Notice of initial substantial holder

603 page 1/2 15 July 2001

603 page 2/2 15 July 2001

1. Associates

   Thereasonsthepersonsnamed in paragraph3 aboveare associatesof thesubstantial holder are as follows:

   Name andACN/ARSN (if applicable)	Nature of association
   SEE ANNEXURE A

2. Addresses

Theaddressesof personsnamedin this formareasfollows:

print name

Mr. C. GIL

capacity

DIRECTOR

sign here date

27/

10 /16

DIRECTIONS

1. If thereareanumber of substantial holders withsimilaror relatedrelevant interests (eg. acorporationandits relatedc orporations, or the manager andtrusteeof an equity trust), thenamescouldbeincludedinanannexure to theform. If therelevant interestsof agroupof personsareess entiallysimilar, theymaybereferredto throughout theformasaspecificallynamedgroupif themembershipof eachgroup, with thenames andaddressesof members is clearlyset out inparagraph7of the form.

2. See thedefinitionof "associate" in section9 of theCorporationsAct 2001.

3. See thedefinitionof "relevant interest" in sections608and671B(7)of theCorporationsAct 2001.

4. Thevotingsharesof acompanyconstituteoneclassunlessdividedintoseparateclasses.

5. Thetotal number of votesattachedtoall thevotingsharesin thecompanyor votinginterests in thescheme(if any)that t hepersonor anassociatehasa relevant interest in.

6. Theperson'svotesdividedbythetotal votesin thebodycorporateor schememultipliedby100.

7. Includedetailsof:

8. anyrelevant agreement orother circumstancesbywhichtherelevant interest wasacquired. If subsection671B(4)applies, a copyof anydocument settingout the termsof anyrelevant agreement, anda statement by thepersongiving full andaccurate details of anycontract, scheme or arrangement, must accompany this form, together witha writtenstatement certifyingthiscontract, schemeor arrangement; and

9. anyqualificationof thepower of apersontoexercise, control theexerciseof, or influencetheexerciseof, thevotingpo wersor disposal of thesecuritiesto whichtherelevant interest relates(indicatingclearly theparticular securitiestowhichthequalificationapplies).

   See thedefinitionof "relevant agreement" in section9 of theCorporationsAct 2001.

10. If thesubstantial holder isunable todeterminetheidentityof theperson(eg. if therelevant interest arisesbecauseof anoption)write "unknown".

11. Detailsof theconsiderationmust includeanyandall benefits,moneyandother, that anypersonfromwhoma relevant intere st wasacquiredhas, ormay, become entitledto receivein relationto that acquisition. Detailsmust beincludedevenif thebenefit isconditional onthehappen ingor not of acontingency. Detailsmust be includedof anybenefit paidonbehalf of thesubstantial holder or itsassociate inrelationto theacquisitions, evenif they arenot paiddirectly to thepersonfromwhom therelevant interest wasacquired.

12. "ANNEXURE A" THIS IS "ANNEXURE A" OF 2 PAGES REFERRED TO IN FORM 603 NOTICE OF INITIAL SUBSTANTIAL HOLDER RECKON LIMITED (RKN) ACN 003 348 730
13. 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 (7)	Class and number of securities
    MICROEQUITIES ASSET MANAGEMENT PTY LTD	AS TRUSTEE & INVESTMENT MANAGER	5,689,261 ORDINARY

14. 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 securities	Person entitled to be registered as holder (8)	Class and number of securities
    MICROEQUITIES ASSET MANAGEMENT PTY LTD	JP MORGAN CHASE BANK	JP MORGAN CHASE BANK	5,689,261 ORDINARY

15. 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	Consideration (9)	Class and number of securities
    MICROEQUITIES ASSET MANAGEMENT PTY LTD	17/04/2015 27/10/2016	$1.63 average	5,689,261 ORDINARY

16. Associates

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

    Name and ACN/ARSN (if applicable)	Nature of association
    JP MORGAN CHASE BANK	JP MORGAN CHASE BANK IS THE CUSTODIAN OF MICROEQUITIES' FUNDS

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17. Addresses

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

Name	Address
RECKON LIMITED (RKN)	LEVEL 12, 65 BERRY STREET NORTH SYDNEY NSW 2060
MICROEQUITIES ASSET MANAGEMENT PTY LIMITED	SUITE 302, 17 CASTLEREAGH STREET SYDNEY NSW 2000
JP MORGAN CHASE BANK	85 CASTLEREAGH STREET SYDNEY NSW 2000

_____ Signature: _ Name: Mr. C. Gil Capacity: Director Date: 27/10/2016

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