IMAGE RESOURCES NL — Major Shareholding Notification 2018

Jun 20, 2018

605 Page 1 of 2 15 July 2001

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 Image Resources NL ( Image )

ACN/ARSN (if applicable) 063 977 579

The holder ceased to be a substantial holder on 21 / 05/ 2018

The previous notice was given to the company on 09 / 05/ 2018

The previous notice was dated 09 / 05/ 2018

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 to give a substantial holding notice to the company or scheme are as follows:

Date of change	Person whoserelevantinterestchanged	Nature of change (4)	Considerationgiven inrelation tochange (5)	Class (6) andnumber ofsecurities affected	Person's votesaffected
21/05/2018	Image	Relevant interest under section 608(1)(b) and (c) ofthe Corporations Act 2001 (Cth) ceased on 21 May2018 as Image no longer has the capacity toexercise negative control over the disposal of, andthe right to vote attaching to, shares issued toMurray Zircon Pty Ltd in certain circumstances as aresult of voluntary escrow and other restrictionscontained in the Share Consideration Deed asattached to the Form 603 for Image dated 8 June2016. The restriction period under the ShareConsideration Deed ended on 21 May 2018.	N/A	156,703,542ordinary shares	156,703,542

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 follows:

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

4. Addresses

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

Name	Address
Image Resources NL	Ground Floor, 23 Ventnor Avenue, West Perth WA 6005

Signature

e
print namesign here	Dennis WilkinscapacityCompany Secretary
	date21/06/2018

605 Page 2 of 2 15 July 2001

DIRECTIONS

• (1) If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 4 of the form.

• (2) See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.

• (3) See the definition of "associate" in section 9 of the Corporations Act 2001.

• (4) Include details of:

  • (a) any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and

  • (b) any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

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

• (5) Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.

• (6) The voting shares of a company constitute one class unless divided into separate classes.

• (7) Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.