2nd Oct 2012 10:36
TR-1: NOTIFICATION OF MAJOR INTERESTS IN SHARES
1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:
Low & Bonar PLC
2. Reason for the notification (please place an X inside the appropriate bracket/s):
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: ( )
An event changing the breakdown of voting rights: ( )
Other (please specify): Change in control of general partner/investment manager of the shareholder
3. Full name of person(s) subject to the notification obligation:
RWC Focus Asset Management Limited
4. Full name of shareholder(s) (if different from 3.):
RWC Specialist UK Focus Fund
5. Date of the transaction (and date on which the threshold is crossed or reached if different):
28 September 2012
6. Date on which issuer notified:
1 October 2012
7. Threshold(s) that is/are crossed or reached
Passing through a percentage point when above 3%
8. Notified details:
A: Voting rights attached to shares
Class/type of shares if possible using the ISIN CODE | Situation previous to the Triggering transaction | |
Number of shares | Number of voting Rights | |
GB0005363014
| See section 9 | See section 9 |
Resulting situation after the triggering transaction
Class/type of shares if possible using the ISIN CODE | Number of shares | Number of voting rights | % of voting rights | ||
Direct | Indirect | Direct | Indirect | ||
GB0005363014 |
| N/A | 18,893,715 | N/A | 6.51% |
B: Financial Instruments
Resulting situation after the triggering transaction
Type of financial instrument | Expiration Date | Exercise/Conversion Period/ Date | Number of voting rights that may be acquired if the instrument is exercised/ converted. | % of voting rights |
N/A | N/A | N/A | N/A | N/A |
C: Financial Instruments with similar economic effect to Qualifying Financial Instruments
Resulting situation after the triggering transaction
Type of financial instrument | Exercise price | Expiration Date | Exercise/Conversion Period | Number of voting rights instrument refers to | % of voting rights
| ||
Nominal | % | ||||||
CFD | N/A | N/A | N/A | N/A | N/A | N/A | |
Total (A+B+C)
Number of voting rights | % of voting rights |
18,893,715 | 6.51% |
9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable:
Effective close of business on 28 September 2012, the ownership of Hermes Focus Asset Management Limited transferred from Hermes Fund Managers Limited to RWC Partners Limited and the legal entity is now known as RWC Focus Asset Management Limited. Pursuant to Directive 2004/109/EC regarding disclosure and transparency rules, by 28 September 2012, the funds managed by Hermes Focus Asset Management Limited held an aggregated position of 6.51% of the issued share capital of Low & Bonar PLC; and, as of close of business of 28 September 2012, this position was held by funds managed by RWC Focus Asset Management Limited, the controlling entity of which is RWC Partners Limited. This change reflects the change in control of the entity rather than the sale and purchase of issued shares.
Proxy Voting:
10. Name of the proxy holder:
N/A
11. Number of voting rights proxy holder will cease to hold:
N/A
12. Date on which proxy holder will cease to hold voting rights:
N/A
13. Additional information:
N/A
14. Contact name:
Matthew Joy, Company Secretary, Low & Bonar PLC
15. Contact telephone number:
0207 535 3180
Related Shares:
LWB.L