IONIC RARE EARTHS LIMITED — Major Shareholding Notification 2009

Feb 8, 2009

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/ Scheme

EZENET LIMITED

ACN/ARSN

083 646 477

1. Details of substantial holder (1)

Name

DR WOLF GERHARD MARTINICK

ACN/ARSN (if applicable)

There was a change in the interests of the substantial holder on The previous notice was given to the company on The previous notice was dated

13 January 2009 15 December 2006 15 December 2006

2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or 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	Previous notice	Present notice	Present notice
	Person’s votes	Voting power (5)	Person’s votes	Voting power (5)
ORDINARY SHARES	13,986,140	16.65%	15,086,140	17.96%

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
19/09/07	WOLF GERHARD MARTINICK	PURCHASE OF SHARES	$14,780.04	100,000 FULLY PAID ORDINARY SHARES	100,000
15/12/08	WOLF GERHARD MARTINICK	PURCHASE OF SHARES	$12,652.88	500,000 FULLY PAID ORDINARY SHARES	500,000
13/01/09	WOLF GERHARD MARTINICK	PURCHASE OF SHARES	$9,021.90	500,000 FULLY PAID ORDINARY SHARES	500,000

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

2

		2
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
WOLF GERHARD MARTINICK	WOLF GERHARD MARTINICK	WOLF GERHARD MARTINICK	HOLDER	13,353,266 ORDINARY SHARES	13,353,266
WOLF GERHARD MARTINICK	MARTINICK INVESTMENTS P/L ATF THE MARTINICK SUPERANNUATION FUND	MARTINICK INVESTMENTS P/L ATF THE MARTINICK SUPERANNUATION FUND	HOLDER / ASSOCIATE	1,732,874 ORDINARY SHARES	1,732,874

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:

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

6. Addresses

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

Name	Address
DR WOLF GERHARD MARTINICK	60 JUTLAND PARADE, DALKEITH, WA 6009

Signature

print name	WOLF G MARTINICK	capacity	Registered Holder
sign here		date	15 / January / 2009

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 name 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 6 of the form.

• (2) See the definition of “associate” in section 9 of the Corporation Act 2001.

• (3) See the definition of “relevant interest” in section 608 and 671B(7) of the Corporation Act 2001.

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

• (5) The person’s votes divided by the total votes in the body corporate or scheme multiplied by 100. (6) 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 contact, scheme or arrangement, must accompany this form, together with a written statement certifying this contact, 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).

• (7) 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.

• (8) If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write “unknown”.

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