AVN.L Regulatory News (AVN)

20 Apr 2007 17:38

Avanti Communications Group Plc20 April 2007 TR-1(i): notification of major interests in shares 1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached(1): Avanti Communications Group plc 2. Reason for the notification (please tick the appropriate box or boxes) An acquisition or disposal of voting rights ( X ) An acquisition or disposal of financial instruments ( )which may result in the acquisition of shares already issued to which voting rights are attached An event changing the breakdown of voting rights ( ) Other (please specify): ( ) 3. Full name of person(s) subject to the notification obligation(1): North Atlantic Value LLP (as investment advisor/manager) 4. Full name of shareholder(s) (if different from 3.)(1): 5. Date of the transaction (and date on which the threshold is crossed or reached if different)(1): 16 April 2007 6. Date on which issuer notified: 19 April 2007 7. Threshold(s) that is/are crossed or reached: Above 5% 8. Notified details: A: Voting rights attached to shares Class/type of shares Situation previous to the Triggeringif possible using the transaction (vi) ISIN CODE Number of shares Number of voting Rights (viii) Ordinary Shares B1VCNQ8 0 0 Resulting situation after the triggering transaction Class/type of shares Number of shares Number of voting rights % of voting rights (ix)if possible using the ISIN CODE Direct Direct (x) Indirect (xi) Direct Indirect Ordinary Shares B1VCNQ8 1,816,613 1,816,613 7.07% B: Financial Instruments Resulting situation after the triggering transaction xii Type of Expiration Exercise/ Number of voting rights that may % offinancial date xiii Conversion be acquired if the instrument is votinginstrument Period/ Date exercised/ converted. rights xiv Total (A+B) Number of voting rights % of voting rights 1,816,613 shares 7.07% 9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable xv: Not Applicable 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: The voting rights disclosed above were acquired by North Atlantic Value LLP as a result of the demerger of Avanti Communications Group plc from Avanti Screenmedia Group plc. 14. Contact name: Bonita Guntrip 15. Contact telephone number: 020 7747 5681 Notes to the Forms (i) This form is to be sent to the issuer or underlying issuer and to be filedwith the competent authority. (ii) Either the full name of the legal entity or another method for identifyingthe issuer or underlying issuer, provided it is reliable and accurate. (iii) This should be the full name of (a) the shareholder; (b) the personacquiring, disposing of or exercising voting rights in the cases provided for inDTR5.2.1 (b) to (h); (c) all the parties to the agreement referred to inDTR5.2.1 (a), or (d) the direct or indirect holder of financial instrumentsentitled to acquire shares already issued to which voting rights are attached,as appropriate. In relation to the transactions referred to in points DTR5.2.1 (b) to (h), thefollowing list is provided as indication of the persons who should be mentioned: - in the circumstances foreseen in DTR5.2.1 (b), the person that acquires thevoting rights and is entitled to exercise them under the agreement and thenatural person or legal entity who is transferring temporarily for considerationthe voting rights; - in the circumstances foreseen in DTR 5.2.1 (c), the person holding thecollateral, provided the person or entity controls the voting rights anddeclares its intention of exercising them, and person lodging the collateralunder these conditions; - in the circumstances foreseen in DTR5.2.1(d), the person who has a lifeinterest in shares if that person is entitled to exercise the voting rightsattached to the shares and the person who is disposing of the voting rights whenthe life interest is created; - in the circumstances foreseen in DTR5.2.1 (e), the parent undertaking and,provided it has a notification duty at an individual level under DTR 5.1, underDTR5.2.1 (a) to (d) or under a combination of any of those situations, thecontrolled undertaking; - in the circumstances foreseen in DTR5.2.1 (f), the deposit taker of theshares, if he can exercise the voting rights attached to the shares depositedwith him at his discretion, and the depositor of the shares allowing the deposittaker to exercise the voting rights at his discretion; - in the circumstances foreseen in DTR5.2.1 (g), the person that controls thevoting rights; - in the circumstances foreseen in DTR5.2.1 (h), the proxy holder, if he canexercise the voting rights at his discretion, and the shareholder who has givenhis proxy to the proxy holder allowing the latter to exercise the voting rightsat his discretion. (iv) Applicable in the cases provided for in DTR 5.2.1 (b) to (h). This shouldbe the full name of the shareholder who is the counterparty to the naturalperson or legal entity referred to in DTR5.2. (v) The date of the transaction should normally be, in the case of an onexchange transaction, the date on which the matching of orders occurs; in thecase of an off exchange transaction, date of the entering into an agreement. The date on which threshold is crossed should normally be the date on which theacquisition, disposal or possibility to exercise voting rights takes effect (seeDTR 5.1.1R (3)). For passive crossings, the date when the corporate event tookeffect. (vi) Please refer to the situation disclosed in the previous notification, Incase the situation previous to the triggering transaction was below 3%, pleasestate 'below 3%'. (vii) If the holding has fallen below the minimum threshold , the notifyingparty should not be obliged to disclose the extent of the holding, only that thenew holding is less than 3%. For the case provided for in DTR5.2.1(a), there should be no disclosure ofindividual holdings per party to the agreement unless a party individuallycrosses or reaches an Article 9 threshold. This applies upon entering into,introducing changes to or terminating an agreement. (viii) Direct and indirect (ix) In case of combined holdings of shares with voting rights attached 'directholding' and voting rights 'indirect holdings', please split the voting rightsnumber and percentage into the direct and indirect columns-if there is nocombined holdings, please leave the relevant box blank. (x) Voting rights to shares in respect of which the notifying party is a directshareholder (DTR 5.1) (xi) Voting rights held by the notifying party as an indirect shareholder (DTR5.2.1) (xii) If the holding has fallen below the minimum threshold, the notifying partyshould not be obliged to disclose the extent of the holding, only that the newholding is below 3%. (xiii) date of maturity / expiration of the finical instrument i.e. the datewhen the right to acquire shares ends. (xiv) If the financial instrument has such a period-please specify the period-for example once every three months starting from the (date) (xv) The notification should include the name(s) of the controlled undertakingsthrough which the voting rights are held. The notification should also includethe amount of voting rights and the percentage held by each controlledundertaking, insofar as individually the controlled undertaking holds 5% ormore, and insofar as the notification by the parent undertaking is intended tocover the notification obligations of the controlled undertaking. (xvi ) This annex is only to be filed with the competent authority. (xvii) Whenever another person makes the notification on behalf of theshareholder or the natural person/legal entity referred to in DTR5.2 and DTR5.3 This information is provided by RNS The company news service from the London Stock Exchange