Notification of Major Interes

For filings with the FSA include the annex

For filings with issuer exclude the annex 

TR-1: Notifications of Major Interests in Shares

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

International Ferro Metals Limited

2. Reason for notification (yes/no)

An acquisition or disposal of voting rights

Yes

An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached 

An event changing the breakdown of voting rights

Other (please specify):

3. Full name of person(s) subject to notification obligation:

JPMorgan Chase & Co

4. Full name of shareholder(s) (if different from 3):

JPMorgan Asset Management (UK) Limited

J.P. Morgan International Bank Limited

J.P. Morgan Investment Management Inc. 

JPMorgan Chase Bank, National Association

J.P. Morgan Securities Ltd.

5. Date of transaction (and date on which the threshold is crossed or reached if different):

19 May 2008

6. Date on which issuer notified:

16 June 2008

7. Threshold(s) that is/are crossed or reached:

11%

8: Notified Details

A: Voting rights attached to shares

Class/type of shares

If possible use ISIN code

Situation previous to the triggering transaction

Resulting situation after the triggering transaction

Number of shares

Number of voting rights

Number of shares

Number of voting rights

Percentage of voting rights

Direct

Indirect

Direct

Indirect

AU0000XINAK8

54,159,001

54,159,001

56,086,888

2,067,210

54,019,678

0.41%

10.72%

B: Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration date

Exercise/ conversion period/date 

No. of voting rights that may be acquired (if the instrument exercised/converted)

Percentage of voting rights

N/A

Total (A+B)

Number of voting rights

Percentage of voting rights

56,086,888

11.13%

9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectively held, if applicable:

Total disclosable holding for JPMorgan Chase & Co. : 56,086,888 (11.13%)

Holdings by controlled undertakings of JPMorgan Chase & Co. are as follows:

JPMorgan Asset Management (UK) Limited: 50,586,983 (10.03%)

J.P. Morgan International Bank Limited

J.P. Morgan Investment Management Inc. 

JPMorgan Chase Bank, National Association

J.P. Morgan Securities Ltd.

Proxy Voting:

10. Name of proxy holder:

N/A

11. Number of voting rights proxy holder will cease to hold:

N/A

12. Date on which proxy holder will cease to hold voting rights:

N/A

13. Additional information:

JPMorgan Chase & Co. had a holding of 8.51% in International Ferro Metals Limited on 31 August 2007 which became notifiable as a result of the share's admission to trading on the main market of the London Stock Exchange. As a result of transactions in the market, the group's holding crossed the relevant thresholds as follows:

23 Nov 2007 9.31%

19 Dec 2007 10.00%

25 Jan 2008 11.15%

04 Feb 2008 10.80%

13 Mar 2008 9.96%

15 Apr 2008 10.01% 

14 Contact name:

Michael Kirwan

15. Contact telephone name:

020 7325 1413

Annex: Notification of major interests in shares

A: Identity of the persons or legal entity subject to the notification obligation

Full name 

(including legal form of legal entities)

JPMorgan Chase & Co

Contact address 

(registered office for legal entities)

270 Park Avenue, New York, NY10017

Phone number & email

001 212 270 6000

Other useful information 

(at least legal representative for legal persons)

N/A

B: Identity of the notifier, if applicable

Full name

Michael Kirwan

Contact address

JPMorgan Chase, 13th Floor, 125 London Wall, London, EC2Y 5AJ

Phone number & email

020 7325 4513

[email protected]

Other useful information

(e.g. functional relationship with the person or legal entity subject to the notification obligation)

N/A

C: Additional information

N/A