Pan European Terminals PLC Holding(s) in Company (6981P)
04 October 2013 - 1:27AM
UK Regulatory
TIDMPAN
RNS Number : 6981P
Pan European Terminals PLC
03 October 2013
3 October 2013
Pan European Terminals Plc
("PAN" or "the Company")
Notification of Major Shareholding
Pan European Terminals (AIM: PAN), was notified on 2 October
2013 that, on 1 October 2013, Alpcot Capital Management Ltd
disposed of its entire shareholding of 14,570,702 ordinary shares
of 1p each in the Company ("Shares"), representing approximately
13.7% of the Company's issued Shares.
Bjorn Lindstrom, Senior Partner of Alpcot Capital Management,
commented, "Alpcot is primarily an Eastern European-focused
investment company and our original investment in Pan European
Terminals was at a time when it had the majority of its operational
assets in this region. In the past two years, as PAN has
successfully enlarged its operations into Western Europe, it no
longer meets our investing criteria and therefore we have sold our
holding, at a premium to the current market price. We remain
supportive of the new management team and wish Simon and his team
all the best for the future."
Simon Escott, Interim Executive Chairman and Chief Executive of
PAN, commented, "Alpcot has been a very positive and supportive
shareholder over the past four years. We look forward to welcoming
the new investors as shareholders and to a similar, long standing
supportive relationship with them."
A TR-1 Form dated 2 October 2013 prepared by Alpcot Capital
Management Ltd under the FCA Disclosure and Transparency Rules and
provided to the Company is set out below.
-ends-
Enquiries:
Pan European Terminals plc Tel: +44 (0)20 3145 1908
Simon Escott, Chief Executive Mob: +44 (0)7920 095 800
Westhouse Securities Ltd (Nomad and Broker) Tel: +44 (0)20 7601 6000
Richard Johnson / Antonio Bossi
Leander (Financial PR) Tel: +44 (0)7795 168 157
Christian Taylor-Wilkinson
Notes to Editors:
Pan European Terminals Plc operates hydrocarbon refined product
Storage and Transhipment Terminals in Aabenraa (Denmark),
Kaliningrad City (Russia) and Baltysk (Russia). It also leases and
operates tanks in Rotterdam (Holland). The Group presently has
approx. 400,000 Cubic Meters of tank capacity under ownership or
management, with approximately 40% of its annual profit now being
derived from its non-Russian assets. The Group has been building
critical mass in this field for three years and offers its
customers flexibility, competitive rates and excellent facilities
for storage, transhipment and bunkering services.
TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
-----------------------------------------------
1. Identity of the issuer or the underlying Pan European Terminals plc
issuer
of existing shares to which voting rights
are
attached:
------------------------------------------------ ----------------------------------
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 instruments No
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 No
effect to qualifying financial instruments
--------------------------------------------------------------------------- -------
An event changing the breakdown of voting rights No
--------------------------------------------------------------------------- -------
Other (please No
specify):
------------------ ------------------------------------------------------- -------
3. Full name of person(s) subject Alpcot Capital Management Ltd
to the
notification obligation:
------------------------------------------ ----------------------------------------
4. Full name of shareholder(s) As above
(if different from 3.):
------------------------------------------ ----------------------------------------
5. Date of the transaction and date 01/10/2013
on
which the threshold is crossed
or
reached:
------------------------------------------ ----------------------------------------
6. Date on which issuer notified: 02/10/2013
------------------------------------------ ----------------------------------------
7. Threshold(s) that is/are crossed Below 3%
or
reached:
------------------------------------------ ----------------------------------------
8. Notified details:
------------------------------------------------------------------------------------------------------------------------
A: Voting rights attached to shares
------------------------------------------------------------------------------------------------------------------------
Class/type Situation previous Resulting situation after the triggering
of to the triggering transaction
shares transaction
if possible
using
the ISIN
CODE
------------- -------------------------------------- -----------------------------------------------------------------
Number Number Number Number of voting % of voting rights
of of of rights (x)
Shares Voting shares
Rights
------------- ---------------- -------------------- --------- ----------------------- -----------------------------
Direct Direct Indirect Direct Indirect
(xi) (xii)
------------- ----- ------- ------ ------ ---- --------- ------------ --------- ------------- --------------
GB00B12V3082
GBP0.01 ord 14'570'702 14'570'702 0 0 0 0.00% 0.00%
---------------- -------------------- --------- ------------ --------- ------------- --------------
B: Qualifying Financial Instruments
------------------------------------------------------------------------------------------------------------------------
Resulting situation after the triggering transaction
------------------------------------------------------------------------------------------------------------------------
Type of financial Expiration Exercise/ Number of voting % of voting
instrument date (xiii) Conversion Period rights that may rights
(xiv) be
acquired if the
instrument is
exercised/ converted.
---------------------- --------------- ----------------------------- -------------------------- --------------------
C: Financial Instruments with similar economic effect to Qualifying Financial
Instruments
------------------------------------------------------------------------------------------------------------------------
Resulting situation after the triggering transaction
------------------------------------------------------------------------------------------------------------------------
Type of Exercise Expiration Exercise/ Number of voting % of voting rights
financial price date Conversion rights instrument
instrument period refers to
--------------- -------------- -------------- --------------- --------------------------- -------------------------
Nominal Delta
--------------- -------------- -------------- --------------- --------------------------- ------------ -----------
Total (A+B+C)
------------------------------------------------------------------------------------------------------------------------
Number of voting rights Percentage of voting rights
-------------------------------------------------------------- --------------------------------------------------------
0 0.00%
-------------------------------------------------------------- --------------------------------------------------------
9. Chain of controlled undertakings through which the voting rights and/or
the
financial instruments are effectively held, if applicable:
--------------------------------------------------------------------------------
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:
---------------------------------------- --------------------------------------
14. Contact name: Bjorn Lindstrom
---------------------------------------- --------------------------------------
15. Contact telephone number: +44 (0)20 7518 0532
---------------------------------------- --------------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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