ENERO GROUP LIMITED — Director's Dealing 2009

Sep 3, 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	2 December 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.	 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	31 August 2009

• See chapter 19 for defined terms.

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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 – 1,361,451 ordinary shares Carinya Investment Management Pty Limited – 1,229,143 ordinary shares Carinya Media Management Pty Limited – 1,946,957 ordinary shares Timothy James Hughes & Jacqueline Anne Hughes – 1,800 ordinary shares Direct Timothy James Hughes - 606,214 ordinary shares Timothy James Hughes - 2,000,000options
Class		Ordinary Shares
Number acquired		32,215
Number disposed		Nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation		23,515 shares at $2.92 8,700 shares at $1.72
No. of securities held after change		Indirect Oldyear Pty Limited ATF Egnar Holdings Superannuation Fund – 1,384,966 ordinary shares Carinya Investment Management Pty Limited – 1,229,143 ordinary shares Carinya Media Management Pty Limited – 1,946,957 ordinary shares Timothy James Hughes & Jacqueline Anne Hughes – 10,150 ordinary shares Direct Timothy James Hughes - 2,000,000options
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back		On market acquisition. Note: intercompany transfers have occurred since the last notice between the entities listed

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.

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