Metal Bank : Change of Director’s Interest Notice

Change of Director's Interest Appendix 3Y Change of Director's Interest Notice

Appendix 3Y Change of Director's Interest Notice

Rule 3.19A.2

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/09/01 Amended 01/01/11

Name of entity Metal Bank Limited

ABN 127 297 170

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Anthony William Schreck
Date of last notice	6 July 2015

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Direct or indirect interest	Direct
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	n/a
Date of change	11 April 2016
No. of securities held prior to change	12,063,492 ordinary shares comprising10,952,381 ordinary shares held directly and 1,111,111 ordinary shares held indirectly 9,000,000 unlisted options exercisable at 3 cents per share expiry date 30 November 2018 6,355,932 Performance Rights
Class	Ordinary shares
Number acquired	1,271,186 ordinary shares
Number disposed	5,084,746 Performance Rights which expired on 9 April 2016
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Deemed consideration for ordinary shares of 0.5 cents per share

+ See chapter 19 for defined terms.

01/01/2011 Appendix 3Y Page 1

Appendix 3Y Change of Director's Interest Notice

No. of securities held after change	13,334,678 ordinary shares comprising 12,223,567 ordinary shares held directly and 1,111,111 ordinary shares held indirectly 9,000,000 unlisted options exercisable at 3 cents per share expiry date 30 November 2018
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Issue of shares upon vesting of performance rights as approved at a General Meeting of the Company held on 25 June 2015 Expiry of 5,084,746 performance rights without vesting

Part 2 - Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract	n/a
Nature of interest
Name of registered holder (if issued securities)
Date of change
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed
Interest acquired
Interest disposed
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation
Interest after change

Part 3 - +Closed period

Were the interests in the securities or contracts detailed above traded during a +closed period where prior written clearance was required?	no
If so, was prior written clearance provided to allow the trade to proceed during this period?	n/a
If prior written clearance was provided, on what date was this provided?	n/a

+ See chapter 19 for defined terms.

Appendix 3Y Page 2 01/01/2011