ENERO GROUP LIMITED — Director's Dealing 2009

Sep 22, 2009

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 Photon Group Limited ABN 97 091 524 515

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	Timothy James Hughes
Date of last notice	31 August 2009

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	Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	� Oldyear Pty Limited as trustee for Egnar Holdings Superannuation Fund. Tim Hughes is a beneficiary of the fund. � Carinya Investment Management Pty Limited. Tim Hughes is a director. � Carinya Media Management Pty Limited. Tim Hughes is a director. � Timothy James Hughes and Jacqueline Anne Hughes. Tim Hughes is a joint holder.
Date of change	18 September 2009

• See chapter 19 for defined terms.

Appendix 3Y Page 1

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Appendix 3Y Change of Director’s Interest Notice

No. of securities held prior to change		Indirect Oldyear Pty Limited ATF Egnar Holdings Superannuation Fund – 814,966 ordinary shares Carinya Investment Management Pty Limited – 1,229,143 ordinary shares Carinya Media Management Pty Limited – 2,516,957 ordinary shares Timothy James Hughes & Jacqueline Anne Hughes – 10,150 ordinary shares Direct Timothy James Hughes-2,000,000 options
Class		Ordinary Shares
Number acquired		2,282,609
Number disposed		Nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation		$1.50
No. of securities held after change		Indirect Oldyear Pty Limited ATF Egnar Holdings Superannuation Fund – 1,507,449 ordinary shares Carinya Investment Management Pty Limited – 1,843,715 ordinary shares Carinya Media Management Pty Limited – 3,490,436 ordinary shares Timothy James Hughes & Jacqueline Anne Hughes – 12,225 ordinary shares Direct Timothy James Hughes-2,000,000 options
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back		Acquisitions associated with Rights Issue notified to the ASX on 17 August 2009. Note: off-market transfer of 570,000 shares at $1.72 on 10 September 2009 between controlled entities.

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

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Nature of interest	N/A
Name of registered holder (if issued securities)	N/A
Date of change	N/A
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	N/A
Interest after change	N/A

• See chapter 19 for defined terms.

Appendix 3Y Page 3

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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 Photon Group Limited ABN 97 091 524 515

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	Matthew William Bailey
Date of last notice	8 September 2009

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		Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.		� Matthew Bailey and Frances Bailey William Bailey Testamentary Trust>. Matthew Bailey is joint trustee and a beneficiary of the trust � IHAVEADREAM Pty Limited Superannuation Fund>. Mathew Bailey is a beneficiary of the fund.
Date of change		18 September 2009
No. of securities held prior to change		Indirect Matthew Bailey and Frances Bailey ATF Matthew William Bailey Testamentary Trust –1,027,823 ordinary shares. IHAVEADREAM Pty Limited ATF Majo Superannuation Fund – 661,900 ordinary shares. Direct Matthew William Bailey - 750,000 options

Appendix 3Y - MB - 16 Sept 2009 (RI)

• See chapter 19 for defined terms.

Appendix 3Y Page 1

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Appendix 3Y Change of Director’s Interest Notice

Class		Ordinary Shares
Number acquired		1,865,861
Number disposed		Nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation		$1.50
No. of securities held after change		Matthew Bailey and Frances Bailey ATF Matthew William Bailey Testamentary Trust –2,335,235 ordinary shares. IHAVEADREAM Pty Limited ATF Majo Superannuation Fund – 1,085,350 ordinary shares. Direct Matthew William Bailey – 135,000 ordinary shares Matthew William Bailey - 750,000 options
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back		Acquisition in connection with the Rights Issue announced to the ASX on 17 August 2009.

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 (if issued securities)	N/A
Date of change	N/A
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	N/A
Interest acquired	N/A

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Interest disposed	N/A
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	N/A
Interest after change	N/A

Appendix 3Y - MB - 16 Sept 2009 (RI)

• See chapter 19 for defined terms.

Appendix 3Y Page 3

11/3/2002

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 Photon Group Limited ABN 97 091 524 515

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	Susan Therese McIntosh
Date of last notice	15 July 2008

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		Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.		� Susan Therese McIntosh and Peter McIntosh . Susan McIntosh is joint trustee and beneficiary of the fund. � Peter McIntosh and Susan McIntosh Holdings S/F>. Susan McIntosh is joint trustee and beneficiary of the fund.
Date of change		18 September 2009
No. of securities held prior to change		Indirect Susan Therese McIntosh and Peter McIntosh ATF Supaa Superannuation Fund – 219,259 ordinary shares. Peter McIntosh and Susan McIntosh ATF Supaa Holdings S/F – 106,667 ordinary shares.
Class		Ordinary shares
Number acquired		162,964

Appendix 3Y - SM - 15 sept 2009 (RI)

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Number disposed		Nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation		$1.50 per share
No. of securities held after change		Indirect Susan Therese McIntosh and Peter McIntosh ATF Supaa Superannuation Fund – 328,889 ordinary shares. Peter McIntosh and Susan McIntosh ATF Supaa Holdings S/F – 160,001 ordinary shares.
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back		Acquisition in connection with the Rights Issue announced to the ASX on 17 August 2009.

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 (if issued securities)	N/A
Date of change	N/A
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	N/A
Interest after change	N/A

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002

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 Photon Group Limited ABN 97 091 524 515

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	Brian Lindsay Bickmore
Date of last notice	7 September 2009

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		Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.		� BB1 Pty Limited A/C>. Brian Bickmore is a beneficiary of the fund.
Date of change		18 September 2009
No. of securities held prior to change		Indirect BB1 Pty Limited ATF Bickmore Superannuation A/C – 110,667 ordinary shares. Direct Brian Lindsay Bickmore – 8,234 ordinary shares.
Class		Ordinary shares
Number acquired		24,117
Number disposed		nil

Appendix 3Y - BB - 16 Sept 2009 (RI)

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation		$1.50 per share
No. of securities held after change		Indirect BB1 Pty Limited ATF Bickmore Superannuation A/C – 130,667 Direct Brian Lindsay Bickmore – 12,351 ordinary shares.
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back		Acquisition in connection with the Rights Issue announced to the ASX on 17 August 2009.

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 (if issued securities)	N/A
Date of change	N/A
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	N/A
Interest after change	N/A

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002

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 Photon Group Limited ABN 97 091 524 515

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	Paul Gregory
Date of last notice	25 September 2006

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		Indirect
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.		� Paul Gregory Paul Gregory is a beneficiary of the fund.
Date of change		18 September 2009
No. of securities held prior to change		Indirect Paul Gregory - 160,000 ordinary shares
Class		Ordinary shares
Number acquired		40,000
Number disposed		Nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation		$1.50 per share

Appendix 3Y - PG - 15 Sept 2009 (RI)

• See chapter 19 for defined terms.

Appendix 3Y Page 1

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Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change		Indirect Paul Gregory - 200,000 ordinary shares
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back		Acquisition in connection with the Rights Issue announced to the ASX on 17 August 2009.

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 (if issued securities)	N/A
Date of change	N/A
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	N/A
Interest after change	N/A

• See chapter 19 for defined terms.

Appendix 3Y Page 2

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