26th Apr 2005 11:19
Man Financial Limited26 April 2005 Date Of Disclosure: 26/04/05 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 CODEON TAKEOVERS AND MERGERS Date of dealing 25/04/05 (1) Name of Company Dealing in UK Coal PLC Class of securities ORDINARY SHARES (2) Amount Bought Amount Sold Price (GBP) 50000 1.4100 10000 1.3800 10000 1.3800 10000 1.3850 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 2,580,500 1.77% (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 all reasons. 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 2,580,500 OrdinaryShares in the above company which are held to hedge CFD & Spread Bettingpositions (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 underlying sharesspecified in the CFD. The economic performance of the CFD is determined by theperformance of the underlying reference shares. Although CFDs replicate theprice movement of the underlying reference shares, they convey no right orrequirement to acquire or deliver the physical shares. The contract value of aCFD is defined as the number of reference shares specified in the contract,multiplied by the price of the underlying reference share. If a client of Mantakes a long position, the client will make a profit if 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-endedand without predetermined expiry/close value A Spread Bet is a product wherebythe client to whom the product is sold can realise a gain or a loss dependingon whether the price of the underlying security increases above or falls belowthe reference price. A client's Spread bet position is described theclient's "stake". A "stake" is expressed in pounds (sterling) per "point" and a"point" is the price in pence of the underlying shares. A client with a"stake" of £100 per point will make a gain of £100 for every penny increase inthe underlying shares and the client has an exposure equivalent 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 isintended to cover all persons (whether or not acting in concert) who directly or indirectly own or deal in the shares of an offeror or the offeree company inan offer and who have (in addition to their normal interests 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 company covered in (1); (5) any investment company, unit trust or other person whose investments anassociate manages on a discretionary basis, in respect of the relevant investment 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) issuedby an 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 actpursuant to an agreement or understanding (formal or informal) to acquire orcontrol such securities, they will be deemed to be a single person for thepurpose of this paragraph. Such securities managed on a discretionary basisby an investment management group will, unless otherwise agreed by the Panel,also be deemed to be those of a single person (see Note 8 on Rule 8); and (7) a company having a material trading arrangement withan offeror or the offeree company. Paragraphs (1)-(7) are typical cases.Paragraph (8) below is a category to cover associate status not within (1)-(7). (8) Other. CFDs CLOSED OUT PRODUCT NAME POS. OPEN OPEN DATE CLOSE UK Coal PLC SHORT CFD 10000 1.2900 16/02/05 1.3850 UK Coal PLC SHORT CFD 10000 1.3500 19/04/05 1.3800 UK Coal PLC SHORT CFD 10000 1.3900 22/04/05 1.3800 UK Coal PLC SHORT CFD 50000 1.3750 15/04/05 1.4100 CFD OPEN INTEREST PRODUCT NAME EXECUTED MAN FIN Ref Shares PRICE LTD (GBP) UK Coal PLC LONG CFD 22/04/05 SALE 10,000 1.4100 UK Coal PLC LONG CFD 22/04/05 SALE 10,000 1.4100 UK Coal PLC LONG CFD 22/04/05 SALE 10,000 1.4100 UK Coal PLC LONG CFD 22/04/05 SALE 3,000 1.4000 UK Coal PLC LONG CFD 22/04/05 SALE 20,000 1.4100 UK Coal PLC LONG CFD 19/04/05 SALE 160,000 1.3450 UK Coal PLC LONG CFD 15/04/05 SALE 5,000 1.3750 UK Coal PLC LONG CFD 14/04/05 SALE 10,000 1.3700 UK Coal PLC LONG CFD 13/04/05 SALE 240,000 1.3150 UK Coal PLC LONG CFD 07/04/05 SALE 125,000 1.3800 UK Coal PLC LONG CFD 07/04/05 SALE 20,000 1.4100 UK Coal PLC LONG CFD 07/04/05 SALE 10,000 1.3500 UK Coal PLC LONG CFD 06/04/05 SALE 285,000 1.3650 UK Coal PLC LONG CFD 06/04/05 SALE 30,000 1.3750 UK Coal PLC LONG CFD 06/04/05 SALE 10,000 1.3775 UK Coal PLC LONG CFD 05/04/05 SALE 25,000 1.2575 UK Coal PLC LONG CFD 04/03/05 SALE 25,000 1.1950 UK Coal PLC LONG CFD 03/03/05 SALE 50,000 1.1700 UK Coal PLC LONG CFD 28/02/05 SALE 15,000 1.3400 UK Coal PLC LONG CFD 28/02/05 SALE 15,000 1.3400 UK Coal PLC LONG CFD 28/02/05 SALE 10,000 1.3400 UK Coal PLC LONG CFD 17/02/05 SALE 1,400,000 1.2900 UK Coal PLC LONG CFD 16/02/05 SALE 27,500 1.2900 UK Coal PLC LONG CFD 12/01/05 SALE 10,000 1.4100 UK Coal PLC LONG CFD 06/12/04 SALE 25,000 1.3700 UK Coal PLC LONG CFD 02/12/04 SALE 25,000 1.3800 UK Coal PLC LONG CFD 30/11/04 SALE 5,000 1.3400 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Harworth Gp