ADALTA LIMITED — Major Shareholding Notification 2020

Aug 23, 2020

603 page 1 /2 15 July 2001

Form 603

Corporations Act 2001 Section 671B

Notice of initial substantial holder

To Company Name/Scheme AdAlta Limited

ACN/ARSN 120 332 925

1. Details of substantial holder (1)

Name MEURS HOLDINGS PTY LTD atf P&M MEURS SUPERANNUATION FUND ACN/ARSN (if applicable) 113 136 119

The holder became a substantial holder on

18/08/2020

2. Details of voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in on the date the substantial holder became a substantial holder are as follows:

Class of securities(4)	Number of securities	Person's votes(5)	Voting power(6)
ORDINARY FULLY PAID	10,356,001	10,356,001	5.08%

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder areas follows:

lder areas follows:
Holder of relevant interest	Nature of relevant interest (7)	Class and number of securities
MEURS HOLDINGS PTY LTD atf P&M	Trustee	10,356,001
MEURS SUPERANNUATION FUND		ORDINARY SHARES

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

Holder of relevant	Registered holder of	Person entitled to be	Class and number
interest	securities	registered as holder (8)	of securities
MEURS HOLDINGS PTY LTD	MEURS HOLDINGS PTY LTD	MEURS HOLDINGS PTY LTD	10,356,001
atf P&M MEURS	atf P&M MEURS	atf P&M MEURS	ORDINARY
SUPERANNUATION FUND	SUPERANNUATION FUND	SUPERANNUATION FUND	SHARES

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Holder of relevant	Date of acquisition	Consideration (9)	Consideration (9)	Class and number
interest				of securities
		Cash	Non-cash
MEURS HOLDINGS PTY LTD atf P&MMEURS SUPERANNUATION FUND	18/08/2020	$500,000	-	5,000,000Ordinary
MEURS HOLDINGS PTY LTD atf P&MMEURS SUPERANNUATION FUND	20/05/2020	$24,518	-	356,000Ordinary
MEURS HOLDINGS PTY LTD atf P&MMEURS SUPERANNUATION FUND	03/07/2019	$97,681	-	651,210Ordinary
MEURS HOLDINGS PTY LTD atf P&MMEURS SUPERANNUATION FUND	29/05/2019	$152,319	-	1,015,458ordinary
MEURS HOLDINGS PTY LTD atf P&MMEURS SUPERANNUATION FUND	19/07/2018	$1,000,000	-	3,333,333Ordinary

603 page 2 /2 15 July 2001

6. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

Name and ACN / ARSN (if Nature of association applicable)

7. Addresses

The addresses of persons named in this form are as follows:

Name Address MEURS HOLDINGS PTY LTD atf P&M Level 2, 25 Duke Street, Abbotsford, Vic, 3067 MEURS SUPERANNUATION FUND

Signature

Mark Williams Power of Attorney print name capacity sign here date 24 August 2020

DIRECTIONS

• (1) If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related, corporations or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 7 of the form.

• (2) See the definition of "associate" in section 9 of the Corporations Act 2001.

• (3) See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.

• (4) The voting shares of a company constitute one class unless divided into separate classes.

• (5) The total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or an associate has a relevant interest in.

• (6) The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.

• (7) Include details of:

  • a) any relevant agreement or other circumstances by which the relevant interest was acquired. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme of arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and

  • b) any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting power or disposal of the securities to which the relevant interest relates(indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• (8) If the substantial holder is unable to determine the identity of the person ( eg. if the relevant interest arises because of an option) write "unknown".

• (9) Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest acquired has, or may, become entitled to receive in relation to that acquisition. Detail must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.