18 Apr 2019 15:51
AMENDMENT
INCREASED EQUITY PURCHASES BY 252,610 TO 3,364,577
INCREASED CONVERTIBLE BOND PURCHASES BY 3,600,000 TO 4,800,000
ADDED EQUITY SWAP SALES OF 2,100
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: | 11 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 | 3,364,577
2,273,792 | 5.4500 GBP
5.4720 GBP | 5.4121 GBP
5.4140 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
Sale | 4,800,000
5,400,000 | 149.3750 USD
149.5000 USD | 149.2500 USD
149.5000 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
| 31,829 275 4,870 1,875 310 3,424 11,542 1,209 15,585 5,443 1,653
39,565 4,242 2,989 2,163 24,960 3,330 5,939 80 1,300 28,933 3,899 13,684 575 363,418 19,189 4,179 10,197 35,157 5,802 416 10,165 528 7,808 2,100 | 5.4142 GBP 5.4160 GBP 5.4292 GBP 5.4297 GBP 5.4298 GBP 5.4300 GBP 5.4322 GBP 5.4336 GBP 5.4347 GBP 5.4348 GBP 5.4360 GBP
5.4217 GBP 5.4227 GBP 5.4231 GBP 5.4271 GBP 5.4300 GBP 5.4301 GBP 5.4302 GBP 5.4305 GBP 5.4312 GBP 5.4319 GBP 5.4325 GBP 5.4327 GBP 5.4331 GBP 5.4354 GBP 5.4359 GBP 5.4363 GBP 5.4364 GBP 5.4373 GBP 5.4375 GBP 5.4381 GBP 5.4386 GBP 5.4411 GBP 5.4429 GBP 7.1071 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.