ADAIRS LIMITED — Major Shareholding Notification 2020

Mar 2, 2020

Form 605

Corporations Act 2001

Section 671B

Notice of ceasing to be a substantial holder

To Company Name/Scheme ADAIRS LIMITED ACN/ARSN ACN 147 375 451

1. Details of substantial holder (1)

Name Credit Suisse Holdings (Australia) Limited (on behalf of Credit Suisse Group AG and its affiliates) ACN/ARSN (if applicable) 008 496 713

The holder ceased to be a substantial holder on 27-Feb-2020 The previous notice was given to the company on 02-Mar-2020 The previous notice was dated 02-Mar-2020

2. Changes in relevant interests

Particulars of each change in , or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3)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 (4)	Consideration given in relation to change (5)	Class (6) and number of securities affected	Person's votes affected
See Annexure "A"

3. Changes in association

The persons who have become associates (3) of, ceased to be associates of, or have changed the nature of their association (7) 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
N/A

4. Addresses

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

Name	Address
Credit Suisse Holdings (Australia) Limited (ACN 008 496 713)	Level 31, Gateway, 1 Macquarie Place, Sydney NSW 2000, Australia
CS Third Nominees Pty Limited (ACN 007 053 849)	Level 31, Gateway, 1 Macquarie Place, Sydney NSW 2000, Australia
Credit Suisse Equities (Australia) Limited (ACN 068 232 708)	Level 31, Gateway, 1 Macquarie Place, Sydney NSW 2000, Australia
Credit Suisse Fourth Nominees Pty Limited (ACN 069 126 432)	Level 31, Gateway, 1 Macquarie Place, Sydney NSW 2000, Australia
Credit Suisse Securities (Europe) Limited (ARBN 099554131)	One Cabot Square,London,E14 4QJ
Credit Suisse Securities(USA)LLC	11 Madison Avenue,New York,NY 10010

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Signature

print name sign here	Winston Loke capacity Authorised Signatory
	date 3-Mar-2020

==> picture [67 x 26] intentionally omitted <==

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Annexure "A"

2. Changes in relevant interests

Particulars of each change in , or change in the nature of, a relevant interest (2) of the substantial holder or an associate (3)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 (4)	Consideration given in relation to change (5)	Class (6) and number of securities affected	Person's votes affected
27-Feb-20	Credit Suisse Equities (Australia) Limited	Disposed on market	55,324.35 AUD	-21,090 Common Stocks	-21,090
27-Feb-20	Credit Suisse Equities (Australia) Limited	Disposed on market	5,270.0 AUD	-2,000 Common Stocks	-2,000
27-Feb-20	Credit Suisse Equities (Australia) Limited	Disposed on market	30,862.29 AUD	-11,873 Common Stocks	-11,873
27-Feb-20	Credit Suisse Equities (Australia) Limited	Disposed on market	15,438.72 AUD	-5,984 Common Stocks	-5,984
27-Feb-20	Credit Suisse Equities (Australia) Limited	Disposed on market	8,186.43 AUD	-3,169 Common Stocks	-3,169
27-Feb-20	Credit Suisse Equities (Australia) Limited	Acquired on market	85,207.11 AUD	34,463 Common Stocks	34,463
27-Feb-20	Credit Suisse Equities (Australia) Limited	Acquired on market	1,316.88 AUD	531 Common Stocks	531
27-Feb-20	Credit Suisse Equities (Australia) Limited	Acquired on market	8,064.43 AUD	3,250 Common Stocks	3,250
27-Feb-20	Credit Suisse Equities (Australia) Limited	Disposed on market	654,270.94 AUD	-251,467 Common Stocks	-251,467
27-Feb-20	Credit Suisse Equities (Australia) Limited	Stock returned under ASLA	Refer to Annexure B of Notice	-82,000 Common Stocks	-82,000
27-Feb-20	Credit Suisse Equities (Australia) Limited	Stock returned under ASLA	Refer to Annexure B of Notice	-276,000 Common Stocks	-276,000
27-Feb-20	Credit Suisse Securities (Europe) Limited	Stock returned under Master prime brokerage agreement	Refer to Annexure B of Notice	-126,745 Common Stocks	-126,745
27-Feb-20	Credit Suisse Securities (Europe) Limited	Stock returned under Master prime brokerage agreement	Refer to Annexure B of Notice	-126,745 Common Stocks	-126,745

This is Annexure "A" referred to in the Form 605 "Notice of ceasing to be a substantial holder"

Signature Credit Suisse Holdings (Australia) Limited (ACN 008 496 713)

print name sign here	Winston Loke capacity Authorised Signatory
	date 3-Mar-2020

==> picture [67 x 27] intentionally omitted <==

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Annexure "B"

This is Annexure "B" referred to in the Form 605 "Notice of ceasing to be a substantial holder"

Signature print name sign here	Credit Suisse Holdings (Australia) Limited (ACN 008 496 713) Winston Loke capacity Authorised Signatory
	date 3-Mar-2020

==> picture [67 x 27] intentionally omitted <==

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Prescribed information
Schedule
Type of agreement	Australian Securities Lending Agreement
Parties to agreement	Credit Suisse Equities (Australia) Limited and
	National Australia Bank Limited
Transfer date	27-Feb-2020
Holder of voting rights	Borrower
Are there any restrictions on voting rights?	Yes
If yes, detail	Voting rights to be exercised in accordance
	with lender’s instructions provided such
	instructions are received 7 days prior
Scheduled return date (if any)	N/A
Does the borrower have the right to return early?	Yes
If yes, detail	Early return is subject to the lender’s
	acceptance
Does the lender have the right to recall early?	Yes
If yes, detail	With 4 business days prior notice or earlier
	upon agreement
Will the securities be returned on settlement?	Yes
If yes, detail any exceptions	If an event of default occurs in respect of either
	the lender or the borrower, the obligation of the
	borrower to deliver the securities to the lender
	will be netted off against the obligation of the
	lender to return securities or cash held by the
	lender as collateral.

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Prescribed information
Schedule
Type of agreement	Australian Securities Lending Agreement
Parties to agreement	Credit Suisse Equities (Australia) Limited and
	JP Morgan Chase Bank
Transfer date	27-Feb-2020
Holder of voting rights	Borrower
Are there any restrictions on voting rights?	Yes
If yes, detail	Voting rights to be exercised in accordance
	with lender’s instructions provided such
	instructions are received 7 days prior.
Scheduled return date (if any)	N/A
Does the borrower have the right to return early?	Yes
If yes, detail	With 2 business days prior to a notice by
	Midday.
Does the lender have the right to recall early?	Yes
If yes, detail	With 4 business days prior notice or earlier
	upon agreement.
Will the securities be returned on settlement?	Yes
If yes, detail any exceptions	If an event of default occurs in respect of either
	the lender or the borrower, the obligation of the
	borrower to deliver the securities to the lender
	will be netted off against the obligation of the
	lender to return securities or cash held by the
	lender as collateral.

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Prescribed information

Schedule
Type of agreement	Master Prime Brokerage Securities Lending
	Agreement
Parties to agreement	Credit Suisse Securities (Europe) Limited and
	ICSA-AIR4C
Transfer date	27-Feb-2020
Holder of voting rights	Borrower
Are there any restrictions on voting rights?	Yes
If yes, detail	Voting rights to be exercised in accordance
	with lender’s instructions provided such
	instructions are received 5 days prior.
Scheduled return date (if any)	N/A
Does the borrower have the right to return early?	Yes
If yes, detail	At Will
Does the lender have the right to recall early?	Yes
If yes, detail	With 4 days prior written notice or earlier upon
	agreement
Will the securities be returned on settlement?	Yes
If yes, detail any exceptions	If an event of default occurs in respect of either
	the lender or the borrower, the obligation of the
	borrower to deliver the securities to the lender
	will be netted off against the obligation of the
	lender to return securities or cash held by the
	lender as collateral.

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