METRO MINING LIMITED — Major Shareholding Notification 2016

Nov 6, 2016

604 page 1/2 15 July 2001

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme Metro Mining Limited (Metro) ACN/ARSN 117 765 443

1. Details of substantial holder(1)

Name JOYDAY PTY LTD (“JOYDAY”) ACN/ARSN (if applicable) 103 614 786

There was a change in the interests of the substantial holder on 10 / 10 / 2016 to 1 /11 / 2016 The previous notice was given to the company on 30 / 8 / 2016 The previous notice was dated 24 / 8 / 2016

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 (2) had a relevant interest (3) 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 (4)	Previous notice	Previous notice	Present notice	Present notice
	Person’s votes	Voting power (5)	Person’s votes	Voting power (5)
Fully Paid Ordinary Shares	46,804,456	8.9%	45,621,040	8.7%

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 are as follows:

Date of change	Person whose relevant interest changed	Nature of change (6)	Consideration given in relation to change (7)	Class and number of securities affected	Person’s votes affected
15 / 4 / 2016	JOYDAY	Acceptance of Metro offer to acquire shares in Gulf Alumina Ltd	12,748,800 shares in Gulf Alumina Ltd	42,071,040	42,071,040
15 / 4 / 2016	Equity & Permanent Investment Capital Limited	Acceptance of Metro offer to acquire shares in Gulf AluminaLtd	3,500,000 shares in Gulf Alumina Ltd	11,550,000	11,550,000
6 / 7 / 2016	JOYDAY	On market sale of 7,000,000 shares	$490,000	7,000,000 ordinaryshares	7,000,000
Aug / 2016	JOYDAY	On market sale of 923,726 shares	$125,775.55	923,726 ordinaryshares	923,726
10 Oct to 1 Nov 2016	JOYDAY	On market sale of 1,000,000 shares	$114,658.00	1,000,000 ordinary shares	1,000,000

4. Present relevant interests

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

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Nature of relevant interest (6)	Class and number of securities	Person’s votes
JOYDAY	JOYDAY	JOYDAY	Legal and beneficial owner	34,071,040	6.5%
Equity & Permanent Investment Capital Limited	Equity & Permanent Investment Capital Limited	Equity & Permanent Investment Capital Limited	Legal and beneficial owner	11,550,000	2.2%

604 page 2/2 15 July 2001

5. Changes in association The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN(if applicable) Nature of association N/A 6. Addresses The addresses of persons named in this form are as follows: Name Address JOYDAY L10, 10 Bridge St, Sydney, NSW 2000 Equity & Permanent Investment Capital Limited As above	Name and ACN/ARSN(if applicable) Nature of association N/A 6. Addresses The addresses of persons named in this form are as follows: Name Address JOYDAY L10, 10 Bridge St, Sydney, NSW 2000 Equity & Permanent Investment Capital Limited As above	Name and ACN/ARSN(if applicable) Nature of association N/A 6. Addresses The addresses of persons named in this form are as follows: Name Address JOYDAY L10, 10 Bridge St, Sydney, NSW 2000 Equity & Permanent Investment Capital Limited As above
	Name	Address
	JOYDAY	L10, 10 Bridge St, Sydney, NSW 2000
	Equity & Permanent Investment Capital Limited	As above

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

Signature

Charles Victor Alexander capacity: Director print name

date 4 / 11 / 2016

sign here Electronic approval provided.

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 6 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 person’s votes divided by the total votes in the body corporate or scheme multiplied by 100.

(6) Include details of:

• (a) any relevant agreement or other circumstances because of which the change in relevant interest occurred. 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.

• (7) 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.

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

• (9) Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.