SCHOOLBLAZER LIMITED — Major Shareholding Notification 2015

Sep 24, 2015

From +61 2 9299 1004

Fri Sep 25 14:35:43 2015

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme	HGL Limited (ASX: HNG)
ACN/ARSN	009 657 961
1. Details of substantial holder (1)
Name	Lola Lichter, Ms Virginia Little, Ms Sarah Constable, Mr Joseph305) ("The Holders")	Mrs Ida Constable, IJV Investments Pty Ltd (ACN 162 908 296), LiconTrading, Mr David Constable, Kitwood Pty Ltd (ACN 010 205 099), MsConstable and Supervised Investments Australia Limited (ACN 125 850)
ACN/ARSN (if applicable)
There was a change in the interests of thesubstantial holder on	23/09/2015
The previous notice was given to the company on	11/02/2015
The previous notice was dated	11/02/2015

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		Present notice
	Person's votes	Voting power (5)	Person's votes	Voting power (5)
FPO Shares	9,649,469	17.9%	10,190,127	18.9%

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 ofchange	Person whoserelevant interestchanged	Nature of change (6)	Consideration given inrelation to change (7)	Class and numberof securitiesaffected	Person's votesaffected
SEE ANNEXА

4. Present relevant interests

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

Holder ofrelevantinterest	Registered holderof securities	Person entitled to beregistered as holder(8)	Nature of relevantinterest (6)	Class and numberof securities	Person's votes
SEE ANNEX
в

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/ARSN (if applicable)	Nature of association
Licon Trading	Licon Trading was disolved and all holdings were transferredto Mrs Ida Constable on 26/3/2015

6. Addresses

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

Name	Address
SEE ANNEX-C

Signature		Company Secretary
	print name Chafaca Kavim	capacity Supervised Investments
sign here		date $25/09/2015$
	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.

• See the definition of "associate" in section 9 of the Corporations Act 2001. $(2)$

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

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

• The person's votes divided by the total votes in the body corporate or scheme multiplied by 100. $(5)$

• $(6)$ Include details of:

  • any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) $(a)$ 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
  • any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or $(b)$ 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.

• $(7)$ 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.
• If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write $(8)$ "unknown".
• $(9)$ Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

ANNEXURE A: CHANGES IN RELEVENT INTERESTS

Date of Change	Person whoserelevant intersetchanged	Nature of change	Consideration given inrelation to change	Class and numberof FPO securitiesaffected	Personsvotesaffected
26/03/2015	Licon Trading andIda Constable	Transfer of shares fromLicon Trading to IdaConstable	N/A	30,000	N/A
	Supervised
	Investments
	Austalia Limited as
	trustee for The
	Supervised Fund
	25/05/2015 ('SIAL ATF TSF')	On Market Purchase	$,4,107	11,695	11,695
	1/06/2015 Lola Lichter	On Market Sale	٠$10,000	$-25,000$	$-25,000$
	17/06/2015 Lola Lichter	On Market Purchase	$9,250	25,000	25,000
	17/06/2015 SIAL ATF TSF	On Market Purchase	$38,526	103,783	103,783
	22/06/2015 SIAL ATF TSF	On Market Purchase	$22,814	63,233	63,233
	23/06/2015 SIAL ATF TSF	On Market Purchase	$2,167	6,000	6,000
	24/06/2015 SIAL ATF TSF	On Market Purchase	$3,431	9,500	9,500
	25/06/2013 SIAL ATF TSF	On Market Purchase	$\mathsf{S}$13,822	38,267	38,267
	3/07/2015 SIAL ATF TSF	On Market Purchase	$7 2 2 4	20,000	20,000
	7/07/2015 SIAL ATF TSF	On Market Purchase	$347	989	989
	8/07/2015 SIAL ATF TSF	On Market Purchase	$1,927	5,488	5,488
	13/07/2015 SIAL ATF TSF	On Market Purchase	$5,578	15,885	15,885
	15/07/2015 SIAL ATF TSF	On Market Purchase	$7,692	21,905	21,905
	16/07/2015 SIAL ATF TSF	On Market Purchase	$\overline{\mathbf{S}}$3,512	10,000	10,000
	22/07/2015 SIAL ATF TSF	On Market Purchase	$11,399	31,561	31,561
	29/07/2015 SIAL ATF TSF	On Market Purchase	$4,366	12,798	12,798
	30/07/2015 SIAL ATF TSF	On Market Purchase	$\overline{\mathbf{5}}$4,884	14,316	14,316
	6/08/2015 SIAL ATF TSF	On Market Purchase	$250	733	733
	11/08/2015 SIAL ATF TSF	On Market Purchase	$3,582	10,500	10,500
	18/08/2015 SIAL ATF TSF	On Market Purchase	$3,512	10,000	10,000
	26/08/2015 SIAL ATF TSF	On Market Purchase	$1,756	5,000	5,000
	27/08/2015 SIAL ATF TSF	On Market Purchase	$10,901	31,044	31,044
	28/08/2015 SIAL ATF TSF	On Market Purchase	$6,145	17,500	17,500
	1/09/2015 SIAL ATF TSF	On Market Purchase	$2,067	5,887	5,887
	1/09/2015 Kitwood Pty Ltd	On Market Purchase	$$3.122$	9,182	9,182
	2/09/2015 Kitwood Pty Ltd	On Market Purchase	$5,100	15,000	15,000
	3/09/2015 Kitwood Pty Ltd	On Market Purchase	Ś1,020	3,000	3,000
	9/09/2015 Lola Lichter	On Market Purchase	$5,100	15,000	15,000
	9/09/2015 Kitwood Pty Ltd	On Market Purchase	$\overline{\mathbf{S}}$3,296	9,693	9,693
	14/09/2015 Kitwood Pty Ltd	On Market Purchase	$\mathsf{S}$5,065	14,897	14,897
	15/09/2015 Kitwood Pty Ltd	On Market Purchase	$247	726	726
	21/09/2015 Kitwood Pty Ltd	On Market Purchase	$\overline{5}$8,467	24,903	24,903
	22/09/2019 Kitwood Pty Ltd	On Market Purchase	$\overline{\mathsf{S}}$743	2,173	2,173
TOTAL			$191,418		540,658

$\sim$

ANNEXURE B: PRESENT RELEVANT INTERESTS

Holder of relevant interest	Registered holder of securities	Person entitled to be registeredas holder.	Nature of relevant interest	Class and numberof securities	Personsvotes
IJV Investments Pty Ltd	IJV Investments Pty Ltd	IJV Investments Pty Ltd	I lolder of shares (s608(1)(a))	5,582,653 FPO	5,582,653
Supervised InvestmentsAustralia Limited	JP Morgan Nominees Australia Limited	Supervised InvestmentsAustralia Limited ATF theSupervised Fund	Relevant interest in shares heldthrough Supervised InvestmentsAustralia Limited ATF TheSupervised Fund (s608(3)(a))	3,000,000 FPO	3.000.000
Supervised investmentsAustralia Limited		Supervised Investments	Relevant interest in options over10% of Armada Trading Pty Ltd'sFPO Shares in HGL Limited heldby Supervised InvestmentsAustralia Limited	91 934 FPO	91,934
Supervised Investments	Armada Trading Pty Ltd	Australia limitedSupervised Investments	Relevant interest in options over10% of Trina Investments PtyLtd's FPO Shares in HGL Limitedheld by Supervised Investments		23,361
Australia Limited Mrs ida Constable	Trina Investments Pty LtdMrs Ida Constable, IJV Investments PtyLtd. Supervised Investments AustraliaLimited and Supervised InvestmentsAustralia Limited ATF The SupervisedFund.	Australia LimitedMrs Ida Constable, IJVInvestments Pty Ltd, SupervisedInvestments Australia Limitedand Supervised InvestmentsAustralia Limited ATF TheSupervised Fund,	Australia LimitedRelevant interest in shares andoptions held through UVInvestments Pty Ltd and JPMorgan Nominess	23,361 FPO8 697 948 FPO	8,697,948
Mrs Ida Constable	Mrs Ida Constable	Mrs Ida Constable	Holder of shares (s608(1)(a))	305,000 FPO	305,000
Ms Virginia Little Kitwood Pty Ltd	Ms Virginia LittleKitwood Pty Ltd	Ms Virginia LittleKitwood Pty Ltd	Holder of shares (s608(1)(a))Holder of shares (s608(1)(a))Relevant interest in shares held	122,729 FPO945,574 FPO	122,729945,574
Mr David Constable	Kit wood Pty Ltd	Kitwood Pty Ltd	by Kitwood Pty Ltd as controllerof Kitwood Pty Ltd (s608(3)(b))	945.574 FPO	945,574
Ms Lola Lichter	Ms Lola LichterMr Joseph Constable	Ms Lola LichterMr Joseph Constable	Holder of shares (s608(1)(a))Holder of shares (s608(1)(a))	40,000 FPO39,438 FPO	40.00039,438
Mr Joseph ConstableMs Sarah Constable	Ms Sarah Constable	Ms Sarah Constable	Holder of shares (s608(1)(a))	39,438 FPO	39 438
Total% of SOI					10, 190, 12718.9%

ANNOURE C ADDRESSS

E-ANNOURE C ADDRESSS
E,]Ir	Efil:.-ETIclm:lim)231 f.c-£fa:6
UV Investments Pty Ltd	432 Elizabeth Street, SurryHills 2010
Ucon Trading	432 Elivabeth Street,Sum,Hills 2010
Mrs Ida Constable	205 Gillards Road,Pokolbln 2320
Ms Virginia Uttle	100 Cabramatta RoadMosman 2088
MrDavid Constable	205 GllardsRoad,Pokolbln 2320
Supervised Investments AustraliaUmited	Suite 431, 5 Ume Street2000Sydney NSW
Ms Lola Uchter	45 Seymour Road,Elstemwick 3135
WJoseph Constable	432 8 iznbeth Street,SurryHills 2010
Ms Sarah Constable	432 8Izabeth Street, SurryHills 2010
KltwoodPty Ltd	432 Elizabeth Street,SurryHills 2010
Bell PotterNominees Ltd	GPO Box 4718TT,Melbourne VIC 3001
J P Morgan Nominees Australia l:d	Locked Bag 7, RoyalExchange, NSW 1225