VERBREC LIMITED — Major Shareholding Notification 2020

Mar 1, 2020

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Date: 2 March 2020 To: Company Announcements Office Company: Australian Stock Exchange Fax number: +61 2 9347 0005 From: Steven Johnson Contact number: 02 8305 6050 Pgs (inc cover): 3

FORM 604 - NOTICE OF CHANGE OF INTERESTS OF SUBSTANTIAL HOLDER

We attach a change of interests of substantial holder notice with regards to our interest in shares in LogiCamms Limited (LCM).

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Steven Johnson Director

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Forager Funds Management P: +61 (0) 2 8305 6050 Level 14, 56 Pitt St W foragerfunds.com Sydney, NSW, 2000

Form 604

Corporations Act 2001

Section 671B NOTICE OF CHANGE OF INTERESTS OF SUBSTANTIAL HOLDER

To LogiCamms Limited (ASX Code: LCM) ACN/ARSN 007 634 406

1. Details of substantial holder (1)

Name Forager Funds Management Pty Ltd ABN 78 138 351 345

There was a change in the interests of the substantial holder on 26 / 02 / 2020 The previous notice was dated 02 / 07 / 2019 The holder became a substantial holder on 04 / 06 / 2015

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 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
	Person's votes	Voting power(5)	Person's votes	Voting power(5)
OrdinaryShares	11,723,964	5.84%	14,293,724	7.11%

3. Details 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 a substantial holding notice to the company or scheme are as follows:

Person whose relevant interest changed	Nature of change (6)	Date	Consideration given in relation to change (7)	Class and number of securities affected (ordinary shares)	Person's votes affected
Forager Funds Management Pty Ltd	On-market purchase	28-Feb-20	82,150	500,000	500,000
		26-Feb-20	59,990	350,000	350,000
		25-Feb-20	41,771	237,333	237,333
		24-Feb-20	493	2,667	2,667
		17-Feb-20	114,391	615,667	615,667
		4-Feb-20	22,356	115,000	115,000
		24-Jan-20	13,383	70,437	70,437
		16-Jan-20	9,098	46,656	46,656
		13-Jan-20	5,051	25,900	25,900
		8-Jan-20	3,900	20,000	20,000
		7-Jan-20	8,015	41,100	41,100
		4-Dec-19	8,451	45,000	45,000
		9-Oct-19	47,446	221,046	221,046
		30-Sep-19	8,400	40,000	40,000
		27-Sep-19	11,423	54,396	54,396
		25-Sep-19	3,477	16,558	16,558
		4-Sep-19	35,179	168,000	168,000

4. Present relevant interests

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
Forager Funds Management Pty Ltd	JP Morgan Nominees Australia Limited as custodian of the Forager Australian Shares Fund ARSN 139 641 491	The Trust Company (RE Services) Limited as responsible entity of the Forager Australian Shares Fund ARSN 139 641 491	Power to (or to control) exercise vote on 14,293,724 fully paid ordinary shares and/or dispose of the securities as investment manager of the Forager Australian Shares Fund	14,293,724 ordinary shares	7.11%

5. Changes in association

The person 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:

Name and ACN/ASRN (if applicable) Name of association

6. Addresses

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

Name	Address
LogiCamms Limited	Level 14, 200 Mary Street, Brisbane, QLD, Australia, 4000
Forager Funds Management Pty Ltd	Level 14, 56 Pitt St, Sydney, NSW, Australia, 2000
The Trust Company (RE Services) Limited	Angel Place, 123 Pitt Street, Sydney, NSW, Australia

Signature

Print name: Steven Johnson Capacity: Director Signature: Date: 2 March 2020

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.

(2) See the definition of "associate" in section 9 of the Corporations Act 2001.

(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:

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

(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, 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.

(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".

(9) Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.