GTN LIMITED — Major Shareholding Notification 2023

Oct 30, 2023

Form 604 Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

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|---|---|---|---|
|To Company Name/Scheme|GTN Ltd|
|ACN/ARSN:|38 606 841 801|Source:|Australian Business Register|
|1. Details of substantial holder (1)|
|Name:|Perennial Value Management Limited (PVM)|
|ACN/ARSN (if applicable)|22 090 879 904|
|There was a change in the interest of the substantial holder on|30 October 2023|
|The previous notice was given to the company on|28 March 2023|
|The previous notice was dated|28 March 2023|

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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 relavant 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)
Ordinary 24,278,591 11.61 25,512,144 12.62
Change in voting power is partly attributable to share cancellation pursuant to an on-market buy-back
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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 relevant|Nature of change (6)|Consideration given in|Class & number of|Person's votes affected|
|interest changed|relation to change (7)|securities affected|
|28/03/2023|[BNP Paribas Securities ]|Buy on the Market|$ 1.00|2|2|
|Services|
|28/03/2023|[BNP Paribas Securities ]|Buy on the Market|$ 7,214.18|14,151|14,151|
|Services|
|28/03/2023|[Citicorp Nominees Pty Limited]|Sell on the Market|$ 40,784.00|80,000|80,000|
|28/03/2023|[HSBC]|Buy on the Market|$|1.50|3|3|
|28/03/2023|[HSBC]|Buy on the Market|$|8,621.23|16,911|16,911|
|28/03/2023|[Northern Trust]|Buy on the Market|$|24,948.59|48,938|48,938|
|28/03/2023|[Northern Trust]|Buy on the Market|$|4.51|9|9|
|30/03/2023|[HSBC]|Sell on the Market|$|7,723.29|15,000|15,000|
|3/04/2023|[HSBC]|Sell on the Market|$ 53.99|100|100|
|5/04/2023|[Citicorp Nominees Pty Limited]|Sell on the Market|$ 30,600.00|60,000|60,000|
|5/04/2023|[HSBC]|Buy on the Market|$|30,600.00|60,000|60,000|
|24/04/2023|[BNP Paribas Securities ]|Buy on the Market|$ 2,185.00|4,600|4,600|
|Services|
|24/04/2023|[Citicorp Nominees Pty Limited]|Sell on the Market|$ 2,185.00|4,600|4,600|
|28/04/2023|[HSBC]|Buy on the Market|$|26,751.69|54,021|54,021|
|1/05/2023|[HSBC]|Sell on the Market|$|4,848.93|10,000|10,000|
|12/05/2023|[HSBC]|Sell on the Market|$|4,698.97|10,000|10,000|
|26/05/2023|[HSBC]|Sell on the Market|$|4,648.98|10,000|10,000|
|30/05/2023|[BNP Paribas Securities ]|Buy on the Market|$ 7,547.73|16,059|16,059|
|Services|
|30/05/2023|[Citicorp Nominees Pty Limited]|Sell on the Market|$ 25,850.00|55,000|55,000|
|30/05/2023|[Northern Trust]|Buy on the Market|$|18,302.27|38,941|38,941|
|6/06/2023|[BNP Paribas Securities ]|Buy on the Market|$ 22,750.00|50,000|50,000|
|Services|
|6/06/2023|[HSBC]|Sell on the Market|$|22,750.00|50,000|50,000|
|15/06/2023|[BNP Paribas Securities ]|Sell on the Market|$ 83,141.70|182,729|182,729|
|Services|
|15/06/2023|[HSBC]|Sell on the Market|$ 264,345.45|580,979|580,979|
|15/06/2023|[Northern Trust]|Buy on the Market|$ 347,487.14|763,708|763,708|
|19/06/2023|[BNP Paribas Securities ]|Buy on the Market|$ 4,185.35|8,912|8,912|
|Services|
|19/06/2023|[HSBC]|Buy on the Market|$|8,943.19|19,043|19,043|
|19/06/2023|[Northern Trust]|Buy on the Market|$|12,935.99|27,545|27,545|

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20/06/2023 [BNP Paribas Securities ] Buy on the Market $ 4,237.62 9,192 9,192
Services
20/06/2023 [HSBC] Buy on the Market $ 9,055.18 19,642 19,642
20/06/2023 [Northern Trust] Buy on the Market $ 13,098.70 28,413 28,413
22/06/2023 [BNP Paribas Securities ] Buy on the Market $ 1,498.55 3,202 3,202
Services
22/06/2023 [HSBC] Buy on the Market $ 3,201.14 6,840 6,840
22/06/2023 [Northern Trust] Buy on the Market $ 4,630.42 9,894 9,894
23/06/2023 [BNP Paribas Securities ] Buy on the Market $ 1,087.21 2,408 2,408
Services
23/06/2023 [HSBC] Buy on the Market $ 2,323.87 5,147 5,147
23/06/2023 [Northern Trust] Buy on the Market $ 3,361.41 7,445 7,445
26/06/2023 [BNP Paribas Securities ] Buy on the Market $ 1,298.06 2,891 2,891
Services
26/06/2023 [BNP Paribas Securities ] Buy on the Market $ 330.62 736 736
Services
26/06/2023 [Citicorp Nominees Pty Limited] Sell on the Market $ 8,082.00 18,000 18,000
26/06/2023 [HSBC] Buy on the Market $ 270.87 603 603
26/06/2023 [HSBC] Buy on the Market $ 1,064.58 2,371 2,371
26/06/2023 [Northern Trust] Buy on the Market $ 5,719.36 12,738 12,738
26/06/2023 [Northern Trust] Buy on the Market $ 1,456.30 3,242 3,242
28/06/2023 [BNP Paribas Securities ] Buy on the Market $ 1,787.08 4,015 4,015
Services
28/06/2023 [HSBC] Buy on the Market $ 1,465.71 3,293 3,293
28/06/2023 [Northern Trust] Buy on the Market $ 7,874.67 17,692 17,692
7/07/2023 [HSBC] Sell on the Market $ 2,027.49 4,956 4,956
17/07/2023 [Citicorp Nominees Pty Limited] Sell on the Market $ 3,000.00 8,000 8,000
17/07/2023 [HSBC] Buy on the Market $ 3,000.00 8,000 8,000
18/07/2023 [HSBC] Buy on the Market $ 31,897.17 85,245 85,245
19/07/2023 [HSBC] Buy on the Market $ 7,651.64 20,581 20,581
26/07/2023 [HSBC] Buy on the Market $ 65,784.04 164,419 164,419
26/07/2023 [HSBC] Buy on the Market $ 36,839.71 92,079 92,079
26/07/2023 [HSBC] Sell on the Market $ 65,784.04 164,419 164,419
28/07/2023 [HSBC] Buy on the Market $ 41,746.37 101,798 101,798
31/07/2023 [HSBC] Buy on the Market $ 22,816.16 54,217 54,217
1/08/2023 [HSBC] Buy on the Market $ 30.67 73 73
25/08/2023 [Northern Trust] Buy on the Market $ 14,394.35 35,525 35,525
28/08/2023 [Northern Trust] Buy on the Market $ 6,651.04 16,294 16,294
29/08/2023 [HSBC] Buy on the Market $ 143,484.46 342,615 342,615
29/08/2023 [Northern Trust] Buy on the Market $ 750.48 1,792 1,792
30/08/2023 [HSBC] Buy on the Market $ 30,746.40 73,045 73,045
30/08/2023 [Northern Trust] Buy on the Market $ 160.79 382 382
31/08/2023 [HSBC] Buy on the Market $ 14,213.47 33,163 33,163
31/08/2023 [Northern Trust] Buy on the Market $ 74.14 173 173
1/09/2023 [HSBC] Buy on the Market $ 3,755.16 8,731 8,731
1/09/2023 [Northern Trust] Buy on the Market $ 19.78 46 46
18/09/2023 [BNP Paribas Securities ] Sell on the Market $ 256.56 658 658
Services
18/09/2023 [HSBC] Sell on the Market $ 1,594.75 4,090 4,090
19/09/2023 [BNP Paribas Securities ] Sell on the Market $ 52,913.91 135,816 135,816
Services
19/09/2023 [HSBC] Sell on the Market $ 328,894.09 844,184 844,184
19/09/2023 [Northern Trust] Buy on the Market $ 381,808.00 980,000 980,000
20/09/2023 [BNP Paribas Securities ] Buy on the Market $ 10,075.63 26,509 26,509
Services
20/09/2023 [HSBC] Buy on the Market $ 18,823.26 49,524 49,524
21/09/2023 [BNP Paribas Securities ] Buy on the Market $ 11,769.34 31,378 31,378
Services
21/09/2023 [HSBC] Buy on the Market $ 21,988.09 58,622 58,622
22/09/2023 [BNP Paribas Securities ] Buy on the Market $ 3,400.13 9,065 9,065
Services
22/09/2023 [HSBC] Buy on the Market $ 6,352.03 16,935 16,935
25/09/2023 [BNP Paribas Securities ] Buy on the Market $ 3,137.48 8,367 8,367
Services
25/09/2023 [HSBC] Buy on the Market $ 5,862.10 15,633 15,633
26/09/2023 [BNP Paribas Securities ] Buy on the Market $ 2,615.45 6,973 6,973
Services
26/09/2023 [HSBC] Buy on the Market $ 4,886.21 13,027 13,027
3/10/2023 [Citicorp Nominees Pty Limited] Sell on the Market $ 13,317.07 37,000 37,000
3/10/2023 [HSBC] Sell on the Market $ 17,994.86 50,000 50,000
27/10/2023 [Citicorp Nominees Pty Limited] Sell on the Market $ 703.35 2,100 2,100
27/10/2023 [Citicorp Nominees Pty Limited] Sell on the Market $ 7,035.00 21,000 21,000
27/10/2023 [HSBC] Buy on the Market $ 3,654.52 10,909 10,909
27/10/2023 [HSBC] Buy on the Market $ 3,380.49 10,091 10,091
30/10/2023 [Northern Trust] Buy on the Market $ 14,865.88 44,366 44,366
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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:

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|---|---|---|---|---|---|
|Holder of relevant interest|Registered holder of|Person entitled to be|Nature of relevant|Class & number of|Person's votes|
|securities|registered as holder (8)|interest (6)|securities (Ord)|
|Perennial Value Management|HSBC|HSBC|6,508,815|6,508,815|6,508,815|
|Limited|
|Perennial Value Management|10,538,114|10,538,114|10,538,114|
|Northern Trust|Northern Trust|
|Limited|
|Perennial Value Management|BNP Paribas Securities|2,400,967|2,400,967|2,400,967|
|BNP Paribas Securities Services|
|Limited|Services|
|Perennial Value Management|Citicorp Nominees Pty|6,064,248|6,064,248|6,064,248|
|Citicorp Nominees Pty Limited|
|Limited|Limited|

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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:

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|---|---|
|Name & ACN|Nature of association|
|Not applicable|

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6. Addresses

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

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|---|---|
|Name|Address|
|Perennial Value Management Ltd|Level 27, 88 Phillip St|
|Sydney NSW 2000|
|GTN Ltd|Level 42, Northpoint 100 Miller Street, North Sydney, Nsw|
|2060|

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|---|---|---|---|
|Signature|
|Print Name|Bill Anastasopoulos|Capacity|Company Secretary|
|Sign Here|Date|31/10/2023|

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