TIVAN LIMITED — Major Shareholding Notification 2019

May 7, 2019

Form 604

Corporations Act 2001 Section 671B

Notice of Change of Interests of Substantial Holder

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

1. Details of substantial holder (1)

Name		V. M. Salgaocar & Bro. (Singapore) Pte. Ltd.
ACN/ARSN (if applicable)	Registration No. 201723947M
There was a change in the interests of the substantial holder on		07/05/2019
The previous notice was given to the company on		01/10/2018
The previous notice was dated		01/10/2018

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) 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
	Person's votes	Voting power (5)	Person's votes	Voting power (5)
Ordinary Shares	93.757.203	10.13%	110,692,082	11.49%

Changes in relevant interests $3.$

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 of Change	Person whose relevant interest changed	Nature of change (6)	Consideration given in relation to change (7)	Class and number of securities affected	Person's votes affected
12/11/2018	V. M. Salgaocar & Bro. (Singapore) Pte. Ltd.	Dilution of interest due to TNG Share Purchase Plan issue	N/A	N/A	N/A
14/12/2018	V. M. Salgaocar & Bro. (Singapore) Pte. Ltd	Increase in interest due to issue of placement tranche two shares	\$249,250.98	Ordinary shares 2.396.644	2.396,644
07/05/2019	V. M. Salgaocar & Bro. (Singapore) Pte. Ltd	Increase in interest due to on-market acquisition of TNG Share Plan shares	\$1,235,749.98	Ordinary shares 14,538,235	14.538.235

Present relevant interests 4.

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

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder $(8)$	Nature of relevant interest $(6)$	Class and number of securities	Person's votes
V. M. Salgaocar & Bro. (Singapore) Pte. Ltd.	V. M. Salgaocar & Bro. (Singapore) Pte. Ltd.	V. M. Salgaocar & Bro. (Singapore) Pte. Ltd.	Registered holder	Ordinary shares 110.692.082	110,692,082

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 fo

Name and ACN/ARSN (if applicable)	Nature of association
N/A	N/A

Addresses 6.

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

Name	Address
V. M. Salgaocar & Bro. (Singapore) 98A Amoy Street Singapore 069918 Pte. Ltd

Signature

print name	Vivek Salgaocar	capacity	Director
sign here	"Mydern	date	08/05/2019