RECCE PHARMACEUTICALS LTD — Director's Dealing 2017

Mar 8, 2017

Rule 3.19A.2

Appendix 3Y

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity	Recce Ltd
ABN	73 124 849 065

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	James Hamilton Bray Graham
Date of last notice	16 February 2016

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest	Direct and indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	Mr Graham is trustee for the J Graham FamilyTrust
Date of change	9 March 2017

No. of securities held prior to change	Direct
	150,000 ordinary shares
	1,798,561 ordinary shares (escrowed for aperiod of 24 months from 15/1/2016)
	389,712 Class B Performance Shares (and anyfullypaidordinarysharesissuedonconversion) (escrowed for a period of 24months from 15/1/2016)
	389,712 Class C Performance Shares (and anyfullypaidordinarysharesissuedonconversion) (escrowed for a period of 24months from 15/1/2016)
	389,712 Class D Performance Shares (and anyfullypaidordinarysharesissuedonconversion) (escrowed for a period of 24months from 15/1/2016)
	Indirect
	345,000 ordinary shares
	1,436,250 ordinary shares (escrowed for 24months from 15/1/2016)
	356,250 Class B Performance Shares (and anyfullypaidordinarysharesissuedonconversion) (escrowed for 24 months from15/1/2016)
	356,250 Class C Performance Shares (and anyfullypaidordinarysharesissuedonconversion) (escrowed for 24 months from15/1/2016)
	356,250 Class D Performance Shares (and anyfullypaidordinarysharesissuedonconversion) (escrowed for 24 months from15/1/2016)
Class	Fully paid ordinary shares
Number acquired	N/A
Number disposed	79,960 fully paid ordinary shares
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	$19,956

+ See chapter 19 for defined terms.

No. of securities held after change	Direct
	70,040 ordinary shares
	1,798,561 ordinary shares (escrowed for aperiod of 24 months from 15/1/2016)
	389,712 Class B Performance Shares (and anyfullypaidordinarysharesissuedonconversion) (escrowed for a period of 24months from 15/1/2016)
	389,712 Class C Performance Shares (and anyfullypaidordinarysharesissuedonconversion) (escrowed for a period of 24months from 15/1/2016)
	389,712 Class D Performance Shares (and anyfullypaidordinarysharesissuedonconversion) (escrowed for a period of 24months from 15/1/2016)
	Indirect
	345,000 ordinary shares
	1,436,250 ordinary shares (escrowed for 24months from 15/1/2016)
	356,250 Class B Performance Shares (and anyfullypaidordinarysharesissuedonconversion) (escrowed for 24 months from15/1/2016)
	356,250 Class C Performance Shares (and anyfullypaidordinarysharesissuedonconversion) (escrowed for 24 months from15/1/2016)
	356,250 Class D Performance Shares (and anyfullypaidordinarysharesissuedonconversion) (escrowed for 24 months from15/1/2016)
Nature of changeExample: on-market trade, off-market trade, exercise of options, issueof securities under dividend reinvestment plan, participation in buyback	On-market tradeof ordinary shares to fundpersonal tax obligations

+ See chapter 19 for defined terms.

Part 2 – Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract	Not applicable
Nature of interest	Not applicable
Name of registered holder(if issued securities)	Not applicable
Date of change	Not applicable
No. and class of securities to whichinterest related prior to changeNote: Details are only required for a contract inrelation to which the interest has changed	Not applicable
Interest acquired	Not applicable
Interest disposed	Not applicable
Value/ConsiderationNote: If consideration is non-cash, provide detailsand an estimated valuation	Not applicable
Interest after change	Not applicable

Part 3 – +Closed period

Were the interests in the securities or contracts detailed above	No
traded during a +closed periodwhere prior written clearancewas required?
If so, was prior written clearance provided to allow the trade toproceed during this period?	Not applicable
If prior written clearance was provided, on what date was thisprovided?	Not applicable

+ See chapter 19 for defined terms.