Asia Resource Minerals PLC Holding(s) in Company (1222T)

TIDMARMS

RNS Number : 1222T

Asia Resource Minerals PLC

15 July 2015

 
 TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES(i) 
-------------------------------------------------- 
 
 
 
 1. Identity of the issuer or the underlying                       Asia Resource Minerals plc 
  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) subject                           Argyle Street Management Limited 
  to the                                            Argyle Street Management Holdings Limited 
  notification obligation: (iii) 
--------------------------------------------  ----------------------------------------------- 
 4. Full name of shareholder(s)                             Asia Coal Energy Ventures Limited 
  (if different from 3.):(iv)                                        Vidacos Nominees Limited 
--------------------------------------------  ----------------------------------------------- 
 5. Date of the transaction and date                                             14 July 2015 
  on 
  which the threshold is crossed 
  or 
  reached: (v) 
--------------------------------------------  ----------------------------------------------- 
 6. Date on which issuer notified:                                               15 July 2015 
--------------------------------------------  ----------------------------------------------- 
 7. Threshold(s) that is/are crossed 
  or 
  reached: (vi, vii)                                                                      75% 
--------------------------------------------  ----------------------------------------------- 
 
 
 
 8. Notified details: 
--------------------------------------------------------------------------------------------------------------------------- 
 A: Voting rights attached to shares (viii, ix) 
--------------------------------------------------------------------------------------------------------------------------- 
 Class/type     Situation previous                       Resulting situation after the triggering 
 of              to the triggering                        transaction 
 shares          transaction 
 
 if possible 
 using 
 the ISIN 
 CODE 
-------------  ---------------------------------------  ------------------------------------------------------------------- 
                Number              Number               Number     Number of voting          % of voting rights 
                 of                  of                  of          rights                    (x) 
                 Shares              Voting              shares 
                                     Rights 
-------------  ------------------  -------------------  ---------  ------------------------  ------------------------------ 
                                                         Direct     Direct      Indirect      Direct           Indirect 
                                                                     (xi)        (xii) 
-------------    ------  ------    ------  -----  ----  ---------  ----------  ------------  ---------------  ------------- 
 GB00B5BLXT62   179,986,975         179,986,975                                 182,303,643                    75.66% 
               ------------------  -------------------  ---------  ----------  ------------  ---------------  ------------- 
 
 
 B: Qualifying Financial Instruments 
--------------------------------------------------------------------------------------------------------------------------- 
 Resulting situation after the triggering transaction 
--------------------------------------------------------------------------------------------------------------------------- 
 Type of financial        Expiration        Exercise/                     Number of voting               % of voting 
  instrument               date (xiii)       Conversion Period             rights that may                rights 
                                             (xiv)                         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 rights 
 financial         price           date (xvii)      Conversion       rights instrument              (xix, xx) 
 instrument                                         period           refers to 
                                                    (xviii) 
---------------  --------------  ---------------  ---------------  -----------------------------  ------------------------- 
                                                                                                   Nominal        Delta 
---------------  --------------  ---------------  ---------------  -----------------------------  -------------  ---------- 
 
 
 Total (A+B+C) 
--------------------------------------------------------------------------------------------------------------------------- 
 Number of voting rights                                          Percentage of voting rights 
---------------------------------------------------------------  ---------------------------------------------------------- 
 182,303,643                                                      75.66% 
---------------------------------------------------------------  ---------------------------------------------------------- 
 
 
 
 9. Chain of controlled undertakings through which the voting rights and/or 
  the 
  financial instruments are effectively held, if applicable: (xxi) 
----------------------------------------------------------------------------------------------- 
 
        The ordinary shares of Asia Resource Minerals plc are subject to a takeover 
        offer made by Asia Coal Energy Ventures Limited ("ACE") (the "Offer"), 
        the full terms and conditions of which were published in an offer document 
        dated 10 June 2015. 
 
        On 1 July 2015, the Offer was declared unconditional in all respects 
        and ACE thereby unconditionally contracted to acquire 164,340,834 ordinary 
        shares in Asia Resource Minerals plc. As a result, ACE became entitled 
        to direct the exercise of 68.20% of the voting rights in Asia Resource 
        Minerals plc, triggering a notification requirement on such date. 
 
        Subsequently, on 9 July 2015, ACE unconditionally contracted to acquire 
        an additional 4,453,646 ordinary shares in Asia Resource Minerals plc, 
        due to further acceptances of the Offer. Accordingly, ACE thereby unconditionally 
        contracted to acquire an aggregate of 168,794,480 in Asia Resource Minerals 
        plc. 
 
        Subsequently, on 14 July 2015, ACE unconditionally contracted to acquire 
        an additional 2,316,668 ordinary shares in Asia Resource Minerals plc, 
        due to further acceptances of the Offer. Accordingly, ACE thereby unconditionally 
        contracted to acquire an aggregate of 171,111,148 in Asia Resource Minerals 
        plc. 
 
        Argyle Street Management Holdings Limited is the parent company of Argyle 
        Street Management Limited which is the investment manager of: 
 
        (i) ACE (which has unconditionally contracted to acquire 171,111,148 
        shares as a result of acceptances of its offer in respect of Asia Resource 
        Minerals plc); and 
 
        (ii) ASM Hudson River Fund (517,073 shares), ASM Asia Recovery (Master) 
        Fund (5,164,898 shares), ASM Co-Investment Opportunity Trust II LP (4,741,931 
        shares) and ASM Connaught House Fund LP (768,593 shares) (the "Funds"), 
        being 11,192,495 shares in aggregate and representing 4.65% of the voting 
        rights in Asia Resource Minerals plc. 
 
        Vidacos Nominees Limited is the nominee which holds the 11,192,495 shares 
        on behalf of the Funds' prime broker Citigroup Global Markets Limited. 
 
        Argyle Street Management Holdings Limited (0% direct interest in voting 
        rights) is the parent company of ASM Administration Limited ((0% direct 
        interest in voting rights), which is the parent company of ACE (70.05%). 
 
 Proxy Voting: 
----------------------------------------------------------------------------------------------- 
 10. Name of the proxy holder: 
-------------------------------------------------------------  -------------------------------- 
 11. Number of voting rights proxy holder will 
  cease 
  to hold: 
-------------------------------------------------------------  -------------------------------- 
 12. Date on which proxy holder will cease to 
  hold 
  voting rights: 
-------------------------------------------------------------  -------------------------------- 
 
 
  13. Additional information:                        None of the Funds alone has a discloseable 
                                                      interest but in aggregate their interests 
                                                                              are discloseable. 
-----------------------------------------------  ---------------------------------------------- 
 14. Contact name:                                                         Ivan Goh / Winnie Ng 
-----------------------------------------------  ---------------------------------------------- 
 15. Contact telephone number:                                                   [phone] 
-----------------------------------------------  ---------------------------------------------- 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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