15th Apr 2005 09:31
MCC Energy Plc15 April 2005 MCC Energy plc Notification of change in shareholdings MCC Energy plc ("MCC Energy") announces that it has today been notified byMoore, Clayton & Co, Inc. ("MCCI"), a significant shareholder in MCC Energy,that pursuant to an agreement (the "Agreement") entered into on 15 April 2005between MCCI and, amongst others, Old Mutual plc and OM Group (UK) Limited, asubsidiary of Old Mutual ("OM Group"), MCCI has transferred 937,500 ordinaryshares of 0.5p each in the capital of MCC Energy (representing approximately3.6% of the issued share capital of MCC Energy) (the "Shares") to OM Group (the"Transfer"). Old Mutual plc is an international financial services group, whose activitiesare focussed on asset gathering and asset management. Old Mutual currently has£140 billion funds under management, 10% of which are based in the UnitedKingdom. The Transfer forms part of the consideration payable by MCCI under the Agreementand has been calculated by reference to a price per ordinary share of MCC Energyof 50p. As a result of the Transfer, MCCI's shareholding in MCC Energy has decreasedfrom 7,825,996 ordinary shares (representing approximately 30.1% of the issuedshare capital of MCC Energy) to 6,888,496 ordinary shares (representingapproximately 26.5% of the issued share capital of MCC Energy). Anthony Moore, the Executive Vice Chairman of MCC Energy and Sharon Clayton, aNon-executive director of MCC Energy, are also directors and controllingshareholders of MCCI and can therefore be considered to be interested in thetransfer of the Shares. OM Group has agreed to be bound by similar lock-in and orderly marketarrangements in respect of the Shares as those which apply to MCCI in respect ofits shareholding. These require that OM Group will not dispose of the Sharesuntil 4 February 2006, except in certain strictly limited circumstances and fora further period of 12 months thereafter will be subject to an orderly marketagreement in respect of those Shares. Contacts: MCC EnergyKen Denos +1 801 816 2511 M: CommunicationsNick Fox +44 (0) 207 153 1540 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Old Mutual PLC