GTN LIMITED — Major Shareholding Notification 2017

Jun 7, 2017

To:	Fax:
Markets Announcements Office, ASX Limited	1300 135 638
From:	Phone:
Craig Miller	$(02)$ 8256 1000
Date/Time:	Number of pages including this one:
8 June 2017	3
Subject:
Form $604 - GTN$

Attached is a Form 604 - Notice of change of interests of Substantial Holder in respect of shares held by Smallco Investment Manager Limited, in GTN Limited (GTN).

Craig Miller Secretary Smallco Investment Manager Limited

Form 604

Corporations Law Section 671B

Notice of change of interests of substantial holder

To: Company Name/Scheme	GTN Limited
ACN / ARSN:	167 541 568
Details of substantial holder(1) 1.
Name	Smallco Investment Manager Limited
ACN (if applicable):	092 626 090
There was a change in the interests of the substantial holder on:	05 / 06 / 17
The previous notice was given to the company on:	05 / 09 / 16
The previous notice was dated:	05 / 09 / 16

2. Previous 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 a 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	(5) Voting Power	Person's Votes	Voting Power (5)
Fully Pd Ord Shares	16,008,382	.96%	710 21.208.	9.44%

Changes in relevant interests $3.$

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:

Date of	Person whose relevant	Nature of	Consideration given in	. Class and Number .	Person's
change	interest changed	Change (6)	relation to change (7,	of securities	votes affected

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 holder	Nature of relevant interest	Class and number of securities	Person's votes
Smallco Investment Manager Limited	JP Morgan ACF Smallco Investment Fund	Smallco Investment Fund	Power to vote	8.545.657	8,545,657
Smallco Investment Manager Limited	JP Morgan ACF Smallco Broadcap Fund	Smallco Broadcap Fund	Power to vote	4,876,716	4,876,716
Smallco investment Manager Limited	Smalloo Investment Manager Limited <the CUT A/C-</the	The Cut Trust	Power to vote	7.786.337	7,786,337

5. Changes in association

The persons 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 fo

Name and ACN (if applicable)	Nature of association
-----

6. Addresses

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

Name	Address
Smallco Investment Manager Limited	Level 18 109 Pitt St Sydney NSW 2000
Smallco Investment Fund	Level 18 109 Pitt St Sydney NSW 2000
Smallco Broadcap Fund	Level 18 109 Pltt St Sydney NSW 2000
The CUT Trust	Level 18 109 Pitt St Sydney NSW 2000

Signature

$\bar{z}$

ъ. Print name Craig Miller		Capacity Secretary
Sign here waighthe	date	08/06/2017