Rule 8 - Celltech
July 02 2004 - 5:10AM
UK Regulatory
RNS Number:4152A
Bear Stearns Intl. Trading Ltd
02 July 2004
FORM 8.1/8.3
Lodge with a RIS or Newstrack, if appropriate, and the Takeover Panel. Use
separate form for each class of securities in which dealings have been made.
Date of disclosure, 2 July 2004
DISCLOSURE UNDER RULES 8.1(a), 8.1(b)(i) AND 8.3
OF THE CITY CODE ON TAKEOVERS AND MERGERS
Date of dealing, 1 July 2004
Dealing in, Celltech Group Plc
(1) Class of securities (eg ordinary shares) Ordinary Shares
(2) Amount bought Amount sold Price per unit
987 GBP 5.48
In addition, Bear Stearns International Trading Limited has undertaken certain
CFD and Swap transactions (See below).
(3) Resultant total of the same class owned or controlled
(and percentage of class) 3,097,909 (1.116%)
(4) Party making disclosure Bear Stearns International Trading Limited.
(5) EITHER (a) Name of purchaser/vendor (Note 1) Bear Stearns International Trading Limited ...
OR (b) If dealing for discretionary client(s), name of fund management organisation
(6) Reason for disclosure (Note 2)
(a) associate of (i) offeror (Note 3) NO
(ii) offeree company NO
Specify which category or categories of associate (1-8 overleaf)
If category (8), explain................................................
(b) Rule 8.3 (ie disclosure because of ownership or control of 1% or
more of the class of relevant securities dealt in) YES
Signed, for and on behalf of the party named in (4) above.....................
(Also print name of signatory) James Step
Telephone and extension number 020 7516 5310
______________________________________
Note 1. Specify owner, not nominee or vehicle company. If relevant, also
identify controller of owner, eg where an owner normally acts on instructions of
a controller.
Note 2. Disclosure might be made for more than one reason; if so, state all
reasons.
Note 3. Specify which offeror if there is more than one.
Note 4. When an arrangement exists with any offeror, with the offeree company
or with an associate of any offeror or of the offeree company in relation to
relevant securities, details of such arrangement must be disclosed, as required
by Note 6 on Rule 8.
Note 5. It may be necessary, particularly when disclosing derivative
transactions, to append a sheet to this disclosure form so that all relevant
information can be given.
Note 6. In the case of an average price bargain, each underlying trade should
be disclosed.
Note 7. The resultant total percentage holding of the class of relevant security
is to be calculated by reference to the percentage held and in issue outside
treasury.
For full details of disclosure requirements, see Rule 8 of the Code. If in
doubt, contact the Panel on Takeovers and Mergers, Monitoring Section, Tel. No:
020 7638 0129. E-mail:monitoring@disclosure.org.uk
Bear Stearns International Trading Limited is the beneficial owner of 3,097,909
Celltech Group Plc ordinary shares. 420,940 of these shares are held to hedge
Contract for Differences ("CFD") or Equity Swap positions for clients.
A long CFD is a product where the client to whom the product is sold is taking a
long economic interest in the underlying share price such that the client can
realize a gain if the price of the underlying securities rises above the
reference price.
An Equity Swap is a product where an agreement between two counterparties sees
one party receive the return on an asset from the other party and makes a
payment to the other party based on a fixed or floating rate of interest. The
return can be either the price return or the total return (I.E. Including
dividends).
The control of voting rights in relation to the underlying shares used to hedge
the stock are wholly owned by Bear Stearns International Trading Limited.
The CFD contracts are open-ended and there is no rollover into new contracts.
Contracts For Difference/Equity Swaps
Product Name Type Date Executed Maturity Date BSIT Buy/Sell Underlying Number Reference Price CCY
of Shares
Celltech Open Short 14-May-04 01-Mar-05 SELL -354,885 4.2377 GBP
Equity Swap
Celltech Open Short 17-May-04 01-Mar-05 SELL -19,291 4.2834 GBP
Equity Swap
Celltech Open Long 17-May-04 29-Mar-05 BUY 9,243 4.3072 GBP
Equity Swap
Celltech Open Long 18-May-04 29-Mar-05 BUY 1,200 5.4296 GBP
Equity Swap
Celltech Open Short 18-May-04 01-Mar-05 SELL -12,470 5.4195 GBP
Equity Swap
Celltech Open Short 18-May-04 01-Mar-05 SELL -26,800 5.4222 GBP
Equity Swap
Celltech Open Long 18-May-04 29-Mar-05 BUY 110,300 5.4535 GBP
Equity Swap
Celltech Open Long 18-May-04 29-Mar-05 BUY 73,500 5.4535 GBP
Equity Swap
Celltech Open Short 18-May-04 01-Mar-05 SELL -12,110 5.4195 GBP
Equity Swap
Celltech Open Short 19-May-04 01-Mar-05 SELL -2,000 5.4148 GBP
Equity Swap
Celltech Open Long 19-May-04 29-Mar-05 BUY 1,000,000 5.4215 GBP
Equity Swap
Celltech Open Short 19-May-04 01-Mar-05 SELL -16,400 5.4175 GBP
Equity Swap
Celltech Open Long 19-May-04 29-Mar-05 BUY 500,000 5.4241 GBP
Equity Swap
Celltech Open Long 19-May-04 29-Mar-05 BUY 55,100 5.42 GBP
Equity Swap
Celltech Open Long 19-May-04 29-Mar-05 BUY 36,700 5.42 GBP
Equity Swap
Celltech Open Long 20-May-04 29-Mar-05 BUY 519,000 5.4239 GBP
Equity Swap
Celltech Open Long 20-May-04 29-Mar-05 BUY 220,500 5.42 GBP
Equity Swap
Celltech Open Long 20-May-04 29-Mar-05 BUY 147,100 5.42 GBP
Equity Swap
Celltech Open Long 21-May-04 29-Mar-05 BUY 220,600 5.42 GBP
Equity Swap
Celltech Open Long 21-May-04 29-Mar-05 BUY 147,000 5.42 GBP
Equity Swap
Celltech Open Long 24-May-04 29-Mar-05 BUY 330,800 5.4175 GBP
Equity Swap
Celltech Open Long 24-May-04 29-Mar-05 BUY 220,600 5.4175 GBP
Equity Swap
Celltech Open Long 24-May-04 29-Mar-05 BUY 256,000 5.4216 GBP
Equity Swap
Celltech Open Long 24-May-04 29-Mar-05 BUY 1,000,000 5.4183 GBP
Equity Swap
Celltech Open Long 24-May-04 29-Mar-05 BUY 100,000 5.4175 GBP
Equity Swap
Celltech Open Long 24-May-04 29-Mar-05 BUY 27,000 5.4175 GBP
Equity Swap
Celltech Open Long 24-May-04 29-Mar-05 BUY 173,000 5.4175 GBP
Equity Swap
Celltech Open Long 25-May-04 29-Mar-05 BUY 200,000 5.4138 GBP
Equity Swap
Celltech Open Long 25-May-04 29-Mar-05 BUY 110,300 5.415 GBP
Equity Swap
Celltech Open Short 25-May-04 01-Mar-05 SELL -10,400 5.41 GBP
Equity Swap
Celltech Open Long 25-May-04 29-Mar-05 BUY 73,500 5.415 GBP
Equity Swap
Celltech Open Long 25-May-04 29-Mar-05 BUY 260,000 5.4183 GBP
Equity Swap
Celltech Open Long 26-May-04 29-Mar-05 BUY 100,000 5.4153 GBP
Equity Swap
Celltech Open Short 26-May-04 01-Mar-05 SELL -3,200 5.4125 GBP
Equity Swap
Celltech Open Short 27-May-04 29-Nov-04 SELL -5,000,000 5.42 GBP
Equity Swap
Celltech Open Short 27-May-04 01-Mar-05 SELL -4,600 5.425 GBP
Equity Swap
Celltech Open Short 28-May-04 01-Mar-05 SELL -10,300 5.42529 GBP
Equity Swap
Celltech Open Short 28-May-04 01-Mar-05 SELL -800 5.4323 GBP
Equity Swap
Celltech Open Long 01-June-04 29-Mar-05 BUY 50,000 5.43655 GBP
Equity Swap
Celltech Open Long 01-June-04 29-Mar-05 BUY 130,000 5.4406 GBP
Equity Swap
Celltech Open Long 02-June-04 29-Mar-05 BUY 14,000 5.44155 GBP
Equity Swap
Celltech Open Long 02-June-04 29-Mar-05 BUY 200,000 10.0301 USD
Equity Swap
Celltech Open Long 02-June-04 29-Mar-05 BUY 1,312 5.4375 GBP
Equity Swap
Celltech Open Short 02-June-04 01-Mar-05 SELL -12,800 5.435 GBP
Equity Swap
Celltech Close Short 02-June-04 01-Mar-05 BUY 6,000 5.4375 GBP
Equity Swap
Celltech Close Short 03-June-04 01-Mar-05 BUY 20,400 5.4475 GBP
Equity Swap
Celltech Open Short 03-June-04 01-Mar-05 SELL -1,200 5.4425 GBP
Equity Swap
Celltech Close Long 4-June-04 29-Mar-05 SELL -300,000 5.467265 GBP
Equity Swap
Celltech Open Short 4-June-04 1-Mar-05 SELL -4,000 5.47375 GBP
Equity Swap
Celltech Close Long 4-June-04 29-Mar-05 SELL -411,000 5.47589 GBP
Equity Swap
Celltech Open Short 7-Jun-04 1-Mar-05 SELL -6,000 5.4775 GBP
Equity Swap
Celltech Open Short 8-Jun-04 1-Mar-05 SELL -2,500 5.475 GBP
Equity Swap
Celltech Open Short 9-Jun-04 1-Mar-05 SELL -100,000 5.4734 GBP
Equity Swap
Celltech Open Short 10-Jun-04 1-Mar-05 SELL -19,959 5.4729 GBP
Equity Swap
Celltech Open Short 10-Jun-04 1-Mar-05 SELL -400 5.4698 GBP
Equity Swap
Celltech Open Short 14-Jun-04 1-Mar-05 SELL -600 5.4723 GBP
Equity Swap
Celltech Open Short 14-Jun-04 1-Mar-05 SELL -7,500 5.4758 GBP
Equity Swap
Celltech Open Short 15-Jun-04 1-Mar-05 SELL -12,600 5.4774 GBP
Equity Swap
Celltech Close Short 16-Jun-04 1-Mar-05 BUY 8,000 5.4825 GBP
Equity Swap
Celltech Open Short 16-Jun-04 1-Mar-05 SELL -15,000 5.48 GBP
Equity Swap
Celltech Open Short 17-Jun-04 1-Mar-05 SELL -11,500 5.48 GBP
Equity Swap
Celltech Open Short 18-Jun-04 1-Mar-05 SELL -7,400 5.4751 GBP
Equity Swap
Celltech Open Short 22-Jun-04 1-Mar-05 SELL -3,000 5.475 GBP
Equity Swap
Celltech Open Long 23-Jun-04 29-Mar-04 BUY 275,600 5.48 GBP
Equity Swap
Celltech Open Long 23-Jun-04 29-Mar-04 BUY 183,800 5.48 GBP
Equity Swap
Celltech Open Short 23-Jun-04 1-Mar-05 SELL -20,000 5.4788 GBP
Equity Swap
Celltech Open Short 24-Jun-04 1-Mar-05 SELL -2,500 5.485 GBP
Equity Swap
Celltech Open Long 25-Jun-04 29-Mar-05 BUY 19,700 5.48 GBP
Equity Swap
Celltech Open Long 25-Jun-04 29-Mar-05 BUY 29,600 5.48 GBP
Equity Swap
Celltech Open Short 28-Jun-04 1-Mar-05 SELL -2,400 5.485 GBP
Equity Swap
Celltech Open Long 29-Jun-04 29-Mar-05 BUY 1,200 5.495 GBP
Equity Swap
Celltech Open Long 30-Jun-04 29-Mar-05 BUY 3,500 5.48 GBP
Equity Swap
420,940
This information is provided by RNS
The company news service from the London Stock Exchange
END
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