21st Oct 2013 10:16
On 18 October 2013 Tesco PLC received the following notification from Berkshire Hathaway Inc. of its interests in the Company as of 16 October 2013.
TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi |
1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached: ii | 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 thenotification obligation: iii | Berkshire Hathaway Inc. | |||
4. Full name of shareholder(s) (if different from 3.):iv | 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 onwhich the threshold is crossed orreached: v | 16 October 2013 | |||
6. Date on which issuer notified: | 18 October 2013 | |||
7. Threshold(s) that is/are crossed orreached: vi, vii | 4% | |||
8. Notified details: | ||||||||||||||||
A: Voting rights attached to shares viii, ix | ||||||||||||||||
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 x | ||||||||||||
Direct | Direct xi | Indirect xii | Direct | Indirect | ||||||||||||
GB0008847096 | 257,443,328 | 257,443,328 | 257,443,328 | 257,443,328 | 0 | 3.18 | 0 | |||||||||
B: Qualifying Financial Instruments | ||||||||||||||||
Resulting situation after the triggering transaction | ||||||||||||||||
Type of financialinstrument | Expirationdate xiii | Exercise/Conversion Period xiv | Number of votingrights that may beacquired if theinstrument isexercised/ converted. | % of votingrights | ||||||||||||
C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi | ||||||||||||||||
Resulting situation after the triggering transaction | ||||||||||||||||
Type of financialinstrument | Exercise price | Expiration date xvii | Exercise/Conversion period xviii | Number of voting rights instrument refers to
| % of voting rights xix, xx
| |||||||||||
Cash Settled Equity Swap | $4.5732 (US Dollars) per share | 16 January 2015 | N/A | 64,034,283 | Nominal | Delta | ||||||||||
0.80 | 0.80 | |||||||||||||||
Total (A+B+C) | ||||||||||||||||
Number of voting rights | Percentage of voting rights | |||||||||||||||
321,477,611 | 3.98 | |||||||||||||||
9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable: xxi | ||
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 64,034,283 voting rights | ||
Proxy Voting: | ||
10. Name of the proxy holder: | ||
11. Number of voting rights proxy holder will ceaseto hold: | ||
12. Date on which proxy holder will cease to holdvoting 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