INSIGNIA FINANCIAL LTD — Major Shareholding Notification 2018

Mar 20, 2018

Form 604 Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To : SRG Limited ACN: 105 984 003 ASX Code: SRG

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: 02/03/2018 The previous notice was given to the company on: 04/01/2018 The previous notice was dated: 20/12/2017

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	4,470,373	6.814%	5,205,041	7.832%

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 Value Management Limited (ACN 090 879 904)	Purchased on market	$948,088.72	556,475	556,475
Perennial Value Management Limited (ACN 090 879 904)	Purchased on market	$68,963.98	40,478	40,478

2

15/03/2018	Perennial Value Management Limited (ACN 090 879 904)	Purchased on market	$2,638.36	1,567	1,567
16/03/2018	Perennial Value Management Limited (ACN 090 879 904)	Purchased on market	$112,291.00	67,148	67,148

4. Present Relevant Interests

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

Holder Perennial Value Management Limited (ACN 090 879 904)	Registered holder of securities	Person Entitled to be holder	Nature of relevant interest	Class & Number (Ord)	Person's votes
	NAB Asset Servicing		Investment Manager	2,075,153	2,075,153
Perennial Value Management Limited (ACN 090 879 904)	Citigroup		Investment Manager	1,842,941	1,842,941
Perennial Value Management Limited (ACN 090 879 904)	BNP		Investment Manager	1,286,947	1,286,947

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
SRG Limited	Level 1, 338 Barker Road Subiaco WA 6008
Perennial Value Management Limited	Level 27, 88 Phillip Street Sydney,NSW 2000