Regal Investment Fund : Ceasing to be a substantial holder

Form 605

Corporations Act 2001

Section 671B

Notice of ceasing to be a substantial holder

Name	Address
See Annexure 4

To Company Name/Scheme

Regal Investment Fund (RF 1)

ACN/ARSN

632 283 384

1. Details of substantial holder (1)

Name

Holders listed in Annexure 1

ACN/ARSN (if applicable)

The holder ceased to be a substantial holder on 20/4/22

The previous notice was given to the company on 8/11/21

The previous notice was dated 8/11/21

2. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3) 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 (4)	Consideration given in relation to change (5)	Class (6) and number of securities affected	Person's votes affected
See Annexure 2

3. Changes in association

The persons who have become associates (3) of, ceased to be associates of, or have changed the nature of their association (7) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable)	Nature of association
See Annexure 3

4. Addresses

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

Signature

print name

See below

capacity

605

Page 2 of 3 15 July 2001

David Gore

P D King

22/04/2022

sign here

date

Philip King

Andrew King

22.04.22

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 4 of the form.

• (2) See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.

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

• (4) 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.

• (5) 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.

• (6) The voting shares of a company constitute one class unless divided into separate classes.

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

ANNEXURE 1

This is annexure 1 of 1 page referred to in form 605 Notice of ceasing to be a substantial holder

• 1. Andrew King;

• 2. Philip King;

• 3. David Gore;

• 4. Pamela King;

• 5. New Highland Pty Ltd (ACN 121 604 500);

• 6. Kavoca Pty Ltd (ACN 129 824 460); and

• 7. Regal Funds Management Pty Ltd (ACN 107 576 821).

ANNEXURE 2

This is annexure 2 of 1 page referred to in form 605 Notice of ceasing to be a substantial holder

There has been no sale or other disposal of interests in the Regal Investment Fund (RF1) by The Regal Foundation or any of its prior associates, including Philip King and entities controlled by him.

On 20 April 2022, the trustees of The Regal Foundation (Andrew King, Philip King and David Gore) resigned and were replaced with a new corporate trustee, Ficus Fiduciary Limited. In addition, New Highland Pty Limited was restructured.

As a result of the restructures:

• • Andrew King, Philip King, David Gore, Pamela King, New Highland Pty Limited, Kavoca Pty Limited and Regal Funds Management Pty Limited are no longer associates of The Regal Foundation (via its trustee, Ficus Fiduciary Limited); and

• • none of the persons above (excluding the Regal Foundation) and their associates has a combined relevant interest of more than 5%.

Holder of relevant interest	Nature of change	Consideration given in relation to change	Class and number of securities affected	Person's votes affected
Philip King	Ceased as trustee of The Regal Foundation	N/A	16,093,597 ordinary units	16,093,597 votes
David Gore	Ceased as trustee of The Regal Foundation	N/A	16,093,597 ordinary units	16,093,597 votes
Andrew King	Ceased as trustee of The Regal Foundation	N/A	23,261,226 ordinary units	23,261,226 votes