IMAGE RESOURCES NL — Major Shareholding Notification 2012

Nov 11, 2012

605 GUIDE Page 1/1 13 March 2000

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Form 605

Corporations Act 2001 Section 671B

Notice of ceasing to be a substantial holder

To	Company Name/Scheme	Image Resources NL
ACN/ARSN		063 977 579
	1. Details of substantial holder (1)
Name		Cairnglen Investments Pty Ltd (Cairnglen)
ACN/ARSN (if applicable)		006 643 769
	The holder ceased to be a substantial holder on	12 November 2012
	The previous notice was given to the company on	7 November 2012
The previous notice was dated		7 November 2012

2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3) in voting securities of the company or scheme, since the substantial holder was last required

Date of change	Person whose relevant interest changed	Nature of change $(4)$	Consideration given in relation to change $(5)$	Class (6) and number of securities affected	Person's votes affected
$07/11/12 -$ 12/11/12	Cairnglen	Various on-market sales		Ordinary (1,100,000)	(1,100,000)

3. Changes In association

The persons who have become associates (3) of, ceased to be associates of, or have changed the nature of their association (7) with, the substantial holder in relation to voting interests in the company or scheme are as fo

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

4. Addresses

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

Name		Address
Cairnglen				Level 3, 15 Queen Street, Melbourne.
Signature
print name	Peter John Woodford		capacity	Director		$\sim$
sign here		There J. Woodpard	Date	12/11/12

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