Thorney Opportunities : Becoming a substantial holder for HUB

THORNEY OPPORTUNITIES LTD

ACN 080 167 264

CROSS RELEASE ASX: HUB

15 January 2021

BY ASX ONLINE - 5 pages

Manager Company Announcements

ASX Limited

Level 10

20 Bond Street

SYDNEY 2000

Dear Sir/Madam,

Notice of initial substantial holder

HUB24 Limited [ASX:HUB]

Following is a Form 603 Notice of initial substantial holder dated 15 January 2021 in accordance with section 671B of the Corporations Act.

Please note that this notice was not lodged within 2 business days of 5 November 2020 as required due to administrative oversight. The Investment Manager has conducted a review of its internal procedures and systems and identified areas of improvement which is expected to prevent the issue from occurring again.

Yours sincerely,

CRAIG SMITH ACIS, CPA

Secretary

Level 39, 55 Collins Street, Melbourne Vic 3000

Telephone + 61 3 9921 7116 Facsimile + 61 3 9921 7100

Form 603

Corporations Act 2001

Section 671B

Notice of initial substantial holder

To: company name/s HUB24 LTD

ABN 87 124 891 685

1. Details of substantial holder

Name THORNEY OPPORTUNITIES LTD and each of the entities listed in the attached Annexure 'A' to this notice.

ACN (if applicable) 080 167 264

The holder became a substantial holder on

5-Nov-20

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 had a relevant interest in on the date the substantial holder became of substantial holder are as follows:

Class of Securities	Number of securities	Person's votes	Voting power
Fully paid ordinary shares	5,806,797	5,779,078	8.63%

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		Number and class of securities
	Thorney Opportunities Ltd	Beneficial owner of voting shares		52,281 ordinary shares
	Associates:
		Beneficial owner of voting shares		5,150,297 ordinary shares
	Thorney Investment Group
	Deemed relevant interest in shares held by		52,281 ordinary shares
		Thorney Opportunities Ltd by virtue of section
		608(3)(b) of the Corporations Act 2001
	Jasforce Pty Ltd	Beneficial owner of voting shares		576,500 ordinary shares

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		Person entitled to be		Number and class of
			securities		registered as holder		securities
	Thorney Opportunities Ltd		UBS Nominees Pty Ltd		Thorney Opportunities Ltd		52,281 ordinary shares
			UBS Nominees Pty Ltd		TIGA Trading Pty Ltd		351,797 ordinary shares
	Thorney Investment Group		HSBC Custody Nominees		Thorney Holdings		4,798,500 ordinary shares
		(Australia) Ltd		Proprietary Limited
			UBS Nominees Pty Ltd		Thorney Opportunities Ltd		80,000 ordinary shares
	Jasforce Pty Ltd		Jasforce Pty Ltd		Jasforce Pty Ltd		576,500 ordinary shares

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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		Cash consideration		Number and class of securities
	TIGA Trading Pty Ltd		5-Nov-20		$Nil		162,537 ordinary shares
	Thorney Opportunities Ltd			$20.00 per share		125,000 ordinary shares
	TIGA Trading Pty Ltd				$Nil		1,500 ordinary shares
	Thorney Holdings Pty Ltd		30-Nov-20		$Nil		1,500 ordinary shares
	Jasforce Pty Ltd				$Nil		1,500 ordinary shares
	Thorney Opportunities Ltd		08-Jan-21		$22.50 per share		431 ordinary shares
	Thorney Opportunities Ltd		11-Jan-21		$22.50 per share		24,004 ordinary shares
	Thorney Opportunities Ltd		14-Jan-21		$22.54 per share		20,565 ordinary shares
	Thorney Opportunities Ltd		15-Jan-21		$23.13 per share		27,719 ordinary shares

6. Associates

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

Name	Nature of association

Under the Corporations Act 2001 the entities listed in Annexure A are deemed Refer associated entities details in Annexure A associates of Thorney Opportunities Ltd in relation to the investment in HUB24

Limited

7. Addresses

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

Name	Address
Thorney Opportunities Ltd	Level 39, 55 Collins Street, Melbourne 3000
Associated entities	Refer Annexure 'A'

Signature

Print name	CRAIG SMITH ACIS, CPA	Capacity SECRETARY
Sign here		Date 15 January 2021

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ANNEXURE 'A'

This is Annexure A referred to in the Form 603 Notice of initial substantial holder signed by me and dated 15 January 2021.

.........................................

CRAIG SMITH

Secretary

ASSOCIATED ENTITIES DETAILS

	Entity		Address
	Thorney Investment Group
	Jamahjo Pty Ltd, ACN 117 488 696		c/- Wilson Pateras, Ground Floor, 40 River Boulevard,
		Richmond 3121
	Thistle Custodians Pty Ltd, ACN 078 027 193		Level 39, 55 Collins Street, Melbourne 3000
	Thistle Holdings Pty Ltd, ACN 075 051 464		Level 39, 55 Collins Street, Melbourne 3000
	Thorney Alpha Pty Ltd, ACN 162 820 537		Level 39, 55 Collins Street, Melbourne 3000
	Thorney Beta Pty Ltd, ACN 162 828 677		Level 39, 55 Collins Street, Melbourne 3000
	Thorney Holdings Pty Ltd, ACN 006 262 835		Level 39, 55 Collins Street, Melbourne 3000
	Thorney International Pty Ltd, ACN 132 886 698		Level 39, 55 Collins Street, Melbourne 3000
	Thorney Investment Group Australia Pty Ltd,		Level 39, 55 Collins Street, Melbourne 3000
	ACN 117 488 892
	Thorney Management Services Pty Ltd, ACN 164 880 148		Level 39, 55 Collins Street, Melbourne 3000
	Thorney Omega Pty Ltd, ACN 163 964 636		Level 39, 55 Collins Street, Melbourne 3000
	Tiga Property Pty Ltd, ACN 117 811 453		Level 39, 55 Collins Street, Melbourne 3000
	Tiga (Ballarat) Pty Ltd, ACN 117 812 030		Level 39, 55 Collins Street, Melbourne 3000
	Tiga Finance Pty Ltd, ACN 118 521 412		Level 39, 55 Collins Street, Melbourne 3000
	Tiga (Hawthorn) Pty Ltd, ACN 126 952 663		Level 39, 55 Collins Street, Melbourne 3000
	Tiga Tails Pty Ltd, ACN 080 534 416		Level 39, 55 Collins Street, Melbourne 3000
	Tiga Trading Pty Ltd, ACN 118 961 210		Level 39, 55 Collins Street, Melbourne 3000
	Other Associates
	Jasforce Pty Ltd, ACN 007 167 713		c/- Wilson Pateras, Ground Floor, 40 River Boulevard,
		Richmond 3121

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