Highlands Pacific Limited : Change in Substantial Holding

Form 604

Corporations Act 2001

Section 6718

Notice of change of interests of substantial holder

IQ Company Name l Scheme HIGHLANDS PACIFIC TD

ACN/ARSN

1. Details of substantial holder {1)

Name BAKER STEEL CAPITAL MANAGER$ LLP (CLIENTS OF ANO ASSOCIATED OR CONNECTED PARTIES)

ACN/ARSN (if applicable)

There was a change in the interests of the Slibstantial holder on

The previous notice was given to the company on

The previous notice was dated

07-Jan-13

12-Sep-12

12-Sep-12

2. Previous and present voting power

The total number of votes attached lo ali the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant intere si(3) in when las! required, and when now required, lo give a substantial holding notice lo the company or scheme, are as follows:

--

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 secu1·ities of the company or scheme, since the substantial holder was las!required to give a substantial holding notice to the company or scheme are as follows:

Person whose rele

;------ - -

Person's votes affected

REFERTO SCHEDULE 1 ATTACHED

--·· -·-·-

----

4. Present relevant intcrests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

-

5. Changes in association

The persons who have become associates (2) of. ceased to be associates of, or have changed the nature of their associatoi n (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACNIARSN (if applicable)	Nature of association
n/a

6. Addresses

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

Name	Address
tor ali entities listed...	c/o 8aker Steel Capitai Managers LLP
	86 Jermyn Street. London,SW1Y 6JD

Signature

print name

T:..i:.:...::::O...:I.:::S:.:;na:::.r d:.:.i

c,a:.tp::::a.::::ci"'ty

H!..!::::e::::a.:::d...:o:.:f_T:..:r.:::a.:::d.:.:.in:..gz...:::.na:..:.d::.....::O::. P:.:e:.:r.:::ac:.:li.:::o.:..:n:::.s

si gn here date 07-Jan-13

DIRECTIONS

(1) lf there are a number of substantialholders 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. lf 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.

(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 6718(7) of the Corporations Act 2001. (4) The voting shares of a company constitute one class unless divided into separate classes.

(5) The person's votes divided by the total votes in the body corporale or scheme multiplied by 100. (6) Include details of:
(a) any relevant agreement or other circumstances because of which the change in relevant interest occurred. lf subsection 6718(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,contro! the exercise of,or influence the exercise of.the voting powers or disposalof 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.

(7) Details of the consideration must include any and ali benefits.money 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.

(8) lf 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) Give details, if appropriate. of the present association and any change in that association since the last substantial holding notice.

Date of Person w11ose relevant interest changed Nature of change {6) Consideration given in Class and number of Person's votes affected

Change relation to change {7) securities affected

r---

07-Jan-13 CF Ruffer Baker Steel Gold Fund market ourcl1ase -AUD 52,451 ordina1y 352,676

04-Jan-13 Genus Oynamic Gold Fund		market purchase		-AUD 54,247		ordinary	365,000
19-Dec-12 RIT Ca )Ìal Partners PLC		market ourchase		-AUD 4,670		ordinarv	32,160
18-Dec-12 CF Ruffer Baker Steel Gold Fund		market QUrchase		-AUD 38,163		ordinarv	254,042
17-Dec-12 CF Ruffer Gaker Steel Gold Fund		market purchase		-AUD 21,403		ordina1y	139,136
14-Dec-12 CF Ruffer Baker Steel Gold Fund		market ourchase		-AUD 28,214		ordinarv	181,986
13-Dec-12 CF Ruffer Baker Steel Gold Fund		market purchase		-AUD 26,289		ordinary	175,000
07-Dec-12 CF H.uffer Baker Steel Gold Fund		market purchase		-AUD 17,294		ordinarv	115,120
06-Dec-12 Genus Dvnamic Gold Fund		market ourchase		-AUD 7,762		ordinaIV	50,000
05-Dec-12 Genus Oynamic Gold Fund		market purchase		-AUD 36,038		ordinary	234,880
04-Dec-12 CF Ruffer Baker Steel Gold Fund		market ourchase		-AUD 28,596		ordinarv	186,986
03-Dec-12 CF Ruffer Baker Steel Gold Fund		market QUrchase		-AUD 62,045		ordinarv	413,014
30-Nov-12 CF Ruffer Baker Steel Gold Fund		market purchase		-AUD 37.553		ordina1y	245,234
29-Nov-12 CF Ruffer Baker Steel Gold Fund		market ourchase		-AUD 40,894		ordinarv	264,635
28-Nov-12 Baker Steel Alpl1a Gold		market purchase		-AUD 17.472		ordinary	115,000
27-Nov-12 RIT Capitai Pa11ners PLC		market purchase		-AUD 14.751		ordina1y	95,022
26-Nov-12 Genus Dxnamic Gold Fund		market ourchase		-AUD 32,416		ordinarv	209,500
23-Nov-12 RIT Capitai Partners PLC		market purchase		-AUD 3,129		ordinary	20,500
22-Nov-12 Baker Steel Alpha Gold		market pu1·c11ase		-AUD 45,616		ordinarv	295,000
21-Nov-12 CF Ruffer Baker Steel Gold Fund		market ow·chase		-AUD 70,991		_ordina1y	474,461
20-Nov-12 CF Ruffer Baker Steel Gold Fund		rnarket purchase		-AUD 39,350		ordinary	280,648
19-Nov-12 CF Ruffer Baker Steel Gold Fund		market ourchase		-AUD 57.510		ordinarv	408,708
16-Nov-12 CF Huffer Baker Steel Gold Fund		markt (2urcl1ase		-AUD 26.821		ordinarv	191,292
15-Nov-12 CF Ruffer Baker Steel Gold Fund		market purchase		-AUD 38,923		ordinary	277,605
14-Nov-12 CF Ruffer Baker Steel Gold Fund		market ourchase		-AUD 47,790		ordinarv	340,847
13-Nov-12 CF Ruffer Baker Seel Gold Fund		market purchase		-AUD 42,981		ordinary	306,548
1_2-NO't.._"!J CF Ruffer Baker Steel Gold Fund		market purchase		-AUD 66.600		ordinarv	475,000
09-Nov-12 CF Ruffer Baker Steel Gold Fund 08-Nov-12 CF Ruffer Baker Steel Gold Fund		market ourchase market purchase		-AUD 33,759 -AUD 10.516		ordinarv ordinary	239,065 - 75,000
07-Nov-12 CF Ruffer Baker Steel Gold Fund		market ourchase		-AUD 24,537		ordinarv	175,000
06-Nov-1 CF RlUfer Baker Steel Gold l;und		. _mark f2l1rcl1ase		-AUD 17,526		ordinarv	125,000
02-Nov-12 CF Ruffer Baker Steel Gold Fund		market purc!1ase		-AUD 7.011		ordinary	50,000
01-Nov-12 Baker Steel Aloha Gold		market ourchase		-AUD 16.825		ordinarv	120,000
31-0ct-12 Baker Steel Alpha Gold		market purct1ase		-AUD 87,609		ordinary	624,843

30-0ct-1 .Q_ker Stee 1a Gold - market purct1ase -AUD 30,999 ordin?IY.. 22"1 ,092

29-0ct-12 CF Ruffer Baker Steel Gold Fund market ourchase -AUD 51,878 ordinarv 370,000