Brit PLC TR-1: Notification of Major Interest in Shares (4836O)

TIDMBRIT

RNS Number : 4836O

Brit PLC

28 May 2015

 
 TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES(i) 
-------------------------------------------------- 
 
 
 
 1. Identity of the issuer or                            Brit PLC 
  the underlying 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                        ü 
-------------------------------------------------------  --------------------------- 
 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)                                Fairfax Financial Holdings 
  subject to the                                                             Limited 
  notification obligation: 
  (iii) 
------------------------------------------------------  ---------------------------- 
 4. Full name of shareholder(s)                                      FFHL Group Ltd. 
  (if different from 3.):(iv) 
------------------------------------------------------  ---------------------------- 
 5. Date of the transaction                                              26 May 2015 
  and date on 
  which the threshold is 
  crossed or 
  reached: (v) 
------------------------------------------------------  ---------------------------- 
 6. Date on which issuer                                                 27 May 2015 
  notified: 
------------------------------------------------------  ---------------------------- 
 7. Threshold(s) that is/are 
  crossed or 
  reached: (vi, vii)                                                             92% 
------------------------------------------------------  ---------------------------- 
 
 
 
 8. Notified details: 
---------------------------------------------------------------------------------------------------------------------- 
 A: Voting rights attached to shares (viii, ix) 
---------------------------------------------------------------------------------------------------------------------- 
 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        0                 0                  Nil             Nil        372,173,871   Nil%          92.93% 
               ----------------  -----------------  --------------  ---------  ------------  ------------  ----------- 
 ISIN 
 GB00BKRV3L73 
-------------      ------------    -------------      ------------    -------  ------------      --------    --------- 
 
 B: Qualifying Financial Instruments 
---------------------------------------------------------------------------------------------------------------------- 
 Resulting situation after the triggering transaction 
---------------------------------------------------------------------------------------------------------------------- 
 Type of            Expiration      Exercise/                          Number of voting           % of voting 
 financial           date            Conversion                         rights that                rights 
 instrument          (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 
----------------------------------------------------  ---------------------------------------------------------------- 
 372,173,871                                           92.93% 
----------------------------------------------------  ---------------------------------------------------------------- 
 
 
 
 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 Brit PLC are subject to a takeover 
   offer made by FFHL Group Ltd. (the Offer), the full 
   terms and conditions of which were published in an offer 
   document on 16 March 2015 (the Offer Document). FFHL 
   Group Ltd. is a wholly owned entity of Fairfax Financial 
   Holdings Limited. 
 
   The triggering event is the Offer being declared unconditional 
   in all respects on 26 May 2015, and as such FFHL Group 
   Ltd. is now unconditionally contracted to acquire 372,173,871 
   ordinary shares in Brit PLC. Accordingly, FFHL Group 
   Ltd. is entitled to direct the exercise of 92.93 % of 
   the voting rights in Brit PLC. 
 
 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: 
-----------------------------------------------------------------  --------------------------- 
 14. Contact name:                                                      Paul Rivett, President 
                                                                       Derek Bulas, AVP, Legal 
-----------------------------------------------------------------  --------------------------- 
 15. Contact telephone number:                                            Tel: [phone] 
-----------------------------------------------------------------  --------------------------- 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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