20th Oct 2009 09:28
| TR-1: Notifications of Major Interests in Shares | ||||||||||||||||||||||||||||||||||
| 1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached: | Tate & Lyle PLC | |||||||||||||||||||||||||||||||||
| 2. Reason for the notification (please tick the appropriate box or boxes): | ||||||||||||||||||||||||||||||||||
| An acquisition or disposal of voting rights | No | |||||||||||||||||||||||||||||||||
| An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached | No | |||||||||||||||||||||||||||||||||
| An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments | No | |||||||||||||||||||||||||||||||||
| An event changing the breakdown of voting rights | No | |||||||||||||||||||||||||||||||||
| Other (please specify): | Yes | |||||||||||||||||||||||||||||||||
| The Harbinger Capital Partners Special Situations Fund, L.P. ("Special Fund") held certain shares in the Issuer in an account at Lehman Brothers International (Europe) ("LBIE"). On 15 September 2008, LBIE was placed into administration and four partners of PriceWaterhouseCoopers LLP were appointed as joint administrators ("Joint Administrators"). The Joint Administrators have advised that 17,723,884 of the shares have been rehypothecated. The Special Fund believes at this time that rehypothecated shares will not be recoverable. The Joint Administrators have proposed a framework which, if approved, would entitle customers to a claim for the rehypothecated securities valued as of the close of market on 12 September 2008 which would be set off against amounts owed by such customer to LBIE. Accordingly, the Special Fund in this filing has reduced the number of shares of the Issuer held by it to the extent such shares were held at LBIE and were rehypothecated. By making this filing, the Special Fund does not waive any arguments that it is entitled to recover such shares and expressly reserves such arguments. Certain non-rehypothecated shares were also held at LBIE and the timing and likelihood of the return of such shares is uncertain at this time. Subsequent filings may be necessary to address a final determination regarding the disposition of such shares. | ||||||||||||||||||||||||||||||||||
| 3. Full name of person(s) subject to thenotification obligation: | Harbinger Capital Partners LLC as the investment adviser to (i) Harbinger Capital Partners Master Fund I, Ltd. and (ii) Harbinger Capital Partners Special Situations Fund, L.P. | |||||||||||||||||||||||||||||||||
| 4. Full name of shareholder(s)(if different from 3.): | Harbinger Capital Partners Master Fund I Ltd and Harbinger Capital Partners Special Situations Fund, L.P. | |||||||||||||||||||||||||||||||||
| 5. Date of the transaction and date onwhich the threshold is crossed orreached: | 15 September 2008 | |||||||||||||||||||||||||||||||||
| 6. Date on which issuer notified: | 19 October 2009 | |||||||||||||||||||||||||||||||||
| 7. Threshold(s) that is/are crossed orreached: | Previous threshold - 13% Current threshold - 9% | |||||||||||||||||||||||||||||||||
| 8. Notified details: | ||||||||||||||||||||||||||||||||||
| A: Voting rights attached to shares | ||||||||||||||||||||||||||||||||||
| Class/type ofshares if possible usingthe ISIN CODE | Situation previousto the triggeringtransaction | Resulting situation after the triggering transaction | ||||||||||||||||||||||||||||||||
| NumberofShares | NumberofVotingRights | Numberof shares | Number of votingrights | % of voting rights | ||||||||||||||||||||||||||||||
| Direct | Direct | Indirect | Direct | Indirect | ||||||||||||||||||||||||||||||
| Ordinary shares of £0.25 | 60,037,554 | 60,037,554 | 42,313,670 | 42,313,670 | 9.21% | |||||||||||||||||||||||||||||
| ISIN Code:GB0008754136 | ||||||||||||||||||||||||||||||||||
| B: Qualifying Financial Instruments | ||||||||||||||||||||||||||||||||||
| Resulting situation after the triggering transaction | ||||||||||||||||||||||||||||||||||
| Type of financialinstrument | Expirationdate | Exercise/ Conversion Period | Number of votingrights that may beacquired if theinstrument isexercised/ converted. | % of votingrights | ||||||||||||||||||||||||||||||
| C: Financial Instruments with similar economic effect to Qualifying Financial Instruments | ||||||||||||||||||||||||||||||||||
| Resulting situation after the triggering transaction | ||||||||||||||||||||||||||||||||||
| Type of financialinstrument | Exercise price | Expiration date | Exercise/Conversion period | Number of voting rights instrument refers to | % of voting rights | |||||||||||||||||||||||||||||
| Total (A+B+C) | ||||||||||||||||||||||||||||||||||
| Number of voting rights | Percentage of voting rights | |||||||||||||||||||||||||||||||||
| 42,313,670 | 9.21% | |||||||||||||||||||||||||||||||||
| 9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: | |||||
| Harbinger Capital Partners LLC serves as an investment adviser to (i) Harbinger Capital Partners Master Fund I, Ltd (which holds 30,000,000 voting rights in the issuer (6.53%)) and (ii) Harbinger Capital Partners Special Situations Fund, L.P. (which holds 12,313,670 voting rights in the issuer (2.68%)) The managing member of Harbinger Capital Partners LLC is Harbinger Holdings, LLC, which is in turn controlled by Philip A. Falcone. | |||||
| Proxy Voting: | |||||
| 10. Name of the proxy holder: | |||||
| 11. Number of voting rights proxy holder will ceaseto hold: | |||||
| 12. Date on which proxy holder will cease to holdvoting rights: | |||||
| 13. Additional information: | |||||
| 14. Listed Company Contact name: | Robert Gibber Company Secretary | ||||
| 15. Contact telephone number: | 020 7626 6525 | ||||
Copyright Business Wire 2009
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Tate & Lyle