Paddy Power Betfair plc Holding(s) in Company (1926C)

TIDMPPB

RNS Number : 1926C

Paddy Power Betfair plc

17 January 2018

Standard Form TR-1

Standard form for notification of major holdings

 
 NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant 
  issuer and to the Central Bank of Ireland)(i) 
------------------------------------------------------------------------------------- 
 
 1. Identity of the issuer or the underlying issuer 
  of existing shares to which voting rights are attached(ii) 
  : 
  Paddy Power Betfair Plc 
------------------------------------------------------------------------------------- 
 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 financial instruments 
  [ ] An event changing the breakdown of voting rights 
  [ ] Other (please specify)(iii) : 
------------------------------------------------------------------------------------- 
 3. Details of person subject to the notification obligation(iv) 
  : 
 Name:                                  City and country of registered 
  Parvus Asset Management                office (if applicable): 
  Europe Limited                         London, United Kingdom 
-------------------------------------  ---------------------------------------------- 
 4. Full name of shareholder(s) (if different from 3.)(v) 
  : 
  Parvus Asset Management Europe Limited has been appointed 
  as Investment Manager to a number of funds and managed 
  accounts. Under the terms of the various investment 
  management agreements, Parvus Asset Management Europe 
  Limited holds the power to vote any physical shareholdings 
  held by these clients. No individual client holds voting 
  rights which equal or exceed the notifiable threshold. 
------------------------------------------------------------------------------------- 
 5. Date on which the threshold was crossed or reached(vi) 
  : 
  15 January 2018 
------------------------------------------------------------------------------------- 
 6. Date on which issuer notified: 
  17 January 2018 
------------------------------------------------------------------------------------- 
 7. Threshold(s) that is/are crossed or reached: 
  Going below 7% in aggregate. 
  Going below 7% in equity swaps. 
------------------------------------------------------------------------------------- 
 8. Total positions of person(s) subject to the notification 
  obligation: 
------------------------------------------------------------------------------------- 
                     % of voting        % of voting       Total of       Total number 
                      rights attached    rights through    both in %      of voting 
                      to shares          financial         (9.A + 9.B)    rights of 
                      (total of          instruments                      issuer(vii) 
                      9.A)               (total of 
                                         9.B.1 + 9.B.2) 
------------------  -----------------  ----------------  -------------  ------------- 
 Resulting 
  situation 
  on the date 
  on which 
  threshold 
  was crossed 
  or reached                0%               6.85%           6.85%        84,574,310 
------------------  -----------------  ----------------  -------------  ------------- 
 Position 
  of previous 
  notification 
  (if applicable)           0%               7.01%           7.01% 
------------------  -----------------  ----------------  -------------  ------------- 
 
 
 9. Notified details of the resulting situation on the 
  date on which the threshold was crossed or reached(viii) 
  : 
-------------------------------------------------------------------------------------------------------------- 
 A: Voting rights attached to shares 
-------------------------------------------------------------------------------------------------------------- 
 Class/type         Number of voting rights(ix)           % of voting rights 
  of 
  shares 
  ISIN code 
  (if possible) 
----------------- 
 
                           Direct            Indirect           Direct                    Indirect 
-----------------  -------------------  ---------------  -----------------  ---------------------------------- 
 
 
 
 SUBTOTAL 
  A 
-----------------  -------------------  ---------------  -----------------  ---------------------------------- 
 
 B 1: Financial Instruments according to Regulation 
  17(1)(a) of the Regulations 
-------------------------------------------------------------------------------------------------------------- 
 Type of             Expiration         Exercise/         Number of voting                     % of voting 
  financial           date(x)            Conversion        rights that                          rights 
  instrument                             Period(xi)        may be acquired 
                                                           if the instrument 
                                                           is exercised/converted. 
------------------  -----------------  ----------------  -----------------------------------  ---------------- 
 
 
 
                                        SUBTOTAL B.1 
                                       ----------------  -----------------------------------  ---------------- 
 
 B 2: Financial Instruments with similar economic effect 
  according to Regulation 17(1)(b) of the Regulations 
-------------------------------------------------------------------------------------------------------------- 
 Type of            Expiration          Exercise/        Physical            Number            % of voting 
  financial          date(x)            Conversion       or cash              of voting         rights 
  instrument                            Period           settlement(xii)      rights 
                                        (xi) 
-----------------  ------------------  ---------------  ------------------  ----------------  ---------------- 
           Equity 
             Swap          03/05/2018              N/A                Cash         2,853,457             3.37% 
-----------------  ------------------  ---------------  ------------------  ----------------  ---------------- 
           Equity 
             Swap          03/07/2018              N/A                Cash           156,350             0.18% 
-----------------  ------------------  ---------------  ------------------  ----------------  ---------------- 
           Equity 
             Swap          07/08/2018              N/A                Cash            25,820             0.03% 
-----------------  ------------------  ---------------  ------------------  ----------------  ---------------- 
           Equity 
             Swap          04/12/2018              N/A                Cash           357,449             0.42% 
-----------------  ------------------  ---------------  ------------------  ----------------  ---------------- 
           Equity 
             Swap          11/03/2019              N/A                Cash         2,074,843             2.45% 
-----------------  ------------------  ---------------  ------------------  ----------------  ---------------- 
           Equity 
             Swap          05/07/2019              N/A                Cash            21,265             0.03% 
-----------------  ------------------  ---------------  ------------------  ----------------  ---------------- 
           Equity 
             Swap          12/07/2019              N/A                Cash           303,791             0.36% 
-----------------  ------------------  ---------------  ------------------  ----------------  ---------------- 
                                                                  SUBTOTAL 
                                                                       B.2         5,792,975             6.85% 
                                      ------------------                    ----------------  ---------------- 
 
 
 
 10. Information in relation to the person subject to 
  the notification obligation (please tick the applicable 
  box): 
 
  [ ] Person subject to the notification obligation is 
  not controlled by any natural person or legal entity 
  and does not control any other undertaking(s) holding 
  directly or indirectly an interest in the (underlying) 
  issuer.(xiii) 
 
  [X] Full chain of controlled undertakings through which 
  the voting rights and/or the 
  financial instruments are effectively held starting 
  with the ultimate controlling natural person or legal 
  entity(xiv) : 
  Parvus Asset Management Europe Limited is controlled 
  by Parvus Asset Management Limited and Oakentree Limited. 
  Parvus Asset Management Limited is in turn controlled 
  by Parvus Asset Management (Cayman) Limited, which is 
  controlled by Edoardo Mercadante. 
  Oakentree Limited is in turn controlled by Mads Gensmann. 
  Messrs Mercadante and Gensmann are directors of Parvus 
  Asset Management Europe Limited, which company holds 
  the power to vote these shares. 
 Name(xv)   % of voting       % of voting              Total of both 
             rights if it      rights through           if it equals 
             equals or is      financial instruments    or is higher 
             higher than       if it equals             than the notifiable 
             the notifiable    or is higher             threshold 
             threshold         than the notifiable 
                               threshold 
---------  ----------------  -----------------------  --------------------- 
 
 
 
 
 
 
 11. In case of proxy voting: [name of the proxy holder] 
  will cease to hold [% and number] voting rights as of 
  [date] 
 
  N/A 
--------------------------------------------------------------------------- 
 
 12. Additional information(xvi) : 
 
 
  N/A 
--------------------------------------------------------------------------- 
 

Done at London on 17 January 2018.

This information is provided by RNS

The company news service from the London Stock Exchange

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January 17, 2018 12:34 ET (17:34 GMT)