Skip to main content

AI assistant

Sign in to chat with this filing

The assistant answers questions, extracts KPIs, and summarises risk factors directly from the filing text.

PEET LIMITED Major Shareholding Notification 2022

Dec 18, 2022

65600_rns_2022-12-18_4dae6d66-2253-490e-b2d5-e25b7eb5f944.pdf

Major Shareholding Notification

Open in viewer

Opens in your device viewer

Form 603 Corporations Act 2001

Section 671B

Notice of initial substantial holder

To Company Name/Scheme PEET LIMITED

==> picture [425 x 66] intentionally omitted <==

----- Start of picture text -----


008 665 834
Morgan Stanley and its subsidiaries listed in Annexure A
----- End of picture text -----

ACN/ARSN 008 665 834

1. Details of substantial holder (1)

Name Morgan Stanley and its subsidiaries listed in Annexure A ACN/ARSN (if applicable) Not Applicable

The holder became a substantial holder on December 14, 2022 The holder became aware on December 16, 2022

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 23,765,270 23,765,270 5.01%
Based on 474,818,080 Ordinary
Shares Outstanding

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:

al holder are as follows:
Holder of relevant interest Nature of relevant interest (7) Class and number
of securities
Morgan Stanley & Co.
International plc
Holder of securities subject to an obligation to return under a prime brokerage
agreement.

23,136,044 Ordinary
Shares
Morgan Stanley & Co.
International plc
Shares held or in respect of which the holder may exercise control over
disposal in the ordinary course of sales and trading businesses.
509 Ordinary Shares
Morgan Stanley Australia
Securities Limited
Shares held or in respect of which the holder may exercise control over
disposal in the ordinary course of sales and trading businesses.
628,717 Ordinary
Shares
Each of the entities (as listed in
Annexure A) in the Morgan
Stanley group upstream of the
above entities
Each of the above entities is a body corporate that each upstream entity
controls and therefore has the relevant interests that the above entities
collectively have.
23,765,270 Ordinary
Shares(N.B.: Total of
the above direct
interest)

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
Morgan Stanley & Co. International plc
Morgan Stanley Australia Securities
Limited
Registered holder of securities Person entitled to be
registered as holder (8)
Class and number of
securities
HSBC Custody Nominees (Australia)
Limited
Not Applicable 23,136,553 Ordinary
Shares
Morgan Stanley Australia Securities
(Nominee) Pty Limited
Not Applicable 628,717 Ordinary
Shares

1

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) Consideration (9) Class and number interest
of securities
Cash Non-cash
Morgan Stanley Australia Securities Limited 08/16/2022 129.12 Buy 119 Ordinary Shares
Morgan Stanley Australia Securities Limited 08/16/2022 3.17 Buy 3 Ordinary Shares
Morgan Stanley Australia Securities Limited 08/18/2022 27.13 Buy 25 Ordinary Shares
Morgan Stanley Australia Securities Limited 08/18/2022 397.44 Buy 368 Ordinary Shares
Morgan Stanley Australia Securities Limited 08/19/2022 1.08 Buy 1 Ordinary Shares
Morgan Stanley Australia Securities Limited 08/19/2022 90.61 Buy 82 Ordinary Shares
Morgan Stanley Australia Securities Limited 08/22/2022 7,377.06 Buy 6,646 Ordinary Shares
Morgan Stanley Australia Securities Limited 08/22/2022 1,379.94 Buy 1,266 Ordinary Shares
Morgan Stanley Australia Securities Limited 08/22/2022 287.33 Buy 263 Ordinary Shares
Morgan Stanley Australia Securities Limited 08/22/2022 5,392.88 Buy 4,925 Ordinary Shares
Morgan Stanley Australia Securities Limited 08/23/2022 2,460.13 Buy 2,257 Ordinary Shares
Morgan Stanley Australia Securities Limited 08/23/2022 5,017.81 Buy 4,541 Ordinary Shares
Morgan Stanley Australia Securities Limited 08/23/2022 749.25 Buy 675 Ordinary Shares
Morgan Stanley Australia Securities Limited 08/23/2022 9,325.80 Buy 8,478 Ordinary Shares
Morgan Stanley Australia Securities Limited 08/23/2022 467.57 Buy 427 Ordinary Shares
Morgan Stanley Australia Securities Limited 08/25/2022 282.38 Buy 251 Ordinary Shares
Morgan Stanley Australia Securities Limited 08/25/2022 6.72 Buy 6 Ordinary Shares
Morgan Stanley Australia Securities Limited 08/29/2022 166.10 Buy 151 Ordinary Shares
Morgan Stanley Australia Securities Limited 08/29/2022 30.59 Buy 28 Ordinary Shares
Morgan Stanley Australia Securities Limited 08/29/2022 2.16 Buy 2 Ordinary Shares
Morgan Stanley Australia Securities Limited 08/31/2022 701.12 Buy 626 Ordinary Shares
Morgan Stanley Australia Securities Limited 08/31/2022 51.98 Buy 46 Ordinary Shares
Morgan Stanley Australia Securities Limited 08/31/2022 843.75 Buy 750 Ordinary Shares
Morgan Stanley Australia Securities Limited 08/31/2022 66.67 Buy 59 Ordinary Shares
Morgan Stanley Australia Securities Limited 09/01/2022 50.60 Buy 46 Ordinary Shares
Morgan Stanley Australia Securities Limited 09/02/2022 4.52 Buy 4 Ordinary Shares
Morgan Stanley Australia Securities Limited 09/02/2022 294.30 Buy 270 Ordinary Shares
Morgan Stanley Australia Securities Limited 09/05/2022 1,124.89 Buy 1,018 Ordinary Shares
Morgan Stanley Australia Securities Limited 09/05/2022 5,121.20 Buy 4,593 Ordinary Shares
Morgan Stanley Australia Securities Limited 09/05/2022 5,971.80 Buy 5,380 Ordinary Shares
Morgan Stanley Australia Securities Limited 09/07/2022 892.44 Buy 804 Ordinary Shares
Morgan Stanley Australia Securities Limited 09/07/2022 940.80 Buy 840 Ordinary Shares
Morgan Stanley Australia Securities Limited 09/07/2022 12.21 Buy 11 Ordinary Shares
Morgan Stanley Australia Securities Limited 09/07/2022 47.95 Buy 43 Ordinary Shares
Morgan Stanley Australia Securities Limited 09/12/2022 388.44 Buy 332 Ordinary Shares
Morgan Stanley Australia Securities Limited 09/14/2022 663.60 Buy 560 Ordinary Shares
Morgan Stanley Australia Securities Limited 09/14/2022 3.59 Buy 3 Ordinary Shares
Morgan Stanley Australia Securities Limited 09/14/2022 590.00 Buy 500 Ordinary Shares
Morgan Stanley Australia Securities Limited 09/14/2022 954.81 Buy 799 Ordinary Shares
Morgan Stanley Australia Securities Limited 09/14/2022 710.88 Buy 605 Ordinary Shares

2

Morgan Stanley Australia Securities Limited 09/16/2022 934.56 Buy 792 Ordinary Shares
Morgan Stanley Australia Securities Limited 09/16/2022 1,074.06 Buy 918 Ordinary Shares
Morgan Stanley Australia Securities Limited 09/16/2022 196.89 Buy 169 Ordinary Shares
Morgan Stanley Australia Securities Limited 09/16/2022 46.40 Buy 40 Ordinary Shares
Morgan Stanley Australia Securities Limited 09/16/2022 2,426.38 Buy 2,065 Ordinary Shares
Morgan Stanley Australia Securities Limited 09/19/2022 202.02 Buy 182 Ordinary Shares
Morgan Stanley Australia Securities Limited 09/19/2022 1.11 Buy 1 Ordinary Shares
Morgan Stanley Australia Securities Limited 09/26/2022 1.10 Buy 1 Ordinary Shares
Morgan Stanley Australia Securities Limited 09/26/2022 148.65 Buy 137 Ordinary Shares
Morgan Stanley Australia Securities Limited 10/04/2022 714.56 Buy 638 Ordinary Shares
Morgan Stanley Australia Securities Limited 10/04/2022 3.38 Buy 3 Ordinary Shares
Morgan Stanley Australia Securities Limited 10/04/2022 619.94 Buy 556 Ordinary Shares
Morgan Stanley Australia Securities Limited 10/04/2022 907.39 Buy 803 Ordinary Shares
Morgan Stanley Australia Securities Limited 10/05/2022 18.16 Buy 16 Ordinary Shares
Morgan Stanley Australia Securities Limited 10/07/2022 1,539.57 Buy 1,387 Ordinary Shares
Morgan Stanley Australia Securities Limited 10/21/2022 543.90 Buy 518 Ordinary Shares
Morgan Stanley Australia Securities Limited 10/31/2022 79.20 Buy 72 Ordinary Shares
Morgan Stanley Australia Securities Limited 11/02/2022 192.50 Buy 175 Ordinary Shares
Morgan Stanley Australia Securities Limited 11/10/2022 272,500.00 Buy 250,000 Ordinary Shares
Morgan Stanley & Co. International plc 12/01/2022 N/A Collateral Received 22,839,021 Ordinary Shares
Morgan Stanley Australia Securities Limited 12/02/2022 1.15 Buy 1 Ordinary Shares
Morgan Stanley Australia Securities Limited 12/02/2022 2.31 Buy 2 Ordinary Shares
Morgan Stanley Australia Securities Limited 12/02/2022 11.65 Buy 10 Ordinary Shares
Morgan Stanley Australia Securities Limited 12/02/2022 1.15 Buy 1 Ordinary Shares
Morgan Stanley & Co. International plc 12/02/2022 N/A Collateral Received 3,940,490 Ordinary Shares
Morgan Stanley Australia Securities Limited 12/05/2022 2.21 Buy 2 Ordinary Shares
Morgan Stanley Australia Securities Limited 12/05/2022 565.23 Buy 498 Ordinary Shares
Morgan Stanley Australia Securities Limited 12/05/2022 228.26 Buy 202 Ordinary Shares
Morgan Stanley Australia Securities Limited 12/06/2022 541.50 Buy 475 Ordinary Shares
Morgan Stanley Australia Securities Limited 12/06/2022 542.73 Buy 474 Ordinary Shares
Morgan Stanley Australia Securities Limited 12/06/2022 10.22 Buy 9 Ordinary Shares
Morgan Stanley Australia Securities Limited 12/06/2022 509.63 Buy 451 Ordinary Shares
Morgan Stanley Australia Securities Limited 12/07/2022 2.28 Buy 2 Ordinary Shares
Morgan Stanley Australia Securities Limited 12/07/2022 2.27 Buy 2 Ordinary Shares
Morgan Stanley Australia Securities Limited 12/07/2022 1.13 Buy 1 Ordinary Shares
Morgan Stanley Australia Securities Limited 12/07/2022 210.60 Buy 195 Ordinary Shares
Morgan Stanley Australia Securities Limited 12/07/2022 2.26 Buy 2 Ordinary Shares
Morgan Stanley Australia Securities Limited 12/07/2022 111.00 Buy 100 Ordinary Shares
Morgan Stanley & Co. International plc 12/07/2022 N/A Collateral Received 3,643,478 Ordinary Shares
Morgan Stanley Australia Securities Limited 12/08/2022 80.67 Buy 73 Ordinary Shares
Morgan Stanley Australia Securities Limited 12/09/2022 3,360.50 Buy 3,055 Ordinary Shares
Morgan Stanley Australia Securities Limited 12/12/2022 1.12 Buy 1 Ordinary Shares
Morgan Stanley Australia Securities Limited 12/12/2022 2.22 Buy 2 Ordinary Shares
Morgan Stanley Australia Securities Limited 12/12/2022 2.18 Buy 2 Ordinary Shares
Morgan Stanley Australia Securities Limited 12/12/2022 2.21 Buy 2 Ordinary Shares
Morgan Stanley & Co. International plc 12/12/2022 N/A Collateral Received 26,651,736 Ordinary Shares
Morgan Stanley Australia Securities Limited 12/13/2022 88.97 Buy 82 Ordinary Shares
Morgan Stanley Australia Securities Limited 12/13/2022 1,382.99 Buy 1,263 Ordinary Shares
Morgan Stanley Australia Securities Limited 12/13/2022 155.81 Buy 141 Ordinary Shares
Morgan Stanley Australia Securities Limited 12/13/2022 287.49 Buy 259 Ordinary Shares

3

Morgan Stanley Australia Securities Limited 12/14/2022 34.08 Buy 32 Ordinary Shares
Morgan Stanley Australia Securities Limited 12/14/2022 81.32 Buy 76 Ordinary Shares
Morgan Stanley Australia Securities Limited 12/14/2022 79.94 Buy 73 Ordinary Shares
Morgan Stanley Australia Securities Limited 12/14/2022 553.32 Buy 522 Ordinary Shares
Morgan Stanley Australia Securities Limited 12/14/2022 499.22 Buy 458 Ordinary Shares
Morgan Stanley Australia Securities Limited 12/14/2022 2,715.90 Buy 2,469 Ordinary Shares
Morgan Stanley Australia Securities Limited 12/14/2022 68.80 Buy 64 Ordinary Shares
Morgan Stanley Australia Securities Limited 12/14/2022 1,075.00 Buy 1,000 Ordinary Shares
Morgan Stanley & Co. International plc 12/14/2022 N/A Collateral Received 23,008,263 Ordinary Shares

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
Morgan Stanley & Co. International plc Is a body corporate controlled by each upstream entity as listed in Annexure A
Morgan Stanley Australia Securities Limited Is a body corporate controlled by each upstream entity as listed in Annexure A

7. Addresses

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

Name Address
Morgan Stanley 1585 Broadway, New York, New York, 10036, USA.
Morgan Stanley & Co. International plc Legal & Compliance Department, 25 Cabot Square, Canary Wharf, London, E14 4QA,
UNITED KINGDOM.
Morgan Stanley Australia Securities Limited Level 39, Chifley Tower, 2 Chifley Square, Sydney, 2000, AUSTRALIA.

Signature

print name Wilson Li capacity Vice President
sign here date December 16, 2022

4

Annexure A

List of Morgan Stanley and its subsidiaries that have a relevant interest or deemed to have a relevant interest in the shares or units stated in Section 3.

Name └─┬─ Morgan Stanley └─┬─ Morgan Stanley International Holdings Inc. ├─┬─ Morgan Stanley (Australia) Securities Holdings Pty Limited │ └─── Morgan Stanley Australia Securities Limited └─┬─ Morgan Stanley International Limited └─┬─ Morgan Stanley Investments (UK) └─── Morgan Stanley & Co. International plc

Signature

print name
sign here
Wilson Li
capacity
Vice President
date
December 16, 2022

5

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, moneys 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.

6

GUIDE

Signature

This guide does not form part of the prescribed form and is included by ASIC to assist you in completing and lodging form 603.

This form must be signed by either a director or a secretary of the substantial holder.

Nil

Lodging period

Lodging Fee

Other forms to be completed

==> picture [110 x 8] intentionally omitted <==

----- Start of picture text -----

Additional information
----- End of picture text -----

Nil Nil

  • (a) If additional space is required to complete a question, the information may be included on a separate piece of paper annexed to the form.

  • (b) This notice must be given to a listed company, or the responsible entity for a listed managed investment scheme. A copy of this notice must also be given to each relevant securities exchange.

  • (c) The person must give a copy of this notice:

  • (i) within 2 business days after they become aware of the information; or

  • (ii) by 9.30 am on the next trading day of the relevant securities exchange after they become aware of the information if:

    • (A) a takeover bid is made for voting shares in the company or voting interests in the scheme; and

    • (B) the person becomes aware of the information during the bid period.

Annexures

To make any annexure conform to the regulations, you must

  • 1 use A4 size paper of white or light pastel colour with a margin of at least 10mm on all sides

  • 2 show the corporation name and ACN or ARBN

  • 3 number the pages consecutively

  • 4 print or type in BLOCK letters in dark blue or black ink so that the document is clearly legible when photocopied

  • 5 identify the annexure with a mark such as A, B, C, etc

  • 6 endorse the annexure with the words:

  • This is annexure (mark) of (number) pages referred to in form (form number and title)

  • 7 sign and date the annexure.

The annexure must be signed by the same person(s) who signed the form.

Information in this guide is intended as a guide only. Please consult your accountant or solicitor for further advice.

7

Annexure B:

This is Annexure B referred to in the Form 603: Notice of becoming a substantial holder issued by Morgan Stanley and its subsidiaries. The following is description of the securities lending agreements referenced in the accompanying Form 603.

Schedule Schedule
Type of Agreement International Prime Brokerage Agreement
Parties to agreement Morgan Stanley & Co. International plc for itself and as agent and
trustee for and on behalf of the other Morgan Stanley Companies
and EQUITY TRUSTEES LIMITED AS TRUSTEE FOR L1
CAPITAL LONG SHORT FUND
Transfer Date 20221214;
Holder of Voting Rights Prime broker has the right to vote securities rehypothecated from
the Client.
Are there any restrictions on voting rights? ~~Yes/N~~o
If yes, detailNot applicable
Scheduled Return Date (if any) Open
Does the borrower have the right to return early? Yes~~/No~~
If yes, detailPrime broker may return shares which were rehypothecated from the client at any time.
**Does the lender have the right to recallearly? ** Yes~~/No~~
If yes, detailPrime broker will be required to return to the client shares rehypothecated from the client's account upon a sale of those
shares by the client.
Will the securities be returned on settlement? Yes~~/No~~
If yes, detail any exceptionsUpon an Event of Default, the default market value of all Equivalent Securities to be delivered will be
determined and on the basis of the amounts so established, an account shall be taken of what is due from each party to the other.
The amounts due from one party shall be set off against the amounts due from the other party and only the balance of the account
shall be payable.
Schedule Schedule
Type of Agreement International Prime Brokerage Agreement
Parties to agreement Morgan Stanley & Co. International plc for itself and as agent and
trustee for and on behalf of the other Morgan Stanley Companies
and REGAL FUNDS MANAGEMENT PTY LIMITED AS
TRUSTEE FOR REGAL TACTICAL OPPORTUNITIES FUND
Transfer Date 20221214;
Holder of Voting Rights Prime broker has the right to vote securities rehypothecated from
the Client.
**Are there any restrictions on voting rights? ** ~~Yes/~~No
If yes, detailNot applicable
Scheduled Return Date (if any) Open
Does the borrower have the right to return early? Yes~~/No~~
Ifyes, detailPrime broker mayreturnshareswhich wererehypothecatedfromthe client at any time.
Does the lender have the right to recall early? Yes~~/No~~
If yes, detailPrime broker will be required to return to the client shares rehypothecated from the client's account upon a sale of those
shares by the client.
Will the securities be returned on settlement? Yes~~/No~~
If yes, detail any exceptionsUpon an Event of Default, the default market value of all Equivalent Securities to be delivered will be
determined and on the basis of the amounts so established, an account shall be taken of what is due from each party to the other.
The amounts due from one party shall be set off against the amounts due from the other party and only the balance of the account
shall be payable.
Schedule Schedule
Type of Agreement International Prime Brokerage Agreement
Parties to agreement Morgan Stanley & Co. International plc for itself and as agent and
trustee for and on behalf of the other Morgan Stanley Companies
and INTEGRATED CORE STRATEGIES (ASIA) PTE LTD.
Transfer Date 20221214;
Holder of Voting Rights Prime broker has the right to vote securities rehypothecated from
the Client.
**Are there any restrictions on voting rights? ** ~~Yes/N~~o
If yes, detailNot applicable
Scheduled Return Date (if any) Open
Does the borrower have the right to return early? Yes~~/No~~
Ifyes, detailPrime broker mayreturnshareswhich wererehypothecatedfromthe client at any time.
Does the lender have the right to recall early? Yes~~/No~~
If yes, detailPrime broker will be required to return to the client shares rehypothecated from the client's account upon a sale of those
shares by the client.
Will the securities be returned on settlement? Yes~~/No~~

8

If yes, detail any exceptions Upon an Event of Default, the default market value of all Equivalent Securities to be delivered will be determined and on the basis of the amounts so established, an account shall be taken of what is due from each party to the other. The amounts due from one party shall be set off against the amounts due from the other party and only the balance of the account shall be payable.

Schedule

Schedule Schedule
Type of Agreement International PrimeBrokerageAgreement
Parties to agreement Morgan Stanley & Co. International plc for itself and as agent and
trustee for and on behalf of the other Morgan Stanley Companies
and L1 LONG SHORT FUND LIMITED
Transfer Date 20221214;
Holder of Voting Rights Prime broker has the right to vote securities rehypothecated from
the Client.
Are there any restrictions on voting rights? ~~Yes/N~~o
If yes, detailNot applicable
Scheduled Return Date (if any) Open
Does the borrower have the right to return early? Yes~~/No~~
If yes, detailPrime broker may return shares which were rehypothecated from the client at any time.
Does the lender have the right to recall early? Yes~~/No~~
If yes, detailPrime broker will be required to return to the client shares rehypothecated from the client's account upon a sale of those
shares by the client.
Will the securities be returned on settlement? Yes~~/No~~
If yes, detail any exceptionsUpon an Event of Default, the default market value of all Equivalent Securities to be delivered will be
determined and on the basis of the amounts so established, an account shall be taken of what is due from each party to the other.
The amounts due from one party shall be set off against the amounts due from the other party and only the balance of the account
shallbe payable.

Schedule

Schedule Schedule
Type of Agreement International PrimeBrokerageAgreement
Parties to agreement Morgan Stanley & Co. International plc for itself and as agent and
trustee for and on behalf of the other Morgan Stanley Companies
and EQUITY TRUSTEES LIMITED AS RESPONSIBLE ENTITY
FOR REGAL INVESTMENT FUND
Transfer Date 20221214;
Holder of Voting Rights Prime broker has the right to vote securities rehypothecated from
the Client.
Are there any restrictions on voting rights? ~~Yes/N~~o
Ifyes, detailNot applicable
Scheduled Return Date (if any) Open
**Does the borrower have the right to returnearly? ** Yes~~/No~~
If yes, detailPrime broker may return shares which were rehypothecated from the client at any time.
**Does the lender have the right to recallearly? ** Yes~~/No~~
If yes, detailPrime broker will be required to return to the client shares rehypothecated from the client's account upon a sale of those
shares by the client.
**Willthe securities be returned on settlement? ** Yes~~/No~~
If yes, detail any exceptionsUpon an Event of Default, the default market value of all Equivalent Securities to be delivered will be
determined and on the basis of the amounts so established, an account shall be taken of what is due from each party to the other.
The amounts due from one party shall be set off against the amounts due from the other party and only the balance of the account
shallbe payable.

The above schedules are based on the relevant standard agreements. The entity filing the report will, if requested by the company or responsible entity to whom the prescribed form must be given or ASIC, give a copy of the agreement to the company, responsible entity or ASIC.

Signature

print name Wilson Li capacity Vice President
sign here date December
2022
16,

9