RAREX LIMITED — Major Shareholding Notification 2016

May 18, 2016

605 page 1/2 15 July 2001

Form 605
	Corporations Act 2001 Section 671B
	Notice of ceasing to be a substantial holder
To Company Name/Scheme	CLANCY EXPLORATION LIMITED
ACN/ARSN	10557875
1. Details of substantial holder(1)
Name ACN/ARSN (if applicable)	$P\Gamma$ MACQUARIE HOLDINGS NO. 2 CTD 168
The holder ceased to be a substantial holder on	5/2016
The previous notice was given to the company on The previous notice was dated	16/2015 20.5

1. 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

Date of change	Person whose relevant interest changed	Nature of change $(4)$	Consideration given in relation to change $(5)$	Class (6) and number of securities affected	Person's votes affected
61512016	MACRYACIE HOLDING DILUTION FROM		N/A	ORD	O(D)
	$N_0.2$ $P77$ $L70$	RIGHTS OFFICE		50,00000	50,000,000

3. Changes in association

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)	Nature of association

4. Addresses

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

Name	Address
AM $N\mathcal{O}$ CQUA LDM6J	$\sim$
$\sim$	6 o いいしし

Signature

print name	ALL 44	IRECTOR capacity
sign here		2016 date