SMS Management & Technology : Becoming a substantial holder – Spheria Asset Management

Form 603

Corporations Act 2001

Section 6718

Notice of initial substantial holder

To Company Name/Scheme SMS MANAGEMENT & TECHNOLOGY LIMITED

ACN/ARSN 009 558 865

1. Details of substantial holder (1)

   Name SPHERIA ASSET MANAGEMENT PTY LIMITED

   ACN/ARSN (if applicable) 611 081 326

   The holder became a substantial holder on 03I 07/2017

2. 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 (2) had a relevant interest (3) in on the date the substantial holder became a substantial holder are as follows:

   Class of securities (4)	Number of securities	Person's votes (5)	Voting power (6)
   ORDINARY	6,485,109	6,485,109	9.46%

3. 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 (7)	Class and number of securities
   SPHERIA ASSET MANAGEMENT PTY LIMITED	SPHERIA ASSET MANAGEMENT PTY LIMITED IN ITS CAPACITY AS INVESTMENT MANAGER HAS THE POWER TO CONTROL VOTING AND/OR DISPOSAL OF SECURITIES	6,485,109 ORDINARY SHARES

4. 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	Person entitled to be reqistered as holder (8)	Class and number of securities
   See Annexure A

5. Consideration

The consideration paid for each relevant interest referred to in paragraph 3 above, and acquired in the four months prior to the day that the substantial holder became a substantial holder is as follows:

Holder of relevant interest	Date of acquisition	Consideration (9)		Class and number of securities
Cash	Non-cash

SPHERIA ASSET MANAGEMENT PTY LIMITED

VARIOUS

VARIOUS

VARIOUS

1. Associates

   The reasons the persons named in paragraph 3 above are associates of the substantial holder are as follows:

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

2. Addresses

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

Name	Address
SPHERIA ASSET MANAGEMENT PTY LIMITED	LEVEL 35, 60 MARGARET STREET, SYDNEY NSW 2000

Signature

print name MATTHEW BOOKER capacity COMPANY DIRECTOR

sign here

da 04/07/2017

DIRECTIONS

1. If there are a number of substantial holders 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. 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 7 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 total number of votes attached to all the voting shares in the company or voting interests in the scheme (if any) that the person or an associate has a relevant interest in.

6. The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.

7. Include details of:

8. any relevant agreement or other circumstances by which the relevant interest was acquired. If 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

9. any qualification of the power of a person to exercise, control the exercise of, or influence 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.

10. If the substantial holder is unable to determine the identity of the person ( eg. if the relevant interest arises because of an option) write "unknown".

11. 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 whom the relevant interest was acquired.

Holder of Relevant Interest	Registered Holder of Securities	Person entitled to be registered as holder	Class and Number of Securities affected
Spheria Asset Management Pty Limited	RBCInvestor Services Trust	Spheria Asset Manaqement Limited	2,222,640
Spheria Asset Management Pty Limited	Citibank NA	Spheria Asset Management Limited	946,951
Spheria Asset Management Pty Limited	JPMorgan Chase Bank, N.A. (Sydney Branch)	Spheria Asset Management Limited	3,315,518

SMS Management & Technology Limited Annexure A

This is Annexure "A" of 1 page as mentioned in form 603 Notice of initial substantial holder

1 U

Matthew Booker

Company Director Date: 04/07/2017