26 Mar 2019 11:02
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 | 10,071,974
7,386,768 | 5.5504 GBP
5.5500 GBP | 5.3932 GBP
5.3500 GBP |
Convertible Bond
| Purchase
Sale | 9,000,000
9,000,000 | 150.2600 USD
150.2500 USD | 148.0000 USD
150.2500 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
| 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 34,590 490
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 4,620 157,029 45,357 17,500 35,100 70,100 52,500 700,000 853,647 52,500 80,700 652,229 6,200 46,300 | 5.4095 GBP 5.4157 GBP 5.4285 GBP 5.4368 GBP 5.4406 GBP 5.4451 GBP 5.4485 GBP 5.4504 GBP 5.4532 GBP 5.4625 GBP 5.4634 GBP 5.4680 GBP 5.4822 GBP 5.4941 GBP 5.4993 GBP 5.5055 GBP 5.5099 GBP 5.5105 GBP 5.5118 GBP 5.5134 GBP 5.5135 GBP 5.5138 GBP 5.5148 GBP 5.5157 GBP 5.5255 GBP 5.5405 GBP 5.5417 GBP 5.5496 GBP 5.5498 GBP 5.5500 GBP
5.4104 GBP 5.4344 GBP 5.4385 GBP 5.4415 GBP 5.4440 GBP 5.4480 GBP 5.4601 GBP 5.4836 GBP 5.4843 GBP 5.4864 GBP 5.4872 GBP 5.4905 GBP 5.5064 GBP 5.5070 GBP 5.5102 GBP 5.5134 GBP 5.5167 GBP 5.5500 GBP 5.5504 GBP 7.1292 GBP 7.1547 GBP 7.1758 GBP 7.1774 GBP 7.1795 GBP 7.1950 GBP 7.2016 GBP 7.2738 GBP 7.2804 GBP 7.2898 GBP 7.2899 GBP |
(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: | 26 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.