PRO-PAC PACKAGING LIMITED — Major Shareholding Notification 2017

Nov 22, 2017

Form 604 Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme	PRO-PAC PACKAGING LIMITED (PPG)
ACN/ARSN	112 971 874
1. Details of substantial holder (1)
Name	Bennamon Pty Ltd
ACN/ARSN (if applicable)	126 160 852
There was a change in the interests of the
substantial holder on	06/11/2017

The previous notice was given to the company on	27/06/2013
The previous notice was dated	27/06/2013---------------------------------------

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 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 of secur	'revious'notice.		.notice--------------------------------------
rities._______________________________________	Person'svotes	oting۱ъ., power---------------________________	votes'erson′s	power:Inc_______________________________________
lOrdinar	.006.266.	.09%the contract of the contract of the contract of the contract of the contract of the contract of the contract of	. U I A________________.	75%ີລຂ

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 ofchange	Person whoserelevantinterestchanged	Nature ofchange $(6)$	Considerationgiven inrelationto change (7)	Class andnumber ofsecuritiesaffected	Person's votesaffected
20/05/2014	Bennamon Pty Ltd	Shares allocated pursuant to PPG DRP	$0.47 per share	Ordinary 2,298,006	2.298.006
20/05/2015	Bennamon Pty Ltd	Shares allocated pursuant to PPG DRP	$0.48 per share	Ordinary 2,298,005	2,298,005
24/09/2015	Bennamon Pty Ltd	Shares allocated pursuant to PPG DRP	$0.416 per share	Ordinary 4,060,179	4.060.179
19/05/2016	Bennamon Pty Ltd	Shares allocated pursuant to PPG DRP	$0.413 per share	Ordinary 3,530,946	13.530.946
22/09/2016	Bennamon Pty Ltd	Shares allocated pursuant to PPG DRP	$0.501 per share	Ordinary 3,598,605	3,598,605
106/11/2017	Bennamon Pty Ltd	Subscription for new shares pursuant tothe 2:3 pro rata non-renounceable rightslissue undertaken by PPG	$28,059,521.70	Ordinary 82,528,005	82,528,005

4. Present relevant interests

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

Holder ofrelevantinterest	Registeredholder ofsecurities	Person entitledto be registeredas holder (8)	Nature ofrelevantinterest (6)	Class andnumber ofsecurities	Person's votes
Bennamon Pty Ltd	Bennamon Ptv Ltd	Bennamon Ptv Ltd	Direct Holding	Ordinary 206,320,012	206,320,012

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

11.1anıName.--וו_______________________________________	чог._____________________
Inia..	_______________________________________'N/A-------------------------------------------------------------------------------------..

6. Addresses

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

Name.	.--------------------------------------
lBennamon Ptv Ltd	----------.Level 16, 644 Chapel Street, South Yarra VIC 3141-----------------------------------------------------------------------------_______________________________________
	.

Signature

print name	Nichouss PoseerNS		capacity Company Langey
sign here		date	- 23 / 11 / 17

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. 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 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 671B(7) of the Corporations Act 2001.
• The voting shares of a company constitute one class unless divided into separate classes. $(4)$
• $(5)$ 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 circumstances because of which the change in relevant interest occurred. If subsection 671B(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
  • $(b)$ 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, 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 on any benefit paid on
• $(8)$ If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write "unknown".
• Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice. $(9)$