Electra Private Equity PLC Holding(s) in Company (8885S)

TIDMELTA

RNS Number : 8885S

Electra Private Equity PLC

28 December 2016

 
 TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES(i) 
--------------------------------------------------------------------------------------------------------- 
 
 1. Identity of the issuer or                                     Electra Private Equity 
  the underlying issuer                                            PLC 
  of existing shares to which 
  voting rights are 
  attached: (ii) 
---------------------------------------------------------------  ---------------------------------------- 
 2 Reason for the notification (please tick the appropriate 
  box or boxes): 
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 An acquisition or disposal of voting rights 
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 An acquisition or disposal of qualifying financial 
  instruments which may result in the acquisition 
  of shares already issued to which voting rights 
  are attached 
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 An acquisition or disposal of instruments with 
  similar economic effect to qualifying financial 
  instruments 
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 An event changing the breakdown of voting rights 
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 Other (please                                                Change in Issuer's number of Total 
  specify):                                                   Voting Rights 
-----------------------------------------------------------  ------------------------------------------ 
 3. Full name of person(s) 
  subject to the                                                  (i) Sherborne Investors Management 
  notification obligation:                                        (Guernsey) LLC 
  (iii)                                                           (ii) Sherborne Investors Management 
                                                                  LP 
                                                                  (iii) Sherborne Investors 
                                                                  Management GP, LLC 
                                                                  (iv) Edward Bramson 
-------------------------------------------------------------  ------------------------------------------ 
 4. Full name of shareholder(s)                                 SIGB, LP, acting by its general 
  (if different from 3.):(iv)                                    partner Sherborne Investors 
                                                                 (Guernsey) GP, LLC, and Sherborne 
                                                                 Investors (Guernsey) GP, LLC, 
                                                                 each as a counterparty to 
                                                                 the investment management 
                                                                 agreement with Sherborne Investors 
                                                                 Management (Guernsey) LLC 
-------------------------------------------------------------  ------------------------------------------ 
 5. Date of the transaction                                     23 December 2016 
  and date on 
  which the threshold is 
  crossed or 
  reached: (v) 
-------------------------------------------------------------  ------------------------------------------ 
 6. Date on which issuer                                        23 December 2016 
  notified: 
-------------------------------------------------------------  ------------------------------------------ 
 7. Threshold(s) that is/are 
  crossed or                                                      >29% 
  reached: (vi, vii) 
-------------------------------------------------------------  ------------------------------------------ 
 
 
 
 8. Notified details: 
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 A: Voting rights attached to shares (viii, ix) 
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 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) 
--------------      ------------    ------------    --------------  ---------  ------------  ------------  ----------- 
 Ordinary 
 Shares 
 (ISIN Code: 
 GB0003085445)   11,360,013        11,360,013                                   11,426,086                  29.85% 
                ----------------  ----------------  --------------  ---------  ------------  ------------  ----------- 
 
 
 B: Qualifying Financial Instruments 
---------------------------------------------------------------------------------------------------------------------- 
 Resulting situation after the triggering transaction 
---------------------------------------------------------------------------------------------------------------------- 
 Type of financial   Expiration      Exercise/                         Number of voting           % of voting 
  instrument          date            Conversion                        rights that                rights 
                      (xiii)          Period (xiv)                      may be 
                                                                        acquired if 
                                                                        the 
                                                                        instrument 
                                                                        is 
                                                                        exercised/ 
                                                                        converted. 
------------------  --------------  --------------------------------  -------------------------  --------------------- 
 
 
 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) 
----------------  --------------  --------------  ----------------  -------------------------  ----------------------- 
                                                                                                Nominal       Delta 
----------------  --------------  --------------  ----------------  -------------------------  ------------  --------- 
 
 
 Total (A+B+C) 
---------------------------------------------------------------------------------------------------------------------- 
 Number of voting rights                               Percentage of voting rights 
----------------------------------------------------  ---------------------------------------------------------------- 
 11,426,086                                            29.85% 
----------------------------------------------------  ---------------------------------------------------------------- 
 
 
 
 9. Chain of controlled undertakings through which the 
  voting rights and/or the 
  financial instruments are effectively held, if applicable: 
  (xxi) 
------------------------------------------------------------------------------------------------- 
 
   Edward Bramson is the managing member of Sherborne Investors 
   Management GP, LLC. Edward Bramson and Stephen Welker 
   are each members of an investment committee of Sherborne 
   Investors Management GP, LLC which makes all decisions 
   regarding the acquisition, holding, voting, or disposition 
   of investment securities managed, directly or indirectly, 
   by Sherborne Investors Management GP, LLC. 
 
   Sherborne Investors Management GP, LLC is the general 
   partner of Sherborne Investors Management LP. Sherborne 
   Investors Management LP is the sole member of Sherborne 
   Investors Management (Guernsey) LLC. 
 
   Sherborne Investors Management (Guernsey) LLC is an 
   investment manager which is entitled to exercise discretion 
   over the voting rights in the issuer held by Sherborne 
   Investors (Guernsey) GP, LLC as the general partner 
   of SIGB, LP, which are the subject of this notification 
   of major interest in shares. 
 Proxy Voting: 
------------------------------------------------------------------------------------------------- 

 10. Name of the proxy holder:                               N/A 
----------------------------------------------------------  ------------------------------------- 
 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:                                 Sherborne Investors Management 
                                                              LP is an investment adviser 
                                                              registered with the United 
                                                              States Securities and Exchange 
                                                              Commission under the U.S. 
                                                              Investment Advisers Act 1940. 
                                                              Sherborne Investors Management 
                                                              (Guernsey) LLC, as a wholly 
                                                              owned subsidiary of Sherborne 
                                                              Investors Management LP, 
                                                              is registered and regulated 
                                                              under the U.S. Investment 
                                                              Advisers Act 1940 as an investment 
                                                              adviser relying on the registration 
                                                              of its parent, Sherborne 
                                                              Investors Management LP. 
----------------------------------------------------------  ------------------------------------- 
 14. Contact name:                                           Eleanor Cranmer 
                                                              Frostrow Capital LLP 
                                                              Company Secretary to Electra 
                                                              Private Equity PLC 
----------------------------------------------------------  ------------------------------------- 
 15. Contact telephone number:                               020 3008 4613 
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This information is provided by RNS

The company news service from the London Stock Exchange

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December 28, 2016 09:27 ET (14:27 GMT)