L1 GROUP LIMITED — Major Shareholding Notification 2015

May 21, 2015

FACSIMILE COVER PAGE

To:	Company Announcements	From:	Elîzabeth Norman
Fax:	1300 135 638	Fax#:	+61 2 9264 5590
Company:	ASX	Tel #.	+61 2 9255 7576

Subject:	Substantial Shareholding Disclosure
Sent:	22 May 2015	Pages:	4 (including cover)
Email:	compliance@platinum.com.au	Website:	www.platingm.com.au

Please find altached the reporting form required under Corporations Act 2001 Section 6718.

I would be grafeful if you could confirm receipt to my email address: compliance@platinum.com.au

Kind regards

Eäzabeth Norman Platinum Investment Management Limited Level 8, 7 Macquarie Place, Sydney, NSW 2000

Pfathum Investment Management Limited ABN 25 063 565 006 AFSL 221935 trading as Platinum Asset Management ("Platinum")

This facsimile is intended solety for the named addressee(s) and may contain confidential or privileged information. If you are
not the intended addressea(s), any use, disclosure or copying of the information contained in

Any personal information in this facsimile must be handled in accordance with the Privacy Act 1988 (Cth).

Platinum is a member of the Platinum Group of companies.

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22 May 2015

The Manager ASX Market Announcements Australian Securities Exchange Limited Sydney NSW 2000

By e-Lodgement

Platinum Asset Management Limited (ASX: PTM) notice of change of interest of substantial shareholder

Please find attached a completed and signed notice of change of interest of substantial shareholder in Platinum Asset Management Limited ("PTM" or "Company").

Ten million ordinary shares in PTM were sold today by a substantial shareholder, Judith Neilson.

There is no intention for Judith Neflson, Kerr Neilson and associated parties to sell any further shares in PTM in the foreseeable future.

It is the intention for Judith Neilson, Kerr Neilson and associated parties to maintain their controlling position in the Company.

Elizabeth Norman Director

Level 8, 7 Macquarie Place, Sydney NSW 2000, Australia | CPO Box 2724, Sydney NSW 2001 Telsphone 61 2 9355 7500 | Investor Services 1900 726 700 | Facsimile 61 2 925 4 5580 | Email investigatation company | Website were platition company

Platinush Investment Management Limited ABN 25 063 565 006 AFSL 221935 trading as Platinum Asset Management

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	Form 604 Corporations Act 2006 Section 671B
	Notice of change of interests of substantial holder
10. Company Marie Scheme	PLATINUM ASSET MANAGEMENT LIMITED
ACWARSM	ACN 050 064 287
1. Details of substantial holder(1)
Name.	JUDITH PATRICIA LYDIA NEILSON
ACN/ARSN (il applicable)	M/A
There was a change in the interests of the substantial brider on	22/05/2015
The previous notice was given to the company on The previous notice was pated	23/04/2015 23 / D4 / 2015

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1. Premious and present voting power

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The folal number of vones assumed to all the moting starts in the company or writing interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3)
is when last required, and when now

Class of separities [4]	Previous rative		Present sotice
	Person's votes	Voltion power (5)	Person's votes	Voing power [5]
ORDINARY	322.074.841	55.568	312 074 B41	53.241

3. Charges in relevant interests

faticulas of can charge in, or charge in the name of, a relevant interest of the substantial holder or an associate in voling securities of the company or scheme, since the
substancial holder was last required to give a su

Date of change .	Ferson whose relaram interest. chonoed	Nature of change (B-	Consideration given in relation to change Oli	Class and number of socurities offector.	Person's votes arrected
21/05/2015	kerr mellson JUDITH REILSON	DITCHES IN HOMER OF STREET CR 155UE	mь	CROTHARY [322,074,842]	322,074,841
22/05/2015	KERR NEILSON JUDITH NEILSON	SNLB	\$13.000.000.00	DROTHARY 10.000.000	10,000,000

4. Present relevant interests

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

Holder of relevant in prest	Ropistered belder of segurities.	Person entitled to be registered. as holder ATI.	Haune of relevant. interest bill	Class and number of securities	Person's youes
NORE PRELIGNS	JUDETH PATRECTA LYDEA RELEAN	JUDITE PATRICIA 3801A TANER URDEA SECTION METSSINE	l sie (2) (1).	COLUMN 312,076,661	112,074,067

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5. Changes in association

The necessis who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (0) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

$ -$ Name and ACN/ARSM (if applicable)	. . ----- $\cdots$ ___ Nature of association .
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6 Addresses

The addresses of nersnot ramed in this form are as follows:

Name.	Address
J MEILSON	29 HISDLE ST MONARONS POINT NSW 2060
K NEILSON	29 NIDDLE ST MONARONS POINT NSW 2060 ---

Signature

	print name ELIZABETH NORFIAN	capacity COMPANY DIRSCTOR
sign here	Elgebeth Norman	date 22 $I$ 05 $I$ 2015

DIRECTIONS

• It there are a runder of substantial holders with similar orrelated referant interests (eg. a corporation and fis related corporations, or the marager and trustee of an $\omega$ equity itsl), the names could be included in an aoneourc volte form. If the relevant increases of a group of pass or are essentially similar, they may be releared to throughout the Youn as a specifically named group if the membership of each group, with the names and adaresses of numbers is clearly set out in paragraph 6 of the form.
• ø See the definition of "associate" in section 9 of the Corporations Act 2001.
• See the definition of "relevant interest" in sections 608 and 6718(7) of the Corporations Act 2001 ß.
• N. The voting shares of a company constitute one class unless divided into separate classes.
• M The person's rotes divided by the total votes in the body corporate or scheare multiplies by 100.
• œ. Include details of:
• any relevant agreement or other coconstances because of which the change in relevant interest occurred. It subsection 6718(4) applies, a copy of any Ò. document setting out the terms of any relevent ogererment, and a statement by the person giving full and accusate details of acycominact, scheme or augugement, risst accompany fuls form, logether with a written statement certifying this contract, science or arrangement; and
• any sublication of the power of a person to exercise, control the exercise of, or influence the excedits of controlled of the securities to
  which the relevant interest relates indicating deally the perticular securities to Ò.

See the definition of "releasor, agreement" in section 9 of the Corporations Act 2001.

• R. Details of the consideration must include any ond all benefits, money and other, that any persoariom whom a relevant interest was acquired has, or may, become entitled foreceive in relation to that acquisition. Details rurst 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 in the person trom whom Ro refevant interest was acquired.
• $\mathbf{B}$ If the substantial holder is unable to determine the identity of the gerson (eg. if the relevont interest arises because of an option) write "unknown".
• Ø) Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

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