PACIFIC CURRENT GROUP LIMITED — Director's Dealing 2018

Dec 4, 2018

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity Pacific Current Group Limited (“PAC”)

ABN 39 006 708 792

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Paul Greenwood
Date of last notice	6 December 2017

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	Direct
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.
Date of change	30 November 2018
No. of securities held prior to change	531,781 ordinary shares 1,000,000 performance rights issued on or before5October 2017
Class	Performance rights
Number acquired	No more than 2,500,000 performance rights (on the basis that 1 performance right represents an entitlement to 1 fully paid ordinary share in PAC)
Number disposed	Nil
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	No cash consideration was provided for the performance rights. They were issued pursuant to Mr Greenwood’s revised employment contract.

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

The performance rights are subject to a
number of vesting conditions.
While it is impossible to say how many
ordinary shares in PAC that Mr
Greenwood may become entitled to
acquire, it will be no more than 2,500,000
ordinary shares. The performance rights
are divided into 2 equal tranches, with the
assessment period of the performance
conditions of the first tranche ending on
30 June 2021, and the second tranche
ending on 30 June 2022.
PAC may elect to pay to Mr Greenwood a
cash equivalent amount instead of issuing
or arranging to transfer all or any shares
to him following vesting of the
performance rights. This amount is
calculated by multiplying the number of
vested shares by:
(a) in the case of the first tranche, the
30 trading day volume weighted
average price of a PAC ordinary
share ending on 30 June 2021; and
(b) in the case of the second trance, the
30 trading day volume weighted
average price of a PAC ordinary
share ending on 30 June 2022.
The value attributable to the performance
rights, therefore, depends on a number of
factors including the likelihood of
satisfaction of all or any of the
performance conditions, the number of
underlying ordinary shares in PAC that
Mr Greenwood may become entitled to
acquire, the value of those shares at the
time they are acquired by Mr Greenwood
or the cash equivalent amount that PAC
may elect to pay him instead.
A more detailed explanation of the
performance rights is set out in the notice
of annual general meeting dated 26
October 2018.

• See chapter 19 for defined terms. Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

No. of securities held after change	531,781 ordinary shares 1,000,000 performance rights issued on or before 5 October 2017 No more than 2,500,000 performance rights issued on 30 November 2018 (on the basis that 1 performance right represents an entitlement to 1 fully paid ordinaryshare in PAC)
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Issue of performance rights under Mr Greenwood’s revised employment agreement as part of his remuneration in connection with his appointment as managing director and chief executive officer of PAC, in addition to his ongoing engagement as a director and PAC’s chief investment officer which were approved by shareholder at PAC’s annual general meetingheld on30 November 2018.

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract	Not applicable
Nature of interest
Name of registered holder (if issued securities)
Date of change
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed
Interest acquired
Interest disposed
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation
Interest after change

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Part 3 –[+] Closed period

Part 3 –+Closed period
Were the interests in the securities or contracts detailed above traded during a+closed period where prior written clearance was required?	Not applicable
If so, was prior written clearance provided to allow the trade to proceed during this period?
If prior written clearance was provided, on what date was this provided?

• See chapter 19 for defined terms.

Appendix 3Y Page 4

01/01/2011