22nd Feb 2005 16:41
Sainsbury(J) PLC22 February 2005 J Sainsbury plc J Sainsbury plc received notification today that the Trustees of the GatsbyCharitable Foundation have decreased their reportable interest in the Company. As a result the reportable interest held by Judith Portrait has decreased to 21per cent instead of 23 percent as previously reported. Christopher Stone andAndrew Cahn have decreased their holding and no longer hold a reportableinterest in the Company. Enquiries: Investor Relations Media+44 (0) 20 7695 7162 +44 (0) 20 7695 6127Lynda Ashton Pip Wood End For information purposes, notes received from the Gatsby Charitable Foundationare attached 1. Share sale The Trustees of the Gatsby Charitable Foundation ("the Foundation") havenotified J Sainsbury plc that they have sold 45 million shares from theirholding of the Company's shares. This share sale has been made in accordancewith the Foundation's established practice of ensuring that it has sufficientliquid funds to meet its grant-making obligations at the time that it makesgrants. The Foundation has a continuing grant-making programme and is todayannouncing the decision in principle to make a major donation of approximately£45 million to Cambridge University for the establishment of a new Institute forthe study of plant diversity and development. This is in addition to itscontinuing support for the Sainsbury Laboratory for the study of plant molecularpathology at the John Innes Institute in Norwich. As a result of this transaction, the liquid funds available to the Foundation tosupport grants will increase by approximately £130 million. A copy of theTrustees' formal notification of changes to their interests in the Company'sshare capital is attached to this announcement: as a result of the sale each ofthe Trustees' holdings has reduced by approximately 3 per cent. 2. The Gatsby Charitable Foundation The Foundation was created by Lord Sainsbury of Turville in 1967 andis one of 20 Sainsbury family charitable trusts which share an administrativeoffice. Since its creation, the Foundation has made grants of more than £400million and has committed to future donations of more than £100 million. The Foundation makes grants within the following categories:- * technical education - grants paid 2000 to 2004 - £39 million * plant science - grants paid 2000 to 2004 - £19 million * cognitive neuroscience - grants paid 2000 to 2004 - £7 million * mental health - grants paid 2000 to 2004 - £13 million * disadvantaged children - grants paid 2000 to 2004 - £19 million * local economic renewal - grants paid 2000 to 2004 - £2 million * Africa - grants paid 2000 to 2004 - £14 million * the arts - grants paid 2000 to 2004 - £12 million * economic and social research - grants paid 2000 to 2004 - £4 million Within these categories, the Foundation makes grants for projectswhich it judges to have particular merit. Many of the grants are for projectswhich the Foundation has helped to initiate and has supported for many years.Generally, Gatsby does not make grants in response to unsolicited applicationsnor to individuals. While Lord Sainsbury remains a Government Minister, he does notparticipate in the grant-making decisions of Gatsby. 3. The new Institute for the study of plant diversity and development The proposal envisages a significant international centre with ascientific focus on the mechanisms of plant development and the diversity ofbiological forms that this development naturally creates. This is a naturalprogression of the Foundation's interest and track record in this area. Inparticular, in 1987 the Foundation established the Sainsbury Laboratory forPlant Molecular Pathology at the John Innes Centre in Norwich. The Laboratoryhas subsequently established itself as one of the world's leading researchcentres for plant disease. Enquiries: Gatsby Charitable Foundation Michael Pattison, Director 020 7410 0330 University of Cambridge Peter Agar, Development Director 01223 333 161/2 NOTICE TO J SAINSBURY PLC Judith Portrait, Christopher Stone and Andrew Cahn hereby notify J Sainsbury plc("the Company") the following changes to their interests in shares ("relevantshares") comprised in the relevant share capital of the Company (within themeaning of Section 198, Companies Act 1985):- (i) as joint Trustees of a charitable trust known as the GatsbyCharitable Foundation they have sold 45,000,000 shares in the Company which willresult in a reduction from 87,517,867 to 42,517,867 of the number of relevantshares subject to the charitable trust. Prior to the sale, Judith Portrait andChristopher Stone were the registered holders, as Trustees, of such 87,517,867shares in the Company; (ii) none of the interests of Judith Portrait, Christopher Stone or AndrewCahn in the 42,517,867 shares referred to in (i) above are interests by virtueof Section 208(5), Companies Act 1985; and (iii) following the sale mentioned in (i) above, including the 42,517,867relevant shares in which they continue to be jointly interested as mentioned in(i) above, each of them is interested, in all capacities, in approximately thefollowing numbers of relevant shares:- Judith Portrait - 21% (358,151,559 shares in aggregate) Christopher Stone - Under 3% Andrew Cahn - Under 3% This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Sainsbury's