ENERO GROUP LIMITED — Major Shareholding Notification 2014

Apr 6, 2014

FAX MESSAGE

Date: 7 April 2014

To: Company: Fax number: Company Announcements Office Australian Stock Exchange 1300 135 638

From: Steve Johnson Contact number: 02 8305 6051 Pgs (inc cover): $\overline{4}$

FORM 604 - NOTICE OF CHANGE OF INTERESTS OF SUBSTANTIAL HOLDER

We attach our change of interests of substantial holder notice with regards to our holdings in Enero Group Limited (EGG).

Steven Johnson Director

$\mathsf{m}$

$02 >$

Form 604

Corporations Act 2001

Soction 671B

NOTICE OF CHANGE OF INTERESTS OF SUBSTANTIAL HOLDER

To Enero Group Limited (ASX Code: EGG) ACN/ARSN 091 524 515

1. Details of substantial holder (1)

Name	Intelligent Investor Funds Pty Ltd
ABN	78 138 351 345

There was a change in the interests of the substantial holder on	03 / 04 / 2014
The previous notice was given to the company on	25 / 11 / 2013
The previous notice was dated	20 / 11 / 2013

2. Provious 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 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:

Class of securities (4)	Previous notice		Present notice
	Person's votes	Voting power (5)	Person's votes	Voting power (5)
Ordinary Shares	5478.815	6.40%	4.478.815	5.23%

3. Details in 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:

Person whose relevant interest changed	Nature of change (6)	Date of change	Consideration received in relation to change (7)	Class and number of securities affected	Person's votes affected
Fundhost Limited as responsible entity of	On-market Sale	3/04/2014	\$646,800.00	616,000 ordinary units	616,000
the intelligent Investor Value Fund		13/03/2014	\$5,110.35	4,867 ordinary units	4,867
		12/03/2014	\$398,203.39	379,133 ordinary units	379,133
Intelligent Investor Funds Pty Ltd

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 interest	Registered holder of securities	Person entitled to be registered as holder (8)	Nature of relevant interest (6)	Class and number of securities	Person' s votes
Intelligent Investor Funds Pty Ltd	In respect of holdings in EGG by Fundhost Limited as responsible entity of the Intelligent Investor Value Fund. National Nominees Limited In respect of holdings in EGG by Macro Capital Limited as Responsible Entity of the Intelligent Investor Wholesale Value Fund	Fundhost Limited as responsible entity of the Intelligent Investor Value Fund Macro Capital Limited as Responsible Entity of the Intelligent Investor Wholesale Value Fund	Power to (or to control) exercise vote 4,478,815 fully paid ordinary units and/or dispose of the securities as investment managers of the Intelligent Investor Value Fund and Intelligent Investor Wholesale Value Fund	4478.815 ordinary units	5.23%

5. Changes in association

The person 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/ASRN 75E 'applicable)	--- — Name association . OT _
	THE R. P. LEWIS. --- ------- ----
-- .	--- ___

6. Addresses

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

Name	Address
Enero Group Limited	Level 3, 1 Buckingham Street, Surry Hills, NSW, Australia 2010
Fundhost Limited	Suite 1, Level 9, 70 Castlereagh St, Sydney NSW, Australia, 2000
Intelligent Investor Funds Pty Ltd	Level 2, 122 Pitt St, Sydney, NSW, 2000
Intelligent Investor Value Fund	PO Box N561, Grosvenor Place, Sydney, NSW, Australia, 1219
Intelligent Investor Wholesale Value Fund	Unit 2, 55 Salvado Road, Subiaco, WA, Australia, 6008
Macro Capital Limited	Unit 2, 55 Salvado Road, Subiaco, WA, Australia, 6008

$02 \rightarrow$

Signature

Print name:

Steven Johnson

Signature

Date: 7 April 2014

Capacity: Director

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.