INSIGNIA FINANCIAL LTD — Major Shareholding Notification 2012

Mar 25, 2012

Form 604 Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To: Tox Free Solutions Limited ACN: 058 596 124 ASX Code: TOX

1. Details of substantial holder

Name: IOOF Holdings Limited ACN: 100 103 722

This notice is given by IOOF Holdings Limited on behalf of itself and its subsidiaries.

There was a change in the interest of the substantial holder on: 22/03/2012 The previous notice was given to the company on: 22/03/2012 The previous notice was dated: 20/03/2012

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 had a relevant interest in when last required and when now required to give a substantial holding notice to the company or scheme, are as follows:

Class ofsecurities	Previous notice		Present notice
	Person's votes	Voting Power	Person's votes	Voting Power
Ordinary	12,214,038	10.661%	10,474,038	9.143%

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:

Person	Nature	Consideration	Class &number(ord)	Person'svotes
Perennial Investment PartnersLimited (ACN 087 901620)	Sold on market	-$ 4,807,605.94	-1,740,000	-1,740,000

2

4. Present Relevant Interests

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

Holder	Registered holder	Person	Nature of relevant	Class &	Person's
	of securities	Entitled	interest	Number	votes
		to be		(Ord)
		holder
Perennial Investment
Partners Limited
(ACN 087 901620)	Northern Trust		InvestmentManager	2,892,865	2,892,865
Perennial Investment
Partners Limited	NAB Asset
(ACN 087 901620)	Servicing		Investment Manager	2,885,718	2,885,718
Perennial Investment
Partners Limited
(ACN 087 901 620)	JP Morgan		Investment Manager	140,720	140,720
Perennial Investment
Partners Limited
(ACN 087 901620)	Citigroup		InvestmentManager	2,443,438	2,443,438
Perennial Investment
Partners Limited
(ACN 087 901620)	BNP		Investment Manager	2,111,297	2,111,297

5. Changes in association

The persons who have become associates of, ceased to be associates of, or have changed the nature of their association with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name & ACN	Nature of association
Not applicable

6. Addresses

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

Name	Address
Tox Free Solutions Limited	Suite 1A, 1050 Hay Street
	West Perth, WA 6872
Perennial Investment Partners Limited	Level 24, 303 Collins Street, Melbourne
	Victoria, 3000
IOOF Holdings Limited	Level 6, 161 Collins Street
	MelbourneVIC 3000