10th Oct 2011 11:43
TR-1: NOTIFICATION OF MAJOR INTERESTS IN SHARES
1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:
Low & Bonar PLC
2. Reason for the notification (please place an X inside the appropriate bracket/s):
An acquisition or disposal of voting rights: (X)
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: ( )
An event changing the breakdown of voting rights: ( )
Other (please specify): Transfer of voting rights
3. Full name of person(s) subject to the notification obligation:
Hermes Equity Ownership Services Limited and
Hermes Focus Asset Management Limited
4. Full name of shareholder(s) (if different from 3.):
Shares are held by the relevant custodians
5. Date of the transaction (and date on which the threshold is crossed or reached if different):
7 October 2011
6. Date on which issuer notified:
10 October 2011
7. Threshold(s) that is/are crossed or reached
11%
8. Notified details:
A: Voting rights attached to shares
Class/type of shares if possible using the ISIN CODE | Situation previous to the Triggering transaction | |
Number of shares | Number of voting Rights | |
GB0005363014
| 31,707,166 | 31,707,166 |
Resulting situation after the triggering transaction
Class/type of shares if possible using the ISIN CODE | Number of shares | Number of voting rights | % of voting rights | ||
Direct | Indirect | Direct | Indirect | ||
GB0005363014
| N/A | N/A | 32,064,035 | N/A | 11.13614% |
B: Financial Instruments
Resulting situation after the triggering transaction
Type of financial instrument | Expiration Date | Exercise/Conversion Period/ Date | Number of voting rights that may be acquired if the instrument is exercised/ converted. | % of voting rights |
N/A | N/A | N/A | N/A | N/A |
C: Financial Instruments with similar economic effect to Qualifying Financial Instruments
Resulting situation after the triggering transaction
Type of financial instrument | Exercise price | Expiration Date | Exercise/Conversion Period | Number of voting rights instrument refers to | % of voting rights
| ||
Nominal | % | ||||||
N/A | N/A | N/A | N/A | N/A | N/A | N/A | |
Total (A+B+C)
Number of voting rights | % of voting rights |
32,064,035 | 11.13614% |
9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable:
BT Pension Scheme Trustees Limited, as trustee of the BT Pension Scheme ("BTPS") controls Britel Fund Trustees Limited, which is the parent undertaking of Hermes Fund Managers Limited ("HFML"). HFML is the parent undertaking of:
1. Hermes Equity Ownership Services Limited ("HEOS") (voting rights: 1.04643%)*
2. Hermes Focus Asset Management Limited ("HFAM")** as General Partner of the following limited partnerships:
a. Hermes UK Specialist Focus Fund ("HUKSFF") (voting rights: 10.08971%) ***
* This notification is being made in respect of HEOS, which is an indirect holder of shares for the purpose of DTR 5.2.1(h) as a result of control of voting rights in relation to such shares.
** HUKSFF has two general partners; Hermes Investment Management Limited and HFAM. Under the limited partnership agreement for HUKSFF the voting obligations are exercised by HFAM.
Proxy Voting:
10. Name of the proxy holder:
See Comment in Section 9
11. Number of voting rights proxy holder will cease to hold:
See Comment in Section 9
12. Date on which proxy holder will cease to hold voting rights:
See Comment in Section 9
13. Additional information:
14. Contact name:
Matthew Joy, Company Secretary, Low & Bonar PLC
15. Contact telephone number:
0207 535 3184
Related Shares:
LWB.L