19th Jan 2010 09:31
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: ( X)
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): ( )
3. Full name of person(s) subject to the notification obligation:
BT Pension Scheme Trustees Limited as trustee of the BT Pension Scheme (see section 9 for further information)
4. Full name of shareholder(s) (if different from 3.) :
Hermes Specialist UK Focus Fund
5. Date of the transaction (and date on which the threshold is crossed or reached if different):
15 January 2010
6. Date on which issuer notified:
18 January 2010
7. Threshold(s) that is/are crossed or reached
16%
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 |
|
Ord 5p GB0005363014 0536301 |
45,928,201 |
45,928,201 |
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 |
Direct |
Indirect |
Direct |
Indirect |
|
GB0005363014 0536301 |
0 |
0 |
47,377,764 |
0 |
16.456% |
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 rightsNominalDelta |
|
N/A |
N/A |
N/A |
N/A |
N/A |
N/A |
Total (A+B+C)
|
Number of voting rights |
% of voting rights |
|
47,377,764 |
16.456 |
9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable:
|
BT Pension Scheme Trustees Limited is the parent undertaking of Britel Fund Trustees Limited, which is the parent undertaking of Hermes Fund Managers Limited. Hermes Fund Managers Limited is the parent undertaking of: Hermes Equity Ownership Services Limited (voting rights held in this issuer: 0.643%) Hermes Investment Management Limited (voting rights held in this issuer: 0%) Hermes Focus Asset Management Limited (voting rights held in this issuer: 15.813%) Please see Section 13 for further information. |
Proxy Voting:
10. Name of the proxy holder:
See Comment in Section 13
11. Number of voting rights proxy holder will cease to hold:
See Comment in Section 13
12. Date on which proxy holder will cease to hold voting rights:
See Comment in Section 13
13. Additional information:
Hermes Equity Ownership Services Limited hold the voting rights under a standing proxy contained in agreements for the provision of voting services to various underlying clients for the purposes of DTR 5.2.1 (h), which includes all the shares owned directly by BT Pension Scheme.
Hermes Investment Management Limited holds the voting rights under a standing proxy contained in investment management agreements with various underlying clients for the purposes of DTR 5.2.1(h).
Hermes Focus Asset Management Limited holds the voting rights as General Partner under a standing proxy contained in limited partnership agreements with various limited partnerships.
All voting rights held on behalf of the above entities are aggregated for the purposes of DTR 5.2.1(e).
This disclosure is made by BT Pension Scheme Trustees Limited, which is the ultimate parent undertaking for the purposes of DTR 5.2.1(e).
14. Contact name:
Matthew Joy, Company Secretary, Low & Bonar plc
15. Contact telephone number:
0207 535 3180
Related Shares:
LWB.L