GTN LIMITED — Major Shareholding Notification 2016

Jun 22, 2016

603 page 1/2 15 July 2001

Form 603

Corporations Act 2001 Section 671B

Notice of initial substantial holder

To Company Name/Scheme ACN/ARSN	GTN Cimited 606841801
1. Details of substantial holder (1) Name ACN/ARSN (if applicable)	Devon Funds Management Limited
The holder became a substantial holder on	22/06/2016

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)	Voding power (6)
Ordinary	o9 4 2.57. "	-⁄ 252.oq⊈ سىس	5,5 эf
		$\cdots$

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 interesc	Nature of relevant interest (7)	Class and number of securities
Oggon Fundo Management	Direct Interest	Ordinary

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
		Dernfunds Management Devon Funds Management Opon Functs Management	Chelinory

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.	_________ Date of acquisition	Consideration (9)		Class and number of securities
Deron Functs Management See	MARGUNE	Casn	Non-cash

23. Jun. 2016 16:27 DEVON FUNDS MANAGEMENT LTD

$\overline{1}$

	Name and ACN/ARSN (if applicable) Nature of association
	7. Addresses The addresses of persons named in this form are as follows:
	Address Name
	Huchland Commerce street level 10 NZ. Funds Management 0 von
	Signature
	Mel Firmin Capacity Managing Director print name
	sign here
	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 7 of the farm.
$\langle 2 \rangle$	See the definition of "associate" in section 9 of the Corporations Act 2001.
$\left{ 3\right}$	See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.
$\left( 4\right)$	The voting shares of a company constitute one class unless divided into separate classes.
$\langle 5 \rangle$	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 essociate has a relevant Interest in.
(6)	The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.
J)	Include details of: any relevant agreement or other circumstances by which the relevant interest was acquired. If subsection 671B(4) applies, a copy of any document setting out (a) 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.
(9)	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".

$\hat{\mathcal{H}}$

$\ddotsc$

Annexure A

$\frac{1}{2}$

$\frac{1}{2}$

$\bar{z}$

Security	Transaction Date	Units in/(out)
GTN	IPO	9,921,054
GTN	14/06/2016	116,089
GTN	22/06/2016	1,220,000
	Total	11,257,094

$\bar{1}$

Signed: 2 Mel Firmin $\mathcal{L}$

Managing Director Date: 23/06/2016