CHALLENGER GOLD LIMITED — Major Shareholding Notification 2012

Jun 27, 2012

604 page 1/2 15 July 2001

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme Challenger Energy Ltd ACN/ARSN 123 591 382

1. Details of substantial holder(1)

Name Pitt Street Absolute Return Fund Pty Limited

ACN/ARSN (if applicable) 141150254 There was a change in the interests of the 27 June 2012 substantial holder on The previous notice was given to the company on 19 March 2012 19 March 2012

The previous notice was dated

2. Previous and present 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 when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

substantial holder or an associate (2)substantial holding notice to the compan	substantial holder or an associate (2)substantial holding notice to the compan	substantial holder or an associate (2)substantial holding notice to the compan	had a relevant interest (3) in when lasy or scheme, are as follows:	had a relevant interest (3) in when lasy or scheme, are as follows:	t required, and when now required, to	t required, and when now required, to	t required, and when now required, to
Class of Securities (4)P					PresentNotice
	Class of Securities (4)	P	reviousnotice		PresentNotice
		P	erson’s Votes	Voting power	Person’s Votes	Voting power (5)
				(5)
	Ordinary Shares	1	6,575,000	6.12	21,160,000	6.79%
3.Changes of relevant interest
			s

3. Changes of relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

pany or scheme	are as follows:
Date ofChange	Person whoserelevant interestchanged	Nature ofchange(6)	Considerationgiven in relationto change (7)	Class andnumber ofsecuritiesaffected	Person’s votesaffected
21/3/2012	KnauerFamilySuper Pty Ltd<KnauerFamilySuper Fund A/C>	Placement	$8,775	135,000fpordinaryshares	135,000
26/3/2012	PittStreetAbsoluteReturnFund Pty Limited	OnmarketBuy	$14,8000	200,000fpordinaryshares	200,000
04/4/2012	PittStreetAbsoluteReturnFund Pty Limited	OnmarketBuy	$17,250	250,000fpordinaryshares	250,000
07/6/2012	PittStreetAbsoluteReturnFund Pty Limited	OnmarketBuy	$13,000	500,000fpordinaryshares	500,000
14/6/2012	PittStreetAbsoluteReturnFund Pty Limited	OnmarketBuy	$12,500	500,000fpordinaryshares	500,000
15/6/2012	PittStreet	Placement	$75,000	3,000,000	3,000,000

	Absolute	Return				fp ordinary
	Fund Pty Limited					shares
27/6/2012	Pitt	Street	Off	market	$80,600	3,100,000	3,100,000
	Absolute	Return	sale			fp ordinary
	Fund Pty Limited					shares
27/6/2012	Moneybung	Pty Ltd	On	market	$80,600	3,100,000	3,100,000
	<MoneybungA/C>	Family	purchase			fp ordinaryshares

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of Relevant	Registered	Person entitled to	Nature of	Class and		Person’s
interest	holder of	be registered as	relevant	number of		votes
	Securities	holder(8)	interest (6)	securities
PittStreetAbsoluteReturnFund Pty Limited	PittStreetAbsoluteReturnFundPty Limited	PittStreetAbsoluteReturnFund Pty Limited	Legal &BeneficialOwner	15,425,000ordinaryshares	fp	15,425,000
KnauerFamily	Knauer Family	KnauerFamily
Super Pty Ltd	Super Pty Ltd	Super Pty Ltd		2,635,000	fp
<KnauerFamily	<Knauer Family	<KnauerFamily	associate	ordinary		2,635,000
Super Fund A/C>	SuperFund	Super Fund A/C>		shares
	A/C>
MoneybungPty	Moneybung Pty	MoneybungPty		3,100,000	fp
Ltd<Moneybung	Ltd <Moneybung	Ltd<Moneybung	associate	ordinary		3,100,000
Family A/C>	Family A/C>	Family A/C>		shares

5. Changes in Association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable) Nature of Association Knauer Family Super Pty Ltd Director of Substantial Holder is a director of Knauer Family Super Pty Ltd <Knauer Family Super Fund A/C> Director of Substantial Holder is a beneficiary Moneybung Pty Ltd <Moneybung Family A/C> or the Moneybung Family Trust

6. Addresses

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

Name Address Pitt Street Absolute Return Fund Pty Limited 14 Macquarie Street Belmont NSW 2280 Knauer Family Super Pty Ltd <Knauer Family Super Fund A/C> 2A Bombala Street Dudley NSW 2290 Moneybung Pty Ltd <Moneybung Family A/C> PO Box 563 BELMONT NSW 2280

Signature

here

Print name

sign

Kris Knauer

==> picture [131 x 45] intentionally omitted <==

Director capacity

date 28/06/2012

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

• (6) Include details of:

  • (a) any relevant agreement or other circumstances because of which the change in relevant interest occurred. 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 or 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 powers 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.

• (7) Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details 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.

• (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) Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.