FORM 604 NOTICE OF CHANGE OF SUBSTANTIAL SHAREHOLDER QUESTE COMMUNICATIONS LTD A.B.N. 58 081 688 164

Form 604

Corporations Act

671B

Notice of change in interests of substantial holder


To: Company Name/Scheme: QUESTE COMMUNICATIONS LTD (QUE)

ABN 58 081 688 164

1. Details of substantial holder(1)

Name MR AZHAR CHAUDHRI RENMUIR HOLDINGS LIMITED

CHI TUNG INVESTMENTS LTD

ACN/ARSN (if applicable) Not Applicable

There was a change in the interests of the substantial holder on 21 January 2014

The previous notice was given to the company on 1 May 2012

The previous notice was dated 1 May 2012

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 a 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

Number of securities

Person's votes

Voting power(5)

Number of securities

Person's Voting power(5)

Voting power(5)

Ordinary

Shares

5,235,230

5,235,230

17.49%

5,235,230

5,235,230

18.32%

Partly Paid

Shares

20,000,000

1,522,500

5.09%

10,000,000

761,250

2.66%

Partly Paid

Shares

(issued at 20 cents and partly paid to 1.5225 cents each)

(issued at 20 cents and partly paid to 1.5225 cents each)

TOTAL

6,757,730

22.58%

5,996,480

20.98%

Based on QUE total voting power

29,927,379

28,578,566

Based on QUE total voting power

(comprising 28,404,879 fully paid ordinary shares and 20,000,000 partly paid shares (paid to 1.5225 cent per share with 18.4775 cents per share unpaid, which is equivalent to 1,522,500 voting shares))

(comprising 27,817,316 fully paid ordinary shares and 20,000,000 partly paid shares (paid to 1.5225 cent per share with 18.4775 cents per share unpaid, which is equivalent to 761,250 voting

shares)) (a)

Note (a): Refer QUE ASX market announcement dated 22 January 2014: Results of Equal Access Buy-Back and Appendix 3F - Final Buy Back Notice.

3. Changes 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:

Date of change

Person whose

relevant interest changed

Nature of change(6)

Consideration

given in relation to change(7)

Class and number

of securities affected

Person's votes

affected

Date of change

Person whose

relevant interest changed

Nature of change(6)

Consideration

given in relation to change(7)

Ordinary Shares

9/07/2008

CHI TUNG

Pursuant to acceptance into the

QUE Equal Access Scheme Share Buy-Back(b) and cancellation of shares thereunder.

$50,000

10,000,000 partly

paid shares

761,250

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20140122 QUE Change of Sub Shh Notice - Azhar Chaudhri Ors

Note (b): Equal access scheme share buy-back pursuant to:

Section 257B(2) of the Corporations Act;

Shareholder approval at QUE's 2013 AGM - refer Information Memorandum containing the Notice of AGM, Explanatory Statement and

Independent Expert's Report dated 23 October 2013; and

QUE Share Buy-Back Offer Bookletdated 11 December 2013.

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)

Number of securities

Class of securities

The persons named in (1) above

Azhar Chaudhri

Azhar Chaudhri

Legal and beneficial holder of shares

907,450

Ordinary Shares

The persons named in (1) above

Renmuir

Renmuir

Legal and beneficial holder of shares

3,277,780

Ordinary Shares

The persons named in (1) above

Chi Tung

Chi Tung

Legal and beneficial holder of shares

1,050,000

Ordinary Shares

The persons named in (1) above

Chi Tung

Chi Tung

Legal and beneficial holder of partly paid shares

10,000,000 (representing a voting power in

1,522,500 shares)

Partly Paid Shares (issued at 20c each and partly paid to 1.5225 cent each)

5. Changes in association

The persons who have become associates(2) of, ceased to be associates of, or have change 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/ARSN (if applicable)

Nature of association

-

-

6. Addresses

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

Name

Address

Azhar Chaudhri

175A Sarwar Road, Rawalpindi, PAKISTAN

Renmuir Holdings Ltd (Renmuir)

7th Floor, Allied Kajima Building, 138 Gloucester Road, HONG KONG

Chi Tung Investments Ltd (Chi Tung)

7th Floor, Allied Kajima Building, 138 Gloucester Road, HONG KONG

Signature

print name AZHAR CHAUDHRI capacity Personally and on behalf of Renmuir and Chi Tung

sign here date 22 January 2014



(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 7 of the form.
(2) See the definition of "associate" in section 9 of the Corporations Act.
(3) See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act. (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 circumstance 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.
(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) Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

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