PRO-PAC PACKAGING LIMITED — Major Shareholding Notification 2017

Nov 27, 2017

page 1/2 15 July 2001

604

Form 605 Corporations Act 2001

Section 671B

Notice of ceasing to be a substantial holder

To Company Name/Scheme	Pro-Pac Packaging Limited
ACN/ARSN	112 971 8744
1. Details of substantial holder (1)
Name		Brandon Ari Penn, Wendy Penn, and Brandon Ari Penn and Wendy Penn as trustees for the Caritasha DiscretionaryTrust (together, Penn Entities)
ACN/ARSN (if applicable)
The holder ceased to be a
substantial holder onThe previous notice was given to the company onThe previous notice was dated		06/11/201720/06/201220/06/2012

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 ofchange	Person whoserelevant interestchanged	Nature ofchange (4)	Considerationgiven in relationto change (5)	Class (6) andnumber ofsecuritiesaffected	Person's votesaffected
	06/11/2017	Penn Entities	Dilution due to non-renounceable rightslissue conducted bythe Company and$\frac{1}{2}$ lissue of shares by the $N/A$Company as partconsideration for anacquisition		$24,958,817$ ordinary $ 4.45%$Ishares
机生物	20/05/2014	Penn Entities	Itssue of securitieslunder the DividendReinvestment Plan	$244,388.25	$24,958,817$ ordinary $ _{11.54%}$Ishares

3. Changes in association

$k \rightarrow 1$ $\mathbb{C}_4$

$e^{\frac{1}{2}x} = 1.54$ $\mathcal{L}^{\pm}$ .

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)_______________________________________	---------associationNature of-----
'N/A.________	-------_

4. Addresses

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

$\sim$

$\ddot{\phantom{0}}$

Name	_______________________________________-------	Address
Penn Entities		97 Union Street, McMahons Point NSW 2060--------
		--------

Signature

print name Brandon Ari Penn

28 $1/11201$ date

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 the dealing the second 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 membe is clearly set out in paragraph 4 of the form.
• See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001. $(2)$
• $(3)$ See the definition of "associate" in section 9 of the Corporations Act 2001.
• $(4)$ Include details of:
  • any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy $(a)$ 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
  • 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 $(b)$ 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.

• Details of the consideration must include any and all benefits, moneys and other, that any person from whom a relevant interest was acquired has, or $(5)$ 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.
• $(6)$ The voting shares of a company constitute one class unless divided into separate classes.
• $(7)$ Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.