OPENLEARNING LIMITED — Major Shareholding Notification 2020

Jan 16, 2020

Form 605

Corporations Act 2001

Section 671B

Notice of ceasing to be a substantial holder

To Company Name/Scheme	Open Learning Ltd (OLL)
ACN/ARSN	635 890 390
1. Details of substantial holder (1)
Name	Regal Funds Management Pty Ltd (RFM)
ACN/ARSN (if applicable)	107 576 821
The holder ceased to be a substantial holder on	15/01/2020
The previous notice was given to the company on	16/01/2020
The previous notice was dated	14/01/2020

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	Person whose relevant	[Nature of change (4)]	Consideration given in relation to	Class (6) and number of	Person's votes
change	interest changed		change(5)	securities affected	affected
	Refer annexure 1

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
NOT APPLICABLE

4. Addresses

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

Name	Address
PHILIP KING	LEVEL 47 GATEWAY 1 MACQUARIE PLACE SYDNEY NSW 2000

Signature

print name	Philip King	capacity	Director
sign here	In.	date	17/01/2020

Annexure 1

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Changes in relevant interests

Date	Person whose relevant interest changed	Nature of Change	Consideration given in relation to change	Number of securities affected	Class of securities	Persons votes affected
15/01/2020	Regal Funds Management	Sell	87667.18	281255	Ordinary	281255
15/01/2020	Regal Funds Management	Sell	31029.41	90942	Ordinary	90942
15/01/2020	Regal Funds Management	Sell	233372.60	686390	Ordinary	686390

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