14 Dec 2016 10:43
TR-1: NOTIFICATION OF MAJOR INTERESTS IN SHARES
1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:
Low & Bonar PLC
2. Reason for the notification (please place an X inside the appropriate bracket/s):
An acquisition or disposal of voting rights: ( )
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached: ( )
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments: ( )
An event changing the breakdown of voting rights: ( X )
Other (please specify):
3. Full name of person(s) subject to the notification obligation:
STERLING STRATEGIC VALUE LIMITED (TO BE RENAMED STERLING STRATEGIC VALUE FUND S.A. WITH EFFECT FROM 1 JANUARY 2017)
4. Full name of shareholder(s) (if different from 3.):
N/A
5. Date of the transaction (and date on which the threshold is crossed or reached if different):
12 December 2016
6. Date on which issuer notified:
13 December 2016
7. Threshold(s) that is/are crossed or reached
Voting rights of Sterling Strategic Value Limited unchanged - above 6%
8. Notified details:
A: Voting rights attached to shares
Class/type of shares if possible using the ISIN CODE | Situation previous to the Triggering transaction | ||
GB0005363014 | Number of shares | Number of voting Rights | |
21,262,070 21,262,070 | |||
Resulting situation after the triggering transaction
Class/type of shares if possible using the ISIN CODE | Number of shares |
| Number of voting rights |
| % of voting rights | |||||
| Direct |
| Indirect |
| Direct | Indirect | ||||
21,262,070 | 21,262,070 | N/A | 6.4568% | N/A | ||||||
GB0005363014 | ||||||||||
| ||||||||||
B: Financial Instruments
Resulting situation after the triggering transaction
Type of financial instrument | Expiration Date | Exercise/Conversion Period/ Date | Number of voting rights that may be acquired if the instrument is exercised/ converted. | % of voting rights |
N/A | N/A | N/A | N/A | N/A |
C: Financial Instruments with similar economic effect to Qualifying Financial Instruments
Resulting situation after the triggering transaction
Type of financial instrument | Exercise price | Expiration Date | Exercise/ Conversion Period | Number of voting rights instrument refers to | % of voting rights
| |
Nominal | Delta | |||||
N/A | N/A | N/A | N/A | N/A | N/A | N/A |
Total (A+B+C)
Number of voting rights | % of voting rights
|
21,262,070 | 6.4568% |
9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable:
Until 12 December 2016, Gritlot Limited controlled the majority of voting rights of Sterling Strategic Value Limited. Dr. Tito Tettamanti controls 100% of the voting rights of Gritlot Limited.
With effect from 12 December 2016 Gritlot Limited ceased to be a controlling shareholder of Sterling Strategic Value Limited. Therefore, with effect from 12 December 2016, neither Dr. Tito Tettamanti nor Gritlot Limited has a notifiable indirect interest in Low & Bonar PLC.
Proxy Voting:
10. Name of the proxy holder:
N/A
11. Number of voting rights proxy holder will cease to hold:
N/A
12. Date on which proxy holder will cease to hold voting rights:
N/A
13. Additional information:
This disclosure has been calculated based on issued share capital amount of 329,298,026
14. Contact name:
Stuart Haydon, Company Secretary, Low & Bonar PLC
15. Contact telephone number:
0207 535 3180