8th May 2007 09:51
Xchanging PLC08 May 2007 TR-1: Notification of major interests in shares 1. Identity of the issuer or the underlying issuer of existing Xchanging plcshares to which voting rights are attached: (Company number: 589018)2. Reason for the notification (please tick the appropriate box or boxes) An acquisition or disposal of voting rights Yes An acquisition or disposal of financial instruments which may result in the acquisition ofshares already issued to which voting rights are attached An event changing the breakdown of voting rights Other (please specify):___________________________________________ 3. Full name of person(s) subject to the notification General Atlantic Partners (Bermuda)obligation: Limited General Atlantic, LLC GAP-Xchange Partners, LLC GAPCo Management GmbH GAP Coinvestment Partners, L.P. GAP Coinvestment Partners II, L.P. 4. Full name of shareholder(s) (if different from 3.): GAP-W International, L.P. General Atlantic Partners (Bermuda), L.P. GAPstar, LLC General Atlantic Partners 55, L.P. GAP-Xchange Partners, LLC, SCA GAP Coinvestment Partners, L.P. GAP Coinvestment Partners II, L.P. GAPCo GmbH & Co. KG5. Date of the transaction (and date on which the threshold is 3 May 2007crossed or reached if different): 6. Date on which issuer notified: 4 May 2007 7. Threshold(s) that is/are crossed or reached: See section 8A below 8. Notified details: A: Voting rights attached to shares Class/type of Situation previous to Resulting situation after the triggering transactionshares the Triggering transaction if possible Number of Number of Number of Number of voting rights % of voting rightsusing the ISIN Shares Voting sharesCODE Rights Direct Direct Indirect Direct IndirectSee Addendum I(attached) B: Financial InstrumentsResulting situation after the triggering transactionType of financial Expiration date Exercise/ Conversion Number of voting rights % of votinginstrument Period/ Date that may be acquired if rights the instrument is exercised/ converted. Total (A+B)Number of voting rights % of voting rights57,323,080 27.88 9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable : a) On 3 May 2007, by sales made pursuant to the exercise of the over-allotment option contained in an underwriting agreement dated 25 April 2007: i) General Atlantic Partners (Bermuda) L.P.'s direct holding of voting rights in Xchanging plc reduced from 39,230,231 voting rights (19.08%) to 33,159,704 voting rights (16.13%); ii) GAP-Xchange Partners, LLC, SCA's direct holding of voting rights in Xchanging plc reduced from 10,091,524 voting rights (4.91%) to 7,544,081 voting rights (3.67%); and iii) each of the General Atlantic entities set out in section 4 above (other than General Atlantic Partners (Bermuda) L.P. and GAP-Xchange Partners, LLC, SCA) reduced, in aggregate, their direct holdings of the voting rights of Xchanging plc by 4,010,061 voting rights (1.95%) but not individually so as to trigger an obligation of disclosure under the Disclosure and Transparency Rules; b) On 3 May 2007, by dispositions (for nil consideration) as permitted by the underwriting agreement referred to in paragraph (a) above, GAP Coinvestment Partners, L.P. and GAP Coinvestment Partners II, L.P. reduced their direct holdings of voting rights of Xchanging plc by 550,912 voting rights (0.27%) but not individually so as to trigger an obligation of disclosure under the Disclosure and Transparency Rules; c) General Atlantic Partners (Bermuda) Limited is the general partner of both GAP-W International, L.P. and General Atlantic Partners (Bermuda) L.P; d) General Atlantic, LLC is the general partner of both GAPstar, LLC and General Atlantic Partners 55, L.P; e) GAP-Xchange Partners, LLC is the general partner of GAP-Xchange Partners, LLC & Company, SCA which itself has a controlling interest in GAP-Xchange Partners, LLC, SCA; f) GAPCo Management GmbH is the general partner of GAPCo GmbH & Co. KG; and g) by the sales and dispositions described in sections 9(a) and (b) above, each of General Atlantic Partners (Bermuda) Limited, General Atlantic, LLC, GAP-Xchange Partners, LLC, GAP Coinvestment Partners, L.P., GAP Coinvestment Partners II, L.P. and GAPCo Management GmbH's indirect holdings of the voting rights of Xchanging plc reduced from 34.29% to 27.88%. Proxy Voting: 10. Name of the proxy holder: 11. Number of voting rights proxy holder will cease to hold: 12. Date on which proxy holder will cease to hold voting rights: 13. Additional information: By virtue of arrangements in place between the General Atlantic entities referred to in sections 3 and 4 above as regards the manner in which the voting rights in Xchanging plc directly held by the entities referred to in section 4 above are exercised, each of the entities referred to in section 9(g) above is indirectly interested in the aggregate number of the voting rights so directly held. In accordance with DTR 5.2.5R, General Atlantic Partners (Bermuda) Limited is making this notification on behalf of all the entities referred to in section 3 above. 14. Contact name: Chris Lanning 15. Contact telephone number: 001 203 629 8640 ADDENDUM I A: Voting rights attached to sharesClass/type of Situation previous to Resulting situation after the triggering transactionshares the triggeringIf possible transactionusing the ISIN CODE Number of Number of Number of Number of voting rights % of voting rights Shares Shares voting rights Direct Direct Indirect Direct IndirectOrdinary General Atlanticshares of 5 Partnerspence each (Bermuda) Limited 70,502,023 70,502,023 57,323,080 27.88 General Atlantic Partners (Bermuda), L.P. 39,230,231 39,230,231 33,159,704 33,159,704 16.13 General Atlantic, LLC 70,502,023 70,502,023 57,323,080 27.88 GAP-Xchange Partners, LLC 70,502,023 70,502,023 57,323,080 27.88 GAP-Xchange Partners, LLC, SCA 10,091,524 10,091,524 7,544,081 7,544,081 3.67 GAPCo Management GmbH 70,502,023 70,502,023 57,323,080 27.88 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
XCH.L