SCHOOLBLAZER LIMITED — Major Shareholding Notification 2016

Dec 12, 2016

		Form 604Corporations Act 2001Section 671B	PALTE
	Notice of change of interests of substantial holder
To Company Name/Scheme	$HGFL$ $L$ ; mited $CASx$ ; $HWG$ )
ACN/ ARSN	009 657 961
1. Details of substantial holder(1)
NameACN/ARSN (if applicable)	SEEANNEXURE A
There was a change in the interests of thesubstantial holder onThe previous notice was given to the company onThe previous notice was dated	12/16820,51620/5/16

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) $\left| \right|$

ORD SHARES	10, 932, 484	19.92	11,753,616	21.17
	Person's votes	Voting power (5)	Person's votes	Voting power (5)
Class of securities (4)	Previous notice		Present notice

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

	SEE	ANNEXURE B
Date ofchange	Person whoserelevant interestchanged	Nature ofchange (6)	Considerationgiven in relationto change $(7)$	Class andnumber ofsecuritiesaffected	Person's votesaffected

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows: $\leq \epsilon \qquad \qquad \sim \text{WIN} \epsilon \text{VDE}$

Holder ofrelevant	Registeredholder of	Person entitledto be registered	Nature ofrelevant	Class andnumber of	Person's votes
interest	securities	as holder (8)	interest (6)	securities

page 2/2 15 July 2001 604

$94052$

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:

	SEE ANNEAURE
Name and ACN/ARSN (if applicable)	Nature of association

6. Addresses

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

SEE	ANNEXURE E
	Address

Signature

print name Mitch Taylor capacity Portfolio Manager ~ SIAL sign here

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. $(2)$
• $(3)$ 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:
  • any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any $(a)$ 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.

• $(7)$ 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, becom'e 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 "unknown". $(8)$
• $(9)$ Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

PALTE 3

FORM 604. ANNEXURES

ANNEXURE A

• Dr Ida Constable
• IJV Investments Pty Ltd ACN: 162 906 296 (IJV)
• Kitwood Pty Ltd ACN: 010 205 099 (Kitwood)
• Ms Lola Lichter
• Ms Sarah Constable
• Supervised Investments Australia Limited ACN: 125 580 305 (SIAL)
• Mr David Constable
• Fayrstede Pty Ltd ACN: 117 528 364 ATF The Cooper Superannuation Fund (Fayrstede)

Holder of relevantinterest	Date	Nature of change	Number ofORD shares	Consideration
SIAL ATF TSF		31-May-16 On market purchase	28,235	$11,898
Dr Ida Constable		31-May-16 On market purchase	7,765	$3,388
SIAL ATF TSF		1-Jun-16 On market purchase	1,500	$632
SIAL ATF TSF		6-Jun-16 On market purchase	28,429	$11,980
SIAL ATF TSF		7-Jun-16 On market purchase	12,068	$5,085
SIAL ATF TSF		8-Jun-16 On market purchase	26,691	$11,515
SIAL ATF TSF		9-Jun-16 On market purchase	5300	$2,287
SIAL ATF TSF		10-Jun-16 On market purchase	1,450	$626
SIAL ATF TSF		14-Jun-16 On market purchase	4491	$1,938
SIAL ATF TSF		15-Jun-16 On market purchase	19,918	$8,593
SIAL ATF TSF		16-Jun-16 On market purchase	46,000	$20,307
SIAL ATF TSF		21-Jun-16 On market purchase	49,500	$22,597
SIAL ATF TSF		23-Jun-16 On market purchase	14,458	$6,455
SIAL ATF TSF		29-Jun-16 On market purchase	3,252	$1,452
Kitwood	19-Jul-16 DRIP		33,184	$14,136
IJV	19-Jul-16 DRIP		135,480	$57,714
Ms Sarah Constable	19-Jul-16 DRIP		991	$422
SIAL ATF TSF	19-Jul-16 DRIP		78,166	$33,299
SIAL ATF TSF		27-Jul-16 On market purchase	35000	$16,153
SIAL ATF TSF		3-Aug-16 On market purchase	16,872	$7,364
SIAL ATF TSF		9-Aug-16 On market purchase	100,000	$45,149
SIAL ATF TSF		12-Aug-16 On market purchase	2,372	$1,023
SIAL ATF TSF		21-Sep-16 On market purchase	5,597	$2,414
SIAL ATF TSF		27-Sep-16 On market purchase	42,000	$18,752
SIAL ATF TSF		28-Sep-16 On market purchase	34,606	$15,450
SIAL ATF TSF		30-Sep-16 On market purchase	3,300	$1,473
SIAL ATF TSF		7-Oct-16 On market purchase	5,000	$2,232
SIAL ATF TSF		2-Nov-16 On market purchase	8,644	$3,859
Ms Lola Lichter		7-Nov-16 On market purchase	18,000	$8,407
Ms Lola Lichter		9-Nov-16 On market purchase	559	$257
Ms Lola Lichter		18-Nov-16 On market purchase	6,441	$2,963
SIAL ATF TSF		22-Nov-16 On market purchase	11,726	$5,647
SIAL ATF TSF		8-Dec-16 On market purchase	50,692	$26,447
SIAL ATF TSF		9-Dec-16 On market purchase$\Lambda \Lambda \Lambda \Lambda$	99,308	$51,81112/12/6

HGL Limited ACN: 009 657 961

FORM 604. ANNEXURES

ANNEXURE C

Holder ofrelevantinterest	Registered holderof securities	Person entitled to beregistered as holder	Nature of relevantinterest	Numberof FPOshares
SIAL	JP MorganNominees AustraliaLimited (JPM) ascustodian of TheSupervised Fund$(TSF)$ .	SIAL ATF TSF	SIAL has the power tocontrol securities asthe trustee andinvestment manager ofTSF.	3,826,412
IJV	IJV	IJV	Holder of shares	5,906,909
SIAL	Armada Trading PtyLtd (Armada)	SIAL	Relevant interest inoptions over Armada'sORD shares in HGLLimited held by SIAL.	91,934
SIAL	Trina InvestmentsPty Ltd (Trina)	SIAL	Relevant interest inoptions over Trina'sORD shares in HGLLimited held by SIAL.	23,361
Dr Ida Constable	Dr Ida Constable	Dr Ida Constable	Holder of shares	350,000
Kitwood	Kitwood	Kitwood	Holder of shares	1,446,799
Ms Lola Lichter	Ms Lola Lichter	Ms Lola Lichter	Holder of shares	65,000
Ms SarahConstable	Ms Sarah Constable	Ms Sarah Constable	Holder of shares	43,201

Further to the above:

• Dr Ida Constable has a relevant interest in SIAL and IJV.
• Fayrstede and Mr David Constable hold a relevant interest in SIAL
• Dr Ida Constable and Mr David Constable are related parties. Mr David Constable controls Kitwood.
• Dr Ida Constable, Ms Lola Lichter and Ms Sarah Constable are related parties.

ANNEXURE D

• Mr Joseph Constable and Ms Virginia Little are not related parties of Dr Ida Constable and have thus ceased to be associates.
• Dr Ida Constable's association with Fayrstede had been overlooked in the prior notice.

ANNEXURE E

Name	Address
SIAL	Suite 701, 65 York Street Sydney NSW 2000
JPM	Locked bag 7, Royal Exchange NSW 1225
Fayrstede	PO Box 718, Moss Vale NSW 2677
Mr David Constable	205 Gillards Road, Pokolbin NSW 2320
Dr Ida Consatble	205 Gillards Road, Pokolbin NSW 2320
Ms Sarah Constable	205 Gillards Road, Pokolbin NSW 2320
Kitwood	20 Chandos Street, St Leonards NSW 2065
Ms Lola Lichter	45 Seymour Road, Elsternwick VIC 3135
Mr Joseph Constable	205 Gillards Road, Pokolbin NSW 2320
Ms Virginia Little	100 Cabramatta Road, Mosman NSW 2088
Trina and Armada	C/- Barry Mendal Frank Group, Level 53, 19 Martin Place Sydney NSW 2000

Mont/gee -12/12/16

PALTE 4