Perpetual cuts substantial holding in Metcash

Perpetual Limited and its related bodies corporate, ACN 000 431 827, announced a change in their substantial holding in Metcash Limited, ACN 112 073 480. The change occurred on September 16, 2025. Their voting power in Metcash Limited has decreased from 6.971% (76,526,096 ordinary votes) to 5.853% (64,325,993 ordinary votes).

The reduction in voting power is a result of numerous sale transactions executed by Perpetual's entities, including Pendal Fund Services Limited (PFSL) and Pendal Institutional Limited (PIL). These sales involved various tranches of ordinary shares. For example, PFSL conducted sales up to AUD 2,169,860.42 and PIL executed sales up to AUD 2,633,591.55, primarily through HSBC Custody Nominees and J.P. Morgan Nominees Australia.

The announcement details both purchase and sale transactions, indicating a strategic adjustment in Perpetual's investment in Metcash. Notable purchase transactions include PIL acquiring AUD 10,286,557.20 through BNP Paribas Securities Services and PFSL acquiring AUD 987,281.54 through HSBC Custody Nominees. However, the cumulative effect of the reported transactions led to an overall decrease in their substantial holding.