MCS SERVICES LIMITED — Major Shareholding Notification 2014

Nov 23, 2014

604 page 1/2 15 July 2001

Form 604

Corporations Act 2001 Section 6718

Notice of change of interests of substantia l holder

To Company Name/Scheme Red Gum Resources Limited ACN/ARSN

119 641 956

1. Details of substantial holder(l)

Name Willowdale Holdings Pty Ltd ("WHPL") ACN/ARSN (if applicable)

There was a change in the interests or the substantial holder on 21 / 11 / 20 14 The previous notice was given to the company on 25 / 0 9/ 2 014 The previous notice was dated 24 109 t 2014

2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substant ial holder or an associate (2) had a relevant interest (3) inwhen last required. and when now required.to give a substantial holding notice to the company or scheme. are as follows:

Class of securities(4)	Previousnotice		Presentnotice
	Person'svotes	Votinqoower(5	Person'svotes	Votinooower(5)
Fully PaidShares	70 , 000,00 0	8 . 4%	100, 000, 000	12 .02%

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	Personwhose	Natureof	Consideration	Classand	Person's votes
change	relevantinterest	change(6)	giveninrelation	numberof	affected
	changed		tochange(7)	securities
				affected
21/ 09/14	WHPL	Direct Holding	$12 0,000	30,000 , 00C	30 , 000 , 000

4. Present relevant interests

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

Holderof	Registered	Personentitled	Natureof	Class and	Person's votes
relevant	holderof	toberegistered	relevant	number of
interest	securities	as holder(8)	interest(6)	securities

604 page 2/2 15 July 2001

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 inrelation to voting interests in the company or scheme are as follows:

==> picture [500 x 201] intentionally omitted <==

----- Start of picture text ----- Name and ACN/ARSN (if applicable) Nature of association6. AddressesThe addresses of persons named in this form are as follows:Name AddressWHPL 16 St Georges Terrace Perth 6000Signatureprint name : capacity Authorised Representativesign here date 2 4 I 11 I 2 o 14----- End of picture text -----

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. Ifthe 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 inparagraph 6 of the form.

• (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 6718(7) of the Corporations Act 2001.

• (4) The voting shares of a company constitute 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 circumstanc es because of which the change in relevant interest occurred. If subsection 6718(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 (bl 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.

(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, becom·e 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 includedof any benefit paid on behalf of the substantialholder 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 substantialholder 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 substantialholding notice.