61 8 6331 8888 F +61 8 9481 5045 Executive Directors E [email protected] Mr Adam Keats (Managing Director) W www.logicamms.com.au Mr Garry McGrechan