GTN LIMITED — Major Shareholding Notification 2018

Dec 20, 2018

Form 604

Corporations Law

Section 671B

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

19/12/2018

The previous notice was given to the company on 19/10/2018 The previous notice was dated 19/10/2018

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:

Class of securities (4)	Previous notice	Previous notice	Present notice	Present notice
	Person's votes	Voting power (5)	Person's votes	Voting power (5)
FPO	19,847,423	8.83%	22,761,825	10.13%

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:

Date of change	Person whose relevant interest changed	Nature of change (6)	Consideration given in relation to change (7)	Class and number of securities affected	Person's 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 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.	19,847,423 FPO	19,847,423
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 Investments Pty Ltd (“MFI”)	National Nominees Ltd	MFI	Relevant interest under section 608(1)(a) of the Corporation Act 2001 (Cth)	2,914,402 FPO	2,914,402

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 MFI (ACN 004 116 296) Association due to Section 12(2)(c) of the Corporation Act 2001 (Cth) on the basis that Viburnum is the trustee of a trust of which MFI is a unit holder.

6. Addresses

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

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

Signature

Print Name David St Quintin Capacity Company Secretary Sign Here Date 21 / 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 21 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)