GTN LIMITED — Major Shareholding Notification 2016

Sep 8, 2016

Form 603

Corporations Act 2001 Section 671B

Notice of initial substantial holder

To Company Name/Scheme	GTN Limited
ACN/ARSN	606 841 801
1. Details of substantial holder (1)
Name	JCP Investment Partners Ltd

085 400 540 ACN/ARSN (if applicable)

$07/S$ eptember/2016 The holder became a substantial holder on

2. Details of 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 on the date the substantial holder became a substantial holder are as follows:

Class of securities (4)	Number of securities	Person's votes (5)	Voting power (6)
Ordinary	13,531,713	13,531,713	6.73%

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

Holder of relevant interest	Nature of relevant interest (7)	Class and number of securities
JCP Investment Partners Ltd	Investment Management	Ordinary 13,531,713

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Class and number of securities
See Annexure A

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Holder of relevant interest	Consideration (9) Date of acquisition			Class and number of securities
		Cash	Non-cash
See Annexure B

6. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

Name and ACN/ARSN (if applicable)	Nature of association
N/A

7. Addresses

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

Name	Address
JCP Investment Partners	Level 23, Bourke Place, 600 Bourke Street, Melbourne VIC
Ltd	3000 Australia

Signature

print name	Nancy Day $\Lambda$	capacity	Company Secretary
sign here		date	$09/S$ eptember/2016
	DIDECTIONS

DIRECTIONS

• If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the $(1)$ 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 7 of the form.
• See the definition of "associate" in section 9 of the Corporations Act 2001. $(2)$
• See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001. $(3)$
• The voting shares of a company constitute one class unless divided into separate classes. $(4)$
• The total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or an $(5)$ associate has a relevant interest in.
• The person's votes divided by the total votes in the body corporate or scheme multiplied by 100. $(6)$
• $(7)$ Include details of:
• any relevant agreement or other circumstances by which the relevant interest was acquired. If subsection 671B(4) applies, a copy of $(a)$ 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
• any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or $(b)$ 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.

• If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write $(8)$ "unknown".
• Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was $(9)$ 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.

			Number of
Holder of Relevant Interest	Registered Holder of Securities	Class	Securities
JCP Investment Partners Ltd	National Nominees Limited	Fully Paid Ordinary	193,593
JCP Investment Partners Ltd	HSBC Custody Nominees (Australia) Limited	Fully Paid Ordinary	5,515,679
JCP Investment Partners Ltd	BNP Paribas Nominees Pty Limited	Fully Paid Ordinary	4,163,808
JCP Investment Partners Ltd	JPMorgan Nominees Australia Ltd	Fully Paid Ordinary	306,201
JCP Investment Partners Ltd	UBS Pty Ltd	Fully Paid Ordinary	3,352,432
			13.531.713

Nancy Day
Company Secretary
9/09/2016

i.

	Trades from the 7th May to 7th September 2016
	Instruments	Type of transaction	Ccy	Consideration	Quantity
JCP	GTN Limited	Purchase	AUD	\$4,750,000.00	2,500,000
JCP	GTN Limited	Purchase	AUD	673.293.60 S	320,000
JCP	GTN Limited	Purchase	AUD	1,658,033.58 S	811,200
JCP	GTN Limited	Purchase	AUD	2,326,193.31 S.	1,138,100
JCP	GTN Limited	Purchase	AUD	300,066.00 \$	150,000
JCP	GTN Limited	Purchase	AUD	S 200,044.00	100,000
JCP	GTN Limited	Purchase	AUD	S 586,320.50	289,700
JCP	GTN Limited	Purchase	AUD	33,361.58 S	16,512
JCP	GTN Limited	Purchase	AUD	178,783.62 S	88,461
JCP	GTN Limited	Purchase	AUD	\$ 6.601.45	3,300
JCP	GTN Limited	Purchase	AUD	S 22,349.92	10,900
JCP	GTN Limited	Purchase	AUD	\$5,898,829.68	1,963,540
JCP	GTN Limited	Purchase	AUD	\$ 3,419,069.10	1,050,000
JCP	GTN Limited	Purchase	AUD	\$16,574,344.29	5,090,000

"JCP" = JCP Investment Partners Ltd

Nancy Day
Company Secretary
9/09/2016