PNX Metals : Change in substantial holding

604 page 1/2 15 July 2001

		Form 604
		Corporations Act 2001
		Section 671B
	Notice of change of interests of substantial holder
To:Company Name/Scheme		PNX Metals LTD
ACN/ARSN		ACN 127 446 271
1. Details of substantial holder (1)
Name		DELPHI Unternehmensberatung Aktiengesellschaft, Heidelberg, Germany
		Wilhelm K.T. Zours, Heidelberg, Germany
ACN/ARSN (if applicable)

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

The previous notice was given to the company The previous notice was dated

16	/	02	/	22
29	/	01	/	21
29	/	01	/	21

2. Previous and present 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 (2) had a relevant

interest (3) in when last required, and when now required, to give a substantial holding notice to the company of scheme, are as follows:

Class of securities (4)	Previous notice		Present notice
	Person's votes	Voting power (5)	Person's votes	Voting power (5)
Fully paid ordinary shares	1,620,362,034	44.37 %	2,025,452,543	45.58 %

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 securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme as follows:

Date of change	Person whose	Nature of	Consideration	Class and number of	Person's votes
	relevant interest	change (6)	given in relation to	securities affected	affected
	change (7)
	changed
16/02/2022	DELPHI	Entitlement	$0.0050 per share	ordinary shares,	405,090,509
	405,090,509
	Unternehmensberatung
	Aktiengesellschaft

4. Present relevant interest

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

Holder of relevant	Registered	Person entitled to be	Nature of relevant interest	Class and number	Person's votes
interest	holder of	registered as holder (8)	(6)	of securities
	securities
DELPHI	DELPHI	-	Registered Holder	ordinary shares,	2,025,452,543
Unternehmensberatung	Unternehmensberatung			2,025,452,543
Aktiengesellschaft	Aktiengesellschaft
Wilhelm K.T. Zours	DELPHI	-	Major Shareholder of	ordinary shares,	2,025,452,543
	Unternehmensberatung		DELPHI	2,025,452,543
	Aktiengesellschaft		Unternehmensberatung
			Aktiengesellschaft

5. Changes in association

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

Name and ACN/ARSN (if applicable)	Nature of association

6. Addresses

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

	Name	Address
	DELPHI Unternehmensberatung	Ziegelhaeuser Landstrasse 1, 69120 Heidelberg, Germany
	Aktiengesellschaft
	Wilhelm K.T. Zours	69120 Heidelberg, Germany

Signature

print name Alexander Link	capacity
sign here		date	16	/	02	/	22

DIRECTIONS

1. If there are a number of substantial holders with similar or related relevant issues (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. If 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 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 671B(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 corporate or scheme multiplied by 100.
6. Include details of:
7. 1. any relevant agreement or other circumstances by which the relevant interest was acquired. If subsection 671B(4) applies, a copy of any document setting the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must
      this form, together with a written statement certifying this contract, scheme or arrangement; and
   2. any qualification of the power of a person to exercise, control the exercise of, the voting powers or disposal of 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.

1. Details of the consideration must include any and all 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 the relevant interest was acquired.
2. If the substantial holder in unable to determine the identity of the person (eg. If the relevant interest arises because of an option) write "unknown".
3. Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.