ACROW LIMITED — Major Shareholding Notification 2019

Nov 19, 2019

Form 604 Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme	Acrow Formwork and Construction Services Ltd	Acrow Formwork and Construction Services Ltd
ACN/ARSN:	36 124 893 465	Source:	Australian Business Register
1. Details of substantial holder (1)
Name:	Perennial Value Management
ACN/ARSN (if applicable)	22 090 879 904
There was a change in the interest of the substantial holder on			18 November 2019
The previous notice was given to the	company on		14 October 2019
The previous notice was dated			11 October 2019
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 relavant interest (3) in
Class of securities (4)	Previous notice		Present notice
	Person's votes	Voting Power(%) (5)	Person's votes	Voting Power(%) (5)
Ordinary	26,520,973	14.94	26,093,520	13.84
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	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	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	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	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	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
Date of changePerson whose relevant	Nature of change (6)	Consideration given in		Class & number of	Person's votes affected
interest changed		relation to change (7)		securities affected
1/11/2019 National Asset Servicing	Sale on the market	$	31,944.66	96,738	96,738
4/11/2019 National Asset Servicing	Sale on the market	$	2,497.22	7,569	7,569
5/11/2019 National Asset Servicing	Sale on the market	$	16,547.18	50,154	50,154
6/11/2019 National Asset Servicing	Sale on the market	$	3,518.35	10,664	10,664
7/11/2019 National Asset Servicing	Sale on the market	$	17,082.42	52,784	52,784
8/11/2019 National Asset Servicing	Sale on the market	$	67,039.33	209,544	209,544
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	Nature of relevant		Class & number of	Person's votes
	registered as holder (8)	interest (6)		securities (Ord)
Perennial Value ManagementLimitedNational Asset Servicing	National Asset Servicing		13980025	13,980,025	13,980,025
Perennial Value ManagementLimitedNorthern Trust	Northern Trust		8265137	8,265,137	8,265,137
Perennial Value ManagementLimitedBNP Paribas Securities Services	BNP Paribas SecuritiesServices		3848358	3,848,358	3,848,358

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	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	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
Name & ACN	Nature of association
Not applicable

6. Addresses

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

Name		Address
Perennial Value Management Ltd	Level 27, 88 Phillip St
	SydneyNSW 2000
Acrow Formwork and Construction	Acrow Formwork And Construction Services Ltd2a Mavis
Services Ltd	Street,Revesby,Nsw 2212
Signature
Print Name	Bill Anastasopoulos	Capacity	Company Secretary
Sign Here		Date	20/11/2019

==> picture [475 x 114] intentionally omitted <==

==> picture [469 x 45] intentionally omitted <==