Idp Education : Becoming a substantial holder Opens in a new Window

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23 June 2017 The Manager

Market Announcements Office

ASX Limited

By fax [phone]

Dear Sir/Madam

IOP Education Ltd (ACN 117 676 463)

Notice of initial substantial holder: Form 603

Please find attached a Form 603 (Notice of initial substantial holder) in relation to shares in IDP Education Ltd (ACN 117 676 463), lodged on behalf of Bennelong Funds Management Group Pty Ltd (ABN 95 144 676 344) in accordance with section 671 B of the Corporations Act 2001.

Yours sincerely

Jeffrey Phillips Company Secretary Encl

Bennelong Funds Management Limited

ABN 39111214 085 AFSL296806

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Form 603

Corporations Act 2001

Section 6718

Notice of initial substantial holder

To: ACN:

ASX Code:

IDP Education Ltd

117 676 463

IEL

1. Details of substantial holder

Name: Bennelong Funds Management Group Pty Ltd ACN: 144 676 344

This notice is given by Bennelong Funds Management Group Pty Limited on behalf of itself and its subsidiaries.

The holder became a substantial shareholder on: 22 June 2017

1. 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 had a relevant interest in on the date the substantial holder became a substantial holder are as follows:

   Class of securities	Number of securities	Person's votes	Voting power
   Ordinary	13.229.717	13.229.717	5.2857%

2. 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:

   Holder of relevant interest	Nature of relevant interest	Class and number of securities
   Bennelong Fund Management Group Pty Ltd	Investment Manager	13,229,717

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3. 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	Registered holder of securities	Persons entitled to be registered as holder	Class and number of securities
   Bennelong Funds Management Group Pty Ltd	RBC	7,865,084 Ordinary shares
   Bennelong Funds Management Group Pty Ltd	Citi	1,220,364 Ordinary shares
   Bennelong Funds Management Group Pty Ltd	NAB Asset Servicing	3,249,238 Ordinary shares
   Bennelong Funds Management Group Pty Ltd	BNP	895,031 Ordinary shares

   The custodians in the table above hold shares in IEL as custodian for companies in the Bennelong Funds Management Group that are either:

   • the responsible entity or trustee of pooled investment products such as registered managed investment schemes (Funds); or

   • the investment manager of Portfolios held for a number of institutional investors. The institutional investors are generally superannuation funds regulated under the Superannuation Industry Supervision Act 1993.

The holding of shares in IEL were acquired as part of the wide portfolio of Australian shares and units acquired for the Funds and the Portfolios.

The members of the Bennelong Funds Management Group and the Custodians may hold relevant interest's due to the capacity of these entities to dispose of the shares IEL.

Each investor in a Fund owns an undivided interest in the Fund's assets and no client directly owns any asset of the Fund. The unitholding of each Fund varies from time to time as clients enter and withdraw from the Funds. The various institutional investors with portfolios delegate the management of the portfolios to the members of the Bennelong Funds Management Group.

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