604 page 1/2 15 July 2001

Form604

Corporations Act 2001

Section 6718

Notice of change of interests of substantial holder

IQ_ Company Name/Scheme E-Pay Asia Umiled

ACNIARSN ACN 089 227 887

1. Details of substantial holder(1)

Name

ACN/ARSN (if applicable)

Please refer to Annexure

There was a change in the interests of the substanttal holder on

The previous notice was given to the company on

The previous notice was dated

31 l12 12013

04 l12 12013

04 l 12 l 2013

2. Previous and present voting power

The tota! number of votes attached to ali 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 !ast required. and when now requfred. to give a substantial holding notice to the company or scheme. are as follows:

CJass of securities (4)

Previous notice

Present notice

Ordinary Shares

Person's votes

4,740,152

Vot!n ower 5

8.33%{Based on 56,930,320

Person's votes

5,316,100

Vot!n ower 5

9.34%{Based on 56,930,320

ordinary shares}

ordinary shares)

3. Changes in relevant interests

Particulars of each change in. or change in the nature of. a relevant interest of the substantialholder or an associate in votìng secunt1es of the company or scheme. since the substantial holder was last requìred to give a substantialholding notice to the company or scheme are as follows:

Date of change

Please referto

Person whose Nature of Consideration Class and relevant interest change (6) gìven in relation number of changed to change {7) securities

affected

nnexure

Person's votes affected

4. Present relevant interests

Particulars of each relevant interest of the substantialholder in votìng securities after the change are as fol!ows:

Holder of relevant interest

Registered holder of securities

Person entit!ed to be registered as holder (8)

Nature of relevant interest (6)

Class and number of securities

Person's votes

Please referto

nnexure

604 page 2/2 15 July 2001

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) wlth, the substan!ial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable)

Nature of association

Milingtonia Umited

By virtue of Section 12(2} of the Corporalions Acl2001 (Cth)

Cycas

By virtue of Section 12{2) ofthe Corporations Acl2001 (Cth)

6. Addresses

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

Name

Address

Milingtonia Limite

VanterpoolPlaza, 2nd Floor, Wickhams Cay 1, RoadTown, Tortola, British Virgin lslands

Cycas

IFS Court, TwentyEight, Cybercity, Ebene, Mauritius

Signature

print name Brahmal Vasudevan

i i l :

capacity Director

sign here

,'J»""-1 ,_,

!--

date 31 2013

DIRECTIONS

(1) lf 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. Ilthe relevant interests of a group of persons are essentia!ly 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 corporale 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. lf subsection 6718(4} applies, a copy of any document setting aut the terms of any relevant agreement. and a statement by the person giving full and accurate details of any contraci. 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. contro! the exercise of. or inf!uence the exercise of. the voting powers or disposalof the securit!es to which the relevant interest relates (lndicating clearly the particular securities to whlch 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 andali benefits.money and other. that any person from whom a relevant interest was acquired has, or may.becom'e entìtled to receive in relation to that acquisition. Details must be included even if the benefit is conditional an 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.
{B) lf 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.

ANNEXURE TO FORM 604 1. DETAILS OF SUBSTANTIAL HOLDER(S)

Milingtonia Limited, Cycas, Creador l LLC, Creador Il LLC, Creador Management Company l Limited ("CMC 1"), Creador Management Company Il Limited

("CMC Il"), Brahmal Vasudevan ("BV").

BV is the controlling shareholder of CMC l and CMC Il, which respectively manage Creador l LLC and Creador Il LLC, which in turn respectively holds 100%

of Milingtonia Limited and Cycas.

3. CHANGE IN RELEVANT INTERESTS

Date of Change

Persons whose relevant interest changed

Nature of Change

Consideration given in

relation to change

Class and number of securities affected

Person's votes affected

04 December 2013

Cycas

Acquisition of a relevant interest by virtue of section 608 of the Corporations Acl 2001 (Cth) following the acquisition of the securities on ASX

$0.6868 per share

17,928 ordinarv shares

17,928

06 December 2013

Cycas

Acquisition of a relevant interest by virtue of section 608 of the Corporations Acl 2001 (Cth) following the acquisition of the securities on ASX

$0.6863 per share

363,801 ordinary shares

363,801

09 December 2013

Cycas

Acquisition of a relevant interest by virtue of section 608 of the Corporations Acl 2001 (Cth) following the acquisition of the securities on ASX

$0.6983 per share

72,054 ordinary shares

72,054

10 December 2013

Cycas

Acquisition of a relevant interest by virtue of section 608 of the Corporations Acl 2001 (Cth) following the acquisition of the securities on ASX

$0.6800 per share

507 ordinary shares

507

11 December 2013

Cycas

Acquisition of a relevant interest by virtue of section 608 of the Corporations Acl 2001 (Cth) following the acquisition of the securities on ASX

$0.6500 per share

24,600 ordinary shares

24,600

16 December 2013

4. PRESENT RELEVANT INTERESTS

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