INSIGNIA FINANCIAL LTD — Major Shareholding Notification 2014

May 19, 2014

Form 604 Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To : Mobile Embrace Limited ACN: 089 805 416 ASX Code: MBE

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: 19/05/2014 The previous notice was given to the company on: 17/04/2014 The previous notice was dated: 15/04/2014

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	24,049,938	6.513%	30,104,645	8.152%

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 087 901 620)	Purchased onmarket	$ 65,902.54	295,541	295,541

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22/04/2014	Perennial Investment PartnersLimited(ACN 087 901 620)	Purchased onmarket	$ 83,771.64	371,501	371,501
23/04/2014	Perennial Investment PartnersLimited(ACN 087 901 620)	Purchased onmarket	$ 12,710.26	56,366	56,366
28/04/2014	Perennial Investment PartnersLimited(ACN 087 901 620)	Purchased onmarket	$ 141,526.79	627,627	627,627
29/04/2014	Perennial Investment PartnersLimited(ACN 087 901 620)	Purchased onmarket	$ 67,595.51	299,765	299,765
30/04/2014	Perennial Investment PartnersLimited(ACN 087 901 620)	Purchased onmarket	$ 310,278.65	1,375,989	1,375,989
16/05/2014	Perennial Investment PartnersLimited(ACN 087 901 620)	Purchased onmarket	$ 116,070.61	564,955	564,955
19/05/2014	Perennial Investment PartnersLimited(ACN 087 901 620)	Purchased onmarket	$ 487,790.45	2,462,963	2,462,963

4. Present Relevant Interests

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

HolderPerennial InvestmentPartners Limited(ACN 087901620)	Registered holderof securities	PersonEntitledto beholder	Nature of relevantinterest	Class &Number(Ord)	Person'svotes
	StateStreet		Investment Manager	5,952,765	5,952,765
Perennial InvestmentPartners Limited(ACN 087901 620)	NAB AssetServicing		Investment Manager	12,712,502	12,712,502
Perennial InvestmentPartners Limited(ACN 087901620)	Citigroup		Investment Manager	3,734,386	3,734,386
Perennial InvestmentPartners Limited(ACN 087901 620)	BNP		Investment Manager	7,704,992	7,704,992

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

3

6. Addresses

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

Name	Address
IOOF Holdings Limited	Level 6, 161 Collins StreetMelbourneVictoria 3000
Perennial Investment Partners Limited	Level 29, 303 Collins Street MelbourneVictoria 3000
Mobile Embrace Limited	Level 10, 100 William StreetWestfield Towers, East Sydney,NSW 2010