FOCUS MINERALS LTD — Major Shareholding Notification 2015

Jun 29, 2015

Form 604: Notice of change of Interests of substantial holder in Focus Minerals Ltd ACN 005 470 799

From Rebecca Maslen-Stannage Phone +61 2 9225 5500 Fax. +61 2 9322 4000 rebecca.maslen-stannage@hsf.com 30 June 2015

Mobile +61 419 767 709

6 (including cover sheet) Pages

• Tо ASX Market Announcements Office ASX Limited Phone 1800 021 965 1300 135 638 Fax
• Copy Company Secretary Focus Minerals Ltd Phone +61 8 9215 7888 Fax +61 8 9215 7889

Please see attached.

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		Form 604 Corporations Act 2001 Section 671B
		Notice of change of interests of substantial holder
To Company Name/Scheme	Focus Minerals Ltd	$\sim 10$
ACN/ARSN	ACN 005 470 799
1. Details of substantial holder (1) Name	Lloyd I. Miller. III
ACN/ARSN (if applicable) There was a change in the interests of the substantial holder on The previous notice was given to the company on The previous notice was dated	NA. 28/08/2015 23/04/2015 23/04/2015

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)	Previous notice		. Present notice
	Person's votes	Voting power (5)	Parson's votes	Voting power (5) .
Ordinary shares	998 839 369	10.91% (based on 9.137.375.877 ordinary shares on Issue)	21.086.383	11.90% (based on 182,748,565 lordinary shares on fasua) .

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or en associate in voting securities of the company or scheme, since the eubstantial 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 (6) 1000000000000000000000000000000000000	. Concideration given in relation to change (7)	Class and numbar of Becurities affected --------	Person's votes afrected
i3ee Annexure A

4. Present relevant interests

Particulars of each relevent interest of the substantial holder in voting escurities after the change are as follows:

Holder of relevent interest	Realatered holder af securities	Person entitled to be registered as holder (8)	Najuro of ralevant interest (6)	Class one number of sacurities	Person's votas
See Annexure B ------				.

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 voling interests in the company or scheme are as follows:

------ Name and ACN/ARSN (If	______ ______ . ---------------- Noture of association .
______ lna	________ 'NA

6. Addresses

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

Nomo	Address
Millem II L.P.	3300 S. Dixie Highway, Suite 1-365 West Palm Beach, FL 33405
[Lloyd I. Miller, III]	[3300 S. Divie Highway, Sulte 1-365 West Palm Beach, PL 33405
Lloyd I. Millar Trust A-4	3300 S. Dixle Highway, Suite 1-365 West Palm Beach, FL 33406
Catherine Miller Trust C	[3300 S. Dixto Highway, Suite 1-365 West Paim Beach, FL 33405
LIMFANTLLC	3300 S. Dixie Highway, Suite 1-365 West Palm Boach, FL 33405

Signature

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 ann is closely set out in persgraph 6 of the form.
• See the definition of "associate" in section9 of the Corporations Act 2001, $(2)$
• $(3)$ See the definition of "relavant interest" in sections 808 and 671B(7) of the Corporations Act 2001.

$(4)$ The voting shares of a company constitute one class unless divided into seperate classes.

• $(5)$ The person's votes divided by the total votes in the body corporate or scheme multiplied by 100,
• $\left( 6 \right)$ Include details of:
• any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applics, a copy
  of any document setting out the terms of any relevant agreement, and a statemen $(a)$
• any qualification of the power of a porson to oxercise, control the exercise of, or influence the oxercise of, the voting powers or disposal of the
  securities to which the relevent interest relates (indicating clearly the $(b)$

See the definition of "relevant agreement" in section9 of the Corporations Act 2001.

• Detalls of the consideration must include any and all benefits, money and other, that any person from whom a relevant microst was acquired has, or may,
  become entitled to receive in relation to that acquisition. Details mu $(7)$ are not paid directly to the person from whom the relavant interest was acquired.
• $(a)$ If the substantial holder is unable to datermine the identity of the person (eq. if the relevant interest arises because of an option) write "unknown"
• Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice. (9)

44067382.1

Annexure A

This is Annexure A of 2 pages referred to in Form 604

General Partner /
Manager print name Licyd I. Miller, III capacity sign here date 29/06/2015

Dute 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
22/04/2015	Lloyd I. Miller Trust A-4	JBuy	(\$0.00652 per share	11,702,894 ordinary shares	11.702.894
24/04/2015	Lioyd 1. Miller Trust A-4	18uy	\$0.00852 per ahare	1,215,816 ordinary shares	1.215.816
127/04/2015	Lloyd I. Miller Trust A-4	Buy	50.00652 par share	27,103,262 ordinary shares	127 103,262
28/04/2015	Lloyd I. Miller Trust A-4	lBuy	50.006a2 per shara	865,001 ordinary shares	865.001
39/04/2015	Lloyd I. Miller Trusi A-4	Buy	SO.00662 par share	1,077,154 ordinary shares	1,077,164
1/05/2015	Lloyd I. Miller Trust A-4 Buy		80.00652 por sharo	1,298,930 ordinary sharos	1,298,930
15/05/2015	(Lloyd I. Miller Trust A-4	Buy	50.00652 por share	1,720,548 ordinary shares	1,720,548
16/05/2015	Lloyd I. Miller Trust A-4	Buy	\$0.00652 per share	2,436,510 ordinary shares	2,438,510
11/05/2015	Lloyd I. Millor Trust A-4 Buy		\$0 00652 per share	404.831 ordinary shares	404,B31
12/05/2015	Llovd I. Miller Trust A-4	lBuy	S0.00652 per share	3,758,461 ordinary aharea	3,758,481
14/05/2015	Lloyd I. Miller Trust A-4	1Buy	50.00652 per share	734,578 ordinary shares	734,578
15/05/2015	Lloyd I. Miller Trust A-4	Buy	\$0.00852 per share	1,383,967 ordinary shares	1,383,967
19/05/2015	Lloyd I. Miller Trust A-4	{Buy	\$0.33083 per share	25,000 ordinary shares	26,000
21/05/2015	Lloyd I. Miller Trusi A-4	Buy	50.3609 per share	30,000 ordinary shares	30.000
129/05/2015	Lloyd I. Miller Trust A-4	lBuy.	30.34856 per share	64,553 ordinary shares	le 4, 55 3
1/06/2015	l loyd Miller Trust A-4	(Buy	SD.34085 per share	13,804 ordinary shares	13,804
2/06/2015	Lloyd I. Miller Trust A-4	Buy	[50.34085 per share	21,643 ordinary shares	R1.643
14/06/2015	Lloyd I. Miller Trust A-4	1Buy	30.32902 per share	77,297 ordinary shares	77,297
5/06/2015	Lloyd I. Miller Trust A-4	iBuy	is0.322 per share	97,484 ordinary shares	97,484
0/06/2015	Lioyd I. Miller Trust A-4	lBuy	1\$0.3204 per share	65,063 ordinary shares	85.083
10/08/2015	Lloyd I. Miller Trust A-4	lauy.	\$0.3203 per share	114,050 ordinary shares	114.050
12/06/2015	Lloyd I, Miller Trust A-4	louy.	\$0.3208 par share	1,925 ordinary shares	1,025
18/08/2015	Lioyd I. Miller Trust A-4	jEuy i	\$0.31710 per share	34,715 erdinary shares	34,715
17/08/2015	Lloyd I. Miller Trust A-4	lBuy.	\$0,31579 per share	81,048 ordinary chares	81,048
18/08/2015	Lloyd I, Miller Trust A-4	Buy.	SO 315TO por sharo	61,959 ordinary sharas	61,959
19/06/2015	Lloyd I, Miller Truet A-4	leuy.	[SO 31579 per charo]	24,104 ordinary shares	24,104

Date of change	Parson 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
23/08/2015	Lloyd I. Miller Trust A-4 Buy		[\$0,31579 per share	112.356 ordinary shares	12.355
25/06/2014	Lloyd I. Miller Trust A-4 Buy		S0.31328 per share	10.184 ordinary shares	110.184
26/06/2015	[Lloyd I. Miller Trust A-4 Buy		50.31328 per share	140,375 ordinary shares	1140.375

$\sim$ $\sim$

Annexure B

This is Annexure B of 1 page referred to in Form 604

erini name	Lloyd I. Miller, III л. .	copocity	General Partner/ Manager _________
sign hare	ALL ALL AND ARRAIGNMENT v ----------	date ,,,,,,,, .	29/06/2015
	٠

Holder of relevant interest	Registered holder of aecuritiea	Person entitled to be registered as holder (8)	Nature of relevant interest (6)	Class and number of securities	Person's votes
Lloyd I Miller Trust A-4	HSBC Custody Nominoes (Australia) Meminees (Australia) lLtd	HSBC Custody Lld	[Relevant interest under section 608(1)(b) or 608(1)(c) 15,652,400 of the Corporations Act 2001 lordinary shares (Corporations Act)		15.862.400
Lieyd I. Miller, III	JPMorgen Nominees (JPMorgan Nominees Australia lLtd	Australia Ltd	Relavant interest under Corporations Act eaction (808(1)(b) or 808(1)(c)	1,402,345 jordinary shares	1 402 345
Millem II L.P.	HSBC Custedy Nominees (Australia) Nominees (Australia) Ltd	HSBC Custody Lid	Relevant Inlerest under Corporations Act section 1608(1)(b) or 608(1)(c)	4.508.131 ordinary shares	4 508 131
lCatherine Miller Trust ⊂.	UPMorgan Nominees UPMorgan Nominees Australia Ltd	Australia Ltd	Relavant interast under Corporations Act section 1808(1)(b) ar 608(1)(c)	13,847 ordinary ishares	13,847
LIMFAM LLC	HSBC Custody INominees Australia Ltd.	HSBC Custody Nominees Australia Ltd.	Relevant interest under Corporations Act section (608(1)(b) or 608(1)(c)	109,660 ordinary lahares	109.660

$\mathcal{A}$