Paddy Power plc Holding(s) in Company (7008N)
February 01 2016 - 10:50AM
UK Regulatory
TIDMPAP
RNS Number : 7008N
Paddy Power plc
01 February 2016
Standard Form TR-1
Standard form for notification of major holdings
NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant
issuer and to the Central Bank of Ireland)(i)
-------------------------------------------------------------------------------------
1. Identity of the issuer or the underlying issuer of
existing shares to which voting rights are attached(ii)
:
Paddy Power Plc
-------------------------------------------------------------------------------------
2. Reason for the notification (please tick the appropriate
box or boxes):
[X] An acquisition or disposal of voting rights
[X] An acquisition or disposal of financial instruments
[ ] An event changing the breakdown of voting rights
[ ] Other (please specify)(iii) :
-------------------------------------------------------------------------------------
3. Details of person subject to the notification obligation(iv)
:
Name: City and country of registered
Parvus Asset Management office (if applicable):
Europe Limited United Kingdom
------------------------------------- ----------------------------------------------
4. Full name of shareholder(s) (if different from 3.)(v)
:
Parvus Asset Management Europe Limited has been appointed
as Investment Manager a number of funds and managed
accounts. Under the terms of the various investment
management agreements, Parvus Asset Management Europe
Limited holds the power to vote any physical shareholdings
held by these clients. No individual client holds voting
rights which equal or exceed the notifiable threshold.
-------------------------------------------------------------------------------------
5. Date on which the threshold was crossed or reached(vi)
:
28 January 2016
-------------------------------------------------------------------------------------
6. Date on which issuer notified:
1 February 2016
-------------------------------------------------------------------------------------
7. Threshold(s) that is/are crossed or reached:
Going below 5% in equity and going above 5% in equity
swap.
-------------------------------------------------------------------------------------
8. Total positions of person(s) subject to the notification
obligation:
-------------------------------------------------------------------------------------
% of voting % of voting Total of Total number
rights attached rights through both in % of voting
to shares financial (9.A + 9.B) rights of
(total of instruments issuer(vii)
9.A) (total of
9.B.1 + 9.B.2)
------------------ ----------------- ---------------- ------------- -------------
Resulting
situation
on the date
on which
threshold
was crossed
or reached 0% 5.20% 5.20% 0
------------------ ----------------- ---------------- ------------- -------------
Position
of previous
notification
(if applicable) 5.998% 0% 5.998%
------------------ ----------------- ---------------- ------------- -------------
9. 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 Number of voting rights(ix) % of voting rights
of
shares
ISIN code
(if possible)
--------------------
Direct Indirect Direct Indirect
-------------------- ------------------- ------------- -------------------- ------------------------------
IE00BWT6H894 0 0 0% 0%
-------------------- ------------------- ------------- -------------------- ------------------------------
SUBTOTAL
A 0 0%
-------------------- ------------------- ------------- -------------------- ------------------------------
B 1: Financial Instruments according to Regulation 17(1)(a)
of the Regulations
--------------------------------------------------------------------------------------------------------------
Type of financial Expiration Exercise/ Number of voting % of voting
instrument date(x) Conversion rights that rights
Period(xi) may be acquired
if the instrument
is exercised/converted.
-------------------- ------------------- ------------- --------------------------------- -----------------
SUBTOTAL B.1
------------- --------------------------------- -----------------
B 2: Financial Instruments with similar economic effect
according to Regulation 17(1)(b) of the Regulations
--------------------------------------------------------------------------------------------------------------
Type of Expiration Exercise/ Physical Number % of voting
financial date(x) Conversion or cash of voting rights
instrument Period settlement(xii) rights
(xi)
-------------------- ------------------- ------------- -------------------- ----------- -----------------
Equity Swap 03/05/2016 N/A Cash 1,760,502 3.99%
-------------------- ------------------- ------------- -------------------- ----------- -----------------
Equity Swap 30/11/2016 N/A Cash 531,657 1.21%
-------------------- ------------------- ------------- -------------------- ----------- -----------------
SUBTOTAL
B.2 2,292,159 5.20%
-------------------- ----------- -----------------
10. Information in relation to the person subject to
the notification obligation (please tick the applicable
box):
[ ] 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)
[X] Full chain of controlled undertakings through which
the voting rights and/or the
financial instruments are effectively held starting
with the ultimate controlling natural person or legal
entity(xiv) :
Parvus Asset Management Europe Limited is controlled
by Parvus Asset Management Limited and Oakentree Limited.
Parvus Asset Management Limited is in turn controlled
by Parvus Asset Management (Cayman) Limited, which is
controlled by Edoardo Mercadante.
Oakentree Limited is in turn controlled by Mads Gensmann.
Messrs Mercadante and Gensmann are directors of Parvus
Asset Management Limited, which company holds the power
to vote these shares.
Name(xv) % of voting % of voting Total of both
rights if it rights through if it equals
equals or is financial instruments or is higher
higher than if it equals than the notifiable
the notifiable or is higher threshold
threshold than the notifiable
threshold
--------------------- ---------------- ----------------------- ---------------------
No individual
fund holds voting
rights equal
to or greater
than the notifiable
threshold.
--------------------- ---------------- ----------------------- ---------------------
11. In case of proxy voting: [name of the proxy holder]
will cease to hold [% and number] voting rights as of
[date]
N/A
---------------------------------------------------------------------------------------
12. Additional information(xvi) :
N/A
---------------------------------------------------------------------------------------
Done at London on 1 February 2016.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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