29 Mar 2019 15:43
AMENDMENT
INCREASED CONVERTIBLE BOND PURCHASES BY 14,600,000 TO 23,600,000
INCREASED CONVERTIBLE BOND SALES BY 21,000,000 TO 30,000,000
INCREASED EQUITY PURCHASES BY 897,173 TO 10,969,147
ADDED EQUITY SWAP PURCHASES OF 446,100
ADDED EQUITY SWAP SALES OF 2,449,299
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: | 25 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
| Purchase
Sale | 10,969,147
7,386,768 | 5.5504 GBP
5.5500 GBP | 5.3315 GBP
5.3500 GBP |
Convertible Bond
| Purchase
Sale | 23,600,000
30,000,000 | 150.2600 USD
150.5000 USD | 147.2500 USD
149.7955 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 (GBP) |
Ordinary Share | Equity Swap | Long
Short
| 729 23,967 30,630 101,186 30,391 55,160 9,912 6,541 6,453 135,046 11,597 45,827 879 2,550 23,967 3,000 2,148 26,431 1,760 9,743 36,800 23,967 1,760 5,820 7,317 60,242 17,307 6,949 34,590 446,590
16,480 6,169 593 52,000 4,794 79,504 10,398 1,289 8,243 586 21,110 10,125 1,344 2,246 997 27,451 4,620 191,902 45,357 300,000 250,000 17,500 35,800 35,100 70,100 52,500 772,155 856,419 52,500 250,000 26,500 80,700 1,237,228 6,200 46,300 446,100 446,100 | 5.4095 5.4157 5.4285 5.4368 5.4406 5.4451 5.4485 5.4504 5.4532 5.4625 5.4634 5.4680 5.4822 5.4941 5.4993 5.5055 5.5099 5.5105 5.5118 5.5134 5.5135 5.5138 5.5148 5.5157 5.5255 5.5405 5.5417 5.5496 5.5498 5.5500
5.4104 5.4344 5.4385 5.4415 5.4440 5.4480 5.4601 5.4836 5.4843 5.4864 5.4872 5.4905 5.5064 5.5070 5.5102 5.5134 5.5167 5.5500 5.5504 7.0477 7.0498 7.1292 7.1333 7.1547 7.1758 7.1774 7.1795 7.1950 7.2016 7.2103 7.2554 7.2738 7.2804 7.2898 7.2899 7.3137 9.6379 |
(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: | 29 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.