Change in substantial holding
Released
Released
Announcement PDF
Form 604 – Notice of change of interests of substantial holder – page 1
ASIC Form 604 (15 July 2018 version)
Form 604
Corporations Act 2001
Section 671B
Notice of change of interests of substantial holder
To Company Name/Scheme Wisr Limited
ACN/ARSN ACN 004 661 205
1. Details of substantial holder (1)
Name Jeremy Michael Kersten Raper and Rangeley Capital LLC (together, the
Substantial Holders, see Annexure A)
ACN/ARSN (if applicable) N/A
There was a change in the interests of the substantial
holder on
09 / 11 / 2026
The previous notice was given to the company on 29 / 09 / 2026
The previous notice was dated 29 / 09 / 2026
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
Person’s votes Voting power (5) Person’s votes Voting power (5)
Fully paid ordinary shares 88,200,000 5.10% 203,206,097 11.53%
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) Class and
number of
securities
affected
Average
price
(A$)
Consideration
given in
relation to
change (7) –
Cash (A$)
Person’s
votes affected
01/10/2026 to
30/10/2026
Jeremy Michael
Kersten Raper
On-market purchases of
fully paid ordinary shares
on ASX
Fully paid
ordinary
shares –
6,000,000
0.0355 213,000 6,000,000
03/11/2026 to
07/11/2026
Rangeley Capital
LLC (registered in
the name of
Citicorp Nominees
Pty Limited); and
Jeremy Michael
Kersten Raper as
its associate
On-market purchases of
fully paid ordinary shares
on ASX. On 03/11/2026
Rangeley Capital LLC
became an associate of
Jeremy Michael Kersten
Raper (see section 5) and
each became entitled to the
relevant interests of the
other.
Fully paid
ordinary
shares –
2,773,720
0.037000 102,628 2,773,720
Form 604 – Notice of change of interests of substantial holder – page 2
Date of change Person whose
relevant interest
changed
Nature of change (6) Class and
number of
securities
affected
Average
price
(A$)
Consideration
given in
relation to
change (7) –
Cash (A$)
Person’s
votes affected
09/11/2026 Rangeley Capital
LLC (registered in
the name of
Citicorp Nominees
Pty Limited); and
Jeremy Michael
Kersten Raper as
its associate
Purchase of fully paid
ordinary shares –
106,131,470 shares by
special crossing on ASX
and 100,907 shares on-
market
Fully paid
ordinary
shares –
106,232,377
0.038 4,036,830 106,232,377
Rangeley
Capital LLC –
total
Fully paid
ordinary
shares –
109,006,097
0.037975 4,139,458 109,006,097
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) Class and
number of
securities
Person’s
votes
Jeremy Michael
Kersten Raper
Jeremy Michael
Kersten Raper
Jeremy Michael
Kersten Raper
Beneficial owner of the shares Fully paid
ordinary shares
– 94,200,000
94,200,000
Rangeley Capital
LLC
Citicorp Nominees
Pty Limited
Rangeley Capital
LLC
Investment manager with power to
control the exercise of the voting
rights attached to, and the disposal
of, the shares under its investment
management arrangements. The
shares are registered in the name
of Citicorp Nominees Pty Limited
as custodian.
Fully paid
ordinary shares
– 109,006,097
109,006,097
Jeremy Michael
Kersten Raper
Citicorp Nominees
Pty Limited
Rangeley Capital
LLC
Portfolio manager of Rangeley
Capital LLC responsible for its
investment in the company; has
power to control the exercise of the
voting rights attached to, and the
disposal of, the shares and is taken
to have the relevant interests of his
associate Rangeley Capital LLC.
See Annexure A.
Fully paid
ordinary shares
– 109,006,097
109,006,097
Rangeley Capital
LLC
Jeremy Michael
Kersten Raper
Jeremy Michael
Kersten Raper
Taken to have the relevant
interests of its associate Jeremy
Michael Kersten Raper. See
Annexure A.
Fully paid
ordinary shares
– 94,200,000
94,200,000
Form 604 – Notice of change of interests of substantial holder – page 3
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) 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
Rangeley Capital LLC (a limited liability
company organised in Delaware, USA)
Rangeley Capital LLC became an associate of Jeremy Michael Kersten Raper on
03/11/2026. Mr Raper is a portfolio manager of Rangeley Capital LLC and, in that
capacity, directs the investment in the company made by Rangeley Capital LLC and
has power to control the exercise of the voting rights attached to, and the disposal of,
the shares held by it. Mr Raper and Rangeley Capital LLC are accordingly acting in
concert in relation to the affairs of the company and are associates under section
12(2)(c) of the Corporations Act 2001. See Annexure A.
Jeremy Michael Kersten Raper Jeremy Michael Kersten Raper became an associate of Rangeley Capital LLC on
03/11/2026 for the reasons set out above (section 12(2)(c) of the Corporations Act
2001).
6. Addresses
The addresses of persons named in this form are as follows:
Name Address
Jeremy Michael Kersten Raper Minami-Azabu 3-11-2-100, Minato-ku, Tokyo 106-0047, Japan
Rangeley Capital LLC 3 Forest Street, Suite 8, New Canaan, CT 06840, USA
Citicorp Nominees Pty Limited GPO Box 764G, Melbourne VIC 3001, Australia
Signature
print name Jeremy Raper capacity Owner; and Portfolio Manager and authorised
signatory of Rangeley Capital LLC (in its
capacity as investment manager)
sign here date 9 / 11 / 2026
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 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 corporate 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. 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.
(7) Details of the consideration must include any and all benefits, money and otherwise, 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) If 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.
Form 604 – Notice of change of interests of substantial holder – page 4
Annexure A
This is Annexure A of 1 page referred to in Form 604, Notice of change of interests of substantial holder, in respect of Wisr Limited ACN
004 661 205.
The Substantial Holders and the nature of their association
This notice is given, under Direction (1) to Form 604, by the following persons who have related relevant interests in fully paid ordinary
shares of the company (together, the Substantial Holders):
1. Jeremy Michael Kersten Raper, of Minami-Azabu 3-11-2-100, Minato-ku, Tokyo 106-0047, Japan, who holds 94,200,000 shares in
his own name and is a portfolio manager of Rangeley Capital LLC.
2. Rangeley Capital LLC, a limited liability company organised under the laws of Delaware, United States of America, of 3 Forest
Street, Suite 8, New Canaan, CT 06840, USA, an investment manager which holds 109,006,097 shares through Citicorp Nominees Pty
Limited as custodian.
Nature of the association
Mr Raper is a portfolio manager of Rangeley Capital LLC. In that capacity he directs the investment in the company made by Rangeley
Capital LLC and exercises, on its behalf, the power to control the voting and disposal of the shares it holds. Rangeley Capital LLC, as
investment manager, has the power to control the exercise of the voting rights attached to, and the disposal of, those shares under its
investment management arrangements. Mr Raper and Rangeley Capital LLC are accordingly acting in concert in relation to the affairs of
the company and became associates under section 12(2)(c) of the Corporations Act 2001 on 03/11/2026, the date on which Rangeley
Capital LLC first acquired shares in the company.
The previous notice dated 29/09/2026 was given by Mr Raper alone. The voting power of each Substantial Holder set out in section 2 of
this form is now the aggregate of the relevant interests of both Substantial Holders, being 203,206,097 fully paid ordinary shares, or
11.53% of the 1,762,982,501 fully paid ordinary shares on issue.
No relevant agreement in writing exists between the Substantial Holders in relation to the shares.
Jeremy Raper
Owner; and Portfolio Manager and authorised signatory of
Rangeley Capital LLC (in its capacity as investment manager)
Date
9 / 11 / 2026
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