3rd May 2005 11:41
Man Financial Limited03 May 2005 Date Of Disclosure: 03/05/05 Fax to 020 7256 9386 (Take Over Panel) and 020 7588 6057 (RNS) FORM 8.1/8.3 Lodge with a RIS or Newstrack and the Takeover Panel. Use separate form for each class of securities in which dealings have been made. DISCLOSURE UNDER RULES 8.1(a), 8.1(b)(i) AND 8.3 OF THE CITY CODE ON TAKEOVERS AND MERGERS Date of dealing 29/04/05 (1) Name of Company Dealing in UK Coal PLC Class of securities ORDINARY SHARES (2) Amount Bought Amount Sold Price (GBP) 6000 1.2250 In addition, Man Financial Ltd have entered into CFD and Spread Betting arrangements with its clients which are detailed below. (3) Resultant total of the same class owned or controlled and percentage of class 2,444,500 1.67% (4) Party making disclosure MAN FINANCIAL LIMITED (5) Name of purchaser/vendor (Note1) MAN FINANCIAL LIMITED (6) Reason for disclosure (Note 2) (a) Associate of (i) offeror (Note 3) - NO (b) (i) offeree Company - NO Specify which category or categories of associate (1-8 overleaf) If category (8), explain Rule 8.3 (i.e. disclosure because of ownership or control of 1% or more of the class of relevant securities dealt in) - YES Signed, for and on behalf of the party named in (4) above Stewart Horner Telephone and extension number 020-7144-4201 Note 1. Specify owner, not nominee or vehicle company. If relevant, alsoidentify controller of owner, e.g. where an owner normally acts oninstructions of a controller. Note 2. Disclosure might be made for more than one reason; if so, state allreasons. Note 3. Specify which offeror if there is more than one. Note 4. When an arrangement exists with any offeror, with the offeree companyor with an associate of any offeror or of the offeree company in relation torelevant securities, details of such arrangement must be disclosed, as required by Note 6 on Rule 8. Note 5. It may be necessary, particularly when disclosing derivativetransactions, to append a sheet to this disclosure form so that all relevantinformation can be given. Note 6. In the case of an average price bargain, each underlying trade shouldbe disclosed For full details of disclosure requirements, see Rule 8 of the Code. If indoubt, contact the Panel on Takeovers and Mergers, Monitoring Section, Tel.No: 020 7638 0129. E-mail:[email protected] NOTES REGARDING DISCLOSURE Man Financial Ltd ("MAN") is the beneficial owner of 2,444,500 Ordinary Sharesin the above company which are held to hedge CFD & Spread Betting positions(see below) established between MAN and its clients. A Contract for Difference or CFD is an agreement between two parties toexchange, at the close of the contract, the difference between the openingprice and the closing price, multiplied by the number of reference sharesspecified within the contract. The 'reference shares' are the underlyingshares specified in the CFD. The economic performance of the CFD is determinedby the performance of the underlying reference shares. Although CFDs replicatethe price movement of the underlying reference shares, they convey no right orrequirement to acquire or deliver the physical shares. The contract value of a CFD is defined as the number of reference sharesspecified in the contract, multiplied by the price of the underlying referenceshare. If a client of Man takes a long position, the client will make a profitif the contract value increases. Conversely, if a client of Man takes a short position, the client will benefitif the contract value falls. The CFD contracts detailed below are open-ended and without predeterminedexpiry/close value A Spread Bet is a product whereby the client to whom the product is sold canrealise a gain or a loss depending on whether the price of the underlyingsecurity increases above or falls below the reference price. A client's Spreadbet position is described the client's "stake". A "stake" is expressed inpounds (sterling) per "point" and a "point" is the price in pence of theunderlying shares. A client with a "stake" of £100 per point will make a gain of £100 for everypenny increase in the underlying shares and the client has an exposureequivalent to 10,000 shares. DEFINITION OF ASSOCIATE It is not practicable to define associate in terms which would cover all thedifferent relationships which may exist in an offer. The term associate is intended to cover all persons (whether or not acting inconcert) who directly or indirectly own or deal in the shares of an offeror orthe offeree company in an offer and who have (in addition to their normalinterests as shareholders) an interest or potential interest, whether commercial, financial or personal, in the outcome of the offer. Without prejudice to the generality of the foregoing, the term associate willnormally include the following:- (1) an offeror's or the offeree company's parent, subsidiaries and fellowsubsidiaries, and their associated companies, and companies of which suchcompanies are associated companies (for this purpose ownership or control of 20% or more of the equity share capital of a company is regarded as the test ofassociated company status); (2) banks and financial and other professional advisers (includingstockbrokers)* to an offeror, the offeree company or any company covered in(1), including persons controlling#, controlled by or under the same control assuch banks, financial and other professional advisers; (3) the directors (together with their close relatives & related trusts) of anofferor, the offeree company or any company covered in (1); (4) the pension funds of an offeror, the offeree company or any companycovered in (1); (5) any investment company, unit trust or other person whose investments anassociate manages on a discretionary basis, in respect of the relevantinvestment accounts; (6) a person who owns or controls 5% or more of any class of relevantsecurities (as defined in paragraphs (a) to (d) in Note 2 on Rule 8) issued byan offeror or an offeree company, including a person who as a result of anytransaction owns or controls 5% or more. When two or more persons act pursuantto an agreement or understanding (formal or informal) to acquire or controlsuch securities, they will be deemed to be a single person for the purpose ofthis paragraph. Such securities managed on a discretionary basis by aninvestment management group will, unless otherwise agreed by the Panel, also bedeemed to be those of a single person (see Note 8 on Rule 8); and (7) a company having a material trading arrangement with an offeror or theofferee company. Paragraphs (1)-(7) are typical cases. Paragraph (8) below is acategory to cover associate status not within (1)-(7). (8) Other. CFDs CLOSED OUT PRODUCT NAME POS. OPEN OPEN DATE CLOSE UK Coal PLC LONG CFD -30000 1.2900 17/02/05 1.2550 UK Coal PLC LONG CFD -20000 1.2900 17/02/05 1.2700 UK Coal PLC SHORT CFD 6000 1.2900 17/02/05 1.2250 CFD OPEN INTEREST PRODUCT NAME EXECUTED MAN FIN Ref Shares PRICE LTD (GBP) UK Coal PLC LONG CFD 22/04/ SALE 10,000 1.4100 05 UK Coal PLC LONG CFD 22/04/ SALE 3,000 1.4000 05 UK Coal PLC LONG CFD 22/04/ SALE 20,000 1.4100 05 UK Coal PLC LONG CFD 19/04/ SALE 160,000 1.3450 05 UK Coal PLC LONG CFD 15/04/ SALE 5,000 1.3750 05 UK Coal PLC LONG CFD 14/04/ SALE 10,000 1.3700 05 UK Coal PLC LONG CFD 13/04/ SALE 240,000 1.3150 05 UK Coal PLC LONG CFD 07/04/ SALE 125,000 1.3800 05 UK Coal PLC LONG CFD 07/04/ SALE 10,000 1.3500 05 UK Coal PLC LONG CFD 06/04/ SALE 30,000 1.3750 05 UK Coal PLC LONG CFD 06/04/ SALE 10,000 1.3775 05 UK Coal PLC LONG CFD 06/04/ SALE 285,000 1.3650 05 UK Coal PLC LONG CFD 05/04/ SALE 25,000 1.2575 05 UK Coal PLC LONG CFD 04/03/ SALE 25,000 1.1950 05 UK Coal PLC LONG CFD 03/03/ SALE 50,000 1.1700 05 UK Coal PLC LONG CFD 28/02/ SALE 15,000 1.3400 05 UK Coal PLC LONG CFD 28/02/ SALE 15,000 1.3400 05 UK Coal PLC LONG CFD 28/02/ SALE 10,000 1.3400 05 UK Coal PLC LONG CFD 17/02/ SALE 1,331,500 1.2900 05 UK Coal PLC LONG CFD 12/01/ SALE 10,000 1.4100 05 UK Coal PLC LONG CFD 06/12/ SALE 25,000 1.3700 04 UK Coal PLC LONG CFD 02/12/ SALE 25,000 1.3800 04 UK Coal PLC LONG CFD 30/11/ SALE 5,000 1.3400 04 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Harworth Gp