GI Dynamics : Change in substantial holding from HHL

604_4

Holder of relevant interest	Registered holder of securities	Personentitled to be registered asholder(8)	Nature of relevant interest (6)	Classand number of securities	Person's votes
ANNEXURE 'B'

Date of change	Person whose relevant interest changed	Nature of change(6)	Consideration givenin relation to change(7)	Classand number of securities affected	Person's votes affected
ANNEXURE 'C'

Classof securities(4)	Previousnotice		Present notice
	Person's votes	Votingpower (5)	Person's votes	Votingpower (5)
SEE ANNEXURE 'B'	69,779,090	14.71%	75,779,090	15.98%

Form604 CorporationsAct 2001 Section 671B Notice of change of interests of substantial holder
To CompanyName/Scheme ACN/ARSN 1. Details of substantial holder(1) Name ACN/ARSN (if applicable)	GI Dynamics, Inc
	151 239 388
	SEE ANNEXURE 'A' ATTACHED TO THIS FORM
There wasa changein the interests of the substantial holder on 21 / 10/ 2015 Thepreviousnoticewasgivento thecompanyon 04 / 08/ 2015 Thepreviousnoticewasdated 04 / 08/ 2015 Previous and present voting power Changes in relevant interests Present relevant interests Thetotal number of votesattachedtoall thevotingsharesin thecompanyor votinginterests in thescheme that thesubstanti al holder or anassociate(2)hada relevant interest (3) inwhenlast required, andwhennow required, togiveasubstantial holdingnoticeto thecompanyor scheme, areasfollows: Particularsof eachchangein, or changein thenatureof, arelevant interest of thesubstantial holder or anassociate invo tingsecuritiesof thecompanyor scheme, sincethe substantial holder waslast requiredtogiveasubstantial holdingnoticeto thecompanyor schemeareasfollows: Particularsof eachrelevant interest of thesubstantial holder invotingsecuritiesafter thechangeareasfollows:

1. Changes in association

   Thepersonswhohavebecomeassociates(2)of, ceasedtobeassociatesof, or havechangedthenatureof their association(9) with, thesubstantial holder in relationtovoting interests in thecompanyor schemeareasfollows:

   
   

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

   
   

2. Addresses

Theaddressesof personsnamedin this formareasfollows:

Name	Address
ANNEXURE 'D'

Signature

print name Christina Seppelt

capacity

Company Secretary

sign here date

22 / 10

/ 2015

DIRECTIONS

1. If there area number of substantial holders withsimilaror relatedrelevant interests (eg. a corporationandits relatedc orporations, or themanager andtrusteeof an equity trust), thenamescouldbeincludedinanannexure to theform. If therelevant interestsof agroupof personsareess entiallysimilar, theymaybereferredto throughout the formasa specifically namedgroupif themembership of eachgroup, with thenamesandaddressesof members isc learly set out in paragraph6 of 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. Theperson'svotesdividedbythetotal votesin thebodycorporateor schememultipliedby100.

   
   

6. Includedetailsof:

7. anyrelevant agreement orother circumstancesbecauseof which thechangein relevant interest occurred. If subsection671B (4)applies, a copyof any document settingout the termsof anyrelevant agreement, anda statement by thepersongiving full andaccurate details of any contract, scheme or arrangement, must accompanythis form, together witha writtenstatement certifyingthiscontract, schemeor arrangement; and

   
   

8. 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.

   
   

9. Detailsof theconsiderationmust includeanyandall benefits,moneyandother, that anypersonfromwhoma relevant intere st wasacquiredhas, ormay, becom`e 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.

   
   

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

    
    

11. Givedetails, if appropriate, of thepresent associationandanychangein that associationsincethelast substantial holdi ngnotice.

HUNTER HALL INVESTMENT MANAGEMENT LTD (A.C.N. 063 081 612) ANNEXUR ES TO FORM 604‌ GI Dynamics Ltd




ANNEXUR E A:

Hunter Hall Investment Management Limited (A.C.N. 063 081 612)

Hunter Hall International Limited (A.C.N. 059 300 426) Hunter Hall Globa l Value Limited (A.C.N. 107 462 966)

Hampshire Assets & Services Pty Ltd (A.C.N. 059 790 395) Aubigny Investments Pty Limited (A.C.N. 156 613 026), Zeppelin Investments Pty Ltd (A.C.N. 122 550 369) and Peter James Hall




ANNEXUR E B:

Hol der of Relevant Interest	Person registered and entitle d to be Registered as Holder	Nature of relevant Interest	Class and Number of Shares
Hunter Ha ll Investment Management Ltd	JP Morgan Chase Bank, N.A. as the Custodian of the Hunter Hall Value Gro wth Trust, Hunter Hall Global Deep Green Trust, Hunter Hall High Conviction Equities Trust, and Hunter Hall Global Va lue Limited	Hunter Hall Investment Management Limited has the power to control the vote attached to the securities, and the power to e xerc ise control over the disposal of securities as: Responsible Entity for the Hunter Hall Va lue Growth Trust (34,253,115 ORD), Hunter Ha ll Global Deep Green Trust ( 2,976,411 ORD), Hunter Hall High Conviction Equities Trust (8,714,657 ORD) and Investment Manager for Hunter Hall Global Value Limited ( 25,134,907 ORD); and is an associate of the Hampshire Associates (4,700,000)	75,779,090 ORD
Hunter Ha ll International Limited	As above	Hunter Hall International Ltd has a relevant interest in the said securities, as it wholly owns Hunter Ha ll Investment Management Limited.	As above
Hampshire Assets & Services Pty Ltd, Aubigny Investments Pty Limited, Zeppelin Investments Pty Ltd and Peter James Hall (Ha mpshire Associates)	Watsons Bay Investments Pty Ltd	The Hampshire Associates has a relevant interest in the said securities as they hold approximately 44.64% of issued securities in Hunter Hall International Ltd. Hampshire Assets & Services Pty Limited, Aubigny Investments Pty Limited and Zeppelin Investments Pty Ltd are controlled by Peter James Hall. Hampshire Associates has an indirect interest in (4,700,000 ORD) directly held by an associate of Peter James Hall.	4,700,000 ORD
Hunter Ha ll Global Va lue Limited	As above	Hunter Hall Global Value Limited is managed pursuant to an investment management agreement by Hunter Hall Investment Management Ltd. ( 25,134,907 ORD)	25,134,907 ORD

ANNEXUR E C:

Person whose relevant interest changed: Hunter Hall Investment Management Limited Hunter Hall International Limited‌

Hunter Hall Globa l Value Limited

Hampshire Assets and Services Pty Ltd, Aubigny Investments Pty Limited, Zeppe lin Investments Pty Ltd and Peter James Hall

Peter James Hall







Date of Change	Nature of Change	No. of Shares Affe cte d	Conside ration Given in Relation to Change AUD	Cumulative
Ope ning Balance :	69,779,090
20-Oct-15	Purchase	1,300,000.00	33,884.50	71,079,090
Balance he ld as at 21st Octobe r 2015				75,779,090
% he ld as at 21st Octobe r 2015 base d onshares on issue 474,233,600				15.98%







ANNEXUR E D:

NAME	ADDRESS
Hunter Hall International Limited	Level 2, 56 Pitt Street SYDNEY NSW 2000
Hunter Hall Investment Management Limited	Level 2, 56 Pitt Street SYDNEY NSW 2000
Hunter Ha ll Global Va lue Limited	Level 2, 56 Pitt Street SYDNEY NSW 2000
Hampshire Associates	Level 2, 56 Pitt Street SYDNEY NSW 2000




These 2 pages comprise the Annexures A to D referred to in the Form, Notice of change in substanti al sharehol ding.




Christina Seppelt Company Secretary Dated 22/ 10/ 2015