GTN LIMITED — Major Shareholding Notification 2020

May 27, 2020

	FACSIMILE TRANSMITTAL SHEET
TO:	FROM:
Company Announcements Dept.	Sue Theckston
COMPANY:	DATE:
Australian Stock Exchange	28.05.20
FAX NUMBER:	TOTAL NO. OF PAGES INCLUDING COVER:
1300 135 638	4
RE: Change Substantial Shareholder Notification
$\square$ urgent $\square$ for review $\Box$ PLEASE COMMENT	$\Box$ PLEASE REPLY $\Box$ PLEASE RECYCLE

NOTES/COMMENTS:

Please find attached form 604 - Change Substantial holder notice for GTN Limited (GTN).

Kind Regards,

Sue Theckston Portfolio Administrator

ICE Investors Pty Ltd | ABN: 30 630 473 568 Authorised Representative of SG Hiscock & Company Ltd | AFSL: 240679 Level 12,350 Collins Street, Melbourne, 3000, Australia +61 3 9491 8100 | admin@iceinvestors.com.au | www.iceinvestors.com.au

	FACSIMILE TRANSMITTAL SHEET
TO: Company Announcements Dept.	FROM: Sue Theckston
COMPANY: GTN Limited	DATE: 28.05.20
FAX NUMBER INFO@GTNETWORK.COM.AU	TOTAL NO. OF PAGES INCLUDING COVER: 4
RE:
Change Substantial Shareholder Notification
$\square$ URGENT $\Box$ for review O PLEASE COMMENT	$\Box$ PLEASE REPLY E PLEASE RECYCLE

NOTES/COMMENTS:

Please find attached form 604 - Change Substantial holder notice for GTN Limited (GTN).

Kind Regards,

Sue Theckston Portfolio Administrator

ICE Investors Pty Ltd | ABN: 30 630 473 568 Authorised Representative of SG Hiscock & Company Ltd | AFSL: 240679 Level 12,350 Collins Street, Melbourne, 3000, Australia +61 3 9491 8100 | admin@iceinvestors.com.au | www.iceinvestors.com.au

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				cn 1	nona 172 15 July 2001

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme	GTN Limited
ACN/ARSN	606 841 801
1. Details of substantial holder(1)
Name	ICE Investors Pty Ltd
ACN/ARSN (if applicable)	630 473 568
There was a change in the interests of the substantial holder on	27/05/2020
The previous notice was given to the company on The previous notice was dated	20/09/2019 20/09/2019

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	Voting power (5)	Person's votes!	Voting power (5)
FULLY PAID ORDINARY	17,810,735 7,95%		113810735	16.42%

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
27/05/20	ICE INVESTORS	ISELL	\$1,716,216.00	4,000,000 4,000,000

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
ICE	HSBC CUSTODY			13810735	13, 810, 735
INVESTORS NOMINEES

604 DROB 2/2 15 July 2001

4. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (3) with, the substantial holder in relation to waive

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

6. Address

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

Name
	Address
. ICE INVESTORS PTY LTD
		Level 12, 350 Collins Street, Melbourne Vic 3000

Signature

	Print name ROGER WALLING
sign here					CAPA AV PORTFOLIO MANAGER
		MT I WIN		$480$ $281$ $05$ $12020$

DIRECTIONS

• . If there are a number of substantial holders with similar or related relevant interests (eg. a comporation and is related compositions, or the manager and trustee of an
  equity must), the names could be included in an ann $\langle 1 \rangle$
• See the definition of "associate" in section 9 of the Corporations Act 2001. $\boldsymbol{\Omega}$
• See the definition of "relevant interest" in sections 608 and 6719(7) of the Companions Act 2001. $\boldsymbol{\omega}$
• ${^{(4)}}$ The voting shares of a company constitute one class unless divided into separate classes.
• The person's voles divided by the total voles in the body corporate or scheme multiplied by 100. $(5)$
• ${6}$ Include details of:
• any relevant agreement or other circumstances because of which the change in relevant interest occurred. If autoaction 5719(4) andes, a copy of any
  document setting out the terms of any relevant agreement, and a statement $(a)$
• any qualification of the power of a person is exercise, control the exercise of, or influence the exercise of, the volking powers or disposes of the securities to
  which the relevant interest relates (indicating clearly the $|0\rangle$

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• Details of the consideration must include any and all benefits, money and other, that any parson from enternal internal internal was acquired hea, or may, become
  entitied to receive in relation to that acquisition. Details n
• If the substantial holder is unable to determine the identity of the person (eg. if the relevant traceast allegs because of an option) what "unknown". $(8)$
• Give details, if appropriate, of the precent association and any change in that association series the last substantial holding notice. Ø.