Sherborne Investors (Guernsey)C Ltd Statement re Investment in Barclays PLC (1010I)
March 19 2018 - 3:36AM
UK Regulatory
TIDMSIGC
RNS Number : 1010I
Sherborne Investors (Guernsey)C Ltd
19 March 2018
Sherborne Investors (Guernsey) C Limited
LEI 213800L8QL59OCFOCB40
19 March 2018
Sherborne Investors (Guernsey) C Limited
Statement re Investment in Barclays PLC
The board of Sherborne Investors (Guernsey) C Limited (the
"Company") notes that Barclays PLC ("Barclays") has released to the
market a TR-1 notification submitted to it by Sherborne Investors
Management LP ("Sherborne Investors"). Sherborne Investors is the
parent of Sherborne Investors Management (Guernsey) LLC, the
investment manager of SIGC, LP, a limited partnership in which the
Company is the principal investor (the "Partnership").
Funds managed by Sherborne Investors, including the Partnership,
have acquired in the aggregate 5.2% of the voting rights of
Barclays.
As provided in the limited partnership agreement of the
Partnership, the board of the Company has approved Sherborne
Investors' recommendation of the Barclays investment. Sherborne
Investors has advised the Company that its turnaround assumptions
indicate a potential return on the investment in line with
Sherborne Investors' customary return objectives.
As at 16 March 2018, Sherborne Investors has invested GBP580
million of the Company's capital in Barclays shares and
derivatives.
Based on various factors, including market conditions and
Sherborne Investors' evaluation of the investment prospects for
Barclays, Sherborne Investors has advised the Company that it
reserves the right to increase or decrease its investment in
Barclays without further notice to the Company.
The Company also announces that, due to a change in investment
prospects, Sherborne Investors elected to liquidate the
Partnership's investment of approximately GBP85 million in another
company in October 2017. All of the proceeds of sale, including a
realised profit of approximately 10% on invested capital, were
returned to the Company, pending reinvestment, which has now
occurred.
This announcement includes inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) No.596/2014
("MAR").
-Ends-
Enquiries:
FTI Consulting +44 (0)20 3727 1000
Jonathon Brill
James Styles
Numis Securities Limited (Broker) +44 (0)20 7260 1000
David Benda
Nathan Brown
Sherborne Investors (Guernsey) C Limited +44 (0)14 8173 5827
Talmai Morgan (Chairman)
Nick Robilliard (Administrator)
This information is provided by RNS
The company news service from the London Stock Exchange
END
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