21 Mar 2019 10:18
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: | 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" | 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 | 6,422,208
3,409,468 | 5.1600 GBP
5.1571 GBP | 4.9530 GBP
4.9530 GBP |
Convertible Bond | Purchase
Sale | 32,600,000
29,600,000 | 143.0000 USD
143.0000 USD | 140.0000 USD
137.0000 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
| 109,449 45,558 23,538 770,530 955 123,883 6,472 34,063 3,687 246,171 2,218 3,678 2,540 34,711 6,010 13,451 51,930 1,302 7,730 5,132 103,803 18,991 2,679 18,384 5,498 2,262
218,335 93,390 8,298 4,362 599 6,010 948 871 20,550 33,355 4,003 75,368 897 9,743 152 11,972 23,710 2,874 48,016 184 55,652 799 131,787 12,257 2,259 955 77,085 909 476 5,818 414,425 565 4,520 4,710 25,191 915 | 4.9528 GBP 4.9530 GBP 5.0473 GBP 5.0806 GBP 5.0834 GBP 5.0901 GBP 5.0911 GBP 5.0932 GBP 5.0965 GBP 5.0966 GBP 5.0979 GBP 5.0982 GBP 5.0991 GBP 5.0992 GBP 5.0996 GBP 5.1000 GBP 5.1003 GBP 5.1040 GBP 5.1043 GBP 5.1053 GBP 5.1066 GBP 5.1129 GBP 5.1206 GBP 5.1228 GBP 5.1260 GBP 5.1314 GBP
4.9530 GBP 4.9531 GBP 4.9532 GBP 4.9905 GBP 5.0362 GBP 5.0435 GBP 5.0523 GBP 5.0622 GBP 5.0650 GBP 5.0656 GBP 5.0662 GBP 5.0666 GBP 5.0694 GBP 5.0700 GBP 5.0701 GBP 5.0704 GBP 5.0736 GBP 5.0774 GBP 5.0797 GBP 5.0802 GBP 5.0828 GBP 5.0840 GBP 5.0888 GBP 5.0895 GBP 5.0941 GBP 5.0961 GBP 5.0965 GBP 5.0984 GBP 5.1021 GBP 5.1022 GBP 5.1025 GBP 5.1081 GBP 5.1223 GBP 5.1290 GBP 5.1494 GBP 5.1512 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 |
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(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) |
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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" |
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(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" |
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| Date of disclosure: | 21 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.