Starpharma : Change in substantial holding

Form 604

Corporations Act 2001

Section 671B

Notice of change of interests of substantial holder

ToCompany Name/Scheme	Starpharma Holdings Limited
ACN/ARSN	078 532 180

1. Details of substantial holder (1)

Name	M&G Plc and its subsidiary companies (please see annexure A)
ACN/ARSN (if applicable)
There was a change in the interests of	14/01/2021
the Substantial holder on
The previous notice was given to the	21/12/2020
company on
The previous notice was dated		21/12/2020

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 or scheme, are as follows:

Class of securities(4)	Previous notice	Present notice
	Person's votes	Voting power (5)	Person's votes	Voting power (5)
NPV Ordinary Shares	37,891,465	9.33%	31,889,780	7.85%

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 are as follows:

	Person whose		Consideration	Class and	Person's
Date of	Nature of	number of
relevant interest	given in relation	votes
change	change(6)	securities
changed	to change(7)	affected
		affected
21/12/2020	M&G Investment Management	Sale	$345,951	NPV Ordinary	228,662
Limited	Shares 228,662
21/12/2020	M&G Investment Management	Sale	$4,214	NPV Ordinary
Limited
		Shares 2,785	2,785
22/12/2020	M&G Investment Management	Sale	$126,707	NPV Ordinary
Limited
		Shares 82,996	82,996
22/12/2020	M&G Investment Management	Sale	$1,543	NPV Ordinary
Limited
		Shares 1,011	1,011
23/12/2020	M&G Investment Management	Sale	$7,976	NPV Ordinary
Limited
		Shares 5,146	5,146
23/12/2020	M&G Investment Management	Sale	$654,938	NPV Ordinary
Limited
		Shares 422,533	422,533

24/12/2020	M&G Investment Management	Sale	$2	NPV Ordinary
Limited
		Shares 1	1
29/12/2020	M&G Investment Management	Sale	$668,386	NPV Ordinary
Limited
		Shares 412,481	412,481
29/12/2020	M&G Investment Management	Sale	$8,139	NPV Ordinary
Limited
		Shares 5,023	5,023
30/12/2020	M&G Investment Management	Sale	$3,969	NPV Ordinary
Limited
		Shares 2,441	2,441
30/12/2020	M&G Investment Management	Sale	$325,860	NPV Ordinary
Limited
		Shares 200,399	200,399
31/12/2020	M&G Investment Management	Sale	$415	NPV Ordinary
Limited
		Shares 257	257
31/12/2020	M&G Investment Management	Sale	$34,164	NPV Ordinary
Limited
		Shares 21,133	21,133
04/01/2021	M&G Investment Management	Sale	$241,667	NPV Ordinary
Limited
		Shares 154,694	154,694
05/01/2021	M&G Investment Management	Sale	$279,315	NPV Ordinary
Limited
		Shares 179,985	179,985
06/01/2021	M&G Investment Management	Sale	$467,844	NPV Ordinary
Limited
		Shares 308,022	308,022
07/01/2021	M&G Investment Management	Sale	$233	NPV Ordinary
Limited
		Shares 150	150
08/01/2021	M&G Investment Management	Sale	$910,724	NPV Ordinary
Limited
		Shares 613,282	613,282
12/01/2021	M&G Investment Management	Sale	$758,244	NPV Ordinary
Limited
		Shares 501,314	501,314
13/01/2021	M&G Investment Management	Sale	$1,259,055	NPV Ordinary
Limited
		Shares 839,370	839,370
14/01/2021	M&G Investment Management	Sale	$3,038,650	NPV Ordinary
Limited
		Shares 2,020,000	2,020,000

4. Present relevant interests

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

Holder of relevant	Registered holder of	Person entitled	to	Nature of relevant	Class and number of	Person's votes
interest	securities	be registered	as	interest (6)	securities
		holder(8)
M&G Investment	HSBC Custody	HSBC Custody	Power to control the	NPV ordinary shares	31,889,780
Management	Nominees (Australia)	Nominees (Australia)	voting and /or disposal of	31,889,780
Limited	Limited	Limited		securities pursuant to its
				position held as
				investment manager in
				accordance with
				investment mandates
M&G Investment	HSBC Custody	HSBC Custody	M&G Investment Funds	NPV ordinary shares	27,552,109
Funds (1)	Nominees (Australia)	Nominees (Australia)	(1) is entitled to beneficial	27,552,109
	Limited	Limited		ownership of the shares
				but in accordance with
				investment mandates,
				does not have the power
				to control the voting and
				or disposal of securities
M&G (Lux)	Hongkong and	Hongkong and	M&G (Lux) Investment	NPV ordinary shares	4,337,671
Investment Funds 1	Shanghai Banking	Shanghai Banking	Funds 1 is entitled to	4,337,671
	Corporation Ltd	Corporation Ltd	beneficial ownership of
				the shares but in
				accordance with
				investment mandates,
				does not have the power
				to control the voting and
				or disposal of securities

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:

M&G Plc and its subsidiary companies:

Name	Address
M&G Investment Management Limited	10	Fenchurch Avenue, London,EC3M 5AG, England
M&G Investment Funds (1)	10	Fenchurch Avenue, London,EC3M 5AG, England
M&G (Lux) Investment Funds 1	16	Boulevard Royal, 2449 Luxembourg
HSBC Custody Nominees (Australia)	HSBC Centre, Level 32, 580 George Street, Sydney, NSW 2000, Australia
Hongkong and Shanghai Banking Corporation	Tower 1, International Tower Level 36, 100 Barangaroo Avenue Sydney, NSW 2000
Ltd	Australia

Signature

print name	Tamara Postoj	capacity Regulatory Reporting Technical Manager
sign here		date
	15/01/2021

DIRECTIONS

1. If there are a number of substantial holders with similar or related relevant interests (e.g. a corporation and its r elated 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 paragraph6 of the form.
2. See the definition of "associate" in section9 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 schememultipliedby100.
6. Include details of:
7. 1. Any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection671B (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
   2. 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 section9 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 whom the relevant interest was acquired.
(8)	If the substantial holder is unable to determine the identity of the person (e.g. if the relevant interest arises because of an option) write
	"unknown".

1. Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.