SKY NETWORK TELEVISION LIMITED. — Major Shareholding Notification 2012

Apr 10, 2012

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Facsimile Transmission

Hyperion Asset Management Limited

Level 22 307 Queen Street Brisbane Qld 4000 GPO Box1205 Brisbane Qld 4001 Telephone 07 3020 3737 Facsimile 07 3020 3701 www.hyperionam.com.au clientservices@hyperionam.com.au

To: Company Announcements Office ASX Company: Fax No: 1300 135 638 From: Mr I W Harrison Date: 11 April 2012 Notice of initial substantial shareholder Subject: Pages (incl. Cover): 7

Please find following a Form 603 Notice of initial substantial holder for holdings in Sky Network Television Limited (SKT) by Hyperion Asset Management Limited.

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Mr I W Harrison Company Secretary

Hyperion Asset Management Limited ABN 80 080 135 897

The information contained in this transmission is confidential and may contain legally privileged information intended for the named recipient only. If you are not the intended Tecipient, you are not the intended the this

;617 3020 3701 $#$ 603 Page 1 of 2 15 July 2001

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Form 603

Corporations Act 2001 Section 671B

Notice of initial substantial holder

To Company Name/Scheme	SKY NETWORK TELEVISION LIMITED (SKT)
ACN/ARSN	109 613 309
1. Details of substantial holder (1)
Name	Hyperion Asset Management Limited (Hyperion)

ACN/ARSN (if applicable)

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080 135 897

The holder became a substantial holder on $05/04/2012$

2. Details of 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 on the date the substantial holder became a substantial holder are as follows:

Class of securities (4)	Number of securities	Person's votes (5)	Voting power (6)
Fully paid ordinaryshares	20,103,615	20,103,615	5.17 k

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

Holder of relevant interest	Nature of relevant interest (7)	Class and number of securities
See Annexure A

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

Holder of relevantinterest	Registered holder ofsecurities	Person entitled to beregistered as holder (8)	Class and number of securities
See Annexure B

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Holder of relevantinterest	Date of acquisition	Consideration (9)		Class and number of securities
		Cash	Non-cash
See Annexure C

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6. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

Name and ACN/ARSN (if applicable)	l Nature of association
Hyperion Holdings LimitedACN 109 308 894	Hyperion Asset Management Limited ACN 080 135 897 is acontrolled body of Hyperion Holdings Limited within themeaning of Section 608(3) of the Corporations Act.

7. Addresses

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

Name	Address
Hyperion Asset Management Limited	Level 22, 307 Queens Street, Brisbane, QLD 4000
	Hyperion Holdings Limited Level 22, 307 Queens Street, Brisbane, QLD 4000

Signature

print name Ian Harrison	capacity	Company Secretary
sign here $9'$ por /boom	date	11/04/2012

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 7 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.
• The voting shares of a company constitute one class unless divided into separate classes. $(4)$
• The total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or an $(5)$ associate has a relevant interest in.
• The person's votes divided by the total votes in the body corporate or scheme multiplied by 100. $(6)$
• Include details of: $(7)$
  • any relevant agreement or other circumstances by which the relevant interest was acquired. If subsection 671B(4) applies, a copy of $(a)$ 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.

• $(8)$ 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".
• Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was $(9)$ 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.

SKY NETWORK TELEVISION LIMITED

Annexure A

HYPERICON

lolder of Relevant Interest	Nature of Relevant Interest	Class and number of
		securities
yperion Asset Management Limited	Manager or in its own holdings for the persons or trusts listed besidefanagement Limited, in its capacity as Investmentits name, has the power to control voting and/or the disposal ofHyperion Asset Musecurities.	20,103,615 Ordinary Fully Paid

This is Annexure "A" of 1 page(s) as mentioned in form 603 Notice of initial substantial holder

may 19

lan W HarrisonCompany Secretary

11 April 2012 Date:

As at 5 April 2012Annexure B				HYPERICYN
Security Code:	SKT.ASX
Holder of Relevant Interest	Registered Holder of Security	Person entitled to be Registered as Holder	Nature of Relevant Interest	Class and Number of Securities	Personal Votes
Hyperion	JP Morgan Chase Nominees Pty Ltd <Auscoal Superannuation Pty Ltd A/C >	Auscoal Superannuation Pty Ltd	trusts listed beside its name, has the power to control voting andInvestment Manager or in its own holdings for the persons orHyperion Asset Management Limited, in its capacity asfor the dispoal of securities	3,607,887.00 Ordinary Fully Paid	3,607,887
Hyperion	Officers Superannuation Fund Pty LtdCiticorp Nominees Pty Limited < CBAへらえ	Pty LtdCBA Officers Superannuation Fund	trusts listed beside its name, has the power to control voting andInvestment Manager or in its own holdings for the persons orHyperion Asset Management Limited, in its capacity asor the dispoal of securities	2,522,474.00 Ordinary Fully Paid	2,522,474
Hyperion	JP Morgan Chase Nominees Pty Ltd <Coal Mining (Long Service Leave)Funding Corporation A/C >	FundingCoal Mining (Long Service Leave)Corporation	trusts listed beside its name, has the power to control voting andInvestment Manager or in its own holdings for the persons orHyperion Asset Management Limited, in its capacity asfor the dispoal of securities	592,905.00 Ordinary Fully Paid	592,905
Hyperion	JP Morgan Chase Nominees Pty Ltd < ColNVEST LimitedCoINVEST Limited A/C >		trusts listed beside its name, has the power to control voting andinvestment Manager or in its own holdings for the persons orHyperion Asset Management Limited, in its capacity asfor the dispoal of securities	423,871.00 Ordinary Fully Paid	423,871
Hyperion	JP Morgan Chase Nominees Pty Ltd <Health Super Pty Ltd A/C >	Health Super Pty Ltd	trusts listed beside its name, has the power to control voting andInvestment Manager or in its own holdings for the persons orHyperion Asset Management Limited, in its capacity as/or the dispoal of securities	4,232,711.00 Ordinary Fully Paid	4,232,711
Hyperion	Hyperion Flagship Investments LimitedCiticorp Nominees Pty Limited <A/C >	Hyperion Flagship Investments Limited	trusts listed beside its name, has the power to control voting andInvestment Manager or in its own holdings for the persons orHyperion Asset Management Limited, in its capacity asfor the dispoal of securities	131,000.00 Ordinary Fully Paid	131,000
Hyperion	Hyperion Small Growth CompaniesCiticorp Nominees Pty Limited <Fund A/C >	FundHyperion Small Growth Companies	trusts listed beside its name, has the power to control voting andInvestment Manager or in its own holdings for the persons orHyperion Asset Management Limited, in its capacity asfor the dispoal of securities	393,150.00 Ordinary Fully Paid	393,150
Hyperion	JP Morgan Chase Nominees Pty Ltd <Optimix Wholesale Australian ShareTrust A/C >	e TrustOptimix Wholesale Australian Shar	trusts listed beside its name, has the power to control voting andInvestment Manager or in its own holdings for the persons orHyperion Asset Management Limited, in its capacity asfor the dispoal of securities	5,960,902.00 Ordinary Fully Paid	5,960,902
Hyperion	Citicorp Nominees Ply Limited < KARU KARU Ply Ltd ATF Murdoch Family Trust No 1A/C >		trusts listed beside its name, has the power to control voting andInvestment Manager or in its own holdings for the persons orHyperion Asset Management Limited, in its capacity asor the dispoal of securities	35,570.00 Ordinary Fully Paid	35,570
Hyperion	National Nominees Ltd < MaritimeSuper Pty Ltd A/C >	Maritime Super Pty Ltd	trusts listed beside its name, has the power to control voting andInvestment Manager or in its own holdings for the persons orHyperion Asset Management Limited, in its capacity asfor the dispoal of securities	1,441,220.00 Ordinary Fully Paid	1,441,220
Hyperion	Citicorp Nominees Pty Limited < Scope Murdoch Investments Pty Ltd ATFInvestment Trust A/C >	The ScopeInvestment Trust	trusts listed beside its name, has the power to control voting andInvestment Manager or in its own holdings for the persons orHyperion Asset Management Limited, in its capacity asfor the dispoal of securities	8,357.00 Ordinary Fully Paid	8,357

SKY NETWORK TELEVISION LIMITED

;617 3020 3701

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106,952	643,616	2,0002,000.00 Ordinary Fully Paid	1,0001,000.00 Ordinary Fully Paid	20,103,615
106,952.00 Ordinary Fully Paid	643,616.00 Ordinary Fully Paid
trusts listed beside its name, has the power to control voting andInvestment Manager or in its own holdings for the persons orHyperion Asset Management Limited, in its capacity asfor the dispoal of securities	trusts listed beside its name, has the power to control voting andInvestment Manager or in its own holdings for the persons orHyperion Asset Management Limited, in its capacity as/or the dispoal of securities	trusts listed beside its name, has the power to control voting andInvestment Manager or in its own holdings for the persons orHyperion Asset Management Limited, in its capacity asfor the dispoal of securities	trusts listed beside its name, has the power to control voting andInvestment Manager or in its own holdings for the persons orHyperion Asset Management Limited, in its capacity asfor the dispoal of securities		This is Annexure "B" of 4 pages as mentioned in form 603 Notice of initial substantial holder
	Hyperion Ast Mgt - Aust Clients	Hyperion Ast Mgt - NZ Clients	Hyperion Ast Mgt - Japan Clients			DATE 11 April 2012
Individually Managed Accounts	HYPERION IMA	Hyperion_IMA_NZ	Hyperion_IMA_JP		$\frac{1}{2}$	Company Secretary
Hyperion	Hyperion	Hyperion	Hyperion		Signed by:	Capacity:

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;617 3020 3701

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SKY NETWORK TELEVISION LIMITED

Annexure C

From 10/10/2011 through 05/04/2012

SKT ASX

HYPERIOI ASSET MANAGEMENT

Security Code:

FromDate	ToDate	Custodial Entity	Person Whose Relevant Interest Changed	Nature ofChange	Consideration	Number ofSecurites
$10$ -Oct-11	05-Apr-12	AUSCOAL	Auscoal Superannuation Pty Ltd	BUY	1,592,372.28	386,045.00
10-Oct-11	05-Apr-12	COALMINING	Coal Mining (Long Service Leave) Funding Corporation	BUY	53,786.42	12,890.00
10-Oct-11	05-Apr-12	COINVEST	CoINVEST Limited	BUY	76,899.14	18,429.00
10-Oct-11	05-Apr-12	HYPSMALLGROWTH	Hyperion Small Growth Companies Fund	BUY	356,104.86	88,466.00
10-Oct-11	05-Apr-12	INGOPTIMIX	Optimix Wholesale Australian Share Trust	BUY	6,303,267.38	1,524,774.00
10-Oct-11	05-Apr-12	KARUHAMLAE	KARU Pty Ltd ATF Murdoch Family Trust No 1	SELL	-57,677.96	$-14,167.00$
10-Oct-11	05-Apr-12		Individually Managed Accounts	SELL	$-9,039.00$	$-2,300$
10-Oct-11	05-Apr-12	HYPERION IMA	Hyperion Ast Mgt - Aust Clients	BUY	84,253.00	21,600.00
10-Oct-11	05-Apr-12	Hyperion IMA NZ	Hyperion Ast Mgt - NZ Clients	BUY	6,595.49	2,000.00
10-Oct-11	05-Apr-12	Hyperion_IMA_JP	Hyperion Ast Mgt - Japan Clients	BUY	3,297,75	1,000.00

signed by: I'm / down

This is Annexure "C" of 1 page as mentioned in form 603 Notice of initial substantial holder

Capacity:

Company Secretary

Date 11 April 2012

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