Electrocomponents PLC Holding(s) in Company (0848I)

TIDMECM

RNS Number : 0848I

Electrocomponents PLC

14 June 2017

 
 
 TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES(i) 
------------------------------------------------------------------------------------------------------------------------ 
 
 1. Identity of the issuer or the underlying                                                       Electrocomponents plc 
  issuer                                                                                       LEI: 549300KVXDURRKVW7R37 
  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                                                    Silchester International Investors 
  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 and date                                                                    13(th) June 2017 
  on 
  which the threshold is crossed 
  or 
  reached: (v) 
---------------------------------------------------------------------  ------------------------------------------------- 
 6. Date on which issuer notified:                                                                      14(th) June 2017 
---------------------------------------------------------------------  ------------------------------------------------- 
 7. Threshold(s) that is/are crossed                                                                           Below 12% 
  or 
  reached: (vi, vii) 
---------------------------------------------------------------------  ------------------------------------------------- 
 
 
 
 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 shares       rights                  (x) 
                 Shares            Voting 
                                   Rights 
-------------  ----------------  ----------------  --------------  ----------------------  --------------------------- 
                                                    Direct          Direct     Indirect     Direct        Indirect 
                                                                    (xi)        (xii) 
-------------      ------------    ------------    --------------  ---------  -----------  ------------  ------------- 
 GB0003096442   57,367,320        57,367,320                                   52,850,989                 11.97% 
               ----------------  ----------------  --------------  ---------  -----------  ------------  ------------- 
 
 
 B: Qualifying Financial Instruments 
---------------------------------------------------------------------------------------------------------------------- 
 Resulting situation after the triggering transaction 
---------------------------------------------------------------------------------------------------------------------- 
 Type of            Expiration      Exercise/                         Number of voting          % of voting 
 financial           date (xiii)     Conversion Period                 rights that may           rights 
 instrument                          (xiv)                             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 rights 
 financial         price          date (xvii)     Conversion         rights instrument         (xix, xx) 
 instrument                                       period             refers to 
                                                  (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 
---------------------------------------------------  ----------------------------------------------------------------- 
 52,850,989                                           11.97% 
---------------------------------------------------  ----------------------------------------------------------------- 
 
 
 
 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 holder will                                                 N/A 
  cease 
  to hold: 
--------------------------------------------------  ---------------------------------------------- 
 12. Date on which proxy holder will cease to                                                  N/A 

  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 14% 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 441,551,793. 
--------------------------------------------------  ---------------------------------------------- 
 14. Contact name:                                   Timothy J. Linehan, Senior Partner 
--------------------------------------------------  ---------------------------------------------- 
 15. Contact telephone number:                       0207 518 7125 
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This information is provided by RNS

The company news service from the London Stock Exchange

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June 14, 2017 07:11 ET (11:11 GMT)