28 Mar 2019 11:37
FORM 8.5 (EPT/RI)
PUBLIC DEALING DISCLOSURE BY AN EXEMPT PRINCIPAL TRADER WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY
Rule 8.5 of the Takeover Code (the "Code")
1. KEY INFORMATION
(a) Name of exempt principal trader: | J.P. Morgan Securities Plc |
(b) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree | Inmarsat plc |
(c) Name of the party to the offer with which exempt principal trader is connected: | Financial Advisor to Inmarsat plc |
(d) Date dealing undertaken: | 27 March 2019 |
(e) In addition to the company in 1(b) above, is the exempt principal trader making disclosures in respect of any other party to this offer? If it is a cash offer or possible cash offer, state "N/A" | N/A |
2. DEALINGS BY THE EXEMPT PRINCIPAL TRADER
Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(b), copy table 2(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.
The currency of all prices and other monetary amounts should be stated.
(a) Purchases and sales
Class of relevant security | Purchases/ sales
| Total number of securities | Highest price per unit paid/received | Lowest price per unit paid/received |
Ordinary Share
Convertible Bond
| Purchase
Sale
Purchase
Sale | 1,404,317
1,374,515
3,600,000
4,000,000 | 5.5154 GBP
5.5164 GBP
150.2000 USD
150.6250 USD | 5.4700 GBP
5.4700 GBP
150.1000 USD
150.3750 USD |
(b) Cash-settled derivative transactions
Class of relevant security | Product description e.g. CFD | Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position | Number of reference securities | Price per unit |
Ordinary Share | Equity Swap | Long
Short
| 50,804 1,151 4,183 1,172 7,229 297 29,909 61,523 8,185 277,780 3,843 7,229 61,536 3,444 725 19,732 12,981 5,245 770 29,388 240 10,922 24,272 568 303 735 205
1,301 304 4,120 59,692 5,173 11,455 12,850 25,888 63,859 24,240 4,689 25,367 2,170 97,277 21,732 4,250 16,784 714 1,101 1,650 8,045 100,000 100,000 | 5.4900 GBP 5.4945 GBP 5.4954 GBP 5.4974 GBP 5.4995 GBP 5.4996 GBP 5.4997 GBP 5.5004 GBP 5.5006 GBP 5.5007 GBP 5.5010 GBP 5.5012 GBP 5.5016 GBP 5.5017 GBP 5.5018 GBP 5.5023 GBP 5.5036 GBP 5.5037 GBP 5.5038 GBP 5.5041 GBP 5.5061 GBP 5.5064 GBP 5.5065 GBP 5.5074 GBP 5.5100 GBP 7.2556 GBP 7.2557 GBP
5.4700 GBP 5.4706 GBP 5.4902 GBP 5.4903 GBP 5.4993 GBP 5.5006 GBP 5.5010 GBP 5.5017 GBP 5.5020 GBP 5.5021 GBP 5.5024 GBP 5.5029 GBP 5.5030 GBP 5.5031 GBP 5.5032 GBP 5.5033 GBP 5.5043 GBP 5.5062 GBP 5.5072 GBP 5.5082 GBP 5.5154 GBP 7.2770 GBP 7.2775 GBP |
(c) Stock-settled derivative transactions (including options)
(i) Writing, selling, purchasing or varying
Class of relevant security | Product description e.g. call option | Writing, purchasing, selling, varying etc. | Number of securities to which option relates | Exercise price per unit | Type e.g. American, European etc. | Expiry date | Option money paid/ received per unit |
(ii) Exercise
Class of relevant security | Product description e.g. call option | Exercising/ exercised against | Number of securities | Exercise price per unit |
|
(d) Other dealings (including subscribing for new securities)
Class of relevant security | Nature of dealing e.g. subscription, conversion | Details | Price per unit (if applicable) |
|
3. OTHER INFORMATION
(a) Indemnity and other dealing arrangements
Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the exempt principal trader making the disclosure and any party to the offer or any person acting in concert with a party to the offer: Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state "none" |
|
(b) Agreements, arrangements or understandings relating to options or derivatives
Details of any agreement, arrangement or understanding, formal or informal, between the exempt principal trader making the disclosure and any other person relating to: (i) the voting rights of any relevant securities under any option; or (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced: If there are no such agreements, arrangements or understandings, state "none" |
|
Date of disclosure: | 28 March 2019 |
Contact name: | Alwyn Basch |
Telephone number: | 020 7742 7407 |
Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.
The Panel's Market Surveillance Unit is available for consultation in relation to the Code's dealing disclosure requirements on +44 (0)20 7638 0129.
The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.