1st Aug 2005 16:52
SCHEDULE 10 NOTIFICATION OF MAJOR INTERESTS IN SHARES 1. Name of companyST IVES PLC2. Name of shareholder having a major interestSILCHESTER INTERNATIONAL INVESTORS LIMITED3. Please state whether notification indicates that it is in respect of holdingof the shareholder named in 2 above or in respect of a non-beneficial interestor in the case of an individual holder if it is a holding of that person'sspouse or children under the age of 18PLEASE SEE ATTACHED NOTIFICATION4. Name of the registered holder(s) and, if more than one holder, the number ofshares held by each of themPLEASE SEE ATTACHED NOTIFICATION5. Number of shares/amount of stock acquiredN/A6. Percentage of issued classN/A7. Number of shares/amount of stock disposedN/A8. Percentage of issued classN/A9. Class of securityORDINARY SHARES OF 10P EACH10. Date of transactionN/A11. Date company informed1stAugust 200512. Total holding following this notification19,751,99713. Total percentage holding of issued class following this notification19.09%14. Any additional informationST IVES PLC'S ISSUED SHARE CAPITAL AS AT 1STAUGUST 2005 IS 103,502,361 ORDINARYSHARES OF 10P EACH15. Name of contact and telephone number for queriesPHILIP HARRIS TELEPHONE: 020 7928 884416. Name and signature of authorised company official responsible for makingthis notificationPHILIP HARRIS, COMPANY SECRETARY, ST IVES PLCDate of notification 1STAUGUST 2005LETTER TO ST IVES PLC ON SILCHESTER INTERNATIONAL INVESTORS LIMITED HEADEDPAPERCompany SecretarySt Ives plcSt Ives HouseLavington StreetLondonSE1 0NXFax no.: 020 7902 65661st August 2005Dear Sir,Silchester International Investors Limited ("Silchester") acts as an InvestmentManager for a number of commingled funds ("our Clients"). In acting for ourClients, we are given full discretion over their investments, and are empoweredto vote on their behalf. However, we do not act as their Custodian andtherefore shares are not held in our name, but in the nominee name of ourClients' Custodian bank.In addition, Silchester holds 49.9% of the issued share capital of SandersonAsset Management Limited ("Sanderson") a UK limited company that also acts asInvestment Manager for a number of commingled funds and separate accounts. Inacting for its clients, Sanderson are given full discretion over theirinvestments, and are empowered to vote on their behalf. However, Sanderson donot act as its clients' Custodian and therefore shares are not held inSanderson's name, but in the nominee name of Sanderson's clients' Custodianbank.Silchester's share ownership in Sanderson does not allow Silchester to exerciseany direct or indirect control over Sanderson's investment strategy, philosophyor implementation, the investments that Sanderson may purchase or sell onbehalf of its clients, or the manner in which Sanderson may vote proxies thatarise from its client investments. However, Silchester is deemed to have an`interest' in shares that Sanderson controls by virtue of Section 203(2)(b) ofthe Companies Act 1985.Recent purchases/sales of shares in your company by Silchester on behalf of itsclients, have resulted in Silchester having an interest in the following shares(also see attached):SILCHESTER 18,441,497Recent purchases/sales of shares in your company by Sanderson on behalf of itsclients, have resulted in Sanderson having an interest in the following shares,and Silchester having an interest over the same shares for the purposes ofSection 203(2)(b) of the Companies Act 1985 (also see attached):SANDERSON 1,310,500Our records show that you have the following shares in that class:ST IVES PLC 103,481,071As such, Silchester has an interest over 19.09% of the shares of that classand, of that, two of Silchester's clients control 11.51% and 4.8%. Thisinterest is being notified in fulfillment of the obligations imposed by Section198-202 of the Companies Act 1985. Silchester does not have an interestmentioned in Section 208(5) of the Companies Act 1985 in any of the shares towhich this notification relates.Please note that the Takeover Panel has advised Silchester that it is notrequired to report its Clients' shareholdings in aggregate with Sanderson forpurposes of the SARs. In addition, the Takeover Panel has advised thatSilchester is not required to report its Clients' shareholding in aggregatewith Sanderson for purposes of Rule 8.3 of the Takeover Code. Yours faithfully, ALISON RAVENSCROFT Dealing SILCHESTER INTERNATIONAL INVESTORS LIMITED - CLIENT OWNERSHIP Company: ST IVES PLC Attention: Company Secretary Share Class: Address: St Ives House ORDINARY Lavington Street London Issued Shares: SE1 0NX 103,481,071 Fax No: 0207 902 6566 SII Client Ownership: 18,441,497 Date: 1st August 2005 % of Shares 17.82 SII Account Nominee Silchester Silchester % Voting Current Holding Authority Share at Fund Holding Level Silchester International Investors Northern YES 4,968,150 4.80International Value Equity Group Trust Trust Company c/o Silchester International Investors, Inc. 780 Third Avenue, 42nd Floor, New York, New York 10017 Silchester International Investors Northern YES 819,429 0.79Tobacco Free International Value Trust Equity Trust Company c/o Silchester International Investors, Inc. 780 Third Avenue, 42nd Floor, New York, New York 10017 Silchester International Investors Northern YES 11,911,156 11.51International Value Equity Trust Trust c/o Silchester International Company Investors, Inc. 780 Third Avenue, 42nd Floor, New York, New York 10017 The Calleva Trust Northern YES 742,762 0.72c/o The Bank of Bermuda Limited Trust The Bank of Bermuda Building Company 6 Front Street, Hamilton HM11, Bermuda TOTAL 18,441,497 Please refer to the following page for information on Sanderson AssetManagement Limited's ("Sanderson's") client holdings. Under the terms ofSanderson's privacy policy, the names, addresses, or other identifyinginformation of Sanderson's client accounts are not shared with Silchesteremployees. SANDERSON ASSET MANAGEMENT - CLIENT OWNERSHIP Company: ST IVES PLC Attention: Company Secretary Share Class: Address: St Ives House ORDINARY Lavington Street London Issued Shares: SE1 0NX 103,481,071 Fax No: 0207 902 6566 SAM Client Ownership: 1,310,500 Date: 1st August 2005 % of Shares 1.27 SAM Account Nominee Sanderson Voting Sanderson % Holding Authority Current Share at Fund Holding Level BUST Northern Trust Co Yes 489,500 0.47 CAT Pictet & Cie Yes 26,500 0.03 DYN State Street Yes 20,000 0.02 EUF State Street Yes 67,500 0.07 GOLF Bank of New York Yes 22,500 0.02 GRIT Northern Trust Co Yes 182,000 0.18 INGOT Mellon Trust Yes 47,500 0.05 IVF State Street Yes 20,000 0.02 MINI State Street Yes 72,000 0.07 OCEAN Northern Trust Co Yes 24,500 0.02 OVAL Mellon Trust Yes 51,000 0.05 PEARL Northern Trust Co Yes 13,500 0.01 RAIN Citigroup Yes 35,500 0.03 STAMP Northern Trust Co Yes 23,500 0.02 TIME Bank of New York Yes 8,000 0.01 TRAY Northern Trust Co Yes 128,000 0.12 WHEAT Northern Trust Co Yes 46,500 0.04 WINDY Northern Trust Co Yes 32,500 0.03 TOTAL 1,310,500 Under the terms of Sanderson Asset Management Limited's ("Sanderson's") privacypolicy, the names, addresses, or other identifying information of Sanderson'sclient accounts are not shared with Silchester employees.ENDST IVES PLCRelated Shares:
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