ADHERIUM LIMITED — Major Shareholding Notification 2021

Mar 30, 2021

604 page 1/2 17 August 2020

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme Adherium Limited ACN/ARSN 605 352 510 1. Details of substantial holder(1) Name Phillip Asset Management Ltd atf BioScience Managers Translation Fund I ACN/ARSN (if applicable) N/A There was a change in the interests of the substantial holder on 24/ 03/ 21 The previous notice was given to the company on 17/ 08/ 20 The previous notice was dated 17/ 08/ 20

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 lastrequired, andwhen now required, to give a substantial holdingnotice to the company orscheme, are as follows:Class of securities (4)Previous noticePresent noticePerson’s votesVoting power (5)Person’s votesVoting power (5)Ordinary104,261,03625.07%166,666,66719.62%	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 lastrequired, andwhen now required, to give a substantial holdingnotice to the company orscheme, are as follows:Class of securities (4)Previous noticePresent noticePerson’s votesVoting power (5)Person’s votesVoting power (5)Ordinary104,261,03625.07%166,666,66719.62%	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 lastrequired, andwhen now required, to give a substantial holdingnotice to the company orscheme, are as follows:Class of securities (4)Previous noticePresent noticePerson’s votesVoting power (5)Person’s votesVoting power (5)Ordinary104,261,03625.07%166,666,66719.62%	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 lastrequired, andwhen now required, to give a substantial holdingnotice to the company orscheme, are as follows:Class of securities (4)Previous noticePresent noticePerson’s votesVoting power (5)Person’s votesVoting power (5)Ordinary104,261,03625.07%166,666,66719.62%	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 lastrequired, andwhen now required, to give a substantial holdingnotice to the company orscheme, are as follows:Class of securities (4)Previous noticePresent noticePerson’s votesVoting power (5)Person’s votesVoting power (5)Ordinary104,261,03625.07%166,666,66719.62%	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 lastrequired, andwhen now required, to give a substantial holdingnotice to the company orscheme, are as follows:Class of securities (4)Previous noticePresent noticePerson’s votesVoting power (5)Person’s votesVoting power (5)Ordinary104,261,03625.07%166,666,66719.62%	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 lastrequired, andwhen now required, to give a substantial holdingnotice to the company orscheme, are as follows:Class of securities (4)Previous noticePresent noticePerson’s votesVoting power (5)Person’s votesVoting power (5)Ordinary104,261,03625.07%166,666,66719.62%
	Class of securities (4)	Previous notice		Present notice
		Person’s votes	Voting power (5)	Person’s votes	Voting power (5)
	Ordinary	104,261,036	25.07%	166,666,667	19.62%

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 are as follows:

					’	’
Date ofchange	Person whoserelevant interestchanged	Nature of change(6)	Considerationgiven in relation tochange (7)	Class andnumber ofsecurities	Persons votesaffected
				affected
24/03/21	Phillip AssetManagement Ltdatf BioScienceManagersTranslation Fund I	Dilution in votingdue to shareissued by ADR	NA	NA	NA

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder ofrelevantinterest	Registeredholder ofsecurities	Person entitled to beregistered as holder(8)	Nature of relevantinterest (6)	Class andnumber ofsecurities	Person’svotes
Phillip AssetManagementLtd atfBioScienceManagersTranslationFund I	Phillip AssetManagementLtd atfBioScienceManagersTranslationFund I	N/A	Ordinary	166,666,667	166,666,667

604 page 2/2 17 August 2020

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 andACN/ARSN(ifapplicable)	Nature ofassociation
N.A

6. Addresses

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

Name	Address
Phillip Asset Management Ltd atf	Level 10, 330 Collins Street, Melbourne, VIC
BioScience Managers Translation Fund I

Signature

Jessica Bell capacity: Director print name

sign here date 26 / 03 /2021

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 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) If the substantial holder is unable to determine the identify 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.