Chesnara PLC Holding(s) in Company (7683Q)
23 October 2019 - 3:11AM
UK Regulatory
TIDMCSN TIDMPRU
RNS Number : 7683Q
Chesnara PLC
22 October 2019
CHESNARA plc
("Chesnara" or "the Company")
LEI Number: 213800VFRMBRTSZ3SJ06
22 October 2019
NOTIFICATION OF MAJOR HOLDINGS
TR-1: Standard form for notification of major holdings
1a. Identity of the issuer or the Chesnara Plc
underlying issuer of existing shares
to which voting rights are attached(ii)
:
1b. Please indicate if the issuer is a non-UK issuer (please mark with
an "X" if appropriate)
Non-UK issuer
----
2. Reason for the notification (please mark the appropriate box or boxes
with an "X")
An acquisition or disposal of voting rights
----
An acquisition or disposal of financial instruments
----
An event changing the breakdown of voting rights
----
Other (please specify)(iii) : This notification is being made solely X
as a result of the demerger of Prudential plc and M&G plc, resulting
in a change of control from Prudential to M&G.
----
3. Details of person subject to the notification obligation(iv)
Name Prudential plc group of companies
City and country of registered office London, United Kingdom
(if applicable)
4. Full name of shareholder(s) (if different from 3.)(v)
Name
--------------------------------------------
City and country of registered office
(if applicable)
--------------------------------------------
5. Date on which the threshold was 21/10/2019
crossed or reached(vi) :
--------------------------------------------
6. Date on which issuer notified (DD/MM/YYYY): 22/10/2019
--------------------------------------------
7. Total positions of person(s) subject to the notification obligation
% of voting % of voting rights Total of both Total number
rights attached through financial in % (8.A + of voting rights
to shares (total instruments 8.B) of issuer(vii)
of 8. A) (total of 8.B
1 + 8.B 2)
------------------ --------------------- -------------- --------------------
Resulting situation
on the date
on which threshold
was crossed
or reached 0.00% 0.00% 0.00% 150,061,567
------------------ --------------------- -------------- --------------------
Position of
previous notification
(if
applicable) 5.01% 0.00% 5.01%
------------------ --------------------- -------------- --------------------
8. Notified details of the resulting situation on the date on which the
threshold was crossed or reached(viii)
A: Voting rights attached to shares
Class/type of Number of voting rights(ix) % of voting rights
shares
ISIN code (if
possible)
Direct Indirect Direct Indirect
(Art 9 of Directive (Art 10 of Directive (Art 9 of Directive (Art 10 of Directive
2004/109/EC) 2004/109/EC) 2004/109/EC) (DTR5.1) 2004/109/EC)
(DTR5.1) (DTR5.2.1) (DTR5.2.1)
-----------------------------
ORD GBP0.05
GB00B00FPT80 0 0.00%
------------------------ ----------------------------- ------------------------- ---------------------
SUBTOTAL 8. A 0 0.00%
------------------------------------------------------- ------------------------------------------------
B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC
(DTR5.3.1.1 (a))
Type of Expiration Exercise/ Number of voting % of voting
financial date(x) Conversion Period(xi) rights that may rights
instrument be acquired if
the instrument
is
exercised/converted.
----------- ----------------------------------- -------------------------------- ---------------------
SUBTOTAL 8. B 1 0 0.00%
----------------------------------- -------------------------------- ---------------------
B 2: Financial Instruments with similar economic effect according to Art.
13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b))
Type of Expiration Exercise/ Physical or Number of % of voting
financial date(x) Conversion cash voting rights rights
instrument Period (xi) settlement(xii)
---------------- ---------------------- ----------------------- --------------------
SUBTOTAL 8.B.2 0 0.00%
----------------------- --------------------
9. Information in relation to the person subject to the notification
obligation (please mark the
applicable box with an "X")
Person subject to the notification obligation is not controlled
by any natural person or legal entity and does not control any other
undertaking(s) holding directly or indirectly an interest in the
(underlying) issuer(xiii)
Full chain of controlled undertakings through which the voting rights X
and/or the
financial instruments are effectively held starting with the ultimate
controlling natural person or legal entity(xiv) (please add additional
rows as necessary)
Name(xv) % of voting rights % of voting rights Total of both if
if it equals or through financial it equals or is
is higher than the instruments if it higher than the
notifiable threshold equals or is higher notifiable threshold
than the notifiable
threshold
---------------------- --------------------- ------------------------
Prudential plc
(Parent Company) 0.00% 0.00% 0.00%
---------------------- --------------------- ------------------------
10. In case of proxy voting, please identify:
Name of the proxy holder N/A
-----------------------------------------------
The number and % of voting rights N/A
held
-----------------------------------------------
The date until which the voting rights N/A
will be held
-----------------------------------------------
11. Additional information(xvi)
Place of completion London, United Kingdom
Date of completion 22 October 2019
-----------------------
The above notification is made in accordance with the
requirements of the EU Market Abuse Regulation.
For further information, please contact: -
Roddy Watt
Director, Capital Markets
FWD
Forward thinking communications
T - 020 7280 0651
E - roddy.watt@fwdconsulting.co.uk
Notes to Editors
Chesnara plc ('Chesnara'), which listed on the London Stock
Exchange in May 2004, is the owner of Countrywide Assured plc ('CA
plc'), Movestic Livförsäkringar AB ('Movestic') and Chesnara
Holdings BV. Chesnara Holdings BV is the intermediate holding
company of 'Waard Group' and 'Scildon'.
CA plc is a UK life assurance subsidiary that is closed to new
business. In June 2005 Chesnara acquired a further closed life
insurance company - City of Westminster Assurance - for GBP47.8m.
With effect from 30 June 2006, CWA's policies and assets were
transferred into CA plc. Save & Prosper Insurance Limited and
its subsidiary, Save & Prosper Pensions Limited, were acquired
on 20 December 2010 for GBP63.5 million. With effect from 31
December 2011, the business of Save & Prosper was transferred
into CA plc. On 28 November 2013 Chesnara acquired Direct Line Life
Insurance Company Limited (subsequently renamed Protection Life
Company Limited) from Direct Line Group plc for GBP39.3m. On 31
December 2014 the PL business transferred into CA plc. CA plc
operates an outsourced business model.
Movestic, a Swedish life assurance company which originally
focused on pensions and savings, was acquired on 23 July 2009 for
GBP20 million. The company is open to new business and seeks to
grow its position in the Swedish unit-linked market. Its
proposition was strengthened in February 2010 with the acquisition
of the operations of Aspis Försäkringar Liv AB which has a risk and
health product bias.
The Waard Group, a Netherlands-based Group comprising two closed
book insurance companies (life and income protection) and a
servicing company, was acquired on 19 May 2015 for EUR69.9m from
DSB Beheer B.V., a Dutch financial services Group. The group
comprises Waard Leven N.V., Waard Schade N.V. and Waard
Verzekeringen B.V. The portfolio of the Waard Group is
predominantly term life policies with some unit linked and income
protection policies. On 5 April 2017 Chesnara completed its
acquisition of Legal & General Nederland Levensverzekering
Maatschappij N.V. ('LGN') for EUR161.2 million. The business was
renamed Scildon, is in the Dutch life assurance market and, as with
our Swedish subsidiary Movestic, it writes protection and pension
new business.
Further details are available on the Company's website
(www.chesnara.co.uk).
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
HOLFEWFMEFUSESS
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