18 Apr 2019 15:50
AMENDMENT
INCREASED EQUITY PURCHASES BY 23,898 TO 6,194,953
DECREASED EQUITY SALES BY 1,078,485 TO 6,015,663
ADDED EQUITY SWAP PURCHASES OF 65
ADDED EQUITY SWAP SALES OF 58,698
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: | 03 April 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
| Purchase
Sale | 6,194,953
6,015,663 | 5.5037 GBP
5.4873 GBP | 5.4120 GBP
5.4100 GBP |
Class of relevant security | Purchases/ sales
| Total number of securities | Highest price per unit paid/received | Lowest price per unit paid/received |
Convertible Bond | Purchase | 400,000 | 149.2400 USD | 149.2400 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
| 22,520 5,970 142,143 84,238 6,831 14,362 80,602 417 9,800 2,215 2,850,390 65
207 25,635 15,471 1,699 1,000 132,159 3,987 86,660 6,383 17,142 12,243 5,891 156 58 8,443 73,760 9 1,467 1,520,747 1,387 40,447 7,460 507 1,168 1,386 173,647 34,800 34,800 120,000 3,898 | 5.4146 GBP 5.4178 GBP 5.4180 GBP 5.4201 GBP 5.4250 GBP 5.4274 GBP 5.4326 GBP 5.4335 GBP 5.4341 GBP 5.4356 GBP 5.4400 GBP 7.1510 USD
5.4180 GBP 5.4182 GBP 5.4215 GBP 5.4225 GBP 5.4240 GBP 5.4275 GBP 5.4291 GBP 5.4293 GBP 5.4301 GBP 5.4310 GBP 5.4313 GBP 5.4319 GBP 5.4320 GBP 5.4334 GBP 5.4340 GBP 5.4343 GBP 5.4345 GBP 5.4379 GBP 5.4400 GBP 5.4402 GBP 5.4406 GBP 5.4412 GBP 5.4444 GBP 5.4466 GBP 5.4484 GBP 5.4820 GBP 7.1402 USD 7.1408 USD 7.1536 USD 7.1725 USD |
(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" |
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" |
None
|
Date of disclosure: | 18 April 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.