Rule 8.1 - Victor Haghani

 
TIDMZZZ TIDMSAM 
 
FORM 8.1 
 
                                  ANNOUNCEMENT 
 
           DEALINGS BY OFFERORS, OFFEREE COMPANIES OR THEIR ASSOCIATES 
                   FOR THEMSELVES OR FOR DISCRETIONARY CLIENTS 
 
 
 
1.   KEY INFORMATION 
 
Name of person dealing (Note  CYGNET CAPITAL LLC 
1) 
Company dealt in              SYNDICATE ASSET MANAGEMENT PLC 
Class of relevant security    ORDINARY SHARES OF 0.2 PENCE 
to which the dealings being 
disclosed relate (Note 2) 
Date of dealing               22 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       21,632,800            N/A 
                              3.34% 
(2)  Derivatives (other  than N/A                   N/A 
options) 
 
(3) Options and agreements    N/A                   N/A 
to purchase/sell 
 
Total                         21,632,800 
                              3.34% 
 
(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       N/A                   N/A 
 
(2)  Derivatives (other  than N/A                   N/A 
options) 
 
(3) Options and agreements    N/A                   N/A 
to purchase/sell 
 
Total 
 
 
(c)  Rights to subscribe (Note 3) 
 
Class of relevant security:   Details 
 
ORDINARY SHARES OF 0.2 PENCE  SHARES SUBSCRIBED:  15,000,000 
 
 
3.   DEALINGS (Note 4) 
 
(a)  Purchases and sales 
 
Purchase/sale            Number of securities    Price per unit (Note 5) 
 
N/A                      N/A                     N/A 
 
     See additional information below. 
 
(b)  Derivatives transactions (other than options) 
 
Product       Long/short       Number of securities   Price per unit 
name,         (Note 6)         (Note 7)               (Note 5) 
e.g. CFD 
N/A           N/A              N/A                    N/A 
 
 
 
 
(c)  Options transactions in respect of existing securities 
 
(i)  Writing, selling, purchasing or varying 
 
Product       Writing,    Number of    Exerc   Type,    Expir   Option 
name,         selling,    securities   ise     e.g.     y       money 
e.g. call     purchasin   to which the price   American date    paid/rece 
option        g,          option               ,                ived per 
              varying     relates              European         unit 
              etc.        (Note 7)             etc.             (Note 5) 
N/A           N/A         N/A          N/A     N/A      N/A     N/A 
 
 
(ii) Exercising 
 
Product name, e.g. call  Number of securities    Exercise price per unit 
option                                           (Note 5) 
N/A                      N/A                     N/A 
 
 
 
(d)  Other dealings (including new securities) (Note 4) 
 
Nature of transaction    Details                 Price per unit (if 
(Note 8)                                         applicable) (Note 5) 
 
SUBSCRIPTION             This disclosure is      1 PENCE 
                         being made as a result 
                         of an agreement 
                         entered into by the 
                         person identified 
                         below as a 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 
                         "Resolutions"). 
 
                         The percentage holding 
                         set out 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. 
It is a condition of the subscription referred to in section 2(c) above 
that the subscriber agrees to vote in favour of the Resolutions (as 
defined in section 3(d) above).  A proxy to this effect has been sent to 
the Company's Registrars (the "Proxy").  The Proxy is in respect to 
6,632,800 ordinary shares and represents 4.82% of the total voting rights 
of the Company at this time.  The subscriber has also granted the 
directors of the Company a limited power of attorney to vote these shares 
in favour of the Resolutions if the subscriber does not vote in 
accordance with the Proxy. 
 
 
 
Is a Supplemental Form 8 attached? (Note 9)                 NO 
 
 
Date of disclosure                         26 MAY 2009 
Contact name                               BRUCE GARROW 
                                           COLLINS STEWART EUROPE LIMITED 
Telephone number                           [phone] 
Name of offeree/offeror with which         VICTOR HAGHANI 
associated 
Specify category and nature of associate   N/A 
status (Note 10) 
 
 
Notes 
 
The Notes on Form 8.1 can be viewed on the Takeover Panel's website at 
www.thetakeoverpanel.org.uk