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CHALLENGER LIMITED Director's Dealing 2008

Sep 2, 2008

64641_rns_2008-09-02_e9b5f67a-b4df-476a-8a40-fe546ad5ff4a.pdf

Director's Dealing

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Appendix 3Z Final Director’s Interest Notice

Rule 3.19A.3

Appendix 3Z

Final Director’s Interest Notice

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 30/9/2001.

Name of entity Challenger Financial Services Group Limited
ABN 85 106 842 371

We (the entity) give ASX the following information under listing rule 3.19A.3 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of director Michael Tilley
Date of last notice 19/06/2008
Date that director ceased to be director 31/08/2008

Part 1 – Director’s relevant interests in securities of which the director is the registered holder

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.

Number & class of securities

4,050,000 Ordinary shares

(including 4,000,000 shares issued under the CEO Long Term Incentive Plan as approved by shareholders in 2004 and 2005 which are subject to vesting in accordance with plan rules.)

  • See chapter 19 for defined terms.

Appendix 3Z Page 1

11/3/2002

Appendix 3Z Final Director’s Interest Notice

Part 2 – Director’s relevant interests in securities of which the director is not the registered holder

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.

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

Name of holder & nature of interest
Note: Provide details of the circumstances giving rise to
the relevant interest
Related parties:
Cynthia Tilley
Oxleigh Pty Ltd
Tennessee Investments Pty Ltd
ATF Tennessee Investments
Deutsche Bank AG
Number & class of securities
22,999 ordinary shares
620,000 ordinary shares
380,000 ordinary shares
6,000,000 ordinary shares (refer “Protected
Loan and Put Option Agreement” in Part 3
below)

Part 3 – Director’s interests in contracts

Detail of contract Performance rights under the Challenger
Performance Plan
Nature of interest Each performance right will be satisfied by
the transfer of one ordinary Challenger
share on vestingsubject to Plan Rules.
Name of registered holder
(if issued securities)
N/A
No. and class of securities to
which interest relates
269,527 performance rights
Detail of contract Protected Loan and Put Option Agreements
with Deutsche Bank AG dated 12 December
2006 and 5 September 2007
Nature of interest Right to deliver shares under a put option
on the maturity date of the loan used to
acquire shares.
Right to redelivery of securities delivered
pursuant to securities lending arrangement
with Deutsche Bank AG under Protected
Loan and Put Option Agreement.
Name of registered holder
(if issued securities)
Deutsche Bank AG (current registered
holder)
No. and class of securities to
which interest relates
6,000,000 ordinary shares (being the same
shares as referred to in Part 2 above)
  • See chapter 19 for defined terms.

Appendix 3Z Page 2

11/3/2002