EML PAYMENTS LIMITED — Major Shareholding Notification 2011

Sep 4, 2011

Cullen Babington Hughes

lawyers

Directors: Rick Cullen, Ed Babington, Michael Hughes, Catriona Macleod Consultant: Paul Lyons In association with Durack & Zilko Lawyers

95 Stirling Highway Nedlands WA 6009 Telephone 9389 3999 Facsimile 9389 1511

FACSIMILE TRANSMISSION

DATE: 5 September 2011

TO: ASX Company Announcement Office

1300 135 638 FAX NO.

FROM: Blair Hebenton (reference number: 06769)

Form 603 RE:

Number of Pages: 3 (Including this cover sheet)

Please find following a form 603 from substantial shareholder EMerchants Holdings Pty Ltd (ACN 098 296 050), for the attention of the ASX.

If there are any queries in regard to this matter please contact our Blair Hebenton.

Cullen Babington Hughes Pty Ltd | www.cbhlegal.com.au Postal: PO Box 935, Nedlands WA 6909. ACN: 049 864 212

Form 603

Corporations Act 2001 Section 671B

Notice of initial substantial holder

To Company Name/Scheme		Adent Solutions Limited
acnmrsn		104 757 904
1. Details of substanded holder (1)
Nanto			fimerchants Moldings Fly Ltd
ACAIA/3SN (If applicable)		068 208 050
The holder hogame a substantial holder on			08/07/2011
2. Datails of voting person			The folal number of votes attacked to all the waing aheres in the company or volting interests in the scharm 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)			Voling power (6)
	Onlinery Shares		4,167,600		4.167.600
	Holder of relovant interest	Neiting of relevant interest (7)				Class and nomber of securities
	Emerchanis Holdings Pty Ltd		/Beneficial halder of chares			4,167,600 ordinary charges
4. Details of present registered holders Haldes of rolovant			The persons registered as holders of the enconflice referred to in perspreph 3 above are us follows: Registered holder of	Person enkled to be		Class and number
interest	Emerchants Holdings Pty Ltd.		securities Emorchants Holdings Pty Ltd	tegislated as holder (8)	Emerchants Holdings Pty Ltd	of securities. 14,167,600 ordinary ahans.
Consideration a cubstantial bolder is as follower. Holder of relevant			The consideration paid for each relevant interest referred to in paragraph 3 above, and enquired in the four numine prior to the doy that the substantial holder bacance Data of acquisition	Consideration (9)		Class and number
interest				T. ASH	won-cash"	ul secutiun
	Emerchants Holdings Pty Ltd		8 July 2011	ΪŃ	10.259259 andinary shares shares. in Emerchants Limited (ACN 131 436 532)	4,187,600 ordinary
6. Associates			The reasons the persons named in paragraph 3 above are ossociates of the substantial holder are as follows:
Not applicable	Name and ACN/ARSN (if applicable)		Nature of association

$\bar{\omega}$ .

	7. Addresses	The addresses of persons named in this form are as follows.
	Name		Aggiose
		Emerchants Holdings Pty Ltd		First floor, 160 Stirling Highway, Nedlands WA 6009
	Signature
		aign hore		protiname Richard Gerguson Copas, Director
			DIRECTIONS
$\langle 3 \rangle$	Where are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trucker of an equity totel). We names could be beluded to an annexute to the form. If the relevant interests of a group of paratine are essentially smiller, they may be referred to throughout the fourt on a openitically named group if the membership of each group, with the names and addresses of members is clearly set out in parograph ? of the term.
(2)		See the defallion of "associate" in section 9 of the Corporations Aci 2007
(3)	Sau the debalkon of "relevent interest" in sections 608 and 6718(7) of the Corporations Act 2001.
(4)	The sching choice of a company considere one class unless divided into separate classes.
仍	interast in			The total number of votas uttocked to all the voling shares in the company or voting interests in the schume of any) find the person or an associate has a raison or
$\langle 6 \rangle$			The parson's value divided by the fold! velas in the body comprete or scitams radiigiked by 100.
m	include details, o f : to.		accompany this form, togother with a valitan sixtament caribying this contract, scheme or amangament, and	any relevent agreement or other propressioners by which the relevent interest was acquired. If subsecters 6718(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving (in) and accurate details of any contract, scheme or amongement, must
	(b)		to which fire relevant interest relates fiscicating clearly the particular securities to which the qualitication anglicat	any qualification of the power of a gorson to exercise, control the exercise of, or influence the exercise of, the voing powers or disposal of the securities
		See the definition of Trelevent agreement" in section 9 of the Corporations Act 2001.
₩				if the substantist huider is unable to determine the ideality of the person (eg. If the releved interact science because of un cylony write "untoway".
(W		the relevant interest was acquired.		Details of the consideration must include ony and all benefits, mansy and other, that any personfrom whom a rolevant interest was acquired inta, or may, become callifed to receive in relation to that ecquisition. Details must be included even if the banafit is conditional on the happoning or red of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in ratation to the ocquisitions, even if they are not gold directly to the person from whom

$1000000000000000000000000000000000000$

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