NUFARM LIMITED — Major Shareholding Notification 2015

Aug 17, 2015

Z ELLERSTON CAPITAL

Ellerston Capital Limited
ABN 34 110 397 674 AFSL No. 283 000

Level 11, 179 Elizabeth Street Sydney NSW 2000
Phone +612 9021 7797
Fax +612 9261 0528 www.ellerstoncapital.com

FAX TO: The Manager, Company Announcements, ASX

FAX NO: 1300 135 638

FROM: Ellerston Capital

DATE: 18 August 2015

NO. OF PAGES (including this page): 8

Dear Manager

RE: Nufarm Limited - Form 604

We attach our notice of a change of interest of a substantial holder (Form 604) in respect of Nufarm Limited

We note that the shares reported in this Form are owned by third party accounts under the discretionary investment management of Ellerston Capital Limited.

None of Ellerston Capital Limited, nor any of its shareholders or any of their associates hold a direct interest in any shares disclosed in this Form.

Yours sincerely,

Ellerston Capital Limited

Form 604

Corporations Act 2001
Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme	Nufarm Limited
ACN/ARSN	091 323 312
Details of substantial holder (1) 1. Name		Ellerston Capital Limited (Primary Person), and its associates being those persons listed in annexure B
ACN/ARSN (if applicable) ACN 110 397 674
There was a change in the interests of the
substantial holder on		17/08/15
The previous notice was given to the company on		16/07/15
The previous notice was dated		16/07/15

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		Present notice
----------	Person's votes	Voting power (5)	Person's votes	Voting power (5) ----------
ORD	19.458.954	7.34%	22,327,025	8.42%

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 or scheme 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
See Annexure А

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
Primary Person	BNP Paribas Nominees Pty Limited Nominees Pty Limited	IBNP Paribas	In respect of 2,780,653 shares held by BNP Paribas Nominees Pty Limited as (nominee under s608(1)(b) and (c) by having the power to control voting and disposal.	2.780,653 Ordinary Shares	1.05%
Primary Person	JP Morgan Nominees Australia Limited	JP Morgan Nominees Australia Limited	In respect of 12,693,214 shares held by JP Morgan Nominees Australia Limited las nominee under s608(1)(b) and (c) by having the power to control voting and disposal.	12,693,214 Ordinary 4.78% Shares
Primary Person	National Nominees Limited	National Nominees Limited	In respect of 5,902,420 shares held by National Nominees Limited as nominee under s608(1)(b) and (c) by having the power to control voting and disposal.	5902,420 Ordinary Shares	2.23%
Primary Person	Sandhurst Trustees Ltd	Sandhurst Trustees Ltd	In respect of 339,962 shares held by Sandhurst Trustees Ltd as nominee under $$608(1)(b)$ and $(c)$ by having the power to control voting and disposal.	339,962 Ordinary Shares	0.13%
Primary Person	State Street (Australia) State Street Ltd	(Australia) Ltd	In respect of 215,776 shares held by State Street (Australia) Ltd as nominee (under s608(1)(b) and (c) by having the power to control voting and disposal.	215,776 Ordinary Shares	0.08%
Primary Person	HSBC Custody Nominees (Australia) Limited	HSBC Custody Nominees (Australia) Limited	In respect of 395,000 shares held by HSBC Custody Nominees (Australia) Ltd as nominee under s608(1)(b) and (c) by having the power to control voting and disposal.	395,000 Ordinary Shares	0.15%

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:

-------------------------------------- (if 1.001 Name and unabla).	______ iture of association _____ _________
N/A _________	______ ______

6. Addresses

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

Name	Address
See annexures	The Substantial Shareholder - c/- Level 11, 179 Elizabeth Street, Sydney, NSW, 2000
	The entities listed in Annexure B - c/- Level 11, 179 Elizabeth Street, Sydney, NSW, 2000
INUFARM LIMITED	103-105 Pipe Road, Laverton North, VIC, Australia, 3026

Signature

print name	VULIVAN	capacity	Director
sign here	_____	date	18/08/2015
			-- --------

NUFARM LIMITED 091 323 312

This is Annexure A of 1 page referred to in Form 604 - Notice of change of interests of substantial holder.

Signature

BRIAN OSULIVAN print name capacity Director sign here 18/08/2015 date

Date of change	Person whose relevant interest Nature of change Consideration given in changed	(4)	relation to change (5)	Class (6) and number of securities affected	Person's votes affected
14/08/2015	Primary Person	Buy	\$1,775,225.00	250,000 Ordinary Shares	250,000
12/08/2015	Primary Person	Buy	\$713,650.00	100,000 Ordinary Shares	100,000
10/08/2015	Primary Person	Buy	\$1,803,390.00	255,125 Ordinary Shares	255,125
06/08/2015	Primary Person	Buy	\$4,491,462.20	617,214 Ordinary Shares	617,214
05/08/2015	Primary Person	Buy	\$3,682,500.00	500,000 Ordinary Shares	500,000
04/08/2015	Primary Person	Buy	\$4,423,500.02	600,000 Ordinary Shares	600,000
03/08/2015	Primary Person	Buy	\$5,747,059.91	773,425 Ordinary Shares	773,425
29/07/2015	Primary Person	Buy	\$8,761,392.42	1,163,028 Ordinary Shares	1,163,028
22/07/2015	Primary Person	Sell	\$2,639,016.38	341,575 Ordinary Shares	341,575
21/07/2015	Primary Person	Sell	\$2,001,205.17	258,425 Ordinary Shares	258,425
20/07/2015	Primary Person	Sell	\$2,401,792.08	311,704 Ordinary Shares	311,704
17/07/2015	Primary Person	Sell	\$3,081,582.20	399,612 Ordinary Shares	399,612
16/07/2015	Primary Person	lSeil	\$611,720.24	79,405 Ordinary Shares	79,405

NUFARM LIMITED 091 323 312

This is Annexure B of 3 pages referred to in Form 604 - Notice of change of interests of substantial holder.

Signature

print nam sign her

۱e	OSULLIVAN BRIAN --- .		Director
re		date	18/08/2015

The following entities represent the Passive Substantial Holders. Each is a related body corporate of the Principal Person or a person that controls a related body corporate of the Principal Person and so an associate of t

	AUSTRALIAN
PARTY/ENTITY NAME	COMPANY NO.
Aidem Holdings Pty Limited	161 624 399
Arctic Asia GP general partner of the Arctic Asia
Opportunities Fund, L.P.
Arctic Capital Ltd
Arctic LES (Ireland) Limited
Arctic LES (Luxembourg) Sarl
Australian Financial Times Pty Ltd	003 993 682
Australian Fluorine Chemicals Pty Ltd	000 333 684
Bareage Pty Ltd	060 526 865
Cairnton Pty Ltd	001 735 075
Cairnton Holdings Limited	008 394 134
Captwo Pty Ltd	091 030 929
Casthree Pty Ltd	084 494 619
Castwo Pty Ltd	084 494 520
Catone Pty Ltd	091 030 910
Cavalane Holdings Pty Ltd	080 695 754
CBG Holding Company Pty Limited	163 161 420
Chermon Pty Ltd	123 039 305
Conpress (Hong Kong) Ltd
Conpress (Malaysia) Sdn Bhd
Conpress Cayman, LDC
Conpress Cayman II, LDC
Conpress Cayman III, LDC
Conpress Christchurch Pty Ltd
Conpress Finance BV
Conpress Holdings Pty Ltd	088 047 974
Conpress International Finance
Conpress International (Netherlands Antilles) NV
Conpress International (Netherlands Antilles) II NV
Conpress Mauritius Limited
Conpress Securities Pty Limited	160 602 853
Consolidated Custodians International Ltd
Consolidated Custodians Pty Ltd	008 394 492
Consolidated Gaming Pty Ltd	071 513 409
Consolidated Press Entertainment Pty Ltd	070 506 606
Consolidated Press (Finance) Ltd	001 557 035
Consolidated Press Financial Services Pty Ltd	008 457 869
Consolidated Press (Finance) III Pty Ltd	604 881 030
Consolidated Press Holdings Ltd	008 394 509
Consolidated Press International Limited

	AUSTRALIAN
PARTY/ENTITY NAME	COMPANY NO.
Consolidated Press International Holdings Limited
Consolidated Press Investments Pty Ltd	000 089 118
Consolidated Press Property Pty Ltd	004 160 703
CPH Crown Holdings Pty Limited	603 296 804
Consolidated Press (Finance) II Pty Limited	603 295 834
Consolidated Press (Finance) LLC (USA)
Cairnton Holdings Bahamas Limited (Bahamas)
CP International Investments Ltd
CP International Management Services Limited
CP International Resources Ltd
CP International Securities Ltd
CPH Barbuda Holdings Limited (Bahamas)
CPH Capital Pty Ltd	096 130 899 122 328 652
CPH Direct Investments Pty Ltd	089 304 941
CPH Fashion Pty Ltd CPH Gaming I Pty Limited	603 295 674
	603 295 923
CPH Gaming II Pty Limited	603 296 162
CPH Gaming III Pty Limited CPH Gaming IVA Pty Limited	603 296 537
CPH Gaming IVB Pty Limited	603 296 546
CPH Investments Management Pty Limited	092 008 172
CPH Products Pty Limited	106 918 638
CPH Property Pty Limited	000 031 747
CPH Snow Investments Pty Limited	163 335 724
CPH WA Investment Co Pty Limited	129 011 534
DCE America Inc.
ECS Investment Partners Pty Ltd	166 264 375
Ellerstina Inversiones (Malaysia) Sdn Bhd
Ellerstina Inversiones SA
Ellerston Asian Emerging Opportunities Fund
Ellerston Australian Ex-Top 20 Fund
Ellerston Australian Small Companies Fund
Ellerston Australian Share Fund
Ellerston Australian Market Neutral Fund
Ellerston Capital Limited	110 397 674
Ellerston Capital (Europe) Limited
Ellerston Capital (Hong Kong) Limited
Ellerston Capital (Resources No.1) Limited
Ellerston Global Equity Managers Offshore Fund
Ellerston Global Equity Managers Fund
Ellerston Opportunities Pty Ltd	150 851 666
Ellerston Overlay ASF
Ellerston Pty Ltd	123 039 341
Ellerston Special Opportunities Platform
Engine Room Management Pty Limited	094 993 585
Engine Room Music Pty Ltd	088 993 104
Holiwest Pty Ltd	082 627 898
Hoyts Cinemas America Limited
Hoyts Cinemas Argentina Limited
Hoyts Cinemas Chile Limited
Hoyts Cinemas Germany GmbH
Hoyts Cinemas Germany Operations GmbH Hoyts Cinemas Operations Pty Ltd	006 530 347
Hoyts Cinemas Overseas Holdings Sdn Bhd
Hoyts Cinemas (South America) Holdings Limited
Hoyts Cinemas (Wood Green) Limited
Hoyts Emerging Territories Ltd
Hoyts Overseas Operations Sdn Bhd
HUSH Holding Company Inc
HUSH Holding Subsidiary Inc
HUSH Holdings US Inc
Hyde Park Gardens (Jersey) Limited

	AUSTRALIAN
PARTY/ENTITY NAME	COMPANY NO.
Jadeite Phoenix Pty Limited	164 098 113
Jaslib Pty Ltd	065 059 458
Jasopt Pty Ltd	065 064 164
Jersey Boys LLC
KPE Multiplexthreatre GmbH & Co KG
Lenvoka Pty Limited	003 274 628
Lutrust Pty Limited	088 937 428
Magenta Investments Ltd
Murray Leisure Group Pty Limited	000 090 273
Murray Publishers Pty Limited	000 067 998
Nicarby Pty Ltd	086 715 362
Northeast Cinemas, L.L.C.
Northeast Cinemas (Connecticut) L.L.C.
Northeast Cinemas (Maryland) L.L.C.
Northkom Pty Ltd	082 885 961
Northkom I Pty Limited	604 022 899
Northkom Bahamas Limited (Bahamas)
Nova One Limited
Nova Two Limited
Park Street Partners Cayman II Limited
Park Street SPV 1 (Cayman) Limited Perisher Blue Pty Ltd
Perisher Snow Holidays Pty Limited	061 232 488
	139 766 993
Pretty Girl Fashion Group Pty Ltd	051 283 900
Raystonel Pty Limited RatPac Entertainment II, LLC	123 039 270
RatPac Entertainment, LLC
Ratpac Development LLC Ratpac Documentary Films LLC
Ratpac Entertainment LLC
Ratpac Film Fund LLC
Ratpac Holding LLC
Ratpac Press LLC
Ratpac Productions LLC
Revlake Pty Limited	051 765 818
Ridgegate Pty Limited	058 139 923
Rosgrove Pty Limited	051 649 560
S. One Holding Company Pty Limited	601 640 215
Samenic Limited	066 234 900
Savabow Pty Ltd	084 712 774
SBC Burlington Corp
ScrumPac Pty Ltd	602 375 253
Silthree Pty Ltd	084 494 575
Siltwo Pty Ltd	084 494 495
Silver City Cinemas, Inc.
Silver City Holdings, Inc.
Sonomaco Pty Ltd	169 386 421
Sandpiper Bahamas Limited (Bahamian)
Taringah Pty Ltd	105 268 862
Toranaga Pty Ltd	056 229 728
Toray Pty Ltd	002 348 503
Treysta Pty Ltd	078 467 080
Wakefield Bahamas Limited
Water Diviner LLC
Western Empire Publications Ltd
W.Lane Pty Ltd	003 115 124
Wombat Enterprises Pty Ltd	003 115 124
Wooltech Pty Limited	010 717 441