26th Mar 2008 10:37
Spirent Communications PLC26 March 2008 TR-1: Notification of Major Interests in Shares 1. Identity of the issuer or the underlying issuer of existing shares towhich voting rights are attached: Spirent Communications plc 2. Reason for notification (yes/no) An acquisition or disposal of voting rights An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached An event changing the breakdown of voting rights Other (please specify): Decrease in the number of total voting rights in Spirent Communications plc resulting from the on-going share buy-back programme X 3. Full name of person(s) subject to notification obligation: (i) Sherborne Investors LP; (ii) Sherborne Investors GP, LLC(iii) Craig L. McKibben; (iv) Gerard L. Eastman, Jr.; and (v) Edward Bramson. 4. Full name of shareholder(s) (if different from 3): Noted below Person named in 3 above Shareholder No of shares (i-iv) Hanover Nominees Limited 130,250,000 ordinary shares (aggregate) (v) (a) Hanover Nominees Limited 130,250,000 ordinary shares (aggregate) (b) Merrill Lynch, Pierce, Fenner & 20,000 ordinary shares Smith, Inc 5. Date of transaction (and date on which the threshold iscrossed or reached if different): March 20, 2008 6. Date on which issuer notified: March 26, 2008 7. Threshold(s) that is/are crossed or reached: (i) Sherborne Investors LP - 17% (aggregate); (ii) Sherborne Investors GP, LLC - 17% (aggregate); (iii) Craig L. McKibben -17% (aggregate); (iv) Gerard L. Eastman, Jr. - 17% (aggregate); and (v) Edward Bramson - 17% (aggregate). Please note, for the purposes of this TR-1 notification, the only entities which have triggered a new notification obligation under the Disclosure andTransparency Rules are those entities noted in 3 above. None of Hayden Investors Partners, LLC, Hayden Investors Partners II, LLC, Sherborne Strategic Fund A, LLC or Sherborne Strategic Fund B, LLC have reached,exceeded or fallen below a relevant threshold as a result of Spirent Communications plc's recent buy-back programme. 8. Notified Details A: Voting rights attached to shares Class/type of Situation previous to the Resulting situation after the triggering transactionshares triggering transaction Number of Number of Number of Number of voting rights Percentage of voting rightsIf possible use shares voting rights sharesISIN code Direct Direct Indirect Direct Indirect Ordinary shares 130,250,000 130,250,000 130,250,000 N/A 130,250,000 N/A 17.03%ISIN: GB0004726096 Ordinary shares 20,000 20,000 20,000 20,000 N/A 0.003% N/AISIN: GB0004726096 B: Financial Instruments Resulting situation after the triggering transaction Type of financial Expiration date Exercise/ No. of voting rights that Percentage ofinstrument conversion period/ may be acquired (if the voting rights date instrument is exercised/ converted) N/A N/A N/A N/A N/A Total (A+B) Number of voting rights Percentage of voting rights 130,270,000 (aggregate) 17.03% 9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectivelyheld, if applicable: Edward Bramson is the managing member and Craig L. McKibben and Gerard L.Eastman, Jr. are members of Sherborne Investors GP, LLC. Sherborne InvestorsGP, LLC is the general partner of Sherborne Investors LP, which is the managingmember of each of the following funds (all of which hold ordinary shares in theissuer through Hanover Nominees Limited): (i) Hayden Investors Partners, LLC (45,685,845 ordinary shares - approximately5.97% -no new individual notification required, see response to 7. above); (ii) Hayden Investors Partners II, LLC (40,844,268 ordinary shares -approximately 5.34% - no new individual notification required, see response to7. above); (iii)Sherborne Strategic Fund A, LLC (29,644,000 ordinary shares - approximately3.88% - no new individual notification required, see response to 7. above); and (iv) Sherborne Strategic Fund B, LLC (14,075,887 ordinary shares - approximately1.84% - no individual notification required, see response to 7. above). Edward Bramson holds 20,000 further shares through Merrill Lynch, Pierce, Fenner& Smith, Inc. Proxy Voting: 10. Name of proxy holder: N/A 11. Number of voting rights proxy holder will cease N/Ato hold: 12. Date on which proxy holder will cease to hold N/Avoting rights: 13. Additional information: N/A 14 Contact name: Craig L. McKibben 15. Contact telephone name: +1 (212) 735 1000 Additional information Contact at Issuer: Michael Anscombe, Company Secretary, Spirent Communications plc Telephone: 01293 767672 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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