22 Mar 2019 11:29
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: | UBS Investment Bank, London |
(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: | Apex Partners LLP, consortium member. Consortium comprising Apax Partners LLP, Warburg Pincus International LLC, Canada Pension Plan Investment Board and Ontario Teachers' Pension Plan Board |
(d) Date dealing undertaken: | 21 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 |
EUR 0.0005 ordinary | Buy
| 12370831 | 5.128024 GBP | 5.00200 GBP |
EUR 0.0005 ordinary | Sell
| 10228353 | 5.128024 GBP | 5.00200 GBP |
Convertible Bond | Buy
| 1000000 | 138.25000 USD | 138.25000 USD |
Convertible Bond | Sell
| 1000000 | 139.00000 USD | 139.00000 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 | 2746 | 5.04 GBP |
EUR 0.0005 ordinary | CFD
| Long | 140251 | 5.06379719217688 GBP |
EUR 0.0005 ordinary | CFD
| Long | 24613 | 5.05670539958558 GBP |
EUR 0.0005 ordinary | CFD
| Long | 109035 | 5.0868 GBP |
EUR 0.0005 ordinary | CFD
| Long | 2893 | 5.07599738679571 GBP |
EUR 0.0005 ordinary | CFD
| Long | 716 | 5.07593655027933 GBP |
EUR 0.0005 ordinary | CFD
| Long | 792 | 5.071464 GBP |
EUR 0.0005 ordinary | CFD
| Long | 197 | 6.62239093 USD |
EUR 0.0005 ordinary | CFD
| Long | 617 | 5.05 GBP |
EUR 0.0005 ordinary | CFD
| Long | 2094 | 5.099369 GBP |
EUR 0.0005 ordinary | CFD
| Long | 21387 | 5.06364520503109 GBP |
EUR 0.0005 ordinary | CFD
| Long | 7690 | 5.0702 GBP |
EUR 0.0005 ordinary | CFD
| Long | 31541 | 5.07504205 GBP |
EUR 0.0005 ordinary | CFD
| Long | 53749 | 5.05954250311634 GBP |
EUR 0.0005 ordinary | CFD
| Long | 52703 | 5.05363991 GBP |
EUR 0.0005 ordinary | CFD
| Short | 75000 | 5.03508856 GBP |
EUR 0.0005 ordinary | CFD
| Short | 559 | 5.0501 GBP |
EUR 0.0005 ordinary | CFD
| Short | 4429 | 5.090747 GBP |
EUR 0.0005 ordinary | CFD
| Short | 5517 | 5.05271569 GBP |
EUR 0.0005 ordinary | CFD
| Short | 126 | 5.0872 GBP |
EUR 0.0005 ordinary | CFD
| Short | 21929 | 5.1 GBP |
EUR 0.0005 ordinary | CFD
| Short | 114 | 5.098738 GBP |
EUR 0.0005 ordinary | CFD
| Short | 39211 | 5.08733 GBP |
EUR 0.0005 ordinary | CFD
| Short | 1059 | 5.04237960339943 GBP |
EUR 0.0005 ordinary | CFD
| Short | 2941 | 5.04317579054743 GBP |
EUR 0.0005 ordinary | CFD
| Short | 350000 | 5.121522 GBP |
EUR 0.0005 ordinary | CFD
| Short | 1879 | 5.089443 GBP |
EUR 0.0005 ordinary | CFD
| Short | 63298 | 5.04734439 GBP |
EUR 0.0005 ordinary | CFD
| Short | 5882 | 5.04881179 GBP |
EUR 0.0005 ordinary | CFD
| Short | 2046680 | 5.0747 GBP |
Convertible Bond | CFD
| Short | 1000000 | 1.38432986 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: | 22 March 2019 |
| Contact name: | Wendy Dent |
| Telephone number: | +44 (0)207 568 1245 |
Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service and must also be emailed to the Takeover Panel at monitoring@disclosure.org.uk
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.