IGO LIMITED — Major Shareholding Notification 2016

Nov 23, 2016

Form 604 Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme Windward Resources Ltd ( Windward )

ACN/ARSN 158 432 270

1. Details of substantial holder (1)

Name Independence Group NL (ACN 092 786 304) ( Independence ) and each of the entities listed in Annexure A ACN/ARSN (if applicable) See Annexure A

There was a change in the interests of the substantial holder on 23/11/2016 The previous notice was given to the company on 20/11/2016 The previous notice was dated 20/11/2016

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	Previous notice	Present notice	Present notice
	Person’s votes	Voting power(5)	Person’s votes	Voting power(5)
Fully paid ordinary shares	101,473,991	93.91% (based on 108,057,031 ordinary shares on issue)	102,556,892	94.91% (based on 108,057,031 ordinary shares on issue)

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:

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
21/11/2016	Independence	On-market purchases as permitted by section 611 Item 2 of the Corporations Act.	Total of $9,500.00 cash	50,000 fully paid ordinary shares	50,000
21/11/2016	Independence	Acquisition of a relevant interest as a result of acceptances of offers dated 17 October 2016 under IGO’s takeover bid for all of the fully paid ordinary shares in Windward on the terms set out in IGO’s bidder’s statement dated 10 October 2016 (Offer).	$0.19 for each ordinary Windward share, subject to the terms of the Offer	402,000 fully paid ordinary shares	402,000
22/11/2016	Independence	Acquisition of a relevant interest as a result of acceptances of the Offer.	$0.19 for each ordinary Windward share, subject to the terms of the Offer	10,421 fully paid ordinary shares	10,421
23/11/2016	Independence	Acquisition of a relevant interest as a result of acceptances of the Offer.	$0.19 for each ordinary Windward share, subject to the terms of the Offer	620,480 fully paid ordinary shares	620,480

4. Present relevant interests

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

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Nature of relevant interest (6)	Class and number of securities	Person’s votes
Independence	Independence	Independence	Independence has a relevant interest under section 608(1) of the Corporations Act.	101,925,991 fully paid ordinary shares	101,925,991
Independence	Various offerees who have accepted the Offer	Independence	Independence has a relevant interest under section 608(1) and/or section 608(8) of the Corporations Act. The shares which are the subject of acceptances of the Offer have not yet been transferred from the offerees.	630,901 fully paid ordinary shares	630,901

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/ARSN (if applicable)	Nature of association
N/A	N/A

6. Addresses

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

Name	Address
Independence and each company listed in Annexure A	Suite 4, Level 5, South Shore Centre, 85 South Perth Esplanade, South Perth, Western Australia

Signature

print name sign here	JOANNE MCDONALD capacity Company Secretary
	date 23/11/2016

ANNEXURE A

This Annexure A of 1 page referred to in Form 604 – Notice of change of interests of substantial holder signed by me and dated 23 November 2016

==> picture [108 x 54] intentionally omitted <==

Joanne McDonald Company Secretary Independence Group NL (ACN 092 786 304)

Related bodies corporate of Independence Group NL (ACN 092 786 304)

Independence Long Pty Ltd (ACN 098 270 789) Independence Jaguar Pty Ltd (ACN 060 620 751) Independence Karlawinda Pty Ltd (ACN 146 899 863) Independence Newsearch Pty Ltd (ACN 142 192 701) Independence Nova Holdings Pty Ltd (ACN 009 150 083) Independence Nova Pty Ltd (ACN 146 091 527) Independence Europe Pty Ltd (ACN 167 644 519) Independence Stockman Parent Pty Ltd (ACN 124 695 549) Independence Stockman Project Pty Ltd (ACN 124 695 567) Independence Jaguar Project Parent Pty Ltd (ACN 145 736 278) Independence Jaguar Project Pty Ltd (ACN 145 739 251) Independence Group Europe AB (entity registered in Sweden)