What am I not seeing here? the $(SHARED) target should create a .so file, right?

Makefile

CC		= clang
CFLAGS	= -Wall -ggdb3 -std=gnu11 -O0 -Iinclude
OBJDIR	= build
BINDIR	= bin
LIBDIR	= lib
TARGET	= $(BINDIR)/obj_test
SHARED	= $(LIBDIR)/giza.so
LINKER	= support/version.ld
SOURCES	= $(shell echo src/*.c)
HEADERS	= $(shell echo include/*.h)
OBJECTS	= $(SOURCES:.c=.o)

.phony:
all: directories $(SHARED) $(TARGET)

directories:
	mkdir -p $(OBJDIR)
	mkdir -p $(LIBDIR)
	mkdir -p $(BINDIR)

clean:
	rm -rf $(OBJDIR)/*
	rm -f $(BINDIR)/*

$(TARGET): $(SHARED)
	$(CC) -Iinclude -o $@ $(CFLAGS) $(SHARED) sample/main.c

$(SOURCES:.c=.o):%.o:%.c
	$(CC) -c $(FLAGS) -fPIC $(CFLAGS) -D $(subst SRC/,,$(shell echo ${@:.o=} | tr a-z A-Z)) -o ${subst src,build,$@} $<

$(SHARED): ${subst src,build,$^}
	$(CC) -shared -T $(LINKER) -o $(SHARED) ${subst src,build,$(OBJECTS)}

version.ld

/*  
 *  ================================================================
 *  "You are not expected to understand this." - Sixth Edition UNIX
 *  "Ooh... black magic." - Rudy Valencia
 *	
 *  "I don't get or understand how or WHY this works... but, damned
 *   if it doesn't." - Robert Butler
 *  ================================================================
 */

WORKSTATION_1.0 {
	global:
		GetIterator;
		NextIterator;
		IteratorEnd;
		Count;
		SecurityAttribute;
		SecurityDescriptor;
		AssignAttribute;
		AssignDescriptor;
		Font;
		FontSetFace;
		FontSetSize;
		FontSetStyle;
		Iterator;
		End;
		AllocObject;
		CreateObject;
		DeleteObject;
		IObjectCreate;
		IObjectDelete;
		IObjectQuery;
		IsHandle;
		DeleteItem;
		Vector;
		Window;
		SetText;
		AppendStyle;
		SetStyle;
		RemoveStyle;
	
	local:
		__GetIterator_workstation_1_0;
		__NextIterator_workstation_1_0;
		__IteratorEnd_workstation_1_0;
		__Count_workstation_1_0;
		__NewSecurityAttribute_workstation_1_0;
		__NewSecurityDescriptor_workstation_1_0;
		__AssignAttribute_workstation_1_0;
		__AssignDescriptor_workstation_1_0;
		__NewFont_workstation_1_0;
		__SetFontFace_workstation_1_0;
		__SetFontSize_workstation_1_0;
		__SetFontStyle_workstation_1_0;
		__BeginIterator_workstation_1_0;
		__EndIterator_workstation_1_0;
		__AllocObject_workstation_1_0;
		__CreateObject_workstation_1_0;
		__DeleteObject_workstation_1_0;
		__workstation_IsHandle_workstation_1_0;
		__DeleteItem_workstation_1_0;
		__Vector_workstation_1_0;
		__NewWindow_workstation_1_0;
		__SetWindowText_workstation_1_0;
		__AppendStyle_workstation_1_0;
		__RemoveStyle_workstation_1_0;
		TaggedObjectAlloc;
		SetObjectInstance;
		GetObjectInstance;
		GetInstSignature;
		IObjectCreateV1;
		IObjectDeleteV1;
		IObjectQueryInfoV1;
};