TIVAN LIMITED — Major Shareholding Notification 2019

Jun 18, 2019

Form 603

Corporations Act 2001 Section 671B

Notice of initial substantial holder

To Company Name/Scheme	TNG Limited
ACN/ARSN	12 000 817 023

1. Details of substantial holder (1)

	Deutsche Balaton Aktiengesellschaft, Heidelberg, Germany
	VV Beteiliqungen Aktiengesellschaft, Heidelberg, Germany
	DELPHI Unternehmensberatung Aktiengesellschaft, Heidelberg, Germany
	Wilhelm K.T. Zours, Heidelberg, Germany

The holder became a substantial holder on 17/06/2019

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 ordinary shares	108,576,882	108,576,882	10.14%

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
Sparta AG	Registered Holder	ordinary shares, 65,000,000
Deutsche Balaton Aktiengesellschaft	Major Shareholder of Sparta AG	ordinary shares, 65,000,000
VV Beteiliqungen Aktiengesellschaft	Major Shareholder of Deutsche Balaton Aktiengesellschaft	ordinary shares, 65,000,000
DELPHI Unternehmensberatung Aktiengesellschaft	Registered Holder, Holding Company of VV Beteiligungen Aktiengesellschaft	ordinary shares, 108,576,882
Wilhelm K.T. Zours	Major Shareholder of DELPHI Unternehmensberatung Aktiengesellschaft	ordinary shares, 108,576,882

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 relevant interest	Registered holder of Securities	Person entitled to be	Class and number of securities
Sparta AG	Sparta AG	registered as holder (8)	ordinary shares, 65,000,000
Deutsche Balaton Aktiengesellschaft	Sparta AG		ordinary shares, 65,000,000
VV Beteiligungen Aktiengesellschaft	Sparta AG		ordinary shares, 65,000,000
DELPHI Unternehmensberatung Aktiengesellschaft	Sparta AG, DELPHI Unternehmensberatung Aktiengesellschaft		ordinary shares, 108,576,882
Wilhelm K.T. Zours	Sparta AG, DELPHI Unternehmensberatung Aktiengesellschaft		ordinary shares, 108,576,882

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 relevant interest	Date of acquisition	Consideration (9)		Class and number of securities
		Cash	Non-cash
DELPHI	17/04/2019			ordinary shares,
Unternehmensberatung		$$0.094$ per share		100,000
Aktiengesellschaft
DELPHI	24/04/2019			ordinary shares,
Unternehmensberatung		$$0.120$ per share		650,000
Aktiengesellschaft
DELPHI	01/05/2019			ordinary shares,
Unternehmensberatung		$$0.115$ per share		300,000
Aktiengesellschaft
Sparta AG	17/06/2019	$$0.093$ per share		ordinary shares, 65,000,000
DELPHI				ordinary shares,
Unternehmensberatung	17/06/2019	$$0.093$ per share		42,526,882
Aktiengesellschaft

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)	Nature of association
Deutsche Balaton	Deutsche Balaton Aktiengesellschaft is the major shareholder of
Aktiengesellschaft	Sparta AG.
VV Beteiligungen	VV Beteiligungen Aktiengesellschaft is the major shareholder of
	Deutsche Balaton Aktiengesellschaft. Deutsche Balaton
Aktiengesellschaft	Aktiengesellschaft is the major shareholder of Sparta AG.
	DELPHI Unternehmensberatung Aktiengesellschaft is the only
DELPHI	shareholder of VV Beteiligungen Aktiengesellschaft. VV
Unternehmensberatung	Beteiligungen Aktiengesellschaft is the major shareholder of
Aktiengesellschaft	Deutsche Balaton Aktiengesellschaft. Deutsche Balaton
	Aktiengesellschaft is the major shareholder of Sparta AG.
	Mr. Zours is the major shareholder of DELPHI
	Unternehmensberatung Aktiengesellschaft. DELPHI
	Unternehmensberatung Aktiengesellschaft is the only shareholder
Wilhelm K.T. Zours	of VV Beteiligungen Aktiengesellschaft. VV Beteiligungen
	Aktiengesellschaft is the major shareholder of Deutsche Balaton
	Aktiengesellschaft. Deutsche Balaton Aktiengesellschaft is the
	major shareholder of Sparta AG.

7. Addresses

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

Name	Address
Sparta AG	Brook 1, 20457 Hamburg, Germany
Deutsche Balaton Aktiengesellschaft	Ziegelhäuser Landstrasse 1, 69120 Heidelberg, Germany
VV Beteiliqungen Aktiengesellschaft	Ziegelhäuser Landstrasse 1, 69120 Heidelberg, Germany
DELPHI Unternehmensberatung Aktiengesellschaft	Ziegelhäuser Landstrasse 1, 69120 Heidelberg, Germany
Wilhelm K.T. Zours	69120 Heidelberg, Germany

Signature

DIRECTIONS

• If there are a number of substantial holders with similar or related relevant interests (eq. 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. $(2)$
• See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001. $(3)$
• $(4)$ The voting shares of a company constitute one class unless divided into separate classes.
• 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 disposal $(b)$ 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 acquired $(9)$ 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.