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ELDERS LIMITED Major Shareholding Notification 2020

May 24, 2020

64835_rns_2020-05-24_11c6e405-cf39-48fe-a4be-f932fab08b3c.pdf

Major Shareholding Notification

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Corporations Law Section 671B

Form 604

Notice of change of interests of substantial holder

To Company Name/Scheme ELDERS LIMITED

ACN/ARSN 004 336 636

1. Details of substantial holder (1)

Name PERPETUAL LIMITED and its related bodies corporate ACN (if applicable) 000 431 827 There was a change in the interests of the Substantial holder on _ 21 _ / 05 / 2020 __ The previous notice was given to the company on 12 / 05 / 2020 __ The previous notice was dated 08 / 05 /_ 2020 __

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) Previousnotice
Presentnotice
Person’s votes
Voting power (5)
Person’s votes
Voting power (5)
Ordinary 11,202,937
7.20%
9,354,632
6.01%

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 substantial holding notice to the company or scheme are as follows:

Date of change Person whose relevant
interest changed
Nature of
change (6)
Consideration
given in relation
to change (7)
Class and
number of
securities affected
Person’s votes
affected
Refer annexure 3

4. Present relevant interests

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

==> picture [384 x 85] intentionally omitted <==

----- Start of picture text -----

Holder of Registered holder of Person entitled Nature of relevant Class and Person’s votes
relevant securities to be registered interest (6) number of
interest as holder (8) securities
Refer annexure 1 & 2
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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 (if applicable) Nature of association Perpetual Investment Management Limited Related bodies corporate of Perpetual Limited Perpetual Trustee Company Limited Related bodies corporate of Perpetual Limited

6. Addresses

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

Name Address Perpetual Limited 18/123 Pitt Street Sydney, NSW 2000 Perpetual Investment Management Limited 18/123 Pitt Street Sydney, NSW 2000 Perpetual Trustee Company Limited 18/123 Pitt Street Sydney, NSW 2000

==> picture [125 x 40] intentionally omitted <==

Signature

==> picture [305 x 10] intentionally omitted <==

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Print name Sylvie Dimarco Capacity COMPANY SECRETARY
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ANNEXURE 1 - Perpetual Investments Account Codes & Details

Perpetual Investment Management Limited (PIML), subsidiary of Perpetual Limited, as Responsible Entity for:

INTERNAL CODE REGISTRATION DETAILS
17 HSBC Custody Nominees (Australia) Limited
GPO Box 5302
Sydney NSW 2001
26 HSBC Custody Nominees (Australia) Limited
GPO Box 5302
Sydney NSW 2001
33 HSBC Custody Nominees (Australia) Limited
GPO Box 5302
Sydney NSW 2001
118 HSBC Custody Nominees (Australia) Limited
GPO Box 5302
Sydney NSW 2001
212 HSBC Custody Nominees (Australia) Limited
GPO Box 5302
Sydney NSW 2001
649 HSBC Custody Nominees (Australia) Limited
GPO Box 5302
Sydney NSW 2001
650 HSBC Custody Nominees (Australia) Limited
GPO Box 5302
Sydney NSW 2001
652 HSBC Custody Nominees (Australia) Limited
GPO Box 5302
Sydney NSW 2001
653 HSBC Custody Nominees (Australia) Limited
GPO Box 5302
Sydney NSW 2001
651 HSBC Custody Nominees (Australia) Limited
GPO Box 5302
Sydney NSW 2001
654 HSBC Custody Nominees (Australia) Limited
GPO Box 5302
Sydney NSW 2001
670 HSBC Custody Nominees (Australia) Limited
GPO Box 5302
Sydney NSW 2001
695 HSBC Custody Nominees (Australia) Limited
GPO Box 5302
Sydney NSW 2001
774 HSBC Custody Nominees (Australia) Limited
GPO Box 5302
Sydney NSW 2001

This is Annexure 1 Page 1 of 6 referred to in Form 603

855 HSBC Custody Nominees (Australia) Limited
GPO Box 5302
Sydney NSW 2001
2093 HSBC Custody Nominees (Australia) Limited
GPO Box 5302
Sydney NSW 2001
2095 HSBC Custody Nominees (Australia) Limited
GPO Box 5302
Sydney NSW 2001
2124 HSBC Custody Nominees (Australia) Limited
GPO Box 5302
Sydney NSW 2001
2125 HSBC Custody Nominees (Australia) Limited
GPO Box 5302
Sydney NSW 2001
2127 HSBC Custody Nominees (Australia) Limited
GPO Box 5302
Sydney NSW 2001
2128 HSBC Custody Nominees (Australia) Limited
GPO Box 5302
Sydney NSW 2001
2199 HSBC Custody Nominees (Australia) Limited
GPO Box 5302
Sydney NSW 2001
2210 HSBC Custody Nominees (Australia) Limited
GPO Box 5302
Sydney NSW 2001
2219 HSBC Custody Nominees (Australia) Limited
GPO Box 5302
Sydney NSW 2001
2130 HSBC Custody Nominees (Australia) Limited
GPO Box 5302
Sydney NSW 2001
2089 RBC Investor Services Australia Nominees Pty Limited

GPO Box 5430 Sydney NSW 2001
2086 RBC Investor Services Australia Nominees Pty Ltd

GPO Box 5430 Sydney NSW 2001
106 RBC Investor Services Australia Nominees Pty Ltd

GPO Box 5430 Sydney NSW 2001
133 RBC Investor Services Australia Nominees Pty Ltd

GPO Box 5430 Sydney NSW 2001

This is Annexure 1 Page 2 of 6 referred to in Form 603

323 RBC Investor Services Australia Nominees Pty Ltd

GPO Box 5430 Sydney NSW 2001
669 RBC Investor Services Australia Nominees Pty Ltd

GPO Box 5430 Sydney NSW 2001
139 RBC Investor Services Australia Nominees Pty Ltd

GPO Box 5430 Sydney NSW 2001
44 UBS Nominees Pty Ltd
Level 16 Chifley Tower
2 Chifley Square
Sydney NSW 2000
108 UBS Nominees Pty Ltd
Level 16, Chifley Tower
2 Chifley Square
Sydney NSW 2000
414 UBS Nominees Pty Ltd
Level 16 Chifley Tower
2 Chifley Square
Sydney NSW 2000
696 UBS Nominees Pty Ltd
Level 16 Chifley Tower
2 Chifley Square
Sydney NSW 2000
941 UBS Nominees Pty Ltd
Level 16 Chifley Tower
2 Chifley Square
Sydney NSW 2000

Perpetual Investment Management Limited (PIML), subsidiary of Perpetual Limited, as Trustee for:

ALL 'SS' CODES HSBC Custody Nominees (Australia) Limited
GPO Box 5302
Sydney NSW 2001

Perpetual Investment Management Limited (PIML), subsidiary of Perpetual Limited, under Investment Management Agreements with:

INTERNAL CODE REGISTRATION DETAILS
227 BNP Paribas Nominees Pty Ltd
PO Box R209 Royal Exchange
NSW 1225
248 BNP Paribas Noms Pty Ltd
P.O. Box R209 Royal Exchange
Sydney NSW 1225
702 BNP Paribas Nominees Pty Ltd
PO Box R209 Royal Exchange
NSW 1225
740 BNP Paribas Nominees Pty Ltd
PO Box R209 Royal Exchange
NSW 1225

This is Annexure 1 Page 3 of 6 referred to in Form 603

786 BNP Paribas Nominees Pty Ltd
PO Box R209 Royal Exchange
NSW 1225
2085 BNP Paribas Nominees Pty Ltd
PO Box R209 Royal Exchange
NSW 1225
2122 BNP Paribas Nominees Pty Ltd
PO Box R209 Royal Exchange
NSW 1225
2131 BNP Paribas Nominees Pty Ltd
PO Box R209 Royal Exchange
NSW 1225
2216 BNP Paribas Nominees Pty Ltd
PO Box R209 Royal Exchange
NSW 1225
220 Citicorp Nominees Pty Ltd
GPO Box 764G
Melbourne VIC 3001
221 Citicorp Nominees Pty Ltd
GPO Box 764G
Melbourne VIC 3001
222 Citicorp Nominees Pty Ltd
GPO Box 764G
Melbourne VIC 3001
224 Citicorp Nominees Pty Ltd
GPO Box 764G
Melbourne VIC 3001
2163 Northern Trust Company Melbourne Branch: HSBC Custody
Nominees (Australia) Limited
GPO Box 5302
Sydney NSW 2001
2222 Citicorp Nominees Pty Ltd
GPO Box 764G
Melbourne VIC 3001
194 Northern Trust Company Melbourne Branch: HSBC Custody
Nominees (Australia) Limited
GPO Box 5302
Sydney NSW 2001
779 State Street Limited
420 George Street
Sydney NSW 2000
2101 HSBC Custody Nominees (Australia) Limited
GPO Box 5302
Sydney NSW 2001
2152 Northern Trust Company Melbourne Branch: HSBC Custody
Nominees (Australia) Limited
GPO Box 5302
Sydney NSW 2001

This is Annexure 1 Page 4 of 6 referred to in Form 603

2161 HSBC Custody Nominees (Australia) Limited
GPO Box 5302
Sydney NSW 2001
2172 State Street Limited
420 George Street
Sydney NSW 2000
210 JPMorgan Nominees Australia Limited
Locked Bag 20049
Melbourne VIC 3001
215 JPMorgan Nominees Australia Limited
Locked Bag 20049
Melbourne VIC 3001
230 JPMorgan Nominees Australia Limited
Locked Bag 20049
Melbourne VIC 3001
231 JPMorgan Nominees Australia Limited
Locked Bag 20049
Melbourne VIC 3001
392 JPMorgan Nominees Australia Limited
Locked Bag 20049
Melbourne VIC 3001
394 JPMorgan Nominees Australia Limited
Locked Bag 20049
Melbourne VIC 3001
449 JPMorgan Nominees Australia Limited
Locked Bag 20049
Melbourne VIC 3001
773 JPMorgan Nominees Australia Limited
Locked Bag 20049
Melbourne VIC 3001
788 JPMorgan Nominees Australia Limited
Locked Bag 20049
Melbourne VIC 3001
791 JPMorgan Nominees Australia Limited
Locked Bag 20049
Melbourne VIC 3001
2100 JPMorgan Nominees Australia Limited
Locked Bag 20049
Melbourne VIC 3001
2166 JPMorgan Nominees Australia Limited
Locked Bag 20049
Melbourne VIC 3001
711 National Nominees Pty Ltd
PO Box 1406
Melbourne VIC 3001

This is Annexure 1 Page 5 of 6 referred to in Form 603

787 National Nominees Pty Ltd
PO Box 1406
Melbourne VIC 3001
2083 National Nominees Pty Ltd
PO Box 1406
Melbourne VIC 3001
2097 National Nominees Pty Ltd
PO Box 1406
Melbourne VIC 3001
2160 National Nominees Pty Ltd
PO Box 1406
Melbourne VIC 3001
2220 National Nominees Pty Ltd
PO Box 1406
Melbourne VIC 3001
2243 National nominees Pty Ltd
PO Box 1406
Melbourne VIC 3001
Perpetual Trustee Company Limited as trustee, custodian or nominee Perpetual Trustee Company Limited as trustee, custodian or nominee

INTERNAL CODE

REGISTRATION DETAILS
T2 Perpetual Trustee Company Limited
GPO Box 4172 Sydney NSW 2001
T3 The Trust Company Limited
GPO Box 4270 Sydney NSW 2001
T4 Perpetual Trustee Company Limited
GPO Box 4172 Sydney NSW 2001
T6 Perpetual Trustee Company Limited
GPO Box 4172 Sydney NSW 2001
T7 Perpetual Trustee Company Limited
GPO Box 4172 Sydney NSW 2001

This is Annexure 1 Page 6 of 6 referred to in Form 603

ANNEXURE 2

PRESENT RELEVANT INTERESTS

ASXCode
Internal Code
ELD
2,130
ELD
2,222
ELD
2,243
ELD
649
ELD
650
ELD
2,125
ELD
2,124
ELD
44
ELD
220
ELD
653
Holding
659,027
24,925
59,819
3,340,382
644,375
73,793
39,721
1,540,079
777,999
2,194,512
9,354,632

This is annexure 2 Page 1 of 1 referred to in Form 604 Title: Notice of change of interests of substantial holder

ANNEXURE 3

CHANGES IN RELEVANT INTERESTS

Account Security Volume Value Price AsAtDate
2243 ELD - 403
3,794 $ 9.42
11/05/2020
2243 ELD - 1,191
11,085 $ 9.31
11/05/2020
2243 ELD - 3,459
32,451 $ 9.39
11/05/2020
2243 ELD - 1,173
10,984 $ 9.38
11/05/2020
220 ELD - 5,145
48,434 $ 9.42
11/05/2020
220 ELD - 15,216
141,621 $ 9.31
11/05/2020
220 ELD - 44,189
414,532 $ 9.39
11/05/2020
220 ELD - 14,991
140,365 $ 9.38
11/05/2020
2124 ELD - 266
2,504 $ 9.42
11/05/2020
2124 ELD - 786
7,316 $ 9.31
11/05/2020
2124 ELD - 2,284
21,428 $ 9.39
11/05/2020
2124 ELD - 775
7,257 $ 9.38
11/05/2020
2125 ELD - 491
4,622 $ 9.42
11/05/2020
2125 ELD - 1,452
13,515 $ 9.31
11/05/2020
2125 ELD - 4,218
39,572 $ 9.39
11/05/2020
2125 ELD - 1,432
13,409 $ 9.38
11/05/2020
44 ELD - 10,508
98,924 $ 9.42
11/05/2020
44 ELD - 31,073
289,219 $ 9.31
11/05/2020
44 ELD - 90,239
846,598 $ 9.39
11/05/2020
44 ELD - 30,612
286,655 $ 9.38
11/05/2020
649 ELD - 22,475
211,583 $ 9.42
11/05/2020
649 ELD - 66,463
618,620 $ 9.31
11/05/2020
649 ELD - 193,017
1,810,833 $ 9.39
11/05/2020
649 ELD - 65,479
613,154 $ 9.38
11/05/2020
650 ELD - 4,377
41,206 $ 9.42
11/05/2020
650 ELD - 12,945
120,489 $ 9.31
11/05/2020
650 ELD - 37,594
352,697 $ 9.39
11/05/2020
650 ELD - 12,754
119,430 $ 9.38
11/05/2020
2243 ELD - 180
1,719 $ 9.56
12/05/2020
220 ELD - 2,309
22,047 $ 9.56
12/05/2020
2124 ELD - 123
1,175 $ 9.56
12/05/2020
2125 ELD - 220
2,101 $ 9.56
12/05/2020
44 ELD - 4,401
42,026 $ 9.56
12/05/2020
649 ELD - 10,024
95,721 $ 9.56
12/05/2020
650 ELD - 1,985
18,955 $ 9.56
12/05/2020
653 ELD 37,022 332,151 $ 8.96
14/05/2020
2243 ELD - 281
2,673 $ 9.52
15/05/2020
220 ELD - 3,783
35,980 $ 9.52
15/05/2020
2124 ELD - 197
1,874 $ 9.52
15/05/2020
2125 ELD - 312
2,968 $ 9.52
15/05/2020
44 ELD - 5,844
55,587 $ 9.52
15/05/2020
649 ELD - 16,322
155,253 $ 9.52
15/05/2020
650 ELD - 3,296
31,351 $ 9.52
15/05/2020
653 ELD - 150,000
1,502,398 $ 10.03
18/05/2020
653 ELD - 50,000
509,750 $ 10.21
18/05/2020
2243 ELD - 3,072
31,227 $ 10.18
18/05/2020
220 ELD - 40,251
409,122 $ 10.18
18/05/2020
2124 ELD - 2,081
21,154 $ 10.18
18/05/2020
2125 ELD - 3,620
36,798 $ 10.18
18/05/2020
44 ELD - 72,162
733,540 $ 10.18
18/05/2020

This is annexure 3 Page 1 of 2 referred to in Form 604

649
ELD

650
ELD

2243
ELD

2243
ELD

2243
ELD

2243
ELD

220
ELD

220
ELD

220
ELD

220
ELD

2124
ELD

2124
ELD

2124
ELD

2124
ELD

2125
ELD

2125
ELD

2125
ELD

2125
ELD

2130
ELD

2130
ELD

2130
ELD

2130
ELD

649
ELD

44
ELD

44
ELD

44
ELD

44
ELD

649
ELD

649
ELD

649
ELD

650
ELD

650
ELD

650
ELD

650
ELD

2130
ELD

2243
ELD

2201
ELD

2203
ELD

2125
ELD

2124
ELD

2206
ELD

220
ELD

176,004
-
1,789,113
10.18
$ 18/05/2020
34,268
-
348,340
10.18
$ 18/05/2020
6
-
60
9.99
$ 21/05/2020
7
-
69
9.86
$ 21/05/2020
630
-
6,182
9.83
$ 21/05/2020
292
-
2,888
9.90
$ 21/05/2020
61
-
609
9.99
$ 21/05/2020
100
-
986
9.86
$ 21/05/2020
8,632
-
84,697
9.83
$ 21/05/2020
4,004
-
39,593
9.90
$ 21/05/2020
4
-
40
9.99
$ 21/05/2020
5
-
49
9.86
$ 21/05/2020
422
-
4,141
9.83
$ 21/05/2020
196
-
1,938
9.90
$ 21/05/2020
7
-
70
9.99
$ 21/05/2020
9
-
89
9.86
$ 21/05/2020
786
-
7,713
9.83
$ 21/05/2020
364
-
3,600
9.90
$ 21/05/2020
95
-
948
9.99
$ 21/05/2020
131
-
1,291
9.86
$ 21/05/2020
11,288
-
110,768
9.83
$ 21/05/2020
5,236
-
51,780
9.90
$ 21/05/2020
307
-
3,065
9.99
$ 21/05/2020
139
-
1,388
9.99
$ 21/05/2020
191
-
1,883
9.86
$ 21/05/2020
16,477
-
161,687
9.83
$ 21/05/2020
7,643
-
75,584
9.90
$ 21/05/2020
414
-
4,081
9.86
$ 21/05/2020
35,536
-
348,712
9.82
$ 21/05/2020
16,486
-
163,035
9.90
$ 21/05/2020
60
-
599
9.99
$ 21/05/2020
79
-
779
9.86
$ 21/05/2020
6,816
-
66,885
9.83
$ 21/05/2020
3,162
-
31,270
9.90
$ 21/05/2020
71,434
-
7,114,855
9.98
$ 21/05/2020
4,272
-
425,493
9.98
$ 21/05/2020
230,831
-
22,990,860
9.98
$ 21/05/2020
45,396
-
4,521,460
9.98
$ 21/05/2020
5,084
-
506,368
9.98
$ 21/05/2020
2,746
-
273,503
9.98
$ 21/05/2020
104,372
-
10,395,493
9.98
$ 21/05/2020
45,865
-
4,568,172
9.98
$ 21/05/2020
1,848,305
-

This is annexure 3 Page 2 of 2 referred to in Form 604