SCHOOLBLAZER LIMITED — Major Shareholding Notification 2021

Mar 25, 2021

604 page 1/2 15 July 2001

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	See Annexure A

There was a change in the interests of thesignstantial holder on	243/21
The previous notice was given to the company on	25 11 20
The previous notice was dated	2411 20

2. Previous and present voting power

ACN/ARSN (if applicable)

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
FPO	(26,754,037) 24.6%	Ferson's votes. Voting power [5]	Person's votes17,492,177 13.2%	Voting power (5)

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 thesubstantial holder was last required to give

Date ofchange	Person whoseraiovant interestchanged	Nature ofchange (6)	Considerationgiven in relationto change (7)	Class andnumber ofsecuritiesaffected	Person's votesaffected
	See Annexure Bけんりん ほうきゅうきょうきょう

4. Present relevant interests

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

Holder ofrelevant.terestV KOM	Registeredholder ofsecurities51 (A.T. 79 I.O.)	Person entitledto be registered.as holder 30MOSTERNING	Naturo ofelevantinterest (6)자만 250 오시 24일	Class andnumber ofSEXOUTIDIARS	Person's votesThe Contractor Count
	See Annexure C

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 (5) with, the substantial holder in relation to voting interests in the company or scheme are as fo

Neme and ACN/ARSN (if applicable)	Nature of association
Supervised InvestmentsAustralia Limited (SIAL)ACN: 125 580 305	SIAL is no longer an associate of the substantial shareholder groupTollowing David Constable's sale of shares in SIAL

6. Addresses

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

See Annexure D
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	print neme.	David Constable	capacity Director
	sign here	unonstable	date $26/3/2021$
		DIRECTIONS
			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 anequity 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 tothroughout 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
		See the definition of "associate" in section 9 of the Corporations Act 2001.
		See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.
		The voting shares of a company constitute one class unless divided into separate classes.
		The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.
	Include details of:
团			any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of anydocument setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme oratrangement, must accompany this form, together with a written statement certifying this contract, schome or amangement; and
łы		which the relevant interest relates (indicating cleanly the particular securities to which the qualification applies).	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
		See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.
	the relevant interest was acquired.		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, becomeentitied 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 beincluded of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid deedly to the person from whom
			If the substantial holder is unable to determine the identity of the person (eg. if the reterant interest arises because of an option) write "unknown".
		Give details. If appropriate, of the present association and any change in that association since the last substantial holding notice.

This is Annexure A of 1 page referred to in ASIC Form 604 (Notice of Change of Interests of Substantial Holder)

Signed:

ayouskala

Date: $26/3/2021$

Details of substantial holder

• · Donus Australia Foundation Limited ABN: 396 171 227 46 (Donus)
• · Mr David Constable (David)
• · Dr Ida Constable (Ida)
• · IJV Investments Pty Ltd ACN: 162 906 296 (IJV)
• · Kitwood Pty Ltd ACN: 010 205 099 (Kitwood)

This is Annexure B of 1 pages referred to in ASIC Form 604 (Notice of Change of Interests of Substantial Holder)

Signed:

Delonstoble

Date: $26/3/2021$

Date ofchange	Person whoserelevant interestchanged	Nature of change	FPO change	Considerationgiven in relationto change
26-03-21	All entities	Dilution due to retail offer	N/A	N/A
$24 - 03 - 21$	SIAL	No longer part of substantialshareholder group	$-11,042,253$	N/A
24-03-21	David	Consideration for sale of SIAL	1,903,893	N/A
$02 - 03 - 21$	Kitwood	On-market sale	$-237.500$	$- $56,586.40$
$25 - 02 - 21$	Donus	On-market purchase	20,000	$4,326.50
18-02-21	Donus	On-market purchase	30,000	$6,426.50
$01 - 02 - 21$	Donus	On-market purchase	4,716	$995.81
29-01-21	Donus.	On-market purchase	66,642	$14,071.80
22-01-21	Donus	On-market purchase	128,642	$25,918.75

This is Annexure C of 1 page referred to in ASIC Form 604 (Notice of Change of Interests of Substantial Holder)

Signed:

Deburstake

Date: 26/3/2021

Present relevant interests

Holder of relevantinterest	Registered holderof securities	Person entitled tobe registered asholder	Nature ofrelevant interest	Number ofFPO sharesand votes
Donus AustraliaFoundation Limited	Donus AustraliaFoundation Limited	Donus AustraliaFoundation Limited	A charitable trustwhose director isDr Ida Constable.	900,000
Dr Ida Constable	Dr Ida Constable	Dr Ida Constable	Holder of shares.	4,197,217
Mr David Constable	Mr David Constable	Mr David Constable	Holder of shares.	2,222,720
	Kitwood	Kitwood	Holder of shares.	2,000,000
Kitwood1JV	IJV	LIV	Holder of shares.	8,172,240

This is Annexure D of 1 page referred to in ASIC Form 604 (Notice of Change of Interests of Substantial Holder)

Signed: Afrastalia

Date: $26/3/2021$

Addresses

Name	Address
HGL Limited	Unit 4, 17 Stanton Road, Seven Hills NSW 2147
Mr David Constable
Dr Ida Constable
Donus AustraliaFoundation Limited	20 Chandos Street, St Leonards NSW 2065
Kitwood	20 Chandos Street, St Leonards NSW 2065
IN	20 Chandos Street, St Leonards NSW 2065