16 May 2019 16:01
AMENDMENT
INCREASED EQUITY PURCHASES BY 140,634 TO 5,220,681
DECREASED EQUITY SALES BY 455,601 TO 3,225,913
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: | 9 May 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 | 5,220,681
3,225,913 | 5.3360 GBP
5.3314 GBP | 5.2660 GBP
5.2480 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 | 1,000,000
- | 148.0000 USD
- | 148.0000 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
| 5,200 1,203 89,914 321 1,118 1,401 2,946 85 820 30,179 5,114 54,279 3,082 4,169 1,381 177 1,018
36,780 1,107 36,780 36,780 10,270 25,011 1,668 35,248 94,205 521 12,700 28,266 4,212 225,081 24,889 442 433,700 150,000 5,707 150,000 150,000 | 5.2682 GBP 5.2912 GBP 5.2980 GBP 5.2995 GBP 5.2997 GBP 5.2998 GBP 5.2999 GBP 5.3000 GBP 5.3039 GBP 5.3048 GBP 5.3057 GBP 5.3116 GBP 5.3119 GBP 5.3161 GBP 5.3170 GBP 5.3200 GBP 5.3238 GBP
5.2639 GBP 5.2665 GBP 5.2709 GBP 5.2724 GBP 5.2900 GBP 5.2903 GBP 5.2923 GBP 5.2996 GBP 5.3000 GBP 5.3005 GBP 5.3016 GBP 5.3036 GBP 5.3067 GBP 5.3113 GBP 5.3204 GBP 5.3220 GBP 5.3301 GBP 6.8603 USD 6.9106 USD 6.9111 USD 6.9260 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: | 16 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.