GTN LIMITED — Major Shareholding Notification 2018

Nov 20, 2018

Facsimile

From:	Bruce Cooper	To:	Market Announcements Office ASX Limited
Fax No:	03 8795 8105	Fax No:	1300 135 638
Date:	21 November 2018	Pages:	3 including this page
Subject:	Substantial Shareholder Notice - GTN Limited

Dear Sir / Madam

Please find following a Notice of initial substantial shareholder (form 603) in GTN Limited (GTN). This notice relates to positions held by H.E.S.T. Australia Limited as Trustee for Health Employees Superannuation Trust Australia ("the Trustee").

Please contact me should you require additional information.

Regards,

Bruce Cooper General Manager Investment Operations HESTA Super Fund Tel: 613 8660 1675 Email: bcooper@hesta.com.au

Form 603

Corporations Act 2001 Section 671B

Notice of initial substantial holder

To Company Name/Scheme GTN Limited

ACN 606 841 801

1. Details of substantial holder (1)

H.E.S.T Australia Limited as Trustee for Health Employees Superannuation Trust Australia Name

ACN/ARSN (if applicable) 006 818 695

The holder has become a substantial holder on

2. Detail 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 are as follows:

19/11/2018

Class of securities (4)	Number of securities والمحامل المستحدثات	s votes (5) Person's	Voting power (6)
Jrdinary	11.362.554 12,000,000	-1,362,554	5.06%

3. Detail of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the 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 ---
H.E.S.T Australia Limited as Trustee for Health Employees Superannuation Trust Australia	Beneficial Owner	11,362,554

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	Persons entitled to be registered as holder (8)	Class and number of securities
H.E.S.T Australia Limited as Trustee for Health Employees Superannuation Trust Australia	JP Morgan Nominees Australia Limited	H.E.S.T Australia Limited	11.362.554

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)
H.E.S.T Australia Limited as		Cash i	Non-Cash
Trustee for Health Employees
Superannuation Trust
Australia
Open				5,966,775
	29/05/2018	\$12,887.70		6,137
	15/08/2018	\$38,556.00		16,800
	16/08/2018	\$797,783.42		351.400
	21/09/2018	\$283,360.30		149,137
	21/09/2018	\$7,278,339.50		3,830,705
	3/10/2018	\$2,637.44		1,268
	15/10/2018	\$242,272.00		121,136
	2/11/2018	$-55,847.65$		-2,638
	7/11/2018	\$1,269,386.42		616,207
	12/11/2018	$-53,652.85$		$-1,699$
	15/11/2018	\$1,416.00		708
	16/11/2018	\$597,905.10		306,618
Close				11,362,554

6. Associates

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

ALC \ (if applicable, . Name and ACN/ARSN	Nature of association

7. Addresses

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

Name	Address
H.E.S.T Australia Limited as Trustee for	Level 20, 2 Lonsdale Street
Health Employees Superannuation Trust	Melbourne VIC 3000
Australia

Signature

Print name

Làura Dhana

Capacity Company Secretary

Sign here

Deally

date $\partial U / U / \partial \partial \mathcal{B}$