TIDMAVM

RNS Number : 2934P

Avocet Mining PLC

15 August 2014

 
 
 
 
 TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES(i) 
-------------------------------------------------------------------------------------------- 
 
 1. Identity of the issuer or                                      Avocet Mining PLC 
  the underlying 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                              Yes 
---------------------------------------------------------  --------------------------------- 
 An acquisition or disposal of qualifying financial                        No 
  instruments which may result in the acquisition 
  of shares already issued to which voting rights 
  are attached 
---------------------------------------------------------  --------------------------------- 
 An acquisition or disposal of instruments with                            No 
  similar economic effect to qualifying financial 
  instruments 
---------------------------------------------------------  --------------------------------- 
 An event changing the breakdown of voting rights                         Yes 
---------------------------------------------------------  --------------------------------- 
 Other :                                                                   No 
--------------------------------------------------------   --------------------------------- 
 3. Full name of person(s)                                     Elliott Capital Advisors, 
  subject to the                                              L.P (for itself and related 
  notification obligation:                                  general partners and investment 
  (iii)                                                                managers) 
--------------------------------------------------------  ---------------------------------- 
 4. Full name of shareholder(s)                               Elliott International, L.P, 
  (if different from 3.):(iv)                                    Elliott Associates LP 
                                                             Liverpool Limited Partnership, 
                                                               Manchester Securities Corp 
--------------------------------------------------------  ---------------------------------- 
 5. Date of the transaction                                       13(th) August 2014 
  and date on 
  which the threshold is 
  crossed or 
  reached: (v) 
--------------------------------------------------------  ---------------------------------- 
 6. Date on which issuer                                          15(th) August 2014 
  notified: 
--------------------------------------------------------  ---------------------------------- 
 7. Threshold(s) that is/are 
  crossed or 
  reached: (vi, vii)                                                      28% 
--------------------------------------------------------  ---------------------------------- 
 
 
 
 8. Notified details: 
-------------------------------------------------------------------------------------------------------------------------------- 
 A: Voting rights attached to shares (viii, ix) 
-------------------------------------------------------------------------------------------------------------------------------- 
 Class/type      Situation previous                       Resulting situation after the 
  of              to the triggering                        triggering transaction 
  shares          transaction 
 
  if possible 
  using 
  the ISIN 
  CODE 
--------------  ---------------------------------------  ----------------------------------------------------------------------- 
                 Number                   Number          Number         Number of                   % of voting 
                  of                       of             of shares       voting                      rights (x) 
                  Shares                   Voting                         rights 
                                           Rights 
--------------  -----------------------  --------------  -------------  --------------------------  ---------------------------- 
                                                          Direct         Direct           Indirect   Direct           Indirect 
                                                                          (xi)             (xii) 
--------------      ---------  --------    ------------  -------------  ---------------  ---------  ---------------  ----------- 
 Ordinary 
  Shares 
  GB0000663038   25,695,037               25,695,037      28,245,037     28,245,037                   13.5108% 
--------------  -----------------------  --------------  -------------  ---------------  ---------  ---------------  ----------- 
 
 B: Qualifying Financial Instruments 
-------------------------------------------------------------------------------------------------------------------------------- 
 Resulting situation after the triggering transaction 
-------------------------------------------------------------------------------------------------------------------------------- 
 Type of financial   Expiration             Exercise/                        Number of voting            % of voting 
  instrument          date                   Conversion                       rights that                 rights 
                      (xiii)                 Period (xiv)                     may 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           Exercise     Expiration                Exercise/        Number of                   % of voting 
 financial         price         date (xvii)               Conversion       voting rights               rights (xix, 
 instrument                                                period           instrument                  xx) 
                                                           (xviii)          refers to 
----------------  -----------  ------------------------  ---------------  --------------------------  -------------------------- 
                                                                                                       Nominal          Delta 
----------------  -----------  ------------------------  ---------------  --------------------------  ---------------  --------- 
 
 CFD over 
  Ordinary 
  Shares 
  GB0000663038                                                               29,648,233                14.182% 
----------------  -----------  ------------------------  ---------------  --------------------------  ---------------  --------- 
 Warrants 
  over Ordinary                                           Until 
  Shares           40p          03/06/2016                 03/06/2016      3,000,000                                    0.1382% 
                                                                            (Delta Adj 
  GB0000663038                                                               289,020) 
----------------  -----------  ------------------------  ---------------  --------------------------  ---------------  --------- 
 Warrants 
  over Ordinary                                           Until 
  Shares           40p          02/09/2016                 02/09/2016      1,000,000                                    0.06% 
                                                                            (Delta Adj 
  GB0000663038                                                               123,336) 
----------------  -----------  ------------------------  ---------------  --------------------------  ---------------  --------- 
 
 Total (A+B+C) 
-------------------------------------------------------------------------------------------------------------------------------- 
 Number of voting rights                                    Percentage of voting rights 
---------------------------------------------------------  --------------------------------------------------------------------- 
 58,305,626                                                 27.8901% 
---------------------------------------------------------  --------------------------------------------------------------------- 
 
 
 
 9. Chain of controlled undertakings through which the 
  voting rights and/or the 
  financial instruments are effectively held, if applicable: 
  (xxi) 
-------------------------------------------------------------------------------------------- 
 
 
 Proxy Voting: 
-------------------------------------------------------------------------------------------- 
 10. Name of the proxy holder: 
-------------------------------------------------------------  ----------------------------- 
 11. Number of voting rights proxy 
  holder will cease 
  to hold: 
-------------------------------------------------------------  ----------------------------- 
 12. Date on which proxy holder will 
  cease to hold 
  voting rights: 
-------------------------------------------------------------  ----------------------------- 
 
 
  13. Additional information:                                     Placement of new shares, 
                                                                 further voting rights were 
                                                                acquired but ultimately our 
                                                                    holding was diluted. 
-------------------------------------------------------------  ----------------------------- 
 14. Contact name:                                                     Michael Cross 
-------------------------------------------------------------  ----------------------------- 
 15. Contact telephone number:                                         0203 009 1305 
-------------------------------------------------------------  -----------------------------

This information is provided by RNS

The company news service from the London Stock Exchange

END

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