SCHOOLBLAZER LIMITED — Director's Dealing 2012

Mar 28, 2012

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 30/9/01 Amended 01/01/11

Name of entity	HGL Limited
ABN	25 009 657 961

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	Dr Frank Michael Wolf
Date of last notice	5 March 2012

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	Indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevant	FM Wolf Pty Ltd as trustee for the FM WolfSuperannuation Fund – Dr Wolf is a 50%
interest.	shareholder of FM Wolf Pty Ltd
	22 March 2012
Date of change	23 March 201226 March 2012
	28 March 2012
Number of securities held prior to change	550,000
Class	Ordinaryfully paid shares
	2,893 on 22 March 2012
Number acquired	17,107 on 23 March 201218,838 on 26 March 2012
	11,162 on 28 March 2012
Number disposed	Nil
Value/Consideration	$0.87 per share on 22 March 2012
Note: If consideration is non-cash, provide details and estimatedvaluation	$0.87 per share on 23 March 2012
	$0.86 per share on 26 March 2012
	$0.86 per share on 28 March 2012
Number of securities held after change	600,000
Nature of changeExample: on-market trade, off-market trade, exercise of options, issue of	On-market trades
securities under dividend reinvestment plan, participation in buy-back

• See chapter 19 for defined terms.

Appendix 3Y Page 1

01/01/2011

Appendix 3Y Change of Director’s Interest Notice

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
Number and class of securities towhich interest related prior tochangeNote: Details are only required for a contract in relationto which the interest has changed	Not applicable
Interest acquired	Not applicable
Interest disposed	Not applicable
Value/ConsiderationNote: If consideration is non-cash, provide details andan estimated valuation	Not applicable
Interest after change	Not applicable

Part 3 –[+] Closed period

Were the interests in the securities or contracts detailedabove traded during a+closed period where prior writtenclearance was required?	No
If so, was prior written clearance provided to allow thetrade to proceed during this period?	Not applicable
If prior written clearance was provided, on what date wasthisprovided?	Not applicable

• See chapter 19 for defined terms.

Appendix 3Y Page 2

01/01/2011