12 Sep 2019 16:55
AMENDMENT
INCREASED EQUITY PURCHASES BY 248,042 TO 2,662,509
INCREASED EQUITY SALES BY 1,468,327 TO 2,571,477
ADDED EQUITY SWAP PURCHASES OF 1,299,283
ADDED EQUITY SWAP SALES OF 248,042
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: | 30 August 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 | 2,662,509
2,571,477 | 6.0463 GBP
6.0420 GBP | 5.9806 GBP
5.9260 GBP |
(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
| 3,448 6,113 186 1,352 14,439 50,860 23,181 149 545 18,392 16,794 28,160 9,608 649,283 650,000
186 12,637 1,967 1,420 49,469 63,522 38,864 33,426 1,523 6,732 144 278,398 4,863 1,000,000 414 1,343 37 248,042 | 5.9999 GBP 6.0132 GBP 6.0162 GBP 6.0213 GBP 6.0218 GBP 6.0238 GBP 6.0255 GBP 6.0260 GBP 6.0268 GBP 6.0269 GBP 6.0297 GBP 6.0317 GBP 6.0397 GBP 7.3393 USD 7.3407 USD
5.9806 GBP 6.0121 GBP 6.0175 GBP 6.0194 GBP 6.0217 GBP 6.0259 GBP 6.0261 GBP 6.0266 GBP 6.0280 GBP 6.0290 GBP 6.0340 GBP 6.0400 GBP 6.0463 GBP 7.2821 USD 7.3157 USD 7.3158 USD 7.3159 USD 7.3473 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 |
Ordinary Share |
(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: | 12 September 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.