RECCE PHARMACEUTICALS LTD — Director's Dealing 2017

Jan 15, 2017

Appendix 3Y Change of Director’s Interest Notice

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	Graham John Hamilton Melrose
Date of last notice	15 July 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.

n eNote: Ibe discl	n eNote: Ibe discl	case of a rus, s ncues neress n en the case of a company, interests which come witosed in this part.	rus mae avaae yhin paragraph (i) of the de	rus mae avaae yhin paragraph (i) of the de	e response eny of e rusfinition of “notifiable interest of a director” sh	e response eny of e rusfinition of “notifiable interest of a director” sh	ould	ould
Dir
	Dir	ect or indirect interest		Di
				rec	t
	Na(inNot	ture of indirect interestcluding registered holder)e: Provide details of the circumstances ivin rise
				Not a	pplicable
			to the relevant
	gginterest.
	Date of change			16 January 2017

• See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director’s Interest Notice

No of securities held prior	No of securities held prior
	No of securities held prior	to change		14720	3 ordinar sh	ares*
	.			,,27,843,months	y960 ordinary sfrom 15/1/20	hares* (escro16)	wed for 24
				1,059,0fl	00 Class A Pel id di	rformance Shh	ares* (andid
				any uconversi15/1/20	y pa oron) (escrowe16)	nary saresd for 24 m	ssue ononths from
				6,075,0any ful	00 Class B Pely paid ordi	rformance Shnary shares	ares* (andissued on
				conversi15/1/20	on) (escrowe16)	d for 24 m	onths from
				6,075,0any ful	00 Class C Pely paid ordi	rformance Shnary shares	ares* (andissued on
				conversi15/1/20	on) (escrowe16)	d for 24 m	onths from
	Class			Fully paid ordinary shares
	Number acquired			1,059,000
	Number disposed			Nil
	Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation			Nil consideration
	No. of securities held after change			1,472,043 ordinary shares*28,902,960 ordinary shares* (escrowed for 24months from 15/1/2016)6,075,000 Class B Performance Shares* (andany fully paid ordinary shares issued onconversion) (escrowed for 24 months from15/1/2016)6,075,000 Class C Performance Shares* (andany fully paid ordinary shares issued onconversion) (escrowed for 24 months from15/1/2016)6,075,000 Class D Performance Shares* (andany fully paid ordinary shares issued onconversion) (escrowed for 24 months from15/1/2016)*held jointly with spouse Olga Mary Melrose

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

Nature of changeExample: on-market trade, off-market trade, exercise of options, issueof securities under dividend reinvestment plan, participation in buy-back	Conversion of Class A Performance Shares uponachievement of the milestone, i.e. the volumeweighted average price of shares as traded on ASXover 20 consecutive trading days on which theshares are traded is not less than $0.30.

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

art 3 –+Closed period
Were the interests in the securities or contracts detailed abovetraded during a+closed period where prior written clearancewas required?	No
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.

01/01/2011 Appendix 3Y Page 3