READCLOUD LIMITED — Major Shareholding Notification 2018

Feb 6, 2018

THORNEY TECHNOLOGIES LTD

ABN: 66 096 782 188

CROSS RELEASE ASX: RCL

7 February 2018

BY ASX ONLINE - 4 pages

Manager Company Announcements ASX Limited Level 10 20 Bond Street SYDNEY NSW 2000

Dear Sir/Madam,

Notice of initial of substantial holder ReadCloud Limited [ASX:RCL]

Following is a Form 603 Notice of initial substantial holder dated 7 February 2018 in accordance with section 671B of the Corporations Act 2001.

Yours sincerely,

CRAIG SMITH ACIS, CPA Secretary

Form 603

Corporations Act 2001

Section 671B

Notice of initial substantial holder

To:	company name/scheme	READCLOUDLIMITED
	ABN:	44 136 815 891

1. Details of substantial holder

Name	Thorney TechnologiesLtdand each of the entitieslisted in the attached Annexure 'A'to this notice.
ACN (if applicable)	096782188

The holder became a substantial holder on 7-Feb-18

2. Details of 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 had a relevant interest in on the date the substantial holder became of substantial holder are as follows:

Class of Securities	Number ofsecurities	Person's votes	Voting power
Ordinary shares	10,750,000	10,750,000	13.44%

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

Holder of relevant interest	Nature of relevant interest	Class and number ofsecurities
Thorney Technologies Ltd	Beneficial owner of voting shares	5,000,000 ordinary shares
Associates:
Jasforce Pty Ltd	Beneficial owner of voting shares	250,000 ordinary shares
TIGA Trading Pty Ltd	Beneficial owner of voting shares	5,000,000 ordinary shares
	Beneficial owner of voting shares	5,000,000 ordinary shares
Thorney Investment Group	Deemed relevant interest in shares heldby Thorney Technologies Ltd by virtue ofsection 608(3)(b) of the Corporations Act2001	5,000,000 ordinary shares
Urban Land Nominees Pty Ltd	Beneficial owner of voting shares	250,000 ordinary share
Coastal Estates Pty Ltd	Beneficial owner of voting shares	250,000 ordinary share

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

Holder of relevant	Registered holder of	Person entitled to be	Class and number of
interest	securities	registered as holder	securities
Thorney Technologies	HSBC Custody Nominees	Thorney Technologies	5,000,000 ordinary shares
Ltd	(Australia) Ltd	Ltd
Thorney InvestmentGroup	UBS Nominees Pty Ltd	Tiga Trading Pty Ltd	5,000,000 ordinary shares
Jasforce Pty Ltd	Jasforce Pty Ltd	Jasforce Pty Ltd	250,000 ordinary shares
Urban Land Nominees	Urban Land Nominees Pty	Urban Land Nominees	250,000 ordinary shares
Pty Ltd	Ltd	Pty Ltd
Coastal Estates PtyLtd	Coastal Estates Pty Ltd	Coastal Estates PtyLtd	250,000 ordinary shares

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Holder of relevant interest	Date ofacquisition	Cash consideration	Class and number ofsecurities
Thorney Technologies Ltd		Placement @ 20 cents	5,000,000 ordinary shares
TIGA Trading Pty Ltd			5,000,000 ordinary shares
Jasforce Pty Ltd	7-Feb-18		250,000 ordinary shares
Urban Land Nominees Pty Ltd			250,000 ordinary shares
Coastal Estates Pty Ltd			250,000 ordinary shares

6. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

Name	Nature of association
Refer associated entities detailsin Annexure A	Under the Corporations Act 2001the entities listed inAnnexure A are deemed associates of Thorney Technologies Ltdin relation to the investment in ReadCloud Limited

7. Addresses

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

Name	Address
Thorney Technologies Ltd	Level 39, 55 Collins Street, Melbourne 3000
Associated entities	Refer Annexure 'A'

Signature

Print name	CRAIG SMITH	Capacity SECRETARY
Sign here		Date 7 February 2018

ANNEXURE 'A'

This is Annexure A referred to in the Form 603 Notice of initial substantial holder signed by me and dated 7 February 2018.

......................................... CRAIG SMITH Secretary

ASSOCIATED ENTITIES DETAILS

Entity	Address
Thorney Investment Group
Jamahjo Pty Ltd, ACN 117 488 696	c/- TWF Partners, Level 4, 25 ClaremontStreet, South Yarra, 3141
Thistle Custodians Pty Ltd, ACN 078 027 193	Level 39, 55 Collins Street, Melbourne 3000
Thistle Holdings Pty Ltd, ACN 075 051 464	Level 39, 55 Collins Street, Melbourne 3000
Thorney Alpha Pty Ltd, ACN 162 820 537	Level 39, 55 Collins Street, Melbourne 3000
Thorney Beta Pty Ltd, ACN 162 828 677	Level 39, 55 Collins Street, Melbourne 3000
Thorney Holdings Pty Ltd, ACN 006 262 835	Level 39, 55 Collins Street, Melbourne 3000
Thorney International Pty Ltd, ACN 132 886 698	Level 39, 55 Collins Street, Melbourne 3000
Thorney Investment Group Australia Pty Ltd,ACN 117 488 892	Level 39, 55 Collins Street, Melbourne 3000
Thorney Management Services Pty Ltd, ACN 164 880 148	Level 39, 55 Collins Street, Melbourne 3000
Thorney Omega Pty Ltd, ACN 163 964 636	Level 39, 55 Collins Street, Melbourne 3000
Tiga Property Pty Ltd, ACN 117 811 453	Level 39, 55 Collins Street, Melbourne 3000
Tiga (Ballarat) Pty Ltd, ACN 117 812 030	Level 39, 55 Collins Street, Melbourne 3000
Tiga Finance Pty Ltd, ACN 118 521 412	Level 39, 55 Collins Street, Melbourne 3000
Tiga (Hawthorn) Pty Ltd, ACN 126 952 663	Level 39, 55 Collins Street, Melbourne 3000
Tiga Tails Pty Ltd, ACN 080 534 416	Level 39, 55 Collins Street, Melbourne 3000
Tiga Trading Pty Ltd, ACN 118 961 210	Level 39, 55 Collins Street, Melbourne 3000
Other associates
Coastal Estates Pty Ltd, ACN 004 481 154	c/- TWF Partners, Level 4, 25 ClaremontStreet, South Yarra, 3141
Jasforce Pty Ltd, ACN 007 167 713	c/- TWF Partners, Level 4, 25 ClaremontStreet, South Yarra, 3141
Urban Land Nominees Pty Ltd, ACN 004 753 066	c/- TWF Partners, Level 4, 25 ClaremontStreet, South Yarra, 3141