Quest for Growth NV — Major Shareholding Notification 2012

Jan 12, 2012

Regulated information. This press release contains information subject to the transparency requirements imposed on listed companies.

Press release Leuven / 12 January 2012 / 5.40 PM

Schedule for publication on 12 January 2012: 5.40 PM press release available at www.questforgrowth.com

QUEST FOR GROWTH

Privak, fixed capital investment company established under Belgian Law

Notification of major holdings according to the requirements of the Law of 2 May 2007

For further information: QUEST MANAGEMENT NV

Mr. Marc Pauwels – Fund Administrator Phone: +32 (0)16 28 41 28 Fax: +32 (0)16 28 41 29 Or: quest@questforgrowth.com

On 11 January 2012 Quest for Growth NV received a notification from Laxey Partners Ltd., from which appears that since 10 January 2012 Laxey Partners Ltd. no longer holds voting securities or voting rights in Quest for Growth.

On 11 January 2012 Quest for Growth NV also received a notification from the Financial & Investment Management Group, Ltd., from which appears that the Financial & Investment Management Group, Ltd. crossed the threshold of 10% voting rights on 10 January 2012 and held 14.08% voting securities of voting rights on that day.

You will find these notifications attached to this press release.

Notifications of major holdings according to the requirements of the Law of 2 May 2007 can be sent to mpauwels@questforgrowth.com

This notification is published on www.questforgrowth.com in the section "Shareholders info".

www.questforgrowth.com quest@questforgrowth.com

Press release Leuven / 12 January 2012 / 5.40 PM

According to the obligation imposed by article 14 of the Law of 2 May 2007 regarding the notification of major holdings in quoted companies, Quest for Growth publishes the content of the following notification received:

• 1. Date of the notification: 11 January 2012
• 1. Date on which the threshold is crossed: 10 January 2012
• 1. Reason for the notification: Acquisition or disposal of the control of an undertaking that holds a participating interest in an issuer; Downward crossing of the lowest threshold
• 1. Threshold that is crossed: 5 %
• 1. Notification by (a person that notifies alone):

6. Denominator: 11,529,950

7. Voting rights and equivalent financial instruments:

A) Voting rights	Previous notification	After the transaction
	# voting rights	# voting rights		% voting rights
Holders of voting rights		Linked to securities	Not linked to the securities	Linked to securities	Not linked to the securities
Laxey Partners Ltd.	1.162.349	0	0	0.00%	0.00%
TOTAL		0	0	0.00%	0.00%

1. Chain of controlled undertakings through which the holding is effectively held:

9. Additional information:

Laxey Partners Limited is the investment manager of a number of different Laxey funds owning Quest for Growth shares and as manager, Laxey Partners Limited controls the discretionary voting rights on the shares (cfr. Artikel 9 § 2 of the Roayl Decree dated 14 Februari 2008).

QUEST FOR GROWTH NV Privak, fixed capital investment company established under Belgian Law Lei 19, box 3 B-3000 Leuven - Phone: +32 (0)16 28 41 28 - Fax: +32 (0)16 28 41 29

www.questforgrowth.com quest@questforgrowth.com

Press release Leuven / 12 January 2012 / 5.40 PM

According to the obligation imposed by article 14 of the Law of 2 May 2007 regarding the notification of major holdings in quoted companies, Quest for Growth publishes the content of the following notification received:

• 1. Date of the notification: 11 January 2012
• 1. Date on which the threshold is crossed: 10 January 2012
• 1. Reason for the notification: Acquisition or disposal of the control of voting securities or voting rights
• 1. Threshold that is crossed: 10%
• 1. Notification by (a person that acquires voting rights within the meaning of Article 7 of the Law and that notifies together with the person that disposes of these voting rights):

Financial & Investment Management Group, Ltd.	111 Cass Street, Traverse City, Michigan 49684, USA
-----------------------------------------------	-----------------------------------------------------

• 1. Denominator: 11,529,950
• 1. Voting rights and equivalent financial instruments:

A) Voting rights	Previous notification	After the transaction
	# voting rights	# voting rights		% voting rights
Holders of voting rights		Linked to securities	Not linked to the securities	Linked to securities	Not linked to the securities
Financial & Investment Management Group, Ltd.	584,614	1,622,991	0	14.08%	0.00%
TOTAL		1,622,991	0	14.08%	0.00%

• 1. Chain of controlled undertakings through which the holding is effectively held:
• 1. Additional information:

All shares are held by FIM Group clients with beneficial ownership in their name. FIM Group is the investment advisor of record for these accounts and has proxy voting authority for these accounts.

QUEST FOR GROWTH NV Privak, fixed capital investment company established under Belgian Law Lei 19, box 3 B-3000 Leuven - Phone: +32 (0)16 28 41 28 - Fax: +32 (0)16 28 41 29

www.questforgrowth.com quest@questforgrowth.com