RECKON LIMITED — Major Shareholding Notification 2014

Apr 27, 2014

FORM 604

Corporations Act 2001 Section 671B

NOTICE OF CHANGE OF INTERESTS OF SUBSTANTIAL HOLDER

To: Company Name/Scheme RKN - Reckon Limited ACN/ARSN 003 348 730 1. Details of Substantial Holder(1) Name Acorn Capital Limited ACN/ARSN (if applicable) 082 694 531 There was a change in the interests of the 28/04/2014 substantial holder on The previous notice was given to the company on 24/01/2014 The previous notice was dated 24/01/2014

2. Previous and present 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 (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of Securities (4)	Previous notice	Previous notice	Present Notice	Present Notice
	Person's votes	Voting power (5)	Person's votes	Voting power (5)
Ordinary	8,613,194	6.79%	7,254,432	5.72%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of Change	Person whose relevant interest changed	Nature of change (6)	Consideration given in relation to change (7)	Class and number of securities affected	Person's votes affected
24-Jan-2014 to 28-Apr-2014	Acorn Capital Limited	Sold	($2,792,953.25)	1,358,762	1,358,762

Page 1 of 2

4. Present relevant interests

Particulars of each relevant interests of the substantial holder in voting securities after the change are as follows:

Holder of Relevant Interest	Registered Holder of Securities		Person Entitled to be Registered as	Nature of relevant interest	Class and Number of Securities	Person's Votes
Colonial Foundation	The Myer Family				59,376	59,376
Microcap Investment Trust 1	National Nominees				197,350	197,350
Auscoal Superannuation Fund	JP Morgan Chase				550,008	550,008
Queensland Local Government Superannuation	JP Morgan Chase				583,603	583,603
UniSuper	National Nominees				598,634	598,634
Acorn Capital Microcap Trust	National Nominees				699,204	699,204
Commonwealth Bank Officers' Superannuation Fund	Citicorp Nominees				714,156	714,156
First State Super	JP Morgan Chase				804,490	804,490
Commonwealth Super Corporation	HSBC Custody				919,490	919,490
Microcap Investment Trust 2	National Nominees				923,893	923,893
Sunsuper Fund	HSBC Custody				1,204,228	1,204,228

5. Changes in Associates

The persons who have become associates (2) of, ceased to be associates, or have change the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable) Name of Association

6. Addresses

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

Name	Address
All Relevant Holders	C/O Acorn Capital Limited, Level 12, 90 Collins Street, Melbourne Victoria 3000

Print Name PAUL PALUMBO Capacity Portfolio Manager 28/04/2014 Sign Here Date

Page 2 of 2