Statement re Major Interest i

For filings with the FSA include the annex

For filings with issuer exclude the annex 

TR-1: Notifications of Major Interests in Shares

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

Merchant Securities PLC

2. Reason for notification (yes/no)

An acquisition or disposal of voting rights

Yes 

An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached 

No

An event changing the breakdown of voting rights

No

Other (please specify):______________

N/A

3. Full name of person(s) subject to notification obligation:

Dom Maklerski IDM Spolka Akcyjna ("IDMSA")

4. Full name of shareholder(s) (if different from 3):

Pershing Nominees Limited

5. Date of transaction (and date on which the threshold is crossed or reached if different):

22 July 2008

6. Date on which issuer notified:

22 July 2008

7. Threshold(s) that is/are crossed or reached:

17.06%

8: Notified Details

A: Voting rights attached to shares

Class/type of shares

If possible use ISIN code

Situation previous to the triggering transaction

Resulting situation after the triggering transaction

Number of shares

Number of voting rights

Number of shares

Number of voting rights

Percentage of voting rights

Direct

Indirect

Direct

Indirect

Ordinary NIL NIL 8,000,000 8,000,000 NIL 17.06% NIL

shares: 

GB00B1FRQG03

B: Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration date

Exercise/ conversion period/date 

No. of voting rights that may be acquired (if the instrument exercised/converted)

Percentage of voting rights

NIL

Total (A+B)

Number of voting rights

Percentage of voting rights

8,000,000

17.06%

9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectively held, if applicable:

8,000,000 shares are held by Pershing Nominees Limited. Shares are under the control of Dom Maklerski IDM Spolka Akcyjna ("IDMSA")

Proxy Voting:

10. Name of 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:

NIL

14 Contact name:

Lukasz Jagiello

15. Contact telephone name:

+ 48 22 489 94 65, mob. +48 602 636 419