ORDINARY SHARES

Total number of ordinary shares on issue – 207,794,301

DISTRIBUTION OF SHAREHOLDERS

Distribution	Number of Shareholders	Number of Shares
Total	3,380	207,794,301
1 - 1,000	1,167	513,180
1,001 - 5,000	1,172	3,083,740
5,001 - 10,000	415	3,127,784
10,001 - 100,000	546	16,894,052
100,001 - 1,000,000	64	16,841,408
1,000,000 and over	16	167,334,137

TOP 20 SHAREHOLDERS

	Name of Shareholder	Number of Shares Held	% Held
1	HSBC Custody Nominees (Australia) Limited	65,758,898	31.65
2	Citicorp Nominees Pty Limited	26,550,708	12.78
3	Merrill Lynch (Australia) Nominees Pty Limited	23,555,389	11.34
4	J P Morgan Nominees Australia Limited	23,508,252	11.31
5	Amalgamated Dairies Limited	3,296,881	1.59
6	BNP Pariba Nominees Pty Ltd	3,157,306	1.52
7	Mr Carl Eric Holt + Mrs Lorraine Holt < Holt Superfund A/C>	2,876,627	1.38
8	National Nominees Limited	2,841,226	1.37
9	Bernie NO 132 nominees Pty Ltd <594138 A/C>	2,,591,880	1.25
10	Neweconomy Com Au Nominees Pty Ltd < 900 A/C>	2,563,912	1.23
11	BNP Paribas Noms Pty Ltd	2,304,287	1.11
12	Mr Samuel Gonzales Afdal	2,260,000	1.09
13	Zero Nominees Pty Limited	2,100,000	1.01
14	CS Third Nominees Pty Limited	1,472,924	0.71
15	Merrill Lynch (Australia) Nominees Pty Limited	1,439,478	0.69
16	Morgan Stanley Australia Securities (Nominee) Pty Limited	1,056,369	0.51
17	Ozlexa Pty Ltd	1,000,000	0.48
18	Riverflow Pty Ltd	932,732	0.45
19	Piama Pty Ltd	850,000	0.41
20	Henry Berry Corporation Limited	838,000	0.40
Total	Top 20 Holders of Ordinary Fully Paid Shares	170,954,869	82.27
Total	Remaining Holders Balance	36,839,432	17.73

SUBSTANTIAL SHAREHOLDERS*

Name	Date of Notice	Ordinary Shares Held	Ordinary Shares Held
		Number of Shares	Percentage
Ruffer LLP	23-Mar-20	33,477,713	16.11%
Arbiter Partners Capital Management	20-Nov-18	29,851,761	14.36%
Mitsubishi UFJ Financial Group	02-Aug-19	11,087,707	5.34%
Carol Australia Holdings Pty Ltd	06-Aug-19	10,564,969	5.08%

Note *Information based on substantial shareholder notices provided to the Company.

UNQUOTED SECURITIES

The Company has the following unlisted securities on issue:

Options:

• 360,000 unquoted options (comprising of 4 equal tranches of 90,000 options per tranche) to subscribe for ordinary shares exercisable at the following tranche prices of $1.00, $1.25, $1.50 and $1.75 per share respectively, with an expiry date of 24 November 2020
• 1,665,000 unquoted options (comprising of 4 equal tranches of 416,250 options per tranche) to subscribe for ordinary shares exercisable at the following tranche prices of $1.00, $1.25, $1.50 and $1.75 per share respectively, with an expiry date of 08 January 2022

SHARE REGISTRY

Any matters relating to registration details, eg change of address, tax file numbers, etc should be referred to, for:

ASX Registered Shares:
Computershare Investor Services Pty Ltd Level 11 172 St George’s Terrace Perth  6000 Western Australia Tel: +618 9323 2000 Fax: +618 9323 2033