METRO MINING LIMITED — Major Shareholding Notification 2016

Jul 11, 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 Company Name/Scheme

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

1. Details of substantial holder(1)

Name JOYDAY PTY LTD <VEXILLUM SUPER FUND A/C> (“JOYDAY”) ACN/ARSN (if applicable) 103 614 786

There was a change in the interests of the substantial holder on 6 / 7 / 2016 The previous notice was given to the company on 2 / 6 / 2016 The previous notice was dated 1 / 6 / 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	54,728,182	13.0%	47,728,182	11.3%

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 ofchange	Person whoserelevant interestchanged	Nature of change(6)	Considerationgiven in relation tochange (7)	Class andnumber ofsecuritiesaffected	Person’s votesaffected
15 / 4 / 2016	JOYDAY	Acceptance ofMetro offer toacquire shares inGulf Alumina Ltd	12,748,800 sharesin Gulf Alumina Ltd	42,071,040	42,071,040
15 / 4 / 2016	Equity &PermanentInvestmentCapital Limited	Acceptance ofMetro offer toacquire shares inGulf AluminaLtd	3,500,000 shares inGulf Alumina Ltd	11,550,000	11,550,000
6 / 7 / 2016	JOYDAY	On market sale of7,000,000 shares	$490,000	7,000,000ordinaryshares	7,000,000

4. Present relevant interests

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

Holder ofrelevantinterest	Registeredholder ofsecurities	Person entitled to beregistered as holder (8)	Nature of relevantinterest (6)	Class andnumber ofsecurities	Person’svotes
JOYDAY	JOYDAY	JOYDAY	Legal and beneficialowner	35,071,040	8.3%
JOYDAY PTYLIMITED	JOYDAY PTYLIMITED	JOYDAY PTY LIMITED	Legal and beneficialowner	1,107,142	0.3%
Equity &PermanentInvestmentCapital Limited	Equity &PermanentInvestmentCapital Limited	Equity & PermanentInvestment CapitalLimited	Legal and beneficialowner	11,550,000	2.7%

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
	JOYDAY PTY LIMITED	As above
	Equity & Permanent Investment Capital	As above
	Limited

Signature

Charles Victor Alexander capacity: Director print name

sign here date 12 / 7 / 2016 Electronic approval provided (Director travelling).

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.