Rule 8 - Eldridge Pope & Co
September 10 2003 - 8:54AM
UK Regulatory
RNS Number:6107P
Cantor Fitzgerald Europe
10 September 2003
FORM 8.1/8.3
Lodge with a RIS or Newstrack and the Takeover Panel. Use separate form for each
class of securities in which dealings have been made.
Date of disclosure 10/09/03.................
DISCLOSURE UNDER RULES 8.1(a), 8.1(b)(i) AND 8.3
OF THE CITY CODE ON TAKEOVERS AND MERGERS
Date of dealing 09/09/03
Dealing in Eldridge Pope & Co Plc................(name of company)
(1) Class of securities (eg ordinary shares) ordinary shares...............
(2) Amount bought Amount sold Price per unit
50,000 1.700
In addition, Cantor Fitzgerald Europe (and affiliates) have undertaken certain
CFD and Spreadbet transactions (see below).
(3) Resultant total of the same class owned or controlled
(and percentage of class) 575,000 shares * (2.34%)
(4) Party making disclosure Cantor Fitzgerald Europe......
(5) EITHER (a) Name of purchaser/vendor (Note 1) Cantor Fitzgerald
Europe........................
OR (b) If dealing for discretionary client(s), name of
fund management organisation
......................................................................
(6) Reason for disclosure (Note 2)
(a) associate of (i) offeror (Note 3) NO
(ii) offeree company NO
Specify which category or categories of associate (1-8 overleaf)
If category (8), explain .............................................
......................................................................
(b) Rule 8.3 (ie disclosure because of ownership or control of 1% or
more of the class of relevant securities dealt in) YES
Signed, for and on behalf of the party named in (4) above .....................
(Also print name of signatory) Ross Tanton...................
Telephone and extension number 020 7894 7214..................
______________________________________
*In addition, Cantor Fitzgerald Europe (and affiliates) are party to certain
CFDs and Spreadbets ( see below)
Note 1. Specify owner, not nominee or vehicle company. If relevant, also
identify controller of owner, eg where an owner normally acts on instructions of
a controller.
Note 2. Disclosure might be made for more than one reason; if so, state all
reasons.
Note 3. Specify which offeror if there is more than one.
Note 4. When an arrangement exists with any offeror, with the offeree company or
with an associate of any offeror or of the offeree company in relation to
relevant securities, details of such arrangement must be disclosed, as required
by Note 6 on Rule 8.
Note 5. It may be necessary, particularly when disclosing derivative
transactions, to append a sheet to this disclosure form so that all relevant
information can be given. .-see attached
Note 6. In the case of an average price bargain, each underlying trade should be
disclosed.
For full details of disclosure requirements, see Rule 8 of the Code. If in
doubt, contact the Panel on Takeovers and Mergers, Monitoring Section, Tel. No:
020 7638 0129. E-mail:monitoring@disclosure.org.uk
Date of Disclosure: September 10, 2003
Form 8 Enclosure
Cantor Fitzgerald Europe is the beneficial owner of 575,000 Eldridge Pope & Co
Plc ordinary shares. 560,000 of these shares are held to hedge Contract for
Differences ("CFD") positions for clients and 10,000 of these shares are held to
hedge Spreadbet positions between Cantor Index Limited and other clients.
A Long CFD is a product where the client to whom the product is sold is taking a
long economic interest in the underlying share price such that the client can
realise a gain if the price of the underlying securities rises above the
reference price.
A Spread Bet is a product where the client to whom the product is sold can
realise a gain or a loss depending on whether the price of the underlying
security increases above or falls below the reference price. The client's
Spread bet position is described as his "stake". A "stake" is expressed in
pounds (sterling) per "point" and a "point" is the price in pence of the
underlying shares. A client with a "stake" of #100 per point will make a gain
of #100 for every penny increase in the underlying shares and he/she has an
exposure equivalent to 10,000 shares.
A purchaser of a Spread Bet or a CFD contract will realise a gain if the price
of the underlying security goes up. A seller of a Spread Bet or a CFD contract
will realise a gain if the price of the underlying security goes down.
There are no written or oral agreements between Cantor Fitzgerald Europe and any
clients concerning the control of voting rights in relation to the underlying
shares used to hedge the CFDs and Spreadbets.
The CFD contracts are open-ended and there is no rollover into new contracts
Contracts for Differences Date of Disclosure: 10-Sep-03
Eldridge Pope & Co Plc
Cantor Underlying Reference
Product Name Date Fitzgerald Number Price
Executed Buy/Sell Of Shares (pence)
Eldridge Pope & May 16, 2003 Sell 10,000 192
Co Plc, CFD
Eldridge Pope & August 15, Sell 25,000 168
Co Plc, CFD 2003
Eldridge Pope & August 18, Sell 40,000 167.25
Co Plc, CFD 2003
Eldridge Pope & August 21, Sell 165,000 168.4545
Co Plc, CFD 2003
Eldridge Pope & August 26, Sell 175,000 174.7143
Co Plc, CFD 2003
Eldridge Pope & August 27, Sell 35,000 173.5
Co Plc, CFD 2003
Eldridge Pope & August 28, Sell 60,000 173.5
Co Plc, CFD 2003
Eldridge Pope & September 9, Sell 50,000 170
Co Plc, CFD 2003
560,000
Spread Bets
Eldridge Pope & Cantor Stake - # per Reference
Co Plc Fitzgerald Point Price
Expiry Date Date Buy/Sell 1 Point = 1 (pence)
Executed pence
16-Sep-03 May 2, 2003 Sell 100 171.7
This information is provided by RNS
The company news service from the London Stock Exchange
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