INSIGNIA FINANCIAL LTD — Major Shareholding Notification 2018

Feb 18, 2018

Form 605 Corporations Act 2001 Section 671B

Notice of ceasing to be a substantial holder

To : Doray Minerals Ltd ACN: 138 978 631 ASX Code: DRM

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.

The holder ceased to be a substantial holder on: 15/02/2018 The previous notice was given to the company on: 02/10/2017 The previous notice was dated: 27/09/2017

2. 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 as follows:

Date 2/10/2017 15/01/2018 16/01/2018 24/01/2018 25/01/2018 8/02/2018	Person	Nature	Consideration	Class & number (ord)	Person's votes
	Perennial Value Management Limited(ACN090 879 904)	Sold on market	-$163,088.94	-846,417	-846,417
	Perennial Value Management Limited(ACN 090 879 904)	Sold on market	-$99,630.83	- 332,835	- 332,835
	Perennial Value Management Limited(ACN 090 879 904)	Sold on market	-$15,872.82	- 53,026	- 53,026
	Perennial Value Management Limited(ACN090 879 904)	Sold on market	-$74,984.14	- 268,391	- 268,391
	Perennial Value Management Limited(ACN 090 879 904)	Sold on market	-$105,033.02	- 375,945	- 375,945
	Perennial Value Management Limited(ACN 090 879 904)	Purchased on market	$65,534.36	267,009	267,009

2

9/02/2018	Perennial Value Management Limited(ACN 090 879 904)	Purchased on market	$40,770.50	170,000	170,000
15/02/2018	Perennial Value Management Limited(ACN 090 879 904)	Sold on market	-$1,558,190.73	- 5,129,207	- 5,129,207

3. 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

4. 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 27, 88 Phillips Street, Sydney NSW 2000
Doray Minerals Limited	Level 1, 1292 Hay Street, WEST PERTH, WA, AUSTRALIA, 6005