SCHOOLBLAZER LIMITED — Major Shareholding Notification 2010

Feb 14, 2010

604 page 1/1 15 July 2001

Form 604
Corporations Act 2001
Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme HGL LIMITED
ACN/ARSN 009 657 961

1. Details of substantial holder (1)
   Name SERY PTY LIMITED ("SERY") AND EACH OF THE OTHER PERSONS SET OUT IN (6)
   (TOGETHER REFERRED TO AS THE "SERY GROUP")
   ACN/ARSN (if applicable) 008 392 989

There was a change in the interests of the substantial holder on 11 / 02 / 2010
The previous notice was given to the company on 18 / 12 / 2008
The previous notice was dated 18 / 12 / 2008

1. 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		Present notice
	Persons' votes	Voting power (5)	Person's votes	Voting power (5)
ORDINARY	9,410,840	17.69%	10,307,859	18.86%

1. 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
19.02.09	ITHURIEL PTY LTD	ONMARKET PURCHASE	0.70/SHARE	ORD. 21000	ITHURIEL PTY LTD
20.02.09	ITHURIEL PTY LTD	ONMARKET PURCHASE	0.70/SHARE	ORD. 194	ITHURIEL PTY LTD
24.02.09	ITHURIEL PTY LTD	ONMARKET PURCHASE	0.6893/SHARE	ORD. 23806	ITHURIEL PTY LTD
25.02.09	ITHURIEL PTY LTD	ONMARKET PURCHASE	0.63/SHARE	ORD. 5742	ITHURIEL PTY LTD
27.02.09	ITHURIEL PTY LTD	ONMARKET PURCHASE	0.63/SHARE	ORD. 7750	ITHURIEL PTY LTD
02.03.09	ITHURIEL PTY LTD	ONMARKET PURCHASE	0.63/SHARE	ORD. 16508	ITHURIEL PTY LTD
06.03.09	SERY PTY LIMITED	ONMARKET PURCHASE	0.65/SHARE	ORD. 14213	SERY PTY LIMITED
09.03.09	SERY PTY LIMITED	ONMARKET PURCHASE	0.65/SHARE	ORD. 2509	SERY PTY LIMITED
10.03.09	SERY PTY LIMITED	ONMARKET PURCHASE	0.65/SHARE	ORD. 6299	SERY PTY LIMITED
11.03.09	SERY PTY LIMITED	ONMARKET PURCHASE	0.65/SHARE	ORD. 6997	SERY PTY LIMITED
12.03.09	SERY PTY LIMITED	ONMARKET PURCHASE	0.65/SHARE	ORD. 20099	SERY PTY LIMITED
20.03.09	SERY PTY LIMITED	ONMARKET PURCHASE	0.65/SHARE	ORD. 13867	SERY PTY LIMITED
02.07.09	SERY PTY LIMITED	DRP	0.8431/SHARE	ORD. 260268	SERY PTY LIMITED
02.07.09	LPO INVESTMENTS PTY LTD	DRP	0.8431/SHARE	ORD. 50532	LPO INVESTMENTS PTY LTD
02.07.09	WHEELMAR DISTRIBUTORS P/L	DRP	0.8431/SHARE	ORD. 1238	WHEELMAR DISTRIBUTORS P/L
02.07.09	JENNIFER HERSHON	DRP	0.8431/SHARE	ORD. 23668	JENNIFER HERSHON
17.12.09	SERY PTY LIMITED	DRP	1.1587/SHARE	ORD. 326861	SERY PTY LIMITED
17.12.09	LPO INVESTMENTS PTY LTD	DRP	1.1587/SHARE	ORD. 63461	LPO INVESTMENTS PTY LTD
17.12.09	WHEELMAR DISTRIBUTORS P/L	DRP	1.1587/SHARE	ORD. 1580	WHEELMAR DISTRIBUTORS P/L
17.12.09	JENNIFER HERSHON	DRP	1.1587/SHARE	ORD. 29724	JENNIFER HERSHON

---

604 page 2/2 15 July 2001

4. Present relevant interests

Particulars of each relevant interest 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 holder (8)	Nature of relevant interest (6)	Class and number of securities	Person’s votes
SERY PTY LIMITED, MICHAEL HERSHON HOLDINGS PTY LIMITED, FAMHER PTY LIMITED, HERFAM MANAGEMENT PTY LIMITED, LPO INVESTMENTS PTY LTD, TOORANO PTY LIMITED, WHEELMAR DISTRIBUTORS PTY LTD, PETER MILLER, JENNIFER HERSHON	SERY PTY LIMITED – 7,901,519 SHARES
LPO INVESTMENTS PTY LTD – 1,534,083 SHARES
WHEELMAR DISTRIBUTORS PTY LTD – 38,191 SHARES
PETER MILLER – 39,723 SHARES
JENNIFER HERSHON – 718,341 SHARES
ITHURIEL PTY LTD – 75,000 SHARES	N/A	RELEVANT INTERESTS UNDER SECTIONS 608(1) AND 608(3) OF THE CORPORATIONS ACT.
PETER MILLER AND JENNIFER HERSHON ARE DIRECTORS OF SERY PTY LIMITED, MICHAEL HERSHON HOLDINGS PTY LTD, FAMHER PTY LIMITED, HERFAM MANAGEMENT PTY LIMITED, LPO INVESTMENTS PTY LTD AND WHEELMAR DISTRIBUTORS PTY LTD.
ITHURIEL PTY LTD	10,307,059 SHARES	10,307,059

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed 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 (if applicable)	Nature of association
ITHURIEL PTY LTD	JENNIFER HERSHON AND PETER MILLER - DIRECTORS

6. Addresses

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

Name	Address
SERY PTY LIMITED ACN 008 392 989	432 ELIZABETH STREET, SURRY HILLS NSW 2010
MICHAEL HERSHON HOLDINGS PTY LIMITED ACN 008 399 737	432 ELIZABETH STREET, SURRY HILLS NSW 2010
FAMHER PTY LIMITED ACN 000 605 710	432 ELIZABETH STREET, SURRY HILLS NSW 2010
HERFAM MANAGEMENT PTY LIMITED ACN 000 156 981	432 ELIZABETH STREET, SURRY HILLS NSW 2010
LPO INVESTMENTS PTY LIMITED ACN 000 396 949	432 ELIZABETH STREET, SURRY HILLS NSW 2010
TOORANO PTY LIMITED ACN 002 105 615	432 ELIZABETH STREET, SURRY HILLS NSW 2010
WHEELMAR DISTRIBUTORS PTY LIMITED ACN 000 477 387	432 ELIZABETH STREET, SURRY HILLS NSW 2010
MELANIE HERSHON	54 KAMBALA ROAD, BELLEVUE HILL NSW 2023
JENNIFER HERSHON	22 VICTORIA ROAD, BELLEVUE HILL NSW 2023
PETER MILLER	48 TAMBOURINE BAY ROAD, LANE COVE NSW 2066
ITHUREL PTY LTD	22 VICTORIA ROAD, BELLEVUE HILL NSW 2023

---

604 page 3/3 15 July 2001

Signature

print name	PETER MILLER	capacity	DIRECTOR
sign here	handwritten signature	date	15/2/2010

DIRECTIONS

1. If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 6 of the form.

2. See the definition of “associate” in section 9 of the Corporations Act 2001.

3. See the definition of “relevant interest” in sections 608 and 671B(7) of the Corporations Act 2001.

4. The voting shares of a company constitute one class unless divided into separate classes.

5. The person’s votes divided by the total votes in the body corporate or scheme multiplied by 100.

6. Include details of:

(a) any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and

(b) any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of “relevant agreement” in section 9 of the Corporations Act 2001.

1. Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.

2. If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write “unknown”.

3. Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.