PPK GROUP LIMITED — Major Shareholding Notification 2010

Jul 19, 2010

Form 604

Notice of change of interests of substantial holder

To:	PPK Group Limited
	_______________________________________----------------	--------------------------------------
ACN/ARSN

$\mathbf{1}$ . Details of substantial holder (1)

Warakirri Asset Management Pty LtdName
ACN/ARSN	057 529 370
holder on	There was a change in the interests of the substantial$06 - J$ ulv $-2010$
	The previous notice was given to the company on	$23 - Jun - 2008$

$23 - Jun - 2008$ The previous notice was dated

Previous and present voting power $2.$

The total number of votes attached to all the voting shares in the company or voting 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 ofsecurities (4)	Previous Notice
	Person's Votes	Voting Power (5)	Person's Votes	Voting Power (5)
Ordinary Shares	8.361.133.	14.07%	7.348.913	12.67%

$3.$ 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 whoserelevant interestchanged	Nature of change (6)	↓ Considerationaiven inrelation tochange (7)	Class and number ofsecurities affected	Person's votesaffected
$30 - 06 - 10$	Warakirri Asset Mgmt	Sale	$409.949.10	1.012,220 ord shares	012,220.،

Present relevant interests 4.

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

Holder of relevantinterest	Registeredholder ofsecurities	Person entitled to beregistered as holder(8)	Nature of relevantinterest (6)	Class andnumber ofsecurities	Person's votes
Warakirri AssetManagement	ANZ NomineesLimited	Warakirri CharitableAustralian EquitiesTrustWarakirri CharitableSelect Equities Trust		5,898,353ordinary shares1,450,560ordinary shares	Warakirri AssetManagement7,348,913

Changes in association 5.

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:

NA

Addresses 6.

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

Name	Address
Warakirri Asset Management Pty Ltd	Level 3, 53 Queen St, Melbourne Vic 3000

$\mathcal{A}$ .

	Signature
--	------------------	--

CATHERINE SALIMON		Portfolio AnAlyst
Print name		Capacity
	Sign here Behm	Date	20 July 2010

CONOR HAVES $\rightarrow$ COMPANY SECRETARY

DIRECTIONS

• If there are a number of substantial holders with similar or related interests (eg. a corporation and its related corporations, or the $(1)$ manager and trustee of an equity trust), the names 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 4 of the form.
• See the definition of "associate" in section 9 of the Corporations Act 2001 $(2)$
• See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001. $(3)$
• The voting shares of a company constitute one class unless divided into separate classes. $(4)$
• The person's votes divided by the total votes in the body corporate or scheme multiplied by 100 $(5)$
• Include details of: $(6)$
  • any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection $(a)$ 671B(4) applies, a copy of any document setting out the terms of any 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
  • any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers $(b)$ or disposal of the securities to which the relevant interests 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.

• Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was $(7)$ 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.
• If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) $(8)$ write unknown.
• Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice. $(9)$