Ashcourt Rowan PLC Holding(s) in Company (7516H)

TIDMARP
RNS Number : 7516H
Ashcourt Rowan PLC
21 May 2014
 
 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 
  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                                                         Reade Eugene Griffith 
  notification obligation: (iii) 
--------------------------------------------  ---------------------------------------- 
 4. Full name of shareholder(s)                          State Street Nominees Limited 
  (if different from 3.):(iv) 
--------------------------------------------  ---------------------------------------- 
 5. Date of the transaction and date                                       19 May 2014 
  on 
  which the threshold is crossed 
  or 
  reached: (v) 
--------------------------------------------  ---------------------------------------- 
 6. Date on which issuer notified:                                         21 May 2014 
--------------------------------------------  ---------------------------------------- 
 7. Threshold(s) that is/are crossed 
  or 
  reached: (vi, vii)                                                               29% 
--------------------------------------------  ---------------------------------------- 
 
 
 
 8. Notified details: 
---------------------------------------------------------------------------------------------------------------------- 
 A: Voting rights attached to shares (viii, ix) 
---------------------------------------------------------------------------------------------------------------------- 
 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 shares      rights                      (x) 
                    Shares               Voting 
                                         Rights 
----------------  -------------------  -------------  -------------  --------------------------  --------------------- 
                                                       Direct         Direct         Indirect     Direct      Indirect 
                                                                       (xi)           (xii) 
----------------    -------  --------  -------  ----  -------------  -------------  -----------  ----------  --------- 
 
  Ordinary 
  shares 
  (GB00B6540P35)   10,024,028           28.25%                                       10,360,028               29.19% 
                  -------------------  -------------  -------------  -------------  -----------  ----------  --------- 
 
 
 B: Qualifying Financial Instruments 
---------------------------------------------------------------------------------------------------------------------- 
 Resulting situation after the triggering transaction 
---------------------------------------------------------------------------------------------------------------------- 
 Type of financial            Expiration         Exercise/                 Number of voting         % of voting 
  instrument                   date (xiii)        Conversion                rights that may          rights 
                                                  Period (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 
  instrument          price              date (xvii)    Conversion     rights instrument           rights (xix, 
                                                        period         refers to                   xx) 
                                                        (xviii) 
------------------  -----------------  -------------  -------------  --------------------------  --------------------- 
                                                                                                  Nominal     Delta 
------------------  -----------------  -------------  -------------  --------------------------  ----------  --------- 
 
 
 Total (A+B+C) 
---------------------------------------------------------------------------------------------------------------------- 
 Number of voting rights                                            Percentage of voting rights 
-----------------------------------------------------------------  --------------------------------------------------- 
 10,360,028                                                         29.19% 
-----------------------------------------------------------------  --------------------------------------------------- 
 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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