Brit PLC TR-1: Notification of Major Interest in Shares (4836O)
May 28 2015 - 4:33AM
UK Regulatory
TIDMBRIT
RNS Number : 4836O
Brit PLC
28 May 2015
TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES(i)
--------------------------------------------------
1. Identity of the issuer or Brit PLC
the underlying 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 ü
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An acquisition or disposal of qualifying financial
instruments which may result in the acquisition
of shares already issued to which voting rights
are attached
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An acquisition or disposal of instruments with
similar economic effect to qualifying financial
instruments
------------------------------------------------------- ---------------------------
An event changing the breakdown of voting rights
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Other (please
specify):
----------------------------------------------------- ---------------------------
3. Full name of person(s) Fairfax Financial Holdings
subject to the Limited
notification obligation:
(iii)
------------------------------------------------------ ----------------------------
4. Full name of shareholder(s) FFHL Group Ltd.
(if different from 3.):(iv)
------------------------------------------------------ ----------------------------
5. Date of the transaction 26 May 2015
and date on
which the threshold is
crossed or
reached: (v)
------------------------------------------------------ ----------------------------
6. Date on which issuer 27 May 2015
notified:
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7. Threshold(s) that is/are
crossed or
reached: (vi, vii) 92%
------------------------------------------------------ ----------------------------
8. Notified details:
----------------------------------------------------------------------------------------------------------------------
A: Voting rights attached to shares (viii, ix)
----------------------------------------------------------------------------------------------------------------------
Class/type Situation previous Resulting situation after the
of to the triggering triggering transaction
shares transaction
if possible
using
the ISIN
CODE
------------- ----------------------------------- ------------------------------------------------------------------
Number Number Number Number of % of voting
of of of shares voting rights (x)
Shares Voting rights
Rights
------------- ---------------- ----------------- -------------- ----------------------- -------------------------
Direct Direct Indirect Direct Indirect
(xi) (xii)
------------- ------------ ------------- -------------- --------- ------------ ------------ -----------
Ordinary
Shares 0 0 Nil Nil 372,173,871 Nil% 92.93%
---------------- ----------------- -------------- --------- ------------ ------------ -----------
ISIN
GB00BKRV3L73
------------- ------------ ------------- ------------ ------- ------------ -------- ---------
B: Qualifying Financial Instruments
----------------------------------------------------------------------------------------------------------------------
Resulting situation after the triggering transaction
----------------------------------------------------------------------------------------------------------------------
Type of Expiration Exercise/ Number of voting % of voting
financial date Conversion rights that rights
instrument (xiii) Period (xiv) may 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 Exercise Expiration Exercise/ Number of voting % of voting
financial price date Conversion rights instrument rights (xix,
instrument (xvii) period refers to xx)
(xviii)
--------------- -------------- --------------- ---------------- ------------------------- -----------------------
Nominal Delta
--------------- -------------- --------------- ---------------- ------------------------- ------------ ---------
Total (A+B+C)
----------------------------------------------------------------------------------------------------------------------
Number of voting rights Percentage of voting rights
---------------------------------------------------- ----------------------------------------------------------------
372,173,871 92.93%
---------------------------------------------------- ----------------------------------------------------------------
9. Chain of controlled undertakings through which the
voting rights and/or the
financial instruments are effectively held, if applicable:
(xxi)
----------------------------------------------------------------------------------------------
The ordinary shares of Brit PLC are subject to a takeover
offer made by FFHL Group Ltd. (the Offer), the full
terms and conditions of which were published in an offer
document on 16 March 2015 (the Offer Document). FFHL
Group Ltd. is a wholly owned entity of Fairfax Financial
Holdings Limited.
The triggering event is the Offer being declared unconditional
in all respects on 26 May 2015, and as such FFHL Group
Ltd. is now unconditionally contracted to acquire 372,173,871
ordinary shares in Brit PLC. Accordingly, FFHL Group
Ltd. is entitled to direct the exercise of 92.93 % of
the voting rights in Brit PLC.
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: Paul Rivett, President
Derek Bulas, AVP, Legal
----------------------------------------------------------------- ---------------------------
15. Contact telephone number: Tel: +1.416.367.4941
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This information is provided by RNS
The company news service from the London Stock Exchange
END
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