METGASCO LTD — Major Shareholding Notification 2016

Sep 7, 2016

603 Page 1 of 3 15 July 2001

Form 603

Corporations Act 2001

Section 671B

Notice of initial substantial holder

To Company Name/Scheme

METGASCO LIMITED ( MEL )

ACN/ARSN 088 196 383

1. Details of substantial holder (1)

Name Aurora Funds Management Limited (ACN 092 626 885)

ACN/ARSN (if applicable)

The holder became a substantial holder on

7 September 2016

2. Details of 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 (2) had a relevant interest (3) in on the date the substantial holder became a substantial holder are as follows:

Class of securities (4)	Number of securities	Person's votes (5)	Voting power (6)
Ordinary shares	20,282,931	20,282,931	5.09%

3. Details of relevant interests

The nature of the relevant interest the substantial holder or an associate had in the following voting securities on the date the substantial holder became a substantial holder are as follows:

Holder of relevant interest	Nature of relevant interest (7)	Class and number of securities
Aurora Funds Management Limited ACN 092 626 885 (AFML) as responsible entity of Aurora Fortitude Absolute Return Fund ARSN 145 894 800	Relevant interest under section 608(1)(b) and/or 608(1)(c) of the Act, being a relevant interest arising from having the power to control the exercise of the right to vote attached to securities and/or to control the exercise of the power to dispose of the securities in its capacity as responsible entity of a managed investment scheme.	397,351 ordinary shares
AFML as responsible entity of Aurora Global Income Trust ARSN 127 692 406	Relevant interest under section 608(1)(b) and/or 608(1)(c) of the Act, being a relevant interest arising from having the power to control the exercise of the right to vote attached to securities and/or to control the exercise of the power to dispose of the securities in its capacity as responsible entity of a managed investment scheme.	800,000 ordinary shares
AFML as responsible entity of HHY Fund ARSN 112 579 129	Relevant interest under section 608(1)(b) and/or 608(1)(c) of the Act, being a relevant interest arising from having the power to control the exercise of the right to vote attached to securities and/or to control the exercise of the power to dispose of the securities in its capacity as responsible entity of a managed investment scheme.	19,085,580 ordinary shares

603 Page 2 of 3 15 July 2001

4. Details of present registered holders

The persons registered as holders of the securities referred to in paragraph 3 above are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered asholder(8)	Class and number of securities
AFML as responsible entity of Aurora Fortitude Absolute Return Fund ARSN 145 894 800	UBS Nominees		397,351 ordinary shares
AFML as responsible entity of Aurora Global Income Trust ARSN 127692 406	UBS Nominees		800,000 ordinary shares
AFML as responsible entity of HHY Fund ARSN 112 579 129	AFML as responsible entity of HHY Fund ARSN 112 579 129		14,805,836 ordinary shares
AFML as responsible entity of HHY Fund ARSN 112 579 129	ABN Amro Clearing Sydney Nominees Pty Ltd		4,279,744 ordinary shares
		TOTAL	20,282,931

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Holder of relevant interest	Date of acquisition	Consideration (9)		Class and number of securities
		Cash	Non-cash
Refer to Appendix A to this notice

6. Associates

The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

Name and ACN/ARSN (if applicable)	Nature of association
N/A	N/A

7. Addresses

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

Name	Address
Aurora Funds Management Limited	Level 6, 2 Russell Street, Melbourne VIC 3000

603 Page 3 of 3 15 July 2001

Signature

print name sign here	Betty Poon capacity Company Secretary
	date 8 September 2016

DIRECTIONS

• (1) If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 7 of the form.

• (2) See the definition of "associate" in section 9 of the Corporations Act 2001.

• (3) See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.

• (4) The voting shares of a company constitute one class unless divided into separate classes.

• (5) The total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or an associate has a relevant interest in.

• (6) The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.

• (7) Include details of:

• (a) any relevant agreement or other circumstances by which the relevant interest was acquired. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and

• (b) any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

• See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• (8) If the substantial holder is unable to determine the identity of the person ( eg. if the relevant interest arises because of an option) write "unknown".

• (9) Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.

Annexure A

This is page 1 of 1 Annexure A referred to in Form 603 Notice of initial substantial holder, signed by me and dated 8 September 2016.

---

Betty Poon, Company Secretary

Transactions:

Company Name/Scheme: METGASCO LIMITED (MEL) Class of security: Ordinary Fully Paid

Aurora Funds Management Limited (ACN 092 626 885) as responsible entity of Aurora Fortitude Absolute Return Fund (ARSN 145 894 800)

Holder of relevant interest	Date of acquisition	Consideration cash per security	Consideration non-cash per security	Number of securities affected
Aurora Funds Management Limited (ACN 092 626 885) as responsible entity of Aurora Fortitude Absolute Return Fund (ARSN 145 894 800)	31 May 2016	0.0534	N/A	510,000

Aurora Funds Management Limited (ACN 092 626 885) as responsible entity of Aurora Global Income Trust (ARSN 127 692 406)

Holder of relevant interest	Date of acquisition	Consideration cash per security	Consideration non-cash per security	Number of securities affected
Aurora Funds Management Limited (ACN 092 626 885) as responsible entity of Aurora Global Income Trust (ARSN 127 692 406)	N/A	N/A	N/A	N/A

Aurora Funds Management Limited (ACN 092 626 885) as responsible entity of HHY Fund (ARSN 145 894 800)

800)
Holder of relevant interest	Date of acquisition	Consideration cash per security	Consideration non-cash per security	Number of securities affected
Aurora Funds Management Limited (ACN 092 626 885) as responsible entity of HHY Fund (ARSN 112 579 129 )	5 September 2016	$0.063	$0.000	50,000
Aurora Funds Management Limited (ACN 092 626 885) as responsible entity of HHY Fund (ARSN 112 579 129 )	6 September 2016	$0.063	$0.000	170,852
Aurora Funds Management Limited (ACN 092 626 885) as responsible entity of HHY Fund (ARSN 112 579 129 )	7 September 2016	$0.063	$0.000	591,216