Electrocomponents PLC Holding(s) in Company (7736V)

TIDMECM

RNS Number : 7736V

Electrocomponents PLC

01 February 2017

 
 TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES(i) 
-------------------------------------------------- 
 
 
 
 1. Identity of the issuer or                                                Electrocomponents plc 
  the underlying issuer 
  of existing shares to which 
  voting rights are 
  attached: (ii) 
-----------------------------------------------------------  ------------------------------------- 
 2 Reason for the notification (please tick the appropriate 
  box or boxes): 
-------------------------------------------------------------------------------------------------- 
 An acquisition or disposal of voting rights                                    X 
------------------------------------------------------------  ------------------------------------ 
 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): 
----------------------------------------------------------    ------------------------------------ 
 3. Full name of person(s)                                      Silchester International Investors 
  subject to the                                                                               LLP 
  notification obligation: 
  (iii) 
-----------------------------------------------------------  ------------------------------------- 
 4. Full name of shareholder(s)                               Silchester International Investors 
  (if different from 3.):(iv)                                  International Value Equity 
                                                               Taxable Trust 
 
                                                               Silchester International Investors 
                                                               International Value Equity 
                                                               Trust 
 
                                                               Silchester International Investors 
                                                               International Value Equity 
                                                               Group Trust 
 
                                                               Silchester International Investors 
                                                               Tobacco Free International 
                                                               Value Equity Trust 
 
                                                               The Calleva Trust 
-----------------------------------------------------------  ------------------------------------- 
 5. Date of the transaction                                                    31(st) January 2017 
  and date on 
  which the threshold is 
  crossed or 
  reached: (v) 
-----------------------------------------------------------  ------------------------------------- 
 6. Date on which issuer                                                       1(st) February 2017 
  notified: 
-----------------------------------------------------------  ------------------------------------- 
 7. Threshold(s) that is/are 
  crossed or 
  reached: (vi, vii)                                                                           16% 
-----------------------------------------------------------  ------------------------------------- 
 
 
 
 8. Notified details: 
---------------------------------------------------------------------------------------------------------------------- 
 A: Voting rights attached to shares (viii, ix) 
---------------------------------------------------------------------------------------------------------------------- 
 Class/type     Situation previous                   Resulting situation after the 
  of             to the triggering                    triggering transaction 
  shares         transaction 
 
  if possible 
  using 
  the ISIN 
  CODE 
-------------  -----------------------------------  ------------------------------------------------------------------ 
                Number            Number             Number          Number of                % of voting 
                 of                of                 of shares       voting                   rights (x) 
                 Shares            Voting                             rights 
                                   Rights 
-------------  ----------------  -----------------  --------------  -----------------------  ------------------------- 
                                                     Direct          Direct     Indirect      Direct        Indirect 
                                                                     (xi)        (xii) 
-------------      ------------    -------------    --------------  ---------  ------------  ------------  ----------- 
 GB0003096442   74,833,892        74,833,892                                    70,410,061                  15.95% 
               ----------------  -----------------  --------------  ---------  ------------  ------------  ----------- 
 
 
 B: Qualifying Financial Instruments 
---------------------------------------------------------------------------------------------------------------------- 
 Resulting situation after the triggering transaction 
---------------------------------------------------------------------------------------------------------------------- 
 Type of            Expiration      Exercise/                          Number of voting           % of voting 
 financial           date            Conversion                         rights that                rights 
 instrument          (xiii)          Period (xiv)                       may be 
                                                                        acquired if 
                                                                        the 
                                                                        instrument 
                                                                        is 
                                                                        exercised/ 
                                                                        converted. 
-----------------  --------------  ---------------------------------  -------------------------  --------------------- 
 N/A                N/A             N/A                                N/A                        N/A 
-----------------  --------------  ---------------------------------  -------------------------  --------------------- 
 
 C: Financial Instruments with similar economic effect 
  to Qualifying Financial Instruments (xv, xvi) 
---------------------------------------------------------------------------------------------------------------------- 
 Resulting situation after the triggering transaction 
---------------------------------------------------------------------------------------------------------------------- 
 Type of          Exercise        Expiration       Exercise/         Number of voting           % of voting 
 financial         price          date             Conversion         rights instrument          rights (xix, 
 instrument                       (xvii)           period             refers to                  xx) 
                                                   (xviii) 
---------------  --------------  ---------------  ----------------  -------------------------  ----------------------- 
 N/A              N/A             N/A              N/A               N/A                        Nominal       Delta 
---------------  --------------  ---------------  ----------------  -------------------------  ------------  --------- 
                                                                                                N/A           N/A 
-------------      ------------    -------------      ------------    -------  ------------    ------------  --------- 
 
 Total (A+B+C) 
---------------------------------------------------------------------------------------------------------------------- 
 Number of voting rights                               Percentage of voting rights 
----------------------------------------------------  ---------------------------------------------------------------- 
 70,410,061                                            15.95% 
----------------------------------------------------  ---------------------------------------------------------------- 
 
 
 
 9. Chain of controlled undertakings through which the 
  voting rights and/or the 
  financial instruments are effectively held, if applicable: 
  (xxi) 
------------------------------------------------------------------------ 
 
   N/A 
 
 Proxy Voting: 
------------------------------------------------------------------------ 
 10. Name of the proxy holder:                  Silchester International 
                                                           Investors LLP 
-------------------------------------  --------------------------------- 
 11. Number of voting rights proxy                                   N/A 
  holder will cease to hold: 
-------------------------------------  --------------------------------- 
 12. Date on which proxy holder will                                 N/A 
  cease to hold voting rights: 
-------------------------------------  --------------------------------- 
 
 
  13. Additional information:            Silchester International 
                                         Investors LLP ("Silchester") 
                                         acts as investment manager 
                                         for the clients detailed 

                                         in Question 4 above (our 
                                         "Clients"). In acting for 
                                         our Clients, Silchester are 
                                         given full discretion over 
                                         their investments and are 
                                         empowered to vote on their 
                                         behalf. However, we do not 
                                         act as our Clients' custodian 
                                         and therefore shares are 
                                         not held in our name but 
                                         in the name of each Client's 
                                         custodian bank. 
 
                                         The change in Silchester's 
                                         holdings was due to a series 
                                         of transactions over a series 
                                         of different trading days. 
                                         Details of the number of 
                                         shares held before the change 
                                         (shown in Section A) represent 
                                         the shares held by Silchester's 
                                         clients as of the date of 
                                         our last Notice of Substantial 
                                         Shareholder's Interest (a 
                                         notification of crossing 
                                         below 17% of Electrocomponent's 
                                         voting rights) and not as 
                                         of the last trading day before 
                                         which this disclosure was 
                                         triggered. 
 
                                         Notification is provided 
                                         based on a total voting rights 
                                         figure of 441,335,228. 
-------------------------------------  --------------------------------- 
 14. Contact name:                      Timothy J. Linehan, Chief 
                                         Compliance Officer 
-------------------------------------  --------------------------------- 
 15. Contact telephone number:          0207 518 7125 
-------------------------------------  --------------------------------- 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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February 01, 2017 09:15 ET (14:15 GMT)