GTN LIMITED — Major Shareholding Notification 2018

Dec 26, 2018

Corporations Law

Section 671B

Form 604

Notice of change of interests of substantial holder

To Company Name/Scheme GTN Limited ( GTN ) ACN/ARSN 606 841 801

1. Details of substantial holder (1) Name Viburnum Funds Pty Ltd (“Viburnum”) and each of the parties listed in Annexure A ABN (if applicable) 126 348 990

There was a change in the interests of the substantial holder on 21/12/2018 The previous notice was given to the company on 21/12/2018 The previous notice was dated 21/12/2018

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:

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Class of securities (4) Previous notice Present notice
Person's votes Voting power (5) Person's votes Voting power (5)
FPO 22,761,825 10.13% 31,200,157 13.88%
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3. Changes 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:

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Date of change Person whose Nature of change Consideration given in Class and number Person's votes
relevant interest (6) relation to change (7) of securities affected
changed affected
20 / 12 / 2018 to Viburnum Purchase of $ 8,940,986 8,438,332 FPO 8,438,332
27 / 12 / 2018 shares on market
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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
Viburnum	JP Morgan Nominees Australia Ltd	Viburnum	Power to (or to control) exercise vote and/or dispose of the securities as discretionary investment managers or advisers of superannuation funds, pooled superannuation trusts, managed investment schemes and investment management agreements.	28,285,755 FPO 28,285,755
Viburnum Subsidiaries and Associates referred to in Annexure A	As above	As above	Relevant interest under section 608(3)(a) and/or 608(3)(b) of the Corporations Act 2001 (Cth).

The Myer Family National MFI Relevant interest under 2,914,402 2,914,402

Investments Pty Nominees Ltd section 608(1)(a) of the FPO Ltd (“MFI”) Corporation Act 2001 (Cth)

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 follows:

Name and ACN/ARSN (if applicable) Nature of association Nil changes

6. Addresses

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

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Name Address
Viburnum 31 Carrington Street, Nedlands, WA, 6009
MFI Level 7, 171 Collins Street, Melbourne, VIC 3000
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Signature

Print Name David St Quintin Capacity Company Secretary Sign Here Date 27 / 12 / 2018

Annexure A to form 604

This is Annexure A of 1 page referred to in ASIC form 604 (Notice of change of interests of substantial holder), for GTN Limited

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David St Quintin Company Secretary 27 December 2018

Viburnum Funds Pty Ltd Subsidiaries (“ Viburnum Subsidiaries ”):

Viburnum Management Pty Ltd (ACN 126 937 424) Viburnum Holdings (Singapore) Pte. Ltd. V3 Trustees Pte. Ltd. V3 Management Pte. Ltd. Viburnum Management Pte. Ltd

Viburnum Funds Pty Ltd Associates (“ Viburnum Associates ”):

Wyllie Funds Management Pty Ltd (ACN 125 989 693) Wyllie Group Pty Ltd (ACN 008 763 120)