Watchstone Group PLC Holding(s) in Company (6955Y)

TIDMWTG

RNS Number : 6955Y

Watchstone Group PLC

23 August 2018

 
 TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES(i) 
 
 
 
 1. Identity of the issuer or the underlying                                            Watchstone Group 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 
------------------------------------------------------------------------------  ---------------------------- 
 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                              X 
  effect to qualifying financial instruments 
------------------------------------------------------------------------------  ---------------------------- 
 An event changing the breakdown of voting rights 
------------------------------------------------------------------------------  ---------------------------- 
 Other (please 
  specify): 
-------------------------------------------------------------------------  ---  ---------------------------- 
 3. Full name of person(s) subject                                               Polygon Global Partners LLP 
  to the                                                                               Reade Eugene Griffith 
  notification obligation: (iii) 
                                                                            -------------------------------- 
 4. Full name of shareholder(s)                                                                          N/A 
  (if different from 3.):(iv) 
                                                                            -------------------------------- 
 5. Date of the transaction and date                                                          22 August 2018 
  on 
  which the threshold is crossed 
  or 
  reached: (v) 
                                                                            -------------------------------- 
 6. Date on which issuer notified:                                                            23 August 2018 
                                                                            -------------------------------- 
 7. Threshold(s) that is/are crossed 
  or 
  reached: (vi, vii)                                                                                     23% 
                                                                            -------------------------------- 
 
 
 
 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) 
                    ------------   ------------   -------------  ---------  ----------  -----------  ---------- 
 
 
 
 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) 
                   -------------  -------------  --------------  ----------------------  ---------------------- 
 Contract for                                                     10,600,000              Nominal      Delta 
 difference 
 relating 
 to ordinary 
 shares 
 (GB00BYNBFN51) 
                   -------------  -------------  --------------  ----------------------  -----------  --------- 
                                                                                                       23.024% 
             -----------                                                                              --------- 
 
 Total (A+B+C) 
 Number of voting rights                            Percentage of voting rights 
                                                   ------------------------------------------------------------ 
 10,600,000                                         23.024% 
                                                   ------------------------------------------------------------ 
 
 
 
 9. Chain of controlled undertakings through which the voting rights and/or 
  the 
  financial instruments are effectively held, if applicable: (xxi) 
 
   Reade Griffith holds a majority of the voting rights in Polygon Global 
   Partners LLP. Consequently, Polygon Global Partners LLP is a "controlled 
   undertaking" in relation to Mr. Griffith. 
 
 Proxy Voting: 
 10. Name of the proxy holder:                                                                               N/A 
                                                                        ---------------------------------------- 
 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: 
                                                                        ---------------------------------------- 
 
                                                                         Polygon Global Partners LLP is the 
  13. Additional information:                                             investment manager to a fund, Polygon 
                                                                          European Equity Opportunity Master 
                                                                          Fund, and a separate managed account 
                                                                          that, between them, hold the positions 
                                                                          referred to in this notification. 
 14. Contact name:                                                                              Katharine Ostrow 
                                                                        ---------------------------------------- 
 15. Contact telephone number:                                                                 [phone] 
                                                                        ---------------------------------------- 
 
 

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August 23, 2018 05:39 ET (09:39 GMT)