IGO LIMITED — Major Shareholding Notification 2011

Apr 11, 2011

Facsimile Transmission

12/04/11
ASX Announcements
ASX
1300 135 638
Andrew Lane
з
Form 605 - Notice Of Ceasing to be a Substantial Holder

Good Afternoon Message:

Please find attached Form 605 - Notice Of Ceasing to be a Substantial Holder for Independence Group NL.

Please do not hesitate to contact me should you have any queries.

Kind Regards

$\mathbf{v}$

Andrew Lane Investment Administration Manager Orion Asset Management

Orion Asset Management Ltd AFS Licence No 232379 ABN 91 092 873 160 Level 23, 1 Alfred Street Sydney NSW 2000

PO Box R355 Royal Exchange Sydney NSW 1225

www.orionfunds.com.au phone 02 8247 8111 facsimile 02 8247 8110

Form 605 Corporations Act 2001 Section 671B

Notice of ceasing to be a substantial holder

Orlon Asset Management Limited

To:

Independence Group NL

ACN 092 786 304

1. Details of Substantial holder

Name

ACN

092 873 160

The holder ceased to be a substantial holder on: 8th April 2011

The previous notice was given to the company on: 16^th March 2011

The previous notice was dated: 14^th March 2011

2. Changes of Relevant Interests

Particulars of each change in, or change of, a relevant interest of Orion Asset Management Limited (Orion) or an associate in voting securities of the company, since Orion was last required to give a substantial holding notice to the company:

Date of Change	Person whose relevant interest changed	Nature of change	Consideration given in relation to change	Class of securities affected	Number of securities affected	Person's votes affected
15 Mar 2011 to 08 Apr 2011	Orion Asset Management Ltd	Acquisitions	Average Price \$6.80	Ordinary	2,221	0.00%
15 Mar 2011 to 08 Apr 2011	Orion Asset Management Ltd	Sells	Average Price \$5.95	Ordinary	107,135	0.06%
19/08/09 to 11/05/10	Treasury Group Limited	Net of above	Net of above	As above	Net of above	Nel of above

Note, shares in issue changed in this period.

3. Changes in Association

$\bar{\gamma}$

The person who has become associates of, ceased to be associates of, or have changed the nature of their association with Orion in relation to voting interests in the company are as follows:

-------------------------------------- Name and ACN	. Nature of Association
N/A	N/A
	181.081.0
N/A	. N/A
	---------------------------------------

4. Addresses

The addresses of persons named in this form are:

Name	Address
Orion Asset Management Limited	Level 23, 1 Alfred Street SYDNEY NSW 2000
Treasury Group Limited	Level 5, 50 Margaret St Sydney NSW 2000

$7$ as EPM FERRACINA Name: {Director}

$12/$ # / 2011 Date: Signature: