Rule 8.1 - Syndicate Asset Management

 
TIDMSAM 
 
FORM 8.1 
 
          DEALINGS BY OFFERORS, OFFEREE COMPANIES OR THEIR ASSOCIATES 
 
                  FOR THEMSELVES OR FOR DISCRETIONARY CLIENTS 
 
                (Rules 8.1(a) and (b)(i) of the Takeover Code) 
 
1. KEY INFORMATION 
 
Name of person dealing (Note 1) Patrick Towers 
 
Company dealt in                Syndicate Asset Management Plc 
 
Class of relevant security to   Ordinary Shares of 0.2p each 
which the dealings being 
disclosed relate (Note 2) 
 
Date of dealing                 8 May 2009 
 
2. INTERESTS, SHORT POSITIONS AND RIGHTS TO SUBSCRIBE 
 
(a) Interests and short positions (following dealing) in the class of relevant 
security dealt in (Note 3) 
 
                                         Long                   Short 
 
                                Number (%)             Number (%) 
 
(1) Relevant securities         304,476 0.05% 
 
(2) Derivatives (other than     NA 
options) 
 
(3) Options and agreements to   0 
purchase/sell 
 
Total                           304,476 0.05% 
 
(b) Interests and short positions in relevant securities of the company, other 
than the class dealt in (Note 3) 
 
Class of relevant security:              Long                   Short 
 
                                Number (%)             Number (%) 
 
(1) Relevant securities 
 
(2) Derivatives (other than 
options) 
 
(3) Options and agreements to 
purchase/sell 
 
Total 
 
(c) Rights to subscribe (Note 3) 
 
Class of relevant security:     Details 
 
Ordinary Shares of 0.2 pence    Number of shares subscribed for : 200,000 
each 
 
3. DEALINGS (Note 4) 
 
(a) Purchases and sales 
 
Purchase/sale              Number of securities      Price per unit (Note 5) 
 
 
(b) Derivatives transactions (other than options) 
 
Product name,  Long/short (Note  Number of securities     Price per unit (Note 
               6)                (Note 7)                 5) 
e.g. CFD 
 
 
(c) Options transactions in respect of existing securities 
 
(i) Writing, selling, purchasing or varying 
 
Product name, Writing,    Number of     Exercise Type, e.g. Expiry  Option 
              selling,    securities to          American,          money 
e.g. call     purchasing, which the     price    European   date 
option        varying     option                 etc.               paid/ 
              etc.        relates (Note                             received 
                          7)                                        per unit 
                                                                    (Note 5) 
 
 
(ii) Exercising 
 
Product name, e.g. call    Number of securities      Exercise price per unit 
option                                               (Note 5) 
 
 
(d) Other dealings (including new securities) (Note 4) 
 
Nature of transaction      Details                   Price per unit (if 
(Note 8)                                             applicable) (Note 5) 
 
Subcription                "This disclosure is being 1 pence 
                           made as a result of an 
                           agreement entered into by 
                           the person identified 
                           above as dealing to 
                           subscribe for new 
                           ordinary shares of 0.2 
                           pence each ("New Ordinary 
                           Shares") in the capital 
                           of Syndicate Asset 
                           Management Plc (the 
                           "Company") at a 
                           subscription price of 1 
                           pence each.  That 
                           agreement was entered 
                           into in connection with 
                           the proposed subscription 
                           for, in aggregate, 
                           310,000,000 New Ordinary 
                           Shares announced by the 
                           Company on 8 May 2009 
                           (the "Subscription").  On 
                           the same date the Company 
                           also announced the 
                           proposed issue of 
                           200,000,000 further New 
                           Ordinary Shares (the 
                           "Issue").  The 
                           Subscription and the 
                           Issue have yet to 
                           complete and are 
                           conditional on, amongst 
                           other things, the 
                           Company's shareholders 
                           approving certain 
                           resolutions to be put to 
                           a general meeting 
                           convened for 26 May 2009. 
                            The percentage holding 
                           set above, is calculated 
                           by reference to the 
                           issued share capital of 
                           the Company as it will be 
                           in the event that the 
                           Subscription and the 
                           Issue are approved by 
                           shareholders and become 
                           effective." 
 
4. OTHER INFORMATION 
 
Agreements, arrangements or understandings relating to options or derivatives 
 
Full details of any agreement, arrangement or understanding between the person 
disclosing and any other person relating to the voting rights of any relevant 
securities under any option referred to on this form or relating to the voting 
rights or future acquisition or disposal of any relevant securities to which 
any derivative referred to on this form is referenced. If none, this should be 
stated. 
 
 
Is a Supplemental Form 8 attached? (Note 9) [DEL:YES:DEL]/NO 
 
Date of disclosure                           19 May 2009 
 
Contact name                                 J D Freeman 
 
Telephone number                             0207 659 8069 
 
Name of offeree/offeror with which           Syndicate Asset Management Plc 
associated 
 
Specify category and nature of associate     Director of Subsidiary Company 
status (Note 10) 
 
Notes 
 
The Notes on Form 8.1 can be viewed on the Takeover Panel's website at 
www.thetakeoverpanel.org.uk 
 
 
 
END