SRG : Change in substantial holding from HHL

604_4

Holder of relevant interest	Registered holder of securities	Personentitled to be registered asholder(8)	Nature of relevant interest (6)	Classand number of securities	Person's votes
SEE ANNEXURE 'B'

Date of change	Person whose relevant interest changed	Nature of change(6)	Consideration givenin relation to change(7)	Classand number of securities affected	Person's votes affected
SEE ANNEXURE 'C	'

Classof securities(4)	Previousnotice		Present notice
	Person's votes	Votingpower (5)	Person's votes	Votingpower (5)
SEE ANNEXURE 'B'	8,762,981	13.92%	9,449,977	15.01%

Form604 CorporationsAct 2001 Section 671B Notice of change of interests of substantial holder
To CompanyName/Scheme ACN/ARSN 1. Details of substantial holder(1) Name ACN/ARSN (if applicable)	SRG Limited
	57 006 413574
	SEE ANNEXURE 'A' ATTACHED TO THIS FORM
There wasa changein the interests of the substantial holder on 25 / 05/ 2016 Thepreviousnoticewasgivento thecompanyon 07 / 12/ 2015 Thepreviousnoticewasdated 07 / 12/ 2015 Previous and present voting power Changes in relevant interests Present relevant interests Thetotal number of votesattachedtoall thevotingsharesin thecompanyor votinginterests in thescheme that thesubstanti al holder or anassociate(2)hada relevant interest (3) inwhenlast required, andwhennow required, togiveasubstantial holdingnoticeto thecompanyor scheme, areasfollows: Particularsof eachchangein, or changein thenatureof, arelevant interest of thesubstantial holder or anassociate invo tingsecuritiesof thecompanyor scheme, sincethe substantial holder waslast requiredtogiveasubstantial holdingnoticeto thecompanyor schemeareasfollows: Particularsof eachrelevant interest of thesubstantial holder invotingsecuritiesafter thechangeareasfollows:

1. Changes in association

   Thepersonswhohavebecomeassociates(2)of, ceasedtobeassociatesof, or havechangedthenatureof their association(9) with, thesubstantial holder in relationtovoting interests in thecompanyor schemeareasfollows:

   Name andACN/ARSN (if applicable)	Nature of association
   SEE ANNEXURE 'A'

2. Addresses

Theaddressesof personsnamedin this formareasfollows:

Name	Address
SEE ANNEXURE 'D'

Signature

print name

Christina Seppelt

capacity

Company Secretary

sign here date

27 / 05

/ 2016

DIRECTIONS

1. If there area number of substantial holders withsimilaror relatedrelevant interests (eg. a corporationandits relatedc orporations, or themanager andtrusteeof an equity trust), thenamescouldbeincludedinanannexure to theform. If therelevant interestsof agroupof personsareess entiallysimilar, theymaybereferredto throughout the formasa specifically namedgroupif themembership of eachgroup, with thenamesandaddressesof members isc learly set out in paragraph6 of the form.

2. See thedefinitionof "associate" in section9 of theCorporationsAct 2001.

3. See thedefinitionof "relevant interest" in sections608and671B(7)of theCorporationsAct 2001.

4. Thevotingsharesof acompanyconstituteoneclassunlessdividedintoseparateclasses.

5. Theperson'svotesdividedbythetotal votesin thebodycorporateor schememultipliedby100.

6. Includedetailsof:

7. anyrelevant agreement orother circumstancesbecauseof which thechangein relevant interest occurred. If subsection671B (4)applies, a copyof any document settingout the termsof anyrelevant agreement, anda statement by thepersongiving full andaccurate details of any contract, scheme or arrangement, must accompanythis form, together witha writtenstatement certifyingthiscontract, schemeor arrangement; and

8. anyqualificationof thepower of apersontoexercise, control theexerciseof, or influencetheexerciseof, thevotingpo wersor disposal of thesecuritiesto whichtherelevant interest relates(indicatingclearly theparticular securitiestowhichthequalificationapplies).

   See thedefinitionof "relevant agreement" in section9 of theCorporationsAct 2001.

9. Detailsof theconsiderationmust includeanyandall benefits,moneyandother, that anypersonfromwhoma relevant intere st wasacquiredhas, ormay, becom`e entitledto receivein relationto that acquisition. Detailsmust beincludedevenif thebenefit isconditional onthehappen ingor not of acontingency. Detailsmust be includedof anybenefit paidonbehalf of thesubstantial holder or itsassociate inrelationto theacquisitions, evenif they arenot paiddirectly to thepersonfromwhom therelevant interest wasacquired.

10. If thesubstantial holder isunable todeterminetheidentityof theperson(eg. if therelevant interest arisesbecauseof anoption)write "unknown".

11. Givedetails, if appropriate, of thepresent associationandanychangein that associationsincethelast substantial holdi ngnotice.

HUNTER HALL INVESTMENT MANAGEMENT LTD (A.C.N. 063 081 612) ANNEXURES TO FORM 604 SRG Limited ANNEXURE A:

Hunter Hall Investment Management Limited (A.C.N. 063 081 612)

Hunter Hall International Limited (A.C.N. 059 300 426)

Hunter Hall Global Value Limited (A.C.N. 107 462 966)

Hampshire Assets & Services Pty Ltd (A.C.N. 059 790 395) Aubigny Investments Pty Limited (A.C.N. 156 613 026), Zeppelin Investments Pty Ltd (A.C.N. 122 550 369) and Peter James Hall

ANNEXURE B:

Holder of Relevant Interest	Person registered and entitled to be Registered as Holder	Nature of relevant Interest	Class and Number of Shares
Hunter Hall Investment Management Ltd	JP Morgan Chase Bank, N.A. as the Custodian of the Hunter Hall Value Growth Trust, Hunter Hall High Conviction Equities Trust, and Hunter Hall Global Value Limited	Hunter Hall Investment Management Limited has the power to control the vote attached to the securities, and the power to exercise control over the disposal of securities as: Responsible Entity for the Hunter Hall Value Growth Trust (2,672,995 ORD), Hunter Hall Australian Value Trust (227,493 ORD), Hunter Hall High Conviction Equities Trust, (1,544,531 ORD) and Investment Manager for Hunter Hall Global Value Limited (5,004,958 ORD)	9,449,977 ORD
Hunter Hall International Limited	As above	Hunter Hall International Ltd has a relevant interest in the said securities, as it wholly owns Hunter Hall Investment Management Limited.	As above
Hampshire Assets & Services Pty Ltd, Aubigny Investments Pty Limited, Zeppelin Investments Pty Ltd and Peter James Hall (Hampshire Associates)	As above	The Hampshire Associates has a relevant interest in the said securities as they hold approximately 44.64% of issued securities in Hunter Hall International Ltd. Hampshire Assets & Services Pty Limited, Aubigny Investments Pty Limited and Zeppelin Investments Pty Ltd are controlled by Peter James Hall.	As above
Hunter Hall Global Value Limited	As above	Hunter Hall Global Value Limited is managed pursuant to an investment management agreement by Hunter Hall Investment Management Ltd. (5,004,958 ORD)	5,004,958 ORD

ANNEXURE C:

Person whose relevant interest changed: Hunter Hall Investment Management Limited Hunter Hall International Limited

Hunter Hall Global Value Limited

Hampshire Assets and Services Pty Ltd, Aubigny Investments Pty Limited, Zeppelin Investments Pty Ltd and Peter James Hall

Peter James Hall

Date of Change	Nature of Change	No. of Shares Affected	Consideration Given in Relation to Change AUD	Cumulative
Opening Balance:	8,762,981
8-Dec-15	Purchase	136,077	95,224.07	8,899,058
10-Dec-15	Purchase	1,942	1,348.42	8,901,000
11-Dec-15	Purchase	7,175	5,054.15	8,908,175
14-Dec-15	Purchase	32,825	23,122.25	8,941,000
15-Dec-15	Purchase	51,856	36,527.89	8,992,856
16-Dec-15	Purchase	69,717	49,109.36	9,062,573
17-Dec-15	Purchase	29,338	20,665.98	9,091,911
18-Dec-15	Purchase	4,000	2,817.64	9,095,911
21-Dec-15	Purchase	8,000	5,635.28	9,103,911
12-Jan-16	Purchase	96,800	68,186.89	9,200,711
13-Jan-16	Purchase	11,500	8,100.72	9,212,211
1-Feb-16	Purchase	10,273	7,236.40	9,222,484
4-May-16	Purchase	31,743	21,880.94	9,254,227
20-May-16	Purchase	7,031	4,846.58	9,261,258
23-May-16	Purchase	50,828	35,036.53	9,312,086
24-May-16	Purchase	781	538.35	9,312,867
25-May-16	Purchase	137,110	94,512.05	9,449,977
Balance held as at 25th May 2016				9,449,977
% held as at 25th May 2016 based on shares on issue 62,959,180				15.01%

ANNEXURE D:

NAME	ADDRESS
Hunter Hall International Limited	Level 2, 56 Pitt Street SYDNEY NSW 2000
Hunter Hall Investment Management Limited	Level 2, 56 Pitt Street SYDNEY NSW 2000
Hunter Hall Global Value Limited	Level 2, 56 Pitt Street SYDNEY NSW 2000
Hampshire Associates	Level 2, 56 Pitt Street SYDNEY NSW 2000

These 2 pages comprise the Annexures A to D referred to in the Form, Notice of Change in Substantial Holder.

Christina Seppelt Company Secretary Dated 27/05/2016