GALE PACIFIC LIMITED — Major Shareholding Notification 2012

Apr 12, 2012

	Form 604 Corporations Act 2001 Section 6718
	Notice of change of interests of substantial holder
To Company Name/Scheme	Gale Pacific Limited
ACN/ARSN	082263778
1. Details of substantial holder (1) Name		Invested Bank (Australia) Limited (IBAD and each of the entities set out in Item 4 (Invested
ACN/ARSN (If applicable)	Group) 071 292 594
There was a change in the interests of the substantial holder on	29/03/2012
The previous notice was given to the company on	04/05/2010
The previous notice was dated	04/05/2010
2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interest 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)	Person's votes	Voting power (5)
Ordinary	75,309,874	26.22%

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 or scheme are as follows:

Qate 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 Appendix A

4. Present relevant Interests

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

$\bar{z}$

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (B)	Nature of relevant interest (6)	Class and number of securities	Person's votes
Refer to 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 voting interests in the company or scheme are as follows:

Name and ACN (If applicable)	Nature of association
Refer to Annexure C

13. Apr. 2012 14:08 ASX

No. 1475 P. 2

	The addresses of persons named in this form are as follows: Name	$\ddot{\phantom{1}}$ Address
	Refer to Annexure D
Print Name	Anthony Rubin	Capacity Company Secretary
Sign here		02/04/2012 Date $\cdot$ . ٠

i.

$\frac{1}{2}$ $\frac{1}{4}$

$\sim$

$\mathcal{L}_{\text{in}}$

ANNEXURES

Attached below are the Annexures referred to in the Form 604 dated 2 April 2012.

	$\rightarrow \infty$
Signed:
		Anthony Rubin

2 PPRIL 2012 Dated:

Annexure A

Date of change	Person whose relevant Interest changed	Nature of` change	Consideration given in relation. to change	Class and number of securities affected $\sim$	Person's votes affected 4.94%
	IBAL	Sell	496,399.75	14, 182, 685	4.94%
23-Mar-11 23-Mar-11	Guiness Mahon & Co	Buy	496,399.75	14,182,685
26-May-10	Limited IWPE Nominees as custodian for Williamson Wentworth Fund formally Investec Australia Equity	Buy	14,000.00	100,000
27-May-10	Fund (IAEF) IWPE Nominees as custodian for Williamson	Buy	12,600.00	90,000
28-May-10	Wentworth Fund IWPE Nominees as custodian for Williamson Wentworth Fund	Buy	4,218.38	30,261
31-May-10	IWPE Nominees as custodian for Williamson	Buy	280	2,000
$7$ -Jun-10	Wentworth Fund IWPE Nominees as custodian for Williamson	Buy	4,760.00	34,000
8-Jun-10	Wentworth Fund IWPE Nominees as custodian for Williamson	Buy	630	4,500
9-Jun-10	Wentworth Fund IWPE Nominees as custodian for Williamson	Buy	3,000.00	20,000
$11$ -Jun-10	Wentworth Fund IWPE Nominees as custodian for Williamson	Buy	4,361.02	30,076
15-Jun-10	Wentworth Fund IWPE Nominees as custodian for Williamson	Buy	2,320.00	16,000
16-Jun-10	Wentworth Fund IWPE Nominees as custodian for Williamson Wentworth Fund	Buy	797.5	5,500
$18 - Jun - 10$	IWPE Nominees as custodian for Williamson	Buy	6,757.50	45,050
$21$ -Jun-10	Wentworth Fund IWPE Nominees as custodian for Williamson Wentworth Fund	Buy	3,712.65	24,751

1. Apr. 2012 14:09 ASX

$\frac{1}{4}$

No. 1475 P. 4

$\ddot{\phantom{a}}$

$\langle \cdot \rangle$

$\hat{\mathcal{L}}$

Date of change	Person whose relevant interest changed	Nature of change	Consideration given in relation. to change	Class and number of securities affected	Person's votes affected
22-Jun-10	IWPE Nominees as custodian for Williamson Wentworth Fund	Buy	375	2,500
23-Jun-10	IWPE Nominees as custodian for Williamson Wentworth Fund	Buy	2,464.95	16,433
24-Jun-10	iWPE Nominees as custodian for Williamson Wentworth Fund	Buy	375	2,500
28-Jun-10	IWPE Nominees as custodian for Williamson Wentworth Fund	Buy	1,186.20	7,908
29-Jun-10	IWPE Nominees as custodian for Williamson Wentworth Fund	Buy	14,636.16	91,476
$1$ -Jul- $10$	IWPE Nominees as custodian for Williamson Wentworth Fund	Buy	1,120.00	7,000
$12 -$ Jul-10	IWPE Nominees as custodian for Williamson Wentworth Fund	Buy	1,089.76	6,811
$13 - Ju - 10$	IWPE Nominees as custodian for Williamson Wentworth Fund	Buy	967.68	6,048
$22$ -Jul-10	IWPE Nominees as custodian for Williamson Wentworth Fund	Buy	1,600.00	10,000
28-Jul-10	IWPE Nominees as custodian for Williamson Wentworth Fund	Buy	1,037.00	6,100
$3-Aug-10$	IWPE Nominees as custodian for Williamson Wentworth Fund	Buy	4,561.61	26,833
10-Aug-10	IWPE Nominees as custodian for Williamson Wentworth Fund	Buy	8,279.00	48,700
$11 - Aug-10$	IWPE Nominees as custodian for Williamson Wentworth Fund	Buy	2,837.98	16,694
30-Sep-10	IWPE Nominees as custodian for Williamson Wentworth Fund	Buy	20,000.00	100,000
27-May-11	IWPE Nominees as custodlan for Williamson Wentworth Fund	Buy	27,686.18	136,587
30-May-11	IWPE Nominees as custodian for Williamson Wentworth Fund	Buy	12,967.50	61,750
$31$ -May- $11$	IWPE Nominees as custodian for Williamson Wentworth Fund	Buy	20,906.67	101,292
$1$ -Jun-11	IWPE Nominees as custodian for Williamson Wentworth Fund	Buy	4,000.00	20,000
$2$ -Jun-11	IWPE Nominees as custodian for Williamson Wentworth Fund	Buy	74.2	371

$\frac{1}{2}$ $\frac{1}{4}$

$\ddot{\phantom{a}}$

Date of	Person whose relevant	Nature of	Consideration given in relation	Class and number of securities affected	Person's votes affected
change $\cdot$	Interest changed	change	to change
		Buy	2,298.24	12,096
7-Jun-11	IWPE Nominees as custodian for Williamson
	Wentworth Fund
		Buy	4,000.00	20,000
15-Jun-11	IWPE Nominees as custodian for Williamson
	Wentworth Fund
	IWPE Nominees as	Buy	4,000.00	20,000
$17 - 5$ un $-11$	custodian for Williamson
	Wentworth Fund
	IWPE Nominees as	Buy	1,550.59	8,161
$22$ -Jun-11	custodian for Williamson
	Wentworth Fund
	IWPE Nominees as	Buy	5,780.80	28,904
28-Jun-11	custodian for Williamson
	Wentworth Fund			12,755
29-Jun-11	IWPE Nominees as	Buy	2,614.78
	custodian for Williamson
	Wentworth Fund		410	2,000
$4$ -Jul-11	IWPE Nominees as	Buy
	custodian for Williamson
	Wentworth Fund	Buy	7,172.54	34,988
$5$ -Jul-11	IWPE Nominees as
	custodian for Williamson Wentworth Fund
		Buy	264	1,600
$3-Aug-11$	IWPE Nominees as custodian for Williamson
	Wentworth Fund			167,500
	IWPE Nominees as	Buy	29,312.50
5-Aug-11	custodian for Williamson
	Wentworth Fund			80,900
8-Aug-11	IWPE Nominees as	Buy	14,157.50
	custodian for Williamson
	Wentworth Fund		1,641.33	9,379
16-Aug-11	IWPE Nominees as	Buy
	custodian for Williamson
	Wentworth Fund	Buy	1,858.68	10,621
22-Aug-11	IWPE Nominees as
	custodian for Williamson Wentworth Fund
	IWPE Nominees as	Buy	550.55	3,146
24-Aug-11	custodian for Williamson
	Wentworth Fund			10,000
	IWPE Nominees as	Buy	2,000.00
26-Aug-11	custodian for Williamson
	Wentworth Fund			1,523
	IWPE Nominees as	Buy	319.83
28-Sep-11	custodian for Williamson
	Wentworth Fund			20,000
29-Nov-11	IWPE Nominees as	Buy	4,500.00
	custodian for Williamson
	Wentworth Fund		6,849.00	30,000
30-Nov-11	IWPE Nominees as		Buy
	custodian for Williamson
	Wentworth Fund		1,780.17 Buy	8,477
$2-Dec-11$	IWPE Nominees as
	custodian for Williamson Wentworth Fund

13. Apr. 2012 14:09 ASX

$\frac{1}{4}$

No. 1475 P. 6

$\ddot{\phantom{a}}$

Date of change しょうかい	Person whose relevant Interest changed $\mathbf{r} = \mathbf{r} - \mathbf{r}$	Nature оf change	Consideration given in relation to change	Class and number of securities affected	Person's votes affected
20-Dec-11	IWPE Nominees as custodian for Williamson Wentworth Fund	Buy	8,800.00	40,000
29/03/2012	IWPE Nominees as custodian for Williamson Wentworth Fund	Sell	1,090,319.85	4,396,451	1.53%
29/03/2012	IBAL	Buy	1,090,319.85	4,396,451	1.53%

Annexure B

Holder of relevant Interests	Registered holder of securities	Person entitled to be a registered holder (8)	Nature of relevant Interests	Class and number of securities affected	Person's votes affected
Investec Group	IBAL	IBAL	Registered holder of shares	4,396,451	1,53%
Investec Group	Guiness Mahon & Co Limited	Gulness Mahon & Co Limited	Registered holder of shares	14,182,685	4.94%
Investec Group	MGB Equity Growth Limited (MGB) ATF MGB Equity Growth Unit Trust No 2 (MGB2)	MGB ATF MGB 2	Registered holder of shares	10,130,489	3.53%
Investec Group	IWPE Nominees as custodian for IWPE 2	IWPE ATF IWPE 2	Registered holder of shares. IWPE Nominees is a subsidiary of IBAL.	28,365,369	9.88%
Investec Group	IWPE Nominees as custodian for MG1	IWPE ATF MG1	Registered holder of shares. IWPE Nominees is a subsidlary of IBAL.	18,234,880	6.35%

Annexure C

$\hat{\boldsymbol{\beta}}$

l,

Name and ACN/ARSN	Nature of Association
Guiness Mahon & 1	Guiness Mahon & Co Limited is a wholly owned subsidiary of Investec PLC.
Co Limited

$\ddot{\phantom{a}}$ $\mathcal{L}_{\mathrm{in}}$

$\hat{\mathcal{A}}$

$\sim$

$\frac{1}{2}$ $\frac{1}{4}$

$\frac{1}{2} \left( \mathbf{v} \right)^{-\alpha}$ .

$\ddot{\phantom{1}}$

$\hat{\lambda}$

No. $1475$ P. $7$

$\bar{e}$

Annexure D

Name	Address $\sigma$ , $\sigma_{\rm{max}}$ , $\sigma_{\rm{max}}$
IBAL	Level 31, The Chifley Tower, 2 Chifley Square, Sydney, NSW 2000
Guiness Mahon & Co Limited	2 Gresham Street, London EC2V 7QP, UK
IWPE Nominees	Level 31, The Chifley Tower, 2 Chifley Square, Sydney, NSW 2000
IWPE	Level 31, The Chifley Tower, 2 Chifley Square, Sydney, NSW 2000
MGB	Level 31, The Chifley Tower, 2 Chifley Square, Sydney, NSW 2000

$\frac{1}{1}$

$\sim$ $\sim$

$\mathcal{F}^{\text{max}}{\text{max}}$ and $\mathcal{F}^{\text{max}}{\text{max}}$

$\label{eq:2.1} \frac{1}{\sqrt{2}}\int_{\mathbb{R}^3}\frac{1}{\sqrt{2}}\left(\frac{1}{\sqrt{2}}\right)^2\frac{1}{\sqrt{2}}\left(\frac{1}{\sqrt{2}}\right)^2\frac{1}{\sqrt{2}}\left(\frac{1}{\sqrt{2}}\right)^2.$ $\mathcal{L}^{\text{max}}{\text{max}}$ and $\mathcal{L}^{\text{max}}{\text{max}}$ $\mathcal{L}_{\text{max}}$

$\mathcal{L}(\mathcal{L}^{\text{max}}{\text{max}})$ $\mathcal{L}^{\text{max}}{\text{max}}$ , where $\mathcal{L}^{\text{max}}_{\text{max}}$

$\bar{z}$

No. 1475 P. 8

$\mathcal{F}(\mathcal{C})$

$\sim 10^{-11}$ $\sigma_{\rm{max}}$ $\frac{1}{2}$ $\sim 10^{11}$ km s $^{-1}$

$\hat{u}$ $\mathcal{L}^{\text{max}}$

$\sim$

$\mathcal{A}$ l,

$13.$ Apr. $2012$ $14:10$

ł, $\ddot{\phantom{a}}$ $\overline{a}$

$\bar{z}$

$\ddot{\phantom{a}}$

$\frac{1}{2}$ $\ddot{1}$ $\overline{ASX}$

No. 1475 $P. 9$

$\overline{\phantom{a}}$

Gale Pacific Limited (GAP)
Reference date Soued capital of GAP	287, 191, 658 2-Apr-12
IBAL. Legend	Invested Dank (Australia) Linited
지도 GNICO	Guiness Mahon & Co Limited Investec Wentworth Private Equity Limited
IVPE Nominees	WPE Nominees Pty Ltd
Beneficial holder	Irustee	Registered holder	No.of securities	ż
In Al	뤀	Guiness Mahon & IBAL.	4,396,451	153%
Guiness Mahon & Co Limited	군 깐	Co Limited	14,182,685	494%
MGB2	MGB Equity Growth Pty Ltd	Pty Ltd att MGB2 MGB Equity Growth WPE Nominees as	10,130,489 3.53%
IWPE 2	NAFE	Ņ custodian for IWPE	28,365,369	9.88%
NG1	NYEE	custodian for MG1 NPE Nees as	8,234,880	8.35%
		TOTAL	15,309,874	26.22%

$\sim$ $\mathcal{L}^{\text{max}}{\text{max}}$ and $\mathcal{L}^{\text{max}}{\text{max}}$

$\label{eq:2.1} \frac{1}{\sqrt{2}}\int_{0}^{\infty}\frac{d\mu}{\lambda} \left( \frac{d\mu}{\lambda} \right)^2 \frac{d\mu}{\lambda} \, d\mu \, d\mu \, d\mu \, d\mu \, d\mu \, d\mu \, d\mu \, d\mu$

$\label{eq:2.1} \frac{1}{\sqrt{2}}\int_{0}^{\infty}\frac{1}{\sqrt{2}}\left(\frac{1}{\sqrt{2}}\right)^{2}d\theta.$ $\mathcal{L}^{\mathcal{L}}(\mathcal{L}^{\mathcal{L}})$ and $\mathcal{L}^{\mathcal{L}}(\mathcal{L}^{\mathcal{L}})$ and $\mathcal{L}^{\mathcal{L}}(\mathcal{L}^{\mathcal{L}})$ $\sim 10^6$ $\label{eq:2.1} \frac{1}{2} \int_{\mathbb{R}^3} \left| \frac{d\mu}{d\mu} \right|^2 \, d\mu = \frac{1}{2} \int_{\mathbb{R}^3} \left| \frac{d\mu}{d\mu} \right|^2 \, d\mu = \frac{1}{2} \int_{\mathbb{R}^3} \left| \frac{d\mu}{d\mu} \right|^2 \, d\mu.$

$\mathcal{L}^{\text{max}}{\text{max}}$ and $\mathcal{L}^{\text{max}}{\text{max}}$

No. 1475 P. 10

$\label{eq:2.1} \mathcal{L}{\text{max}} = \frac{1}{2} \sum{i=1}^{N} \frac{1}{2} \sum_{i=1}^{N} \frac{1}{2} \sum_{i=1}^{N} \frac{1}{2} \sum_{i=1}^{N} \frac{1}{2} \sum_{i=1}^{N} \frac{1}{2} \sum_{i=1}^{N} \frac{1}{2} \sum_{i=1}^{N} \frac{1}{2} \sum_{i=1}^{N} \frac{1}{2} \sum_{i=1}^{N} \frac{1}{2} \sum_{i=1}^{N} \frac{1}{2} \sum_{i=1}^{N} \frac{1}{2} \sum_{i=$ $\label{eq:2.1} \frac{1}{2} \sum_{i=1}^n \frac{1}{2} \sum_{j=1}^n \frac{1}{2} \sum_{j=1}^n \frac{1}{2} \sum_{j=1}^n \frac{1}{2} \sum_{j=1}^n \frac{1}{2} \sum_{j=1}^n \frac{1}{2} \sum_{j=1}^n \frac{1}{2} \sum_{j=1}^n \frac{1}{2} \sum_{j=1}^n \frac{1}{2} \sum_{j=1}^n \frac{1}{2} \sum_{j=1}^n \frac{1}{2} \sum_{j=1}^n \frac{1}{2} \sum_{j=1}^n \frac{$

$\label{eq:2.1} \frac{1}{\sqrt{2}}\int_{\mathbb{R}^3}\frac{1}{\sqrt{2}}\left(\frac{1}{\sqrt{2}}\right)^2\left(\frac{1}{\sqrt{2}}\right)^2\left(\frac{1}{\sqrt{2}}\right)^2\left(\frac{1}{\sqrt{2}}\right)^2\left(\frac{1}{\sqrt{2}}\right)^2\left(\frac{1}{\sqrt{2}}\right)^2.$ $\mathcal{A}^{\mathrm{c}}$ , $\mathcal{A}^{\mathrm{c}}$

$\label{eq:2.1} \frac{1}{\sqrt{2}}\int_{\mathbb{R}^3}\frac{1}{\sqrt{2}}\left(\frac{1}{\sqrt{2}}\right)^2\frac{1}{\sqrt{2}}\left(\frac{1}{\sqrt{2}}\right)^2\frac{1}{\sqrt{2}}\left(\frac{1}{\sqrt{2}}\right)^2\frac{1}{\sqrt{2}}\left(\frac{1}{\sqrt{2}}\right)^2.$

$\mathcal{F}_{\text{max}}$ .