INSIGNIA FINANCIAL LTD — Major Shareholding Notification 2012

Feb 13, 2012

Form 604 Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To: GERARD LIGHTING GROUP LIMITED ACN: 141 079 594 ASX Code: GLG

1. Details of substantial holder

Name: IOOF Holdings Limited ACN: 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: 10/02/2012 The previous notice was given to the company on: 29/12/2010 The previous notice was dated: 23/12/2010

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 of securities	Previous notice		Present notice
	Person's votes	Voting Power	Person's votes	Voting Power
Ordinary	12,555,599	7.094%	14,765,485	8.342%

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's votes
Perennial Investment Partners Limited (ACN 087 901620)	Purchased on market	$ 1,133,861.42	1,300,000	1,300,000
Perennial Investment Partners Limited (ACN 087 901620)	Purchased on market	$ 225,569.25	250,000	250,000

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23/02/2011	Perennial Investment Partners Limited (ACN 087 901620)	Sold on market	-$ 91,767.24	- 100,000	- 100,000
19/04/2011	Perennial Investment Partners Limited (ACN 087 901620)	Purchased on market	$ 131,741.91	152,854	152,854
6/05/2011	Perennial Investment Partners Limited (ACN 087 901620)	Purchased on market	$ 10,879.66	12,058	12,058
1/06/2011	Perennial Investment Partners Limited (ACN 087 901620)	Sold on market	-$ 3,850.23	- 4,000	- 4,000
2/06/2011	Perennial Investment Partners Limited (ACN 087 901620)	Sold on market	-$ 107,236.93	- 115,601	- 115,601
28/07/2011	Perennial Investment Partners Limited (ACN 087 901620)	Sold on market	-$ 46,382.35	- 50,000	- 50,000
1/08/2011	Perennial Investment Partners Limited (ACN 087 901620)	Sold on market	-$ 9,276.48	- 10,000	- 10,000
2/08/2011	Perennial Investment Partners Limited (ACN 087 901620)	Sold on market	-$ 13,572.38	- 14,500	- 14,500
3/08/2011	Perennial Investment Partners Limited (ACN 087 901620)	Sold on market	-$ 14,962.05	- 16,000	- 16,000
17/08/2011	Perennial Investment Partners Limited (ACN 087 901620)	Sold on market	-$ 4,638.24	- 5,000	- 5,000
4/11/2011	Perennial Investment Partners Limited (ACN 087 901620)	Sold on market	-$ 13,987.28	- 17,500	- 17,500
23/11/2011	Perennial Investment Partners Limited (ACN 087 901620)	Sold on market	-$ 398.99	- 500	- 500
1/12/2011	Perennial Investment Partners Limited (ACN 087 901620)	Purchased on market	$ 196,495.88	280,000	280,000
13/12/2011	Perennial Investment Partners Limited (ACN 087 901620)	Purchased on market	$ 2,096.29	3,075	3,075
14/12/2011	Perennial Investment Partners Limited (ACN 087 901620)	Purchased on market	$ 13,544.19	20,000	20,000
8/02/2012	Perennial Investment Partners Limited (ACN 087 901620)	Purchased on market	$ 57,745.73	80,000	80,000
10/02/2012	Perennial Investment Partners Limited (ACN 087 901620)	Purchased on market	$ 321,210.60	445,000	445,000

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 of securities	Person Entitled to be holder	Nature of relevant interest	Class & Number (Ord)	Person's votes
Perennial Investment Partners Limited (ACN 087 901620)	NAB Asset Servicing		InvestmentManager	7,309,402	7,309,402
Perennial Investment Partners Limited (ACN 087 901620)	BNP		Investment Manager	7,456,083	7,456,083

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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
IOOF Holdings Limited	Level 6, 161 Collins Street Melbourne Victoria 3000
Perennial Investment Partners Limited	Level 24, 303 Collins Street MelbourneVictoria 3000
GERARD LIGHTING GROUP LIMITED	101 Port Wakefield Road, CAVAN, SA, AUSTRALIA, 5094