30 Oct 2009 17:28
| For filings with the FSA include the annex For filings with issuer exclude the annex |
| TR-1: Notifications of Major Interests in Shares |
| 1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: | Development Securities Plc |
| 2. Reason for notification (yes/no) | |
| An acquisition or disposal of voting rights | X |
| An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached |
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| An event changing the breakdown of voting rights |
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| Other (please specify): Change to shares in issue |
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| 3. Full name of person(s) subject to notification obligation: | BT Pension Scheme Trustees Limited as trustee of the BT Pension Scheme. See Section 9 for further information. |
| 4. Full name of shareholder(s) (if different from 3): | N/A |
| 5. Date of transaction (and date on which the threshold is crossed or reached if different): |
28th October 2009
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| 6. Date on which issuer notified: | 30th October 2009
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| 7. Threshold(s) that is/are crossed or reached: |
3%
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| 8: Notified Details | |||||||
| A: Voting rights attached to shares | |||||||
| Class/type of shares If possible use ISIN code | Situation previous to the triggering transaction | Resulting situation after the triggering transaction | |||||
| Number of shares | Number of voting rights | Number of shares | Number of voting rights | Percentage of voting rights | |||
| Direct | Indirect | Direct | Indirect | ||||
| 0266846 ORD 50P B61GM79RFD | 2,410,844 | 2,410,844 | 0 | 0 | 2,538,334 | 0% | 3.086% |
| B: Financial Instruments
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| Resulting situation after the triggering transaction | ||||
| Type of financial instrument | Expiration date | Exercise/ conversion period/date | No. of voting rights that may be acquired (if the instrument exercised/converted) | Percentage of voting rights |
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| Total (A+B) | |
| Number of voting rights | Percentage of voting rights |
| 2,538,334 | 3.086% |
| 9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectively held, if applicable: |
| BT Pension Scheme Trustees Limited is the parent undertaking of Britel Fund Trustees Limited, which is the parent undertaking of Hermes Fund Managers Limited. Hermes Fund Managers Limited is the parent undertaking of: 1. Hermes Equity Ownership Services Limited (voting rights held in this issuer: 1.540%) 2. Hermes Investment Management Limited (voting rights held in this issuer: 1.546%) Please see Section 13 for further information. |
| Proxy Voting: | |
| 10. Name of proxy holder: | See Comment in Section 13. |
| 11. Number of voting rights proxy holder will cease to hold: | See Comment in Section 13. |
| 12. Date on which proxy holder will cease to hold voting rights: | See Comment in Section 13. |
| 13. Additional information: | Hermes Equity Ownership Services Limited hold the voting rights under a standing proxy contained in agreements for the provision of voting services to various underlying clients for the purposes of DTR 5.2.1(h), which includes all the shares owned directly by BT Pension Scheme. Hermes Investment Management Limited hold the voting rights under a standing proxy contained in investment management agreements with various underlying clients for the purpose of DTR 5.2.1(h) All voting rights held on behalf of the above entities are aggregated for the purposes of DTR 5.2.1(e). This disclosure is made by BT Pension Scheme Trustees Limited, which is the ultimate parent undertaking for the purposes of DTR 5.2.1(e).
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| 14 Contact name: | Bianca da Silva / Margaret Moss |
| 15. Contact telephone number: | 020 7680 2163 / 020 7680 2125 |