19th Jan 2012 11:57
Tesco PLC has today been notified that the interest of Berkshire Hathaway Inc in Tesco PLC shares has increased from 3.21% to 5.08% as of 13 January 2012. Details of the notifications received by the company are set out below:
TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES |
1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: |
Tesco PLC |
2 Reason for the notification (please tick the appropriate box or boxes): | ||
An acquisition or disposal of voting rights | ||
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached | ||
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments | X | |
An event changing the breakdown of voting rights | ||
Other (please specify): |
| |
3. Full name of person(s) subject to the notification obligation:
|
Berkshire Hathaway Inc. |
4. Full name of shareholder(s) (if different from 3.):
| The following indirect wholly-owned subsidiaries of Berkshire Hathaway Inc. hold voting rights; Government Employees Insurance Company; General Reinsurance Corporation; General Reinsurance AG; National Fire & Marine Insurance Company; National Indemnity Insurance Company; U.S Underwriters Insurance Company; and Medical Protective Company |
5. Date of the transaction and date on which the threshold is crossed or reached:
| 12 January 2012 |
6. Date on which issuer notified:
| 18 January 2012 |
7. Threshold(s) that is/are crossed or reached:
| 4% |
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 | |||
GB0008847096 | 257,443,328 | 257,443,328 | 257,443,328 | 257,443,328 | 0 | 3.21 | 0 |
B: Qualifying Financial Instruments | ||||
Resulting situation after the triggering transaction
| ||||
Type of financialinstrument | Expirationdate | Exercise/ConversionPeriod | 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 | Exerciseprice | Expirationdate | Exercise/Conversionperiod | Number of votingrights instrumentrefers to | % of voting rights
| |
Cash Settled Equity Swap | $5.4043 (US Dollars) per share | 16 January 2015 | N/A | 130,417,561 | Nominal | Delta
|
1.63 | 1.63 | |||||
Total (A+B+C)
| |
Number of voting rights | Percentage of voting rights |
387,860,889 | 4.84 |
9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: |
The following indirect wholly-owned subsidiaries own shares with voting rights: Government Employees Insurance Company (90,000,000) General Reinsurance Corporation (72,862,000) General Reinsurance AG (30,136,328) National Fire & Marine Insurance Company (30,606,000) National Indemnity Company (22,883,000) U.S Underwriters Insurance Company (5,807,000) Medical Protective Company (5,149,000)
In addition National Indemnity holds financial instruments with similar economic effect to qualifying financial instruments related to 130,417,561 voting rights.
|
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:
| Marc D. Hamburg |
15. Contact telephone number:
| 1-402-346-1400 (United States of America |
TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES |
1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: |
Tesco PLC |
2 Reason for the notification (please tick the appropriate box or boxes): | ||
An acquisition or disposal of voting rights | ||
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached | ||
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments | X | |
An event changing the breakdown of voting rights | ||
Other (please specify): |
| |
3. Full name of person(s) subject to the notification obligation:
|
Berkshire Hathaway Inc. |
4. Full name of shareholder(s) (if different from 3.):
| The following indirect wholly-owned subsidiaries of Berkshire Hathaway Inc. hold voting rights; Government Employees Insurance Company; General Reinsurance Corporation; General Reinsurance AG; National Fire & Marine Insurance Company; National Indemnity Insurance Company; U.S Underwriters Insurance Company; and Medical Protective Company |
5. Date of the transaction and date on which the threshold is crossed or reached:
| 13 January 2012 |
6. Date on which issuer notified:
| 18 January 2012 |
7. Threshold(s) that is/are crossed or reached:
| 5% |
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 | |||
GB0008847096 | 257,443,328 | 257,443,328 | 257,443,328 | 257,443,328 | 0 | 3.21 | 0 |
B: Qualifying Financial Instruments | ||||
Resulting situation after the triggering transaction
| ||||
Type of financialinstrument | Expirationdate | Exercise/ConversionPeriod | 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 | Exerciseprice | Expirationdate | Exercise/Conversionperiod | Number of votingrights instrumentrefers to | % of voting rights
| |
Cash Settled Equity Swap | $5.3335 (US Dollars) per share | 16 January 2015 | N/A | 150,117,561 | Nominal | Delta
|
1.87 | 1.87 | |||||
Total (A+B+C)
| |
Number of voting rights | Percentage of voting rights |
407,560,889 | 5.08 |
9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: |
The following indirect wholly-owned subsidiaries own shares with voting rights: Government Employees Insurance Company (90,000,000) General Reinsurance Corporation (72,862,000) General Reinsurance AG (30,136,328) National Fire & Marine Insurance Company (30,606,000) National Indemnity Company (22,883,000) U.S Underwriters Insurance Company (5,807,000) Medical Protective Company (5,149,000)
In addition National Indemnity Company holds financial instruments with similar economic effect to qualifying financial instruments related to 150,117,561 voting rights.
|
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:
| Marc D. Hamburg |
15. Contact telephone number:
| 1-402-346-1400 (United States of America |
Related Shares:
Tesco