IMAGE RESOURCES NL — Major Shareholding Notification 2018

May 8, 2018

Form 603

Corporations Act 2001 Section 671B

Notice of initial substantial holder

To Company Name/Scheme	Images Resources NL
ACN/ARSN	063 977 579
1. Details of substantial holder (1) Name ACN / ARSN (if applicable)	Li Huang Cheng and Vestpro International Limited N/A
The holder became a substantial holder on	28 / 03 / 2018

2. Details 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 became a substantial holder are as follows:

Class of securities (4)	Number of securities	Persons' votes (5)	Voting power (6)
Fully Paid Ordinary Shares	131,936,921	131,936,921	15.32%

3. Details of relevant interests

$\bullet$

The nature of the relevant interest the substantial holder or an associate had in the following 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
Li Huang Cheng	Pursuant to Section 608 of the Corporation Act 2001	131,936,921 Fully Paid Ordinary Shares
Vestpro International Limited	Shareholder	131,936,921 Fully Paid Ordinary Shares

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

Holder Οf relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Class and οf number securities
Li Huang Cheng	Vestpro International Limited	Vestpro International Limited	131,936,921 Fully Paid Ordinary Shares
Vestpro International Limited	Vestpro International Limited	Vestpro International Limited	131,936,921 Fully Paid Ordinary Shares

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)	Class and number of securities
		Cash	Non-cash
Vestpro International Limited	28/03/2018	\$13,193,692.10		131,936,921 Fully Paid Ordinary Shares

$\bullet$

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

Name and ACN/ARSN (if applicable)	Nature of association
Vestpro International Limited	1 Director of Vestpro International Limited

7. Addresses

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

Name	Address
Li Huang Cheng	9F/No. 12, Aly. 3, Ln. 53, Sec. 4, Najing E. Rd, Taipei City,
Vestpro International Limited	Republic of China Flat/RM 6-8, Haleson Building, 1 Jubilee Street, Central, Hong
	Kong

Signature

	orgnature
				print name Li Huang Chengcapacity Individual and Director
		sign here				date28 / 03 / 2018
					DIRECTIONS
(1)		of the form.				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 7
(2)				See the definition of "associate" in section 9 of the Corporations Act 2001.
(3)						See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations A.
(4)						The voting shares of a company constitute one class unless divided into separate classes.
(5)			person or an associate has a relevant interest in.			The total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the
(6)						The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.
(7)		Include details of:
	(a)			statement certifying this contract, scheme or arrangement; and		any relevant agreement or other circumstances by which the relevant interest was acquired. 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
	(b)	which the qualification applies).				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
				See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.
(8)		option) write "unknown".				If the substantial holder is unable to determine the identity of the person (eg. If the relevant interest arises because of an
(9)			whom the relevant interest was acquired.			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