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INSIGNIA FINANCIAL LTD — Major Shareholding Notification 2025
Nov 26, 2025
65104_rns_2025-11-26_12b554dc-6e59-45d3-a3e7-ed1bdc497867.pdf
Major Shareholding Notification
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Corporations Act 2001 Section 671B
Form 603
Notice of initial substantial holder
To: JUDO CAPITAL HOLDINGS LIMITED ACN: 612 862 727 ASX Code: JDO
1. Details of substantial holder
Name: Insignia Financial Ltd ACN: 100 103 722
This notice is given by Insignia Financial Ltd on behalf of itself and its subsidiaries.
The holder became a substantial shareholder on:
17-Nov-2025
2. Previous and present voting power
The total number of votes attached to all the voting shares in the company or voting interest in the scheme that the substantial holder or an associate had a relevant interest in on the date the substantial holder is as follows:
| Class of securities | Number of securities | Person's votes | Voting Power |
|---|---|---|---|
| Ordinary | 57,805,494 | 57,805,494 | 5.156% |
3. Details of present registered holders
The persons registered as holders of the securities are as follows:
| Holder | Registered holder | Person | Nature of | Class & | Person's |
|---|---|---|---|---|---|
| of securities | Entitled to | relevant interest | Number(Ord) | votes | |
| be holder | |||||
| MLC Investments Ltd (ACN 004 | UBS Nominees Pty | Pursuant to section | 930,242 | 930,242 | |
| 278 899) | Ltd | 608 of the | |||
| Corporations Act | |||||
| IOOF Investment Management | IOOF Investment | Pursuant to section | 950,969 | 950,969 | |
| Ltd(ACN 006 695 021) | Services Ltd | 608 of the | |||
| Corporations Act | |||||
| IOOF Investment Services Ltd | JPMorgan Nominees | Pursuant to section | 19,018,060 | 19,018,060 | |
| (ACN 007 350 405) | Australia Pty Limited | 608 of the | |||
| Corporations Act | |||||
| MLC Investments Ltd (ACN 004 | National | Pursuant to section | 30,719,854 | 30,710,854 | |
| 278 899) | Nominees(NAS) | 608 of the | |||
| CorporationsAct | |||||
| OnePath Fund Management | J.P. Morgan | Pursuant to section | 6,186,369 | 6,186,369 | |
| Limited (ACN 003 002 800) | Nominees Australia | 608 of the | |||
| PtyLimited | Corporations Act | ||||
4. Consideration
The consideration paid for each relevant interest and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:
| Date | Person | Nature | Consideration | Class & | Person’s |
|---|---|---|---|---|---|
| number(ord) | votes | ||||
| 2025-08-18 | IOOF Investment Management Ltd | Sold on market | -40 | -23 | -23 |
| (ACN006 695 021) | |||||
| 2025-08-19 | IOOF Investment Management Ltd | Sold on market | -112 | -66 | -66 |
| (ACN006 695 021) | |||||
| 2025-08-20 | MLC Investments Ltd (ACN 004 278 | Purchased on | 108,490 | 60,750 | 60,750 |
| 899) | market | ||||
| 2025-08-20 | IOOF Investment Management Ltd | Sold on market | -979 | -566 | -566 |
| (ACN006 695 021) | |||||
| 2025-08-20 | MLC Investments Ltd (ACN 004 278 | Purchased on | 558,971 | 311,337 | 311,337 |
| 899) | market | ||||
| 2025-08-21 | MLC Investments Ltd (ACN 004 278 | Sold on market | -34,248 | -19,547 | -19,547 |
| 899) | |||||
| 2025-08-21 | IOOF Investment Management Ltd | Sold on market | -791 | -446 | -446 |
| (ACN006 695 021) | |||||
| 2025-08-22 | IOOF Investment Management Ltd | Purchased on | 873 | 483 | 483 |
| (ACN006 695 021) | market | ||||
| 2025-08-25 | MLC Investments Ltd (ACN 004 278 | Purchased on | 571,193 | 315,807 | 315,807 |
| 899) | market | ||||
| 2025-08-25 | IOOF Investment Management Ltd | Purchased on | 64,248 | 35,784 | 35,784 |
| (ACN006 695 021) | market | ||||
| 2025-08-25 | MLC Investments Ltd (ACN 004 278 | Sold on market | -4,338 | -2,404 | -2,404 |
| 899) | |||||
| 2025-08-26 | IOOF Investment Management Ltd | Purchased on | 10,900 | 6,229 | 6,229 |
| (ACN006 695 021) | market | ||||
| 2025-08-26 | MLC Investments Ltd (ACN 004 278 | Purchased on | 753,830 | 428,055 | 428,055 |
| 899) | market | ||||
| 2025-08-27 | MLC Investments Ltd (ACN 004 278 | Sold on market | -481,699 | -269,089 | -269,089 |
| 899) | |||||
| 2025-08-28 | IOOF Investment Management Ltd | Purchased on | 6,742 | 3,888 | 3,888 |
| (ACN 006 695 021) | market | ||||
| 2025-08-29 | IOOF Investment Management Ltd | Purchased on | 6,214 | 3,642 | 3,642 |
| (ACN006 695 021) | market | ||||
| 2025-08-31 | IOOF Investment Management Ltd | Purchased on | 263 | 156 | 156 |
| (ACN006 695 021) | market | ||||
| 2025-09-01 | IOOF Investment Management Ltd | Sold on market | -244 | -149 | -149 |
| (ACN006 695 021) | |||||
| 2025-09-01 | MLC Investments Ltd (ACN 004 278 | Sold on market | -228,656 | -131,822 | -131,822 |
| 899) | |||||
| 2025-09-02 | IOOF Investment Management Ltd | Sold on market | -695 | -430 | -430 |
| (ACN006 695 021) | |||||
| 2025-09-03 | IOOF Investment Management Ltd | Purchased on | 4,100 | 2,500 | 2,500 |
| (ACN006 695 021) | market | ||||
| 2025-09-04 | IOOF Investment Management Ltd | Sold on market | -22,707 | -13,785 | -13,785 |
| (ACN006 695 021) | |||||
| 2025-09-05 | IOOF Investment Management Ltd | Purchased on | 1,819 | 1,085 | 1,085 |
| (ACN006 695 021) | market | ||||
| 2025-09-08 | MLC Investments Ltd (ACN 004 278 | Purchased on | 208,447 | 127,413 | 127,413 |
| 899) | market | ||||
| 2025-09-08 | IOOF Investment Management Ltd | Sold on market | -838 | -518 | -518 |
| (ACN006 695 021) | |||||
| 2025-09-08 | MLC Investments Ltd (ACN 004 278 | Sold on market | -171,845 | -103,993 | -103,993 |
| 899) | |||||
|---|---|---|---|---|---|
| 2025-09-09 | MLC Investments Ltd (ACN 004 278 | Purchased on | 296,637 | 179,039 | 179,039 |
| 899) | market | ||||
| 2025-09-10 | MLC Investments Ltd (ACN 004 278 | Purchased on | 545,333 | 316,146 | 316,146 |
| 899) | market | ||||
| 2025-09-12 | IOOF Investment Management Ltd | Sold on market | -219 | -126 | -126 |
| (ACN006 695 021) | |||||
| 2025-09-13 | IOOF Investment Management Ltd | Sold on market | -352 | -203 | -203 |
| (ACN006 695 021) | |||||
| 2025-09-15 | IOOF Investment Management Ltd | Purchased on | 273 | 154 | 154 |
| (ACN006 695 021) | market | ||||
| 2025-09-17 | IOOF Investment Management Ltd | Sold on market | -4,590 | -2,650 | -2,650 |
| (ACN006 695 021) | |||||
| 2025-09-19 | IOOF Investment Management Ltd | Purchased on | 4,320 | 2,473 | 2,473 |
| (ACN006 695 021) | market | ||||
| 2025-09-22 | MLC Investments Ltd (ACN 004 278 | Sold on market | -205,467 | -117,687 | -117,687 |
| 899) | |||||
| 2025-09-23 | MLC Investments Ltd (ACN 004 278 | Sold on market | -14,221 | -8,163 | -8,163 |
| 899) | |||||
| 2025-09-23 | IOOF Investment Management Ltd | Purchased on | 709 | 404 | 404 |
| (ACN006 695 021) | market | ||||
| 2025-09-23 | MLC Investments Ltd (ACN 004 278 | Purchased on | 749,417 | 423,914 | 423,914 |
| 899) | market | ||||
| 2025-09-24 | IOOF Investment Management Ltd | Sold on market | -1,561 | -899 | -899 |
| (ACN 006 695 021) | |||||
| 2025-09-26 | IOOF Investment Management Ltd | Sold on market | -4,153 | -2,400 | -2,400 |
| (ACN006 695 021) | |||||
| 2025-09-29 | IOOF Investment Management Ltd | Sold on market | -686 | -394 | -394 |
| (ACN006 695 021) | |||||
| 2025-09-29 | MLC Investments Ltd (ACN 004 278 | Sold on market | -15,284 | -8,740 | -8,740 |
| 899) | |||||
| 2025-09-30 | IOOF Investment Management Ltd | Purchased on | 698 | 393 | 393 |
| (ACN006 695 021) | market | ||||
| 2025-10-01 | MLC Investments Ltd (ACN 004 278 | Sold on market | -284,022 | -162,356 | -162,356 |
| 899) | |||||
| 2025-10-02 | IOOF Investment Management Ltd | Sold on market | -12,405 | -7,000 | -7,000 |
| (ACN006 695 021) | |||||
| 2025-10-03 | MLC Investments Ltd (ACN 004 278 | Purchased on | 29,018 | 16,277 | 16,277 |
| 899) | market | ||||
| 2025-10-03 | IOOF Investment Management Ltd | Purchased on | 647 | 359 | 359 |
| (ACN006 695 021) | market | ||||
| 2025-10-06 | IOOF Investment Management Ltd | Sold on market | -979 | -563 | -563 |
| (ACN006 695 021) | |||||
| 2025-10-06 | MLC Investments Ltd (ACN 004 278 | Sold on market | -718,976 | -403,723 | -403,723 |
| 899) | |||||
| 2025-10-07 | IOOF Investment Management Ltd | Purchased on | 718 | 409 | 409 |
| (ACN006 695 021) | market | ||||
| 2025-10-08 | IOOF Investment Management Ltd | Sold on market | -604 | -371 | -371 |
| (ACN006 695 021) | |||||
| 2025-10-09 | IOOF Investment Management Ltd | Purchased on | 807 | 478 | 478 |
| (ACN006 695 021) | market | ||||
| 2025-10-10 | IOOF Investment Management Ltd | Sold on market | -335 | -199 | -199 |
| (ACN006 695 021) | |||||
| 2025-10-11 | IOOF Investment Management Ltd | Purchased on | 276 | 168 | 168 |
| (ACN006 695 021) | market | ||||
| 2025-10-13 | IOOF Investment Management Ltd | Purchased on | 1,665 | 1,000 | 1,000 |
| (ACN 006 695 021) | market | ||||
| 2025-10-14 | IOOF Investment Management Ltd | Sold on market | -68 | -50 | -50 |
| (ACN006 695 021) |
| 2025-10-15 | MLC Investments Ltd (ACN 004 278 | Sold on market | -1,535,009 | -930,242 | -930,242 |
|---|---|---|---|---|---|
| 899) | |||||
| 2025-10-15 | IOOF Investment Management Ltd | Purchased on | 1,142 | 677 | 677 |
| (ACN006 695 021) | market | ||||
| 2025-10-16 | IOOF Investment Management Ltd | Sold on market | -8,954 | -5,500 | -5,500 |
| (ACN006 695 021) | |||||
| 2025-10-17 | IOOF Investment Management Ltd | Purchased on | 276 | 169 | 169 |
| (ACN006 695 021) | market | ||||
| 2025-10-18 | IOOF Investment Management Ltd | Purchased on | 258 | 158 | 158 |
| (ACN006 695 021) | market | ||||
| 2025-10-20 | IOOF Investment Management Ltd | Sold on market | -664 | -392 | -392 |
| (ACN006 695 021) | |||||
| 2025-10-21 | IOOF Investment Management Ltd | Sold on market | -65 | -38 | -38 |
| (ACN006 695 021) | |||||
| 2025-10-21 | MLC Investments Ltd (ACN 004 278 | Purchased on | 168,183 | 98,312 | 98,312 |
| 899) | market | ||||
| 2025-10-22 | IOOF Investment Management Ltd | Purchased on | 4,139 | 2,305 | 2,305 |
| (ACN006 695 021) | market | ||||
| 2025-10-22 | MLC Investments Ltd (ACN 004 278 | Purchased on | 110,091 | 62,717 | 62,717 |
| 899) | market | ||||
| 2025-10-23 | IOOF Investment Management Ltd | Sold on market | -15,745 | -8,885 | -8,885 |
| (ACN006 695 021) | |||||
| 2025-10-23 | MLC Investments Ltd (ACN 004 278 | Purchased on | 155,520 | 87,381 | 87,381 |
| 899) | market | ||||
| 2025-10-24 | IOOF Investment Management Ltd | Sold on market | -927 | -527 | -527 |
| (ACN006 695 021) | |||||
| 2025-10-24 | MLC Investments Ltd (ACN 004 278 | Purchased on | 821,463 | 463,800 | 463,800 |
| 899) | market | ||||
| 2025-10-25 | IOOF Investment Management Ltd | Sold on market | -591 | -337 | -337 |
| (ACN006 695 021) | |||||
| 2025-10-27 | IOOF Investment Management Ltd | Purchased on | 326 | 188 | 188 |
| (ACN006 695 021) | market | ||||
| 2025-10-27 | MLC Investments Ltd (ACN 004 278 | Purchased on | 2,198,762 | 1,231,150 | 1,231,150 |
| 899) | market | ||||
| 2025-10-28 | IOOF Investment Management Ltd | Purchased on | 1,060 | 609 | 609 |
| (ACN006 695 021) | market | ||||
| 2025-10-28 | MLC Investments Ltd (ACN 004 278 | Purchased on | 31,280 | 17,909 | 17,909 |
| 899) | market | ||||
| 2025-10-29 | IOOF Investment Management Ltd | Purchased on | 26,874 | 15,453 | 15,453 |
| (ACN006 695 021) | market | ||||
| 2025-10-31 | IOOF Investment Management Ltd | Purchased on | 1,037 | 601 | 601 |
| (ACN006 695 021) | market | ||||
| 2025-11-03 | IOOF Investment Management Ltd | Purchased on | 395 | 229 | 229 |
| (ACN006 695 021) | market | ||||
| 2025-11-04 | IOOF Investment Management Ltd | Purchased on | 8,853 | 5,323 | 5,323 |
| (ACN006 695 021) | market | ||||
| 2025-11-05 | IOOF Investment Management Ltd | Sold on market | -1,516 | -931 | -931 |
| (ACN006 695 021) | |||||
| 2025-11-05 | MLC Investments Ltd (ACN 004 278 | Purchased on | 656,200 | 400,000 | 400,000 |
| 899) | market | ||||
| 2025-11-06 | IOOF Investment Management Ltd | Purchased on | 9,667 | 5,777 | 5,777 |
| (ACN006 695 021) | market | ||||
| 2025-11-06 | MLC Investments Ltd (ACN 004 278 | Purchased on | 582,103 | 347,963 | 347,963 |
| 899) | market | ||||
| 2025-11-07 | IOOF Investment Management Ltd | Sold on market | -1,186 | -718 | -718 |
| (ACN006 695 021) | |||||
| 2025-11-10 | IOOF Investment Management Ltd | Sold on market | -12 | -11 | -11 |
| (ACN006 695 021) | |||||
| 2025-11-11 | IOOF Investment Management Ltd | Purchased on | 49,876 | 30,396 | 30,396 |
| (ACN006 695 021) | market | ||||
|---|---|---|---|---|---|
| 2025-11-12 | IOOF Investment Management Ltd | Purchased on | 4,945 | 3,104 | 3,104 |
| (ACN006 695 021) | market | ||||
| 2025-11-13 | IOOF Investment Management Ltd | Purchased on | 1,139 | 761 | 761 |
| (ACN006 695 021) | market | ||||
| 2025-11-13 | MLC Investments Ltd (ACN 004 278 | Purchased on | 757,317 | 488,575 | 488,575 |
| 899) | market | ||||
| 2025-11-14 | IOOF Investment Management Ltd | Purchased on | 91,931 | 61,694 | 61,694 |
| (ACN006 695 021) | market | ||||
| 2025-11-14 | MLC Investments Ltd (ACN 004 278 | Purchased on | 1,487,880 | 1,000,000 | 1,000,000 |
| 899) | market | ||||
| 2025-11-16 | IOOF Investment Management Ltd | Purchased on | 2,011 | 1,332 | 1,332 |
| (ACN006 695 021) | market | ||||
| 2025-11-17 | IOOF Investment Management Ltd | Sold on market | -2,241 | -1,493 | -1,493 |
| (ACN006 695 021) | |||||
| 2025-11-17 | MLC Investments Ltd (ACN 004 278 | Purchased on | 1,098,331 | 725,191 | 725,191 |
| 899) | market | ||||
5. Associates
| Name & ACN | Nature of association |
|---|---|
| Not applicable | |
6. Addresses
The addresses of persons named in this form are as follows:
| Name | Address |
|---|---|
| Insignia Financial Ltd | Level 1, 800Bourke Street |
| Docklands Victoria3008 | |
| Judo Capital Holdings Limited | Level 26, Queenand Collins, 376-390 Collins St |
| MelbourneVIC 3000 | |
| IOOF Investment Management Ltd | Level 1, 800Bourke Street |
| Docklands,VIC 3008 | |
| IOOF Investment Services Ltd | Level 1, 800Bourke Street |
| Docklands,VIC 3008 | |
| OnePath Fund Management Limited | Level 1, 800 Bourke Street, |
| DocklandsVIC 3008 | |
| J.P. Morgan Nominees Australia Pty Limited | 32/225 George Street |
| TheRocksNSW 2000 | |
| UBS Nominees Pty Ltd | Level 16, Chifley Tower, 2 Chifley Square |
| SydneyNSW 2000 | |
| MLC Investments Ltd | Level 1, 800 Bourke Street |
| Docklands,VIC 3008 |