SIMS LIMITED — Major Shareholding Notification 2016

Nov 20, 2016

Form 604

Corporations Act 20111 Section 6718

Notice of change of interests of substantia! holder

ACN/ARSN

1. Details of substantial holder(l)

Name	PARADICE INVESTMENT MANAGEMENT Pry LTD
ACN/ARSN (if applicable)	148 619
There was a change in the interests of the
sLrbstantial holder on	17 /11 163-0-08-16

26 fr8 116

The previous notice was given t0 the company on The previous notice was dated

2. Previous and present voting power

in when last required, and when now required, t0 give a substantial holdlng n0tice to the c0mpany or scheme, are as follows:

Class of securities (4)	Previous notice		Present notlce
	Person's votes	Votinq power (5)	Person's vote:	Votinq power (5)
FPO	13,271,991	6.714o/o	10,891,567	5.522Yo

3. Changes in relevant interests

Particularsofeachchangein, orchangeinthenature0f,arelevantinterest0fthesubstantialholderoranassociateinvotingsecurities0fthecompany0rscheme,sincethe substantial holder was last required to give a substantial holding notice t0 the company or scheme are as foll0ws:

Date ofchange	Person whoserelevant interestchanged	Nature ofchange (6)	Considerationgiven in relationto change (7)	Class andnumber ofsecuritiesaffected	Person's votesaffected
	SEE ANNEXURE

4. Presenl relevant interests

Particulars of each relevant interest 0fthe substantial h0lder in voting securities afterthe change are as follows:

Holder ofrelevantinterest	Reg isteredholdcr ofsecurities	Person entitledto be registeredas holder {8)	Nature ofrelevantinterest (6)	Class andnumber ofsecuritiesFPO	Person's votes
	SEE ANNEXURE 1

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

6. Addresses

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

Name	Address
	Paradice Investment Mgt P/L L12, 139 Macquarie Street, SYDNEY NSW 2000

Signature

print name	PETER MANLEY			Capacity COMPANY SECRETARY
sign here	" ven	date	21/11	,16

DIRECTIONS

• 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 $(1)$ 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
• See the definition of "associate" in section 9 of the Corporations Act 2001. $(2)$
• See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001. $(3)$
• The voting shares of a company constitute one class unless divided into separate classes. $(4)$

Der

• The person's votes divided by the total votes in the body corporate or scheme multiplied by 100. $(5)$
• Include details of: $(6)$
  • any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any $(a)$ 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
  • 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 $(b)$ 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.

• 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, becom'e $(7)$ 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.
• 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". $(8)$
• Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice. $(9)$

NOTICE OF CHANGE OF INTERESTS OF SUBSTANTIAL SHAREHOLDER

ANNEXURE 1

STOCK: SIMS METAL MANAGEMENT LIMITED

1. CHANGES IN RELEVANT INTERESTS

			CONSIDERATION	CLASS & NO.	PERSON'S
DATE OF CHANGE	WHOSE RELEVANT INTERESTCHANGEDPERSON	NATURE OF CHANGE	GIVEN IN RELATIONTO CHANGE $	OF SECURITIESAFFECTED	AFFECTEDVOTES
9-Aug-16	Paradice Investement Management Pty Ltd	Share Purchase	$157,547.66	15,597	15,597
80-Aug-16	Paradice Investement Management Pty Ltd	Share Purchase	$355,280.90	35,379	35,379
$31 - Aug - 16$	Paradice Investement Management Pty Ltd	Share Purchase	$2,997,149.58	300,000	300,000
$31 - Aug - 16$	Paradice Investement Management Pty Ltd	Share Sale	$61,874.16	6,215	6,215
$-5ep-16$	Paradice Investement Management Pty Ltd	Share Purchase	$4,840,664.11	500,000	500,000
$-5ep-16$	Paradice Investement Management Pty Ltd	Share Purchase	$698,530.29	73,936	73,936
$6 -$ Sep-16	Pty LtdParadice Investement Management	Share Purchase	$1,046,568.09	10,000	110,000
$7 -$ Sep-16	Paradice Investement Management Pty Ltd	Share Purchase	$2,772,198.11	300,000	300,000
$-$ Sep-16	Paradice Investement Management Pty Ltd	Share Purchase	$326,059.86	34,286	34,286
$-$ Sep-16	Paradice Investement Management Pty Ltd	Share Sale	$2,451,578.20	259,968	259,968
$5-$ Sep-16	Paradice Investement Management Pty Ltd	Share Sale	$1,458.98	159	159
$6 -$ Sep-16	Paradice Investement Management Pty Ltd	Share Sale	$3,477.69	379	379
$0-$ Sep-16	Paradice Investement Management Pty Ltd	Share Purchase	$7,846.18	869	869
$6 -$ Sep-16	Paradice Investement Management Pty Ltd	Share Purchase	$141,082.98	15,131	15,131
$0 -$ Sep-16	Paradice Investement Management Pty Ltd	Share Sale	$14,371.46	1,546	1,546
$-0ct-16$	Paradice Investement Management Pty Ltd	PurchaseShare F	$1,285.76	136	136
$-0ct-16$	Paradice Investement Management Pty Ltd	PurchaseShare F	$458,083.48	50,091	50,091
$2 - Oct - 16$	Paradice Investement Management Pty Ltd	PurchaseShare I	$8,592.23	905	905
$3 - Oct - 16$	Paradice Investement Management Pty Ltd	PurchaseShare I	$440.88	46	46
$4-0ct-16$	Paradice Investement Management Pty Ltd	PurchaseShare I	$1,506.40	158	158
19-Oct-16	Paradice Investement Management Pty Ltd	SaleShare:	$203,578.74	20,932	20,932
$0 - Oct - 16$	Paradice Investement Management Pty Ltd	PurchaseShare	$230.98	24
$1 - Oct - 16$	Paradice Investement Management Pty Ltd	SaleShare 9	$1,724,448.12	175,055	175,055
$5-0ct-16$	Paradice Investement Management Pty Ltd	SaleShare:	$464,286.55	46,190	46,190
$6 - Oct - 16$	Paradice Investement Management Pty Ltd	PurchaseShare	$2,143.88	127	127
$6 - Oct - 16$	Paradice Investement Management Pty Ltd	SaleShare:	$214,120.43	21,226	21,226
$7-0ct-16$	Paradice Investement Management Pty Ltd	PurchaseShare I	$924.43	94	94
$7-0ct-16$	Paradice Investement Management Pty Ltd	SaleShare ?	$520,833.45	52,732	52,732
$8 - Oct - 16$	Paradice Investement Management Pty Ltd	PurchaseShare I	$199.49	20	20
$8 - Oct - 16$	Paradice Investement Management Pty Ltd	Share Sale	$647,050.41	65,000	65,000
$31 - Oct - 16$	Paradice Investement Management Pty Ltd	Share Purchase	$20,741.40	2,070	2,070
$1-0ct-16$	Paradice Investement Management Pty Ltd	Share Sale	$541,703.03	53,879	53,879

$\overline{\phantom{a}}$

$1-Nov-16$	Paradice Investement Management Pty Ltd	Share Sale	$170,331.97	16,962	16,962
4-Nov-16	Paradice Investement Management Pty Ltd	Share Purchase	$870,312.99	85,000	85,000
8-Nov-16	Paradice Investement Management Pty Ltd	Share Purchase	$1,800.23	166	166
8-Nov-16	Paradice Investement Management Pty Ltd	Share Sale	$3,463,531.03	318,614	318,614
		Share Purchase	$3,666,569.04	328,801	328,801
9-Nov-169-Nov-16	Paradice Investement Management Pty LtdParadice Investement Management Pty Ltd	Share Sale	10,527,983.32	969,139	969,139
10-Nov-16	Paradice Investement Management Pty Ltd	Share Sale	$4,268,557.49	849,983	349,983
11-Nov-16		Share Purchase	$2,734,615.55	!15,011	215,011
11-Nov-16	Paradice Investement Management Pty LtdParadice Investement Management Pty Ltd	Share Sale	$2,405,380.27	90,000	90,000
	Paradice Investement Management Pty Ltd	Share Sale	$433,422.56	33,626	33,626
14-Nov-1615-Nov-16	Paradice Investement Management Pty Ltd	Share Sale	$9,499,839.67	751,116	751,116
16-Nov-16	Paradice Investement Management Pty Ltd	Share Sale	$8,086,239.52	650,000	650,000
17-Nov-16	Paradice Investement Management Pty Ltd	Share Purchase	$1,600.69	133	133
$17 - Nov - 16$	Paradice Investement Management Pty Ltd	Share Sale	$5,633,889.72	465,683	465,683
		Total Purchases	21,111,975.19	2,067,980	2,067,980
		Total Sales	51,337,956.77	4,448,404	4,448,404
		Total	$30,225,981.58	2,380,424	$-2,380,424$

ł,

4. PRESENT RELEVANT INTERESTS

$\overline{\phantom{a}}$

Holder of Relevant Interest	Registered Holder of Securities	Person entitled to be registered as Nature of Relevant Class & No ofholder	Interest	Securities	Persons Votes
Paradice Investment Management Pty Ltd	National Nominees Ltd	National Nominees Ltd	nvestment Manager	2,508,779	2,508,779
Paradice Investment Management Pty Ltd	IP Morgan Nominees Aust Ltd	JP Morgan Nominees Aust Ltd	nvestment Manager	2,348,979	2,348,979
Paradice Investment Management Pty Ltd	HSBC Nominees Aust Ltd	HSBC Nominees Aust Ltd	nvestment Manager	4,493,301	4,493,301
Paradice Investment Management Pty Ltd	Citicorp Nominees Ltd	Citicorp Nominees Ltd	nvestment Manager	1,540,508	1,540,508
			TOTAL	10,891,567	10,891,567

This is annexure 1 of 1 pages referred to in form 604 Notice of change of Interests of Substantial Shareholder

$\bullet$ WILLIAMEY aer

$\frac{21/11/2016}{\mathsf{DATE}}$

COMPANY SECRETARY