17 Sep 2008 17:38
Advent Capital (Holdings) PLC
("Advent" or the "Company")
Notification of major interests in shares
Advent Capital (Holdings) PLC announces that it received the following notification pursuant to the Disclosure and Transparency Rules.
TR-1: NOTIFICATION OF MAJOR INTERESTS IN SHARES
1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: Advent Capital (Holdings) PLC
2. Reason for the notification:
An acquisition or disposal of voting rights
3. Full name of person(s) subject to the notification obligation:
Fairfax Financial Holdings Limited and:
CRC (Bermuda) Reinsurance Limited
United States Fire Insurance Company
TIG Insurance Company
Clearwater Insurance Company
Odyssey America Reinsurance Corporation
(each a group company)
4. Full name of shareholder(s) (if different from 3):
See section 9
5. Date of the transaction (and date on which the threshold is crossed or reached if different): 11 September 2008.
6. Date on which issuer notified: 17 September 2008.
7. Threshold(s) that is/are crossed or reached: Fairfax group companies' holding 58.52%.
Individual holdings giving rise to a notified obligation:
Fairfax Financial Holdings Limited: 12% threshold
CRC (Bermuda) Reinsurance Limited: 11% threshold
United States Fire Insurance Company: 10% threshold
TIG Insurance Company: 7% threshold
Clearwater Insurance Company: 5% threshold
Odyssey America Reinsurance Corporation: 5% threshold
8. Notified details:
| A: Voting rights attached to shares | |||||||
| Class/type of shares (if possible using the ISIN CODE) | Situation previous to the triggering transaction | Resulting situation after the triggering transaction | |||||
| Number of Shares | Number of voting rights | Number of shares | Number of voting rights | % of voting rights | |||
| Direct | Indirect | Direct | Indirect | ||||
| GB00B2QBXL27 | 18,076,608 | 44.46% | 23,792,120 | 5,264,653 | 18,527,467 | 12.95% | 45.57% |
| B: Financial Instruments | ||||
| Resulting situation after the triggering transaction | ||||
| Type of financial Instrument | Expiration date | Exercise/Conversion Period/Date | Number of voting rights that may be acquired if the instrument is exercised/converted | % of voting rights |
| Total (A+B) | |
| Number of voting rights | % of voting rights |
| 23,792,120 | 58.52% |
| The indirect shareholding is held through the Fairfax Financial Holdings Limited group of companies as set out below | ||
| Company | No. of voting rights | % of voting rights |
| CRC (Bermuda) Reinsurance Limited | 4,689,091 | 11.53 |
| United States Fire Insurance Company | 4,066,948 | 10.00 |
| The North River Insurance Company | 249,955 | 0.62 |
| Fairmont Specialty Insurance Company | 1,607,746 | 3.96 |
| Fairmont Premier Insurance Company | 281,255 | 0.69 |
| Fairmont Insurance Company | 177,315 | 0.44 |
| TIG Insurance Company | 3,111,977 | 7.65 |
| Clearwater Insurance Company | 2,171,590 | 5.34 |
| Odyssey America Reinsurance Corporation | 2,171,590 | 5.34 |
| Total | 18,527,467 | 45.57 |
Proxy Voting:
10. Name of the proxy holder: N/A
11. Number of voting rights proxy holder will cease to hold: N/A
12. Date on which proxy holder will cease to hold voting rights: N/A
13. Additional information:
None
14. Contact name: Paula Sawyers
15. Contact telephone number: 00 1 416 367 4946
17 September 2008
For further information please contact:
| Advent Capital (Holdings) PLC | Tel: 020 7743 8200 | |
| Keith Thompson | ||
| Chief Operating Officer | ||
| Neil Ewing | Tel: 020 7743 8250 | |
| Investor Relations | ||
| Fox-Pitt, Kelton | Tel: 020 7663 6000 | |
| Simon Law | ||
| Jonny Franklin-Adams | ||
| Pelham Public Relations | Tel: 020 7743 6362 | |
| Polly Fergusson | ||
| Damian Beeley |