ARP Ashcourt Rowan

TIDMARP

RNS Number : 4959W

Ashcourt Rowan PLC

27 December 2013

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES(i)

 
 1. Identity of the issuer or the underlying                                                        Ashcourt Rowan plc 
  issuer of existing shares to which voting 
  rights are attached: ii 
----------------------------------------------------  ---------------------------------------------------------------- 
 2 Reason for the notification (please tick the appropriate box or boxes): 
---------------------------------------------------------------------------------------------------------------------- 
 An acquisition or disposal of voting rights                                                                 X 
---------------------------------------------------------------------------------------------------  ----------------- 
 An acquisition or disposal of qualifying financial instruments 
  which may result in the acquisition of shares already issued to 
  which voting rights are attached 
---------------------------------------------------------------------------------------------------  ----------------- 
 An acquisition or disposal of instruments with similar economic                                             X 
  effect to qualifying financial instruments 
---------------------------------------------------------------------------------------------------  ----------------- 
 An event changing the breakdown of voting rights 
---------------------------------------------------------------------------------------------------  ----------------- 
 Other (please specify): 
---------------------------------------------------------------------------------------------------  ----------------- 
  3. Full name of person(s) subject                                                       Polygon Global Partners LLP 
   to the notification obligation: iii                                                    Reade Eugene 
                                                                                          Griffith 
----------------------------------------  ---------------------------------------------------------------------------- 
  4. Full name of shareholder(s) (if                                                     State Street Nominees Limited 
   different from 3.):(iv) 
----------------------------------------  ---------------------------------------------------------------------------- 
  5. Date of the transaction and date                                                                 20 December 2013 
   on which the threshold is crossed 
   or reached: v 
----------------------------------------  ---------------------------------------------------------------------------- 
 6. Date on which issuer notified:                                                                    24 December 2013 
----------------------------------------  ---------------------------------------------------------------------------- 
  7. Threshold(s) that is/are crossed                                                            17%, 18%, 19% and 20% 
   or reached: vi, vii 
----------------------------------------  ---------------------------------------------------------------------------- 
 
 
 
 8. Notified details: 
--------------------------------------------------------------------------------------------------- 
 A: Voting rights attached to shares viii, ix 
--------------------------------------------------------------------------------------------------- 
 Class/type of         Situation previous      Resulting situation after the triggering 
  shares                to the triggering       transaction 
  if possible using     transaction 
  the ISIN CODE 
--------------------  ----------------------  ----------------------------------------------------- 
                       Number of   Number of   Number of   Number of voting      % of voting rights 
                        Shares       Voting     shares      rights                              (x) 
                                     Rights 
--------------------  ----------  ----------  ----------  -------------------  -------------------- 
                                               Direct       Direct   Indirect    Direct   Indirect 
                                                             (xi)         xii 
--------------------  ----------  ----------  ----------  --------  ---------  --------  ---------- 
 Ordinary shares 
  (GB00B6540P35)       2,570,185   7.27%                            3,500,185             9.90% 
--------------------  ----------  ----------  ----------  --------  ---------  --------  ---------- 
 
 
 B: Qualifying Financial Instruments 
-------------------------------------------------------------------------------------------------- 
 Resulting situation after the triggering transaction 
-------------------------------------------------------------------------------------------------- 
 Type of financial   Expiration   Exercise/            Number of voting         % of voting rights 
  instrument          date xiii    Conversion Period    rights that may 
                                   xiV                  be acquired if the 
                                                        instrument is 
                                                        exercised/ converted. 
------------------  -----------  -------------------  -----------------------  ------------------- 
 
 
 
 C: Financial Instruments with similar economic effect to Qualifying Financial 
  Instruments (xv, xvi) 
-------------------------------------------------------------------------------------------------------------- 
 Resulting situation after the triggering transaction 
-------------------------------------------------------------------------------------------------------------- 
 Type of financial      Exercise    Expiration    Exercise/        Number of voting      % of voting rights 
  instrument             price       date xvii     Conversion       rights instrument     xix, 
                                                   period xviii     refers to             xx 
---------------------  ----------  ------------  ---------------  --------------------  ---------------------- 
 Total return                                                      3,781,765             Nominal       Delta 
  swap relating 
  to ordinary shares 
  (GB00B6540P35) 
---------------------  ----------  ------------  ---------------  --------------------  -----------  --------- 
                                                                                                       10.69% 
     ----------------------------------------------------------------------------------------------  --------- 
 

Total (A+B+C)

 
 Number of voting rights   Percentage of voting rights 
------------------------  ---------------------------- 
 7,281,950                 20.59% 
------------------------  ---------------------------- 
 
 
 9. Chain of controlled undertakings through which the voting rights and/or 
  the financial instruments are effectively held, if applicable: xxi 
--------------------------------------------------------------------------- 
 Reade Griffith holds a majority of the voting rights in Polygon Global 
  Partners LLP. 
  Consequently, Polygon Global Partners LLP is a "controlled undertaking" 
  in relation to Mr. Griffith. 
--------------------------------------------------------------------------- 
 
 
 Proxy Voting: 
---------------------------------------------------- 
 10. Name of the proxy holder:                   N/a 
-----------------------------------------------  --- 
  11. Number of voting rights proxy holder will  N/a 
   cease to hold: 
-----------------------------------------------  --- 
  12. Date on which proxy holder will cease to   N/a 
   hold voting rights: 
-----------------------------------------------  --- 
 
 
  13. Additional information:      The positions that gave rise to the 
                                    notification obligation are held by 
                                    Tetragon Financial Group Master Fund 
                                    Limited ("TFG"). Tetragon Financial 
                                    Management LP ("TFM") has been appointed 
                                    as the investment manager of TFG. Polygon 
                                    Global Partners LLP provides certain 
                                    services to TFM pursuant to a services 
                                    agreement between them. 
--------------------------------  ------------------------------------------- 
  14. Contact name:                                       Sean Côté 
--------------------------------  ------------------------------------------- 
  15. Contact telephone number:                                 0207 901 8330 
--------------------------------  ------------------------------------------- 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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