10 May 2019 15:06
AMENDMENT
DECREASED EQUITY PURCHASES BY 515,589 TO 1,471,119
INCREASED EQUITY SALES BY 91,516 TO 1,776,767
REMOVED EQUITY SWAP SALES OF 1,704,323
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 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 | 1,471,119
1,776,767 | 5.4860 GBP
5.4820 GBP | 5.3900 GBP
5.3854 GBP |
Convertible Bond
| Purchase
Sale | 400,000
- | 149.4000 USD
- | 149.4000 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
| 3,729 3,193 631 12,445 2,550 8,674 2,112 40,368 12,932 2,245 687 2,183 59,637 41,291 270,000
484 2,983 17,131 10,156 2,646 5,928 30,370 10,380 3,516 34,724 4,866 4,392 326 23,373 18 22,607 64 617 195 172,500 4,884 116,588 4,017 57,500 6 1,764 250,000 | 5.4060 GBP 5.4070 GBP 5.4096 GBP 5.4120 GBP 5.4159 GBP 5.4163 GBP 5.4165 GBP 5.4200 GBP 5.4234 GBP 5.4260 GBP 5.4347 GBP 5.4484 GBP 5.4518 GBP 5.4520 GBP 7.0415 USD
5.3943 GBP 5.3978 GBP 5.3998 GBP 5.4045 GBP 5.4060 GBP 5.4088 GBP 5.4095 GBP 5.4119 GBP 5.4124 GBP 5.4132 GBP 5.4143 GBP 5.4190 GBP 5.4191 GBP 5.4197 GBP 5.4311 GBP 5.4338 GBP 5.4388 GBP 5.4403 GBP 5.4405 GBP 5.4420 GBP 5.4506 GBP 5.4520 GBP 5.4556 GBP 5.4711 GBP 5.4760 GBP 5.4860 GBP 7.0604 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: | 10 May 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.