29th Jun 2006 17:53
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 informed29TH JUNE 200612. Total holding following this notification21,783,47013. Total percentage holding of issued class following this notification21.04%14. Any additional informationST IVES PLC'S ISSUED SHARE CAPITAL AS AT 29TH JUNE 2006 IS 103,551,005 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 29TH JUNE 2006LETTER TO ST IVES PLC ON SILCHESTER INTERNATIONAL INVESTORS LIMITED HEADEDPAPERCompany SecretaryST IVES PLCSt Ives HouseLavington StreetLondonSE1 0NXFax no.: 020 7902 656629 June 2006Dear Company SecretarySilchester 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 18,591,470Recent 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 3,192,000Our records show that you have the following shares in that class:ST IVES PLC 103,551,005As such, Silchester has an interest over 21.04% of the shares of that classand, of that, two of Silchester's clients control 11.49% 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.The Takeover Panel has advised that Silchester is not required to report itsClients' shareholdings in aggregate with Sanderson for purposes of Rule 8.3 ofthe Takeover Code. Yours faithfully, ALISON RAVENSCROFT Head of 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 103,551,005 Fax No: 0207 902 6566 SII Client Ownership: 18,591,470 Date: 29 June 2006 % of Shares 17.95 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 11,895,291 11.49International 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 908,600 0.88c/o The Bank of Bermuda Limited Trust The Bank of Bermuda Building Company 6 Front Street, Hamilton HM11, Bermuda TOTAL 18,591,470 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 103,551,005 Fax No: 0207 902 6566 SAM Client Ownership: 3,192,000 Date: 29 June 2006 % of Shares 3.08 SAM Account Nominee Sanderson Voting Sanderson % Holding Authority Current Share at Fund Holding Level BUST Northern Trust Co Yes 1,205,000 1.16 CAT Pictet & Cie Yes 73,000 0.07 DYN State Street Yes 45,000 0.04 EUF State Street Yes 255,000 0.25 GOLF Bank of New York Yes 50,000 0.05 GREEN Northern Trust Co Yes 23,000 0.02 GRIT Northern Trust Co Yes 385,000 0.37 INGOT Mellon Trust Yes 99,000 0.10 MINI State Street Yes 151,000 0.15 OCEAN Northern Trust Co Yes 73,000 0.07 OVAL Mellon Trust Yes 107,000 0.10 PEARL Northern Trust Co Yes 30,000 0.03 RAIN Citigroup Yes 75,000 0.07 STAMP Northern Trust Co Yes 52,000 0.05 TIME Bank of New York Yes 18,000 0.02 TRAY Northern Trust Co Yes 317,000 0.31 WHEAT Mellon Trust Yes 98,000 0.09 WINDY Northern Trust Co Yes 69,000 0.07 WOGAN Northern Trust Co Yes 67,000 0.06 TOTAL 3,192,000 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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