Recapitalisation Proposal Approved

Sydney, 24 July 2009 (ASX:BVA/OTCQX:BRVSY) – Bravura Solutions Limited (Bravura or Company) is pleased to announce that at the General Meeting earlier today, shareholders approved all five resolutions required to give effect to the Recapitalisation Proposal.

Bravura’s Chairman, Mr Chris Ryan, said, “The Board is delighted with the strong support shown by shareholders for the Recapitalisation Proposal. Today’s approval of the Recapitalisation Proposal will substantially strengthen Bravura’s balance sheet, provide operational stability and resolve the long-standing uncertainty associated with Lift Capital.”

The Recapitalisation Proposal will now be implemented in accordance with its terms, with the first key step being the initiation on Monday, 27 July 2009 of the fully underwritten 1.57:1 non-renounceable rights issue. Documentation in relation to the rights issue, including a timetable of key dates and how to participate in the rights issue, will be released to ASX on 27 July 2009 and made available on the Company’s website. This documentation, including a personalised entitlement and acceptance form, will be dispatched to eligible shareholders in early August.

In accordance with Listing Rule 3.13.2 and section 251AA of the Corporations Act, details of the resolutions contained in the Notice of Meeting dated 18 June 2009 and the proxies received in respect of each resolution are set out in the proxy summary below.

Resolution 1 – Approval of the Underwriting

The instructions given to validly appointed proxies in respect of the resolution were as follows.

Resolution 1 - Approval of the Underwriting

The motion was carried as an ordinary resolution on a poll, in compliance with all applicable voting restrictions and exclusions as set out in the Explanatory Memorandum dated 18 June 2009.

Resolution 2 – Approval of issue of New Shares to the Underwriter on exercise of the Underwriter Options

The instructions given to validly appointed proxies in respect of the resolution were as follows.

Resolution 2 - Approval of issue of New Shares to the Underwriter on exercise of the Underwriter Options

The motion was carried as an ordinary resolution on a poll, in compliance with all applicable voting restrictions and exclusions as set out in the Explanatory Memorandum dated 18 June 2009.

Resolution 3 – Approval of the Margin Loan Security Arrangements

The instructions given to validly appointed proxies in respect of the resolution were as follows.

Resolution 3 – Approval of the Margin Loan Security Arrangements

The motion was carried as an ordinary resolution on a poll, in compliance with all applicable voting restrictions and exclusions as set out in the Explanatory Memorandum dated 18 June 2009.

Resolution 4 – Approval of the Rights Issue

The instructions given to validly appointed proxies in respect of the resolution were as follows.

Resolution 4 – Approval of the Rights Issue

The motion was carried as an ordinary resolution on a poll, in compliance with all applicable voting restrictions and exclusions as set out in the Explanatory Memorandum dated 18 June 2009.

Resolution 5 – Approval of the provision of the Underwriter Financial Benefits and the Executive Director Financial Benefit

The instructions given to validly appointed proxies in respect of the resolution were as follows.

Resolution 5 – Approval of the provision of the Underwriter Financial Benefits and the Executive Director Financial Benefit

The motion was carried as an ordinary resolution on a poll, in compliance with all applicable voting restrictions and exclusions as set out in the Explanatory Memorandum dated 18 June 2009.

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