BLUGLASS LIMITED — Director's Dealing 2013

Apr 30, 2013

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/9/2001.

Name of entity: Bluglass Limited ABN 20 116 825 793

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Greg Cornelsen
Date of last notice	29 November 2011

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

	Direct or indirect interest	Direct or indirect interest	Direct or indirect interest	Direct or indirect interest	Direct and Indirect.	Direct and Indirect.	Direct and Indirect.	Direct and Indirect.	Direct and Indirect.
	Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.				Held Via Cornelsen Investments Pty Ltd andJarnel Superannuation Fund
	Date of change				1 May 2013
	No. of securities held prior to change				927,941 Fully Paid Ordinary Shares300,000 Director Incentive Plan Optionsexpiring1May2013,$0.17exercise price, subject to vestingcriteria280,000 Incentive Options issued toBluglass Incentive Option Trustexpiring 30 November 2014, $Nilexercise price, subject to vestingritri
						c	a
	Class			O		RD
	+ See chapter 19	for defined te	rms.

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Number acquired	100,000
Number disposed	Nil
Value/Consideration	$0.17 – exercise price of each option.
Note: If consideration is non-cash, provide details and estimated valuation
No. of securities held after change	1,027,941 Fully Paid Ordinary Shares
	280,000 Incentive Options issued to
	Bluglass Incentive Option Trust
	expiring 30 November 2014, $Nil
	exercise price, subject to vesting
	criteria
Nature of change	As a result of the exercise of 100,000
Example: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back	unlisted options at an exercise price of $0.17and the expiry of the unvested portion of the
	same series of options.

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract	n/a
Nature of interest	n/a
Name of registered holder	n/a
(if issued securities)
Date of change	n/a
No. and class of securities to	n/a
which interest related prior to
change
Note: Details are only required for a contract in relation
to which the interest has changed

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Interest acquired	n/a
Interest disposed	n/a
Value/ConsiderationNote: If consideration is non-cash, provide details and anestimated valuation	n/a
Interest after change	n/a

Part 3 –[+] Closed period

Part 3 –+Closed period
Were the interests in the securities or contracts detailedabove traded during a+closed period where prior writtenclearance was required?	No
If so, was prior written clearance provided to allow the tradeto proceed during this period?	N/A
If prior written clearance was provided, on what date was thisprovided?

• See chapter 19 for defined terms.

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