21 Mar 2019 11:43
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: | Morgan Stanley & Co. International 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: | Consortium comprising of Apax Partners LLP and others |
(d) Date dealing undertaken: | 20 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" | No |
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 |
Convertible Bond | PURCHASES | 8,600,000 | 142.7500 USD | 138.5000 USD |
Convertible Bond | SALES | 4,000,000 | 143.5000 USD | 139.0000 USD |
EUR 0.0005 ordinary | PURCHASES | 5,690,539 | 5.1600 GBP | 4.9530 GBP |
EUR 0.0005 ordinary | SALES | 4,514,745 | 5.1640 GBP | 4.9530 GBP |
EUR 0.0005 ordinary | PURCHASES | 731,776 | 6.8209 USD | 6.6825 USD |
EUR 0.0005 ordinary | SALES | 1,549,305 | 6.7447 USD | 6.7371 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 |
EUR 0.0005 ordinary | CFD | LONG | 60,939 | 4.3780 GBP |
EUR 0.0005 ordinary | CFD | LONG | 60,939 | 4.3780 GBP |
EUR 0.0005 ordinary | CFD | LONG | 218,335 | 4.9530 GBP |
EUR 0.0005 ordinary | CFD | LONG | 8,334 | 4.9530 GBP |
EUR 0.0005 ordinary | CFD | LONG | 15,266 | 4.9530 GBP |
EUR 0.0005 ordinary | CFD | LONG | 7,800 | 5.0240 GBP |
EUR 0.0005 ordinary | CFD | LONG | 8,000 | 5.0300 GBP |
EUR 0.0005 ordinary | CFD | LONG | 119 | 5.0360 GBP |
EUR 0.0005 ordinary | CFD | LONG | 5,000 | 5.0377 GBP |
EUR 0.0005 ordinary | CFD | LONG | 5,000 | 5.0400 GBP |
EUR 0.0005 ordinary | CFD | LONG | 5,000 | 5.0500 GBP |
EUR 0.0005 ordinary | CFD | LONG | 56,500 | 5.0618 GBP |
EUR 0.0005 ordinary | CFD | LONG | 1,156 | 5.0661 GBP |
EUR 0.0005 ordinary | CFD | LONG | 301,666 | 5.0713 GBP |
EUR 0.0005 ordinary | CFD | LONG | 5,000 | 5.0800 GBP |
EUR 0.0005 ordinary | CFD | LONG | 886,083 | 5.0845 GBP |
EUR 0.0005 ordinary | CFD | LONG | 431 | 5.0860 GBP |
EUR 0.0005 ordinary | CFD | LONG | 3,008 | 5.0861 GBP |
EUR 0.0005 ordinary | CFD | LONG | 182,825 | 5.0861 GBP |
EUR 0.0005 ordinary | CFD | LONG | 1,681 | 5.0869 GBP |
EUR 0.0005 ordinary | CFD | LONG | 6,000 | 5.0928 GBP |
EUR 0.0005 ordinary | CFD | LONG | 3,000 | 5.0940 GBP |
EUR 0.0005 ordinary | CFD | LONG | 5,000 | 5.0940 GBP |
EUR 0.0005 ordinary | CFD | LONG | 25,799 | 5.0951 GBP |
EUR 0.0005 ordinary | CFD | LONG | 10,000 | 5.0957 GBP |
EUR 0.0005 ordinary | CFD | LONG | 500 | 5.0960 GBP |
EUR 0.0005 ordinary | CFD | LONG | 3,000 | 5.0960 GBP |
EUR 0.0005 ordinary | CFD | LONG | 3,000 | 5.0980 GBP |
EUR 0.0005 ordinary | CFD | LONG | 1,000 | 5.0980 GBP |
EUR 0.0005 ordinary | CFD | LONG | 3,000 | 5.0980 GBP |
EUR 0.0005 ordinary | CFD | LONG | 25,000 | 5.1000 GBP |
EUR 0.0005 ordinary | CFD | LONG | 25,000 | 5.1000 GBP |
EUR 0.0005 ordinary | CFD | LONG | 342,047 | 5.1072 GBP |
EUR 0.0005 ordinary | CFD | LONG | 10,000 | 5.1100 GBP |
EUR 0.0005 ordinary | CFD | LONG | 48,902 | 5.1125 GBP |
EUR 0.0005 ordinary | CFD | LONG | 10,000 | 5.1140 GBP |
EUR 0.0005 ordinary | CFD | LONG | 1,000 | 5.1220 GBP |
EUR 0.0005 ordinary | CFD | LONG | 5,926 | 5.1220 GBP |
EUR 0.0005 ordinary | CFD | LONG | 99,203 | 5.1220 GBP |
EUR 0.0005 ordinary | CFD | LONG | 5,869 | 5.1284 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 60,939 | 4.3780 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 10 | 4.9520 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 57,236 | 4.9530 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 58,480 | 4.9530 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 81,347 | 5.0077 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 2,500 | 5.0360 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 9,299 | 5.0365 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 8,903 | 5.0366 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 20,537 | 5.0398 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 5,255 | 5.0411 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 26,265 | 5.0432 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 228,560 | 5.0434 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 120,237 | 5.0438 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 127,093 | 5.0480 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 6,000 | 5.0500 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 12,359 | 5.0503 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 85,343 | 5.0503 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 29,151 | 5.0536 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 51,260 | 5.0714 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 2,799 | 5.0754 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 24,529 | 5.0756 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 18,200 | 5.0773 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 53,168 | 5.0795 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 10,000 | 5.0798 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 185,833 | 5.0849 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 2,867 | 5.0874 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 300 | 5.0883 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 404 | 5.0953 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 5,869 | 5.0975 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 93 | 5.1000 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 12 | 5.1006 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 17,454 | 5.1010 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 7,506 | 5.1010 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 16,757 | 5.1020 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 26,026 | 5.1025 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 2,604 | 5.1044 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 182,825 | 5.1058 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 160,423 | 5.1058 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 6,716 | 5.1090 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 6,000 | 5.1160 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 10,843 | 5.1459 GBP |
EUR 0.0005 ordinary | CFD | LONG | 91 | 5.0885 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 39,700 | 5.1109 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 80,400 | 5.1109 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 210,900 | 5.1109 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 150,000 | 6.6752 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 122,557 | 6.7366 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 34,037 | 6.7366 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 318,526 | 6.7366 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 20,121 | 6.7366 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 140,157 | 6.7366 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 43,323 | 6.7366 GBP |
EUR 0.0005 ordinary | CFD | SHORT | 740,000 | 6.7367 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 |
N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
(ii) Exercise
Class of relevant security | Product description e.g. call option | Exercising/ exercised against | Number of securities | Exercise price per unit |
N/A | N/A | N/A | N/A | N/A |
(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) |
N/A | N/A | N/A | N/A |
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: | 21 MARCH 2019
|
Contact name: | Craig Horsley
|
Telephone number: | +44(141) 245 7736
|
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.