26 May 2009 14:40
FORM 8.3
DEALINGS BY PERSONS WITH INTERESTS IN SECURITIES REPRESENTING 1% OR MORE
(Rule 8.3 of the City Code on Takeovers and Mergers)
1. KEY INFORMATION
| Name of person dealing (Note 1) | Progressive European Markets Limited |
| Company dealt in | Bramdean Alternatives Limited |
| Class of relevant security to which the dealings being disclosed relate (Note 2) | Ordinary Shares |
| Date of dealing | 22nd 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 | (US dollar) 2,325,952
(GBP) Nil | (2.96%)
(0%)
| Nil
Nil | |
| (2) Derivatives (other than options) | Nil |
| Nil | |
| (3) Options and agreements to purchase/sell | Nil |
| Nil | |
| Total | 2,325,952 (voting) (0.89%) | Nil | ||
| (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 | Nil | Nil | ||
| (2) Derivatives (other than options) | Nil | Nil | ||
| (3) Options and agreements to purchase/sell | Nil | Nil | ||
| Total | Nil | Nil | ||
(c) Rights to subscribe (Note 3)
| Class of relevant security: | Details |
| None |
3. DEALINGS (Note 4)
(a) Purchases and sales
| Purchase/sale | Number of securities | Price per unit (Note 5) |
| None |
(b) Derivatives transactions (other than options)
| Product name, e.g. CFD | Long/short (Note 6) | Number of securities (Note 7) | Price per unit (Note 5) |
| None |
(c) Options transactions in respect of existing securities
(i) Writing, selling, purchasing or varying
| Product name, e.g. call option | Writing, selling, purchasing, varying etc. | Number of securities to which the option relates (Note 7) | Exercise price | Type, e.g. American, European etc. | Expiry date | Option money paid/received per unit (Note 5) |
| None |
(ii) Exercising
| Product name, e.g. call option | Number of securities | Exercise price per unit (Note 5) |
| None |
(d) Other dealings (including new securities) (Note 4)
| Nature of transaction (Note 8) | Details | Price per unit (if applicable) (Note 5) |
| Conversion | 1,350,335 GBP shares converted into USD shares | Conversion ratio of 1.7225 US dollar shares for every one GBP share |
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.
None
| Is a Supplemental Form 8 attached? (Note 9) | NO |
| Date of disclosure | 26 May 2009 |
| Contact name | Mr Anthony Lee |
| Telephone number | 020 7490 4355 |
| If a connected EFM, name of offeree/offeror with which connected | Not connected |
| If a connected EFM, state nature of connection (Note 10) | Not connected |
Notes
The Notes on Form 8.3 can be viewed on the Takeover Panel's website at www.thetakeoverpanel.org.uk