SCHOOLBLAZER LIMITED — Major Shareholding Notification 2015

Feb 11, 2015

From +61 2 9299 1004

Thu Feb 12 17:21:47 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	("The Holders")	Mrs Ida Constable, IJV Investments Pty Ltd (ACN 162 908 296), LiconTrading, Mr David Constable, Kitwood Pty Ltd (ACN 010 205 099), MsLola Lichter, Ms Virginia Little, Supervised Investments AustraliaLimited (ACN 125 850 305), Ms Sarah Constable, Mr Joseph Constable
ACN/ARSN (if applicable)
There was a change in the interests of thesubstantial holder on		11/2/2015
The previous notice was given to the company on		23/09/2014
The previous notice was dated		23/09/2014

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 oran associate (2) had a relevant interest (3) in when last required, and when now r company or scheme, are as follows:

Class of securities (4)	Previous notice
	Person's votes	Voting power (5)	Person's votes	Voting power (5)
FPO Shares	10,466,034	19.4%	9,649,469	17.9%

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
SEEANNEX-A

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
SEEANNEX-B

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
Armada Trading Pty Ltd$(ACN: 001 149 097)$ ;Trina Investments PtyLtd (ACN: 000 540 796)	Ceasing to be associates of the Holders: this is beacuaseSupervised Investments Australia Limited's (SIAL's) informalprofit sharing arrangement pertaining to Armada Trading PtyLtd and Trina Investments Ptv Ltd's investment in HGLlimited has ceased.

6. Addresses

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

Name	Address
SEE ANNEX-C

Signature

print name $M$ ITCHELL B TAYLOR	PORTFOLIO MANACTERCapacity SUPERUISED INVESTMENTS AUSTRALLIMITED
sign here	date $[2 / 02 / 20]$ $\frac{2}{\pi}$

DIRECTIONS

• If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the $(1)$ 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. $(4)$

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

• $(6)$ 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.
• $(8)$ 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".
• $(9)$ Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

ANNEXURE A - CHANGES IN RELEVANT INTERESTS

Person whose relevantDate of Changeinterset changed		Nature of change	Considerationgiven inrelation tochange	Class andnumber ofsecuritiesaffected	Personsvotesaffected
		Relevant interest in shares held
		through Supervised Investments
		Australia Limited ATF The
		Supervised Fund (s608(3)(a) of
	28/11/2014 Licon Trading	the Corporations Act)	$16,481	54,757 FPO	54,757
	$1/12/2014$ Licon Trading	As Above	$9,883	26,000 FPO	26,000
	$2/12/2014$ Licon Trading	As Above	$2,454	6,436 FPO	6,436
	$4/12/2014$ Licon Trading	As Above	$4,883	12,807 FPO	12,807
	$10/12/2014$ Licon Trading	As Above	$	290825 FPO	825
	11/12/2014 Licon Trading	As Above	$3,512	10,000 FPO	10,000
	12/12/2014 Licon Trading	As Above	$3,512	10,000 FPO	10,000
	16/12/2014 Licon Trading	As Above	$3,160	9,000 FPO	90,000
	31/12/2014 Licon Trading	As Above	$13,309	44,216 FPO	44,216
	2/01/2015 Licon Trading	As Above	$4,751	15,784 FPO	15,784
	11/02/2015 Licon TradingSupervised Investments11/02/2015 Australia Limited	Grant of Call options toSupervised Investments AustraliaLimited from Armada Trading PtyLtd. Licon Trading has a relevantinterest in shares held throughSupervised Investments AustraliaLimited.Grant of Call options toSupervised Investments AustraliaLimited from Armada Trading PtyLtd.	$$	91,934 FPO91,934 FPO	91,93491,934
	11/02/2015 Licon TradingSupervised Investments	Grant of Call options toSupervised Investments AustraliaLimited from Trina Investmentspty Ltd. Licon Trading has arelevant interest in shares heldthrough Supervised InvestmentsAustralia Limited.Grant of Call options toSupervised Investments AustraliaLimited from Trina Investments	$.	23,361 FPO÷.	23,361
	11/02/2015 Australia Limited	pty Ltd.	Ś	23.361 FPO	23.362

.משמע בפי במספר היה היה האופי מספר מספר במיין היה היה היה היה מספר במיין בין אין אין היה היה המוסדר היה היה היה

ANNEXURE B - PRESENT RELEVANT INTERESTS

IJV Investments Pty LtdIJV Investments Pty LtdIJV Investments Pty LtdHolder of shares (s608(1)(a))5,582,653 FPORelevant interest in sharesheld through SupervisedInvestments AustraliaSupervised InvestmentsAustralia Limited ATF theJP Morgan NomineesLimited ATF The SupervisedAustralia LimitedSupervised FundFund (s608(3)(a))Licon Trading2,553,916 FPOSupervised InvestmentsAustralia Limited ATF theSupervised Investments JP Morgan NomineesAustralia LimitedAustralia LimitedSupervised FundHolder of Shares (s608(1)(a))2,553.916 FPOLicon TradingBell Potter Nominees LtdLicon TradingHolder of shares (s608(1)(a))30,000 FPORelevant interest in optionsover 10% of Armada TradingPty Ltd's FPO Shares in HGLLimited held by SupervisedInvestments AustraliaSupervised InvestmentsAustralia LimitedLimited (s608(3)(a))Licon TradingArmada Trading Pty Ltd91,934 FPOSupervised investmentsAustralia Limited ownsoptions over 10% of ArmadaTrading Pty Ltd's FPO sharesSupervised InvestmentsSupervised InvestmentslAustralia LimitedAustralia Limitedin HGL Limited.Armada Trading Pty Ltd91,934 FPO91,934Relevant interest in optionsover 10% of TrinaInvestments Pty Ltd's FPOShares in HGL Limited heldby Supervised InvestmentsAustralia LimitedSupervised InvestmentsAustralia LimitedLicon TradingTrina Investments Pty Ltd(s608(3)(a))23,361 FPOSupervised InvestmentsAustralia Limited ownsoptions over 10% of ArmadaTrading Pty Ltd's FPO shareslSupervised InvestmentsSupervised InvestmentsAustralia LimitedAustralia Limitedin HGL Limited.Armada Trading Pty Ltd23,361 FPOMrs Ida Constable, IJVMrs Ida Constable, IJVInvestments Pty Ltd,Investments Pty Ltd,Supervised InvestmentsSupervised InvestmentsAustralia Limited andAustralia Limited andRelevant interest in sharesSupervised InvestmentsSupervised Investmentsand options held through IJVAustralia Limited ATF TheAustralia Limited ATF TheInvestments Pty Ltd andSupervised Fund.Licon Trading Pty LtdMrs Ida ConstableSupervised Fund,8,275,003 FPO8,281,864Mrs Ida ConstableMrs Ida ConstableMrs Ida ConstableHolder of shares (s608(1)(a))275,000 FPOMs Virginia LittleMs Virginia LittleMs Virginia LittleHolder of shares (s608(1)(a))122,729 FPOKitwood Pty LtdKitwood Pty LtdKitwood Pty LtdHolder of shares (s608(1)(a))866,000 FPORelevant interest in sharesheld by Kitwood Pty Itd ascontroller of Kitwood Pty Ltd(s608(3)(b))Mr David ConstableKitwood Pty LtdKitwood Pty Ltd866,000 FPOMs Lola LichterMs Lola LichterMs Lola LichterHolder of shares (s608(1)(a))25,000 FPOMr Joseph ConstableMr Joseph ConstableMr Joseph ConstableHolder of shares (s608(1)(a))39,438 FPOMs Sarah ConstableMs Sarah ConstableMs Sarah ConstableHolder of shares (s608(1)(a))39,438 FPOTotal% of SOI	Holder of relevantlinterest	Registered holder ofsecurities	Person entitled to beregistered as holder	Nature of relevant interest	Class andnumber ofsecurities	Personsvotes
						5,582,653
						2,553,916
						2,553,916
						30,000
						91,934
						23,361
						23,361
						275,000
						122,729
						866,000
						866,000
						25,000
						39,438
						39,438
						9,649,46917.9%

ANNEXURE C - ADDRESSES

.Provinci v od vrtevnika prima

Name	Address
IJV Investments Pty Ltd
	432 Elizabeth Street, Surry Hills 2010
Licon Trading	432 Elizabeth Street, Surry Hills 2010
Mrs Ida Constable	205 Gillards Road, Pokolbin 2320
Ms Virginia Little	15 Pindarl Avenue, Mosman 2088
Mr David Constable	205 Gillards Road, Pokolbin 2320
Supervised Investments AustraliaLimited	432 Elizabeth Street, Surry Hills 2010
Ms Lola Lichter	45 Seymour Road, Elsternwick 3135
Mr Joseph Constable	432 Elizabeth Street, Surry Hills 2010
Ms Sarah Constable	432 Elizabeth Street, Surry Hills 2010
Kitwood Pty Ltd	432 Elizabeth Street, Surry Hills 2010
Bell Potter Nominees Ltd	GPO Box 4718TT, Melbourne VIC 3001
JP Morgan Nominees Australia Ltd	Locked Bag 7, Royal Exchange, NSW1225
Trina Investments Pty Ltd	C/- Barry Mendal Frank Group, Level 53MLC Centre, 19 Martin Place, SydneyNSW 2000
Armada Trading Pty Ltd	C/- Barry Mendal Frank Group, Level 53MLC Centre, 19 Martin Place, SydneyNSW 2000