CHORUS LIMITED — Major Shareholding Notification 2014

Oct 27, 2014

Form 605

Corporations Act 2001 Section 671B

Notice of ceasing to be a substantial holder

To Company Name/Scheme: Chorus Limited ACN/ARSN: 152 485 848

1. Details of substantial holder

Name: Schroder Investment Management Australia Limited ACN/ARSN (if applicable): 000 443 274 The holder ceased to be a 27/10/2014 substantial holder on: The previous notice was given to 25/02/2014 the company on: The previous notice was dated: 21/02/2014

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
22/02/2014 - 27/10/2014	SIMAL	Buy	$ 588,775.18	367,801 Ordinary shares	367,801
22/02/2014 - 27/10/2014	SIMAL	Sell	$ 2,228,325.00	1,417,451 Ordinary shares	1,417,451

22/02/2014 - 27/10/2014	SIMAL	Out specie transfer	Nil	625,378 Ordinary shares	625,378
22/02/2014 - 27/10/2014	SIM Ltd	Sell	$ 904,211.55	638,506 Ordinary shares	638,506
22/02/2014 - 27/10/2014	SIMNA INC	Sell	$ 530,914.27	375,580 Ordinary shares	375,580

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
Schroder Investment Management Australia Limited(“SIMAL”)	Related Fund Manager
Schroder Investment Management Limited (“SIM Ltd”)	Related Fund Manager
Schroder Investment Management North America (“SIMNA INC”)	Related Fund Manager

4. Address

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

Name	Address
Schroder Investment Management (Australia) Limited (“SIMAL”)	Level 20, Angel Place, 123 Pitt Street, Sydney, 2000, Australia
Schroder Investment Management Limited (“SIM Ltd”)	31 Gresham Street, London EC2V 7QA, UK
Schroder Investment Management North America (“SIMNA INC”)	31 Gresham Street, London EC2V 7QA, UK