Rule 8 - Sherwood Intl Plc
July 11 2003 - 8:03AM
UK Regulatory
RNS Number:4565N
Cantor Fitzgerald Europe
11 July 2003
FORM 8.1/8.3
Lodge with a RIS or Newstrack and the Takeover Panel. Use separate form for each
class of securities in which dealings have been made.
Date of disclosure 11/07/03.................
DISCLOSURE UNDER RULES 8.1(a), 8.1(b)(i) AND 8.3
OF THE CITY CODE ON TAKEOVERS AND MERGERS
Date of dealing 10/07/03
Dealing in Sherwood International Plc................(name of company)
(1) Class of securities (eg ordinary shares) ordinary shares...............
(2) Amount bought Amount sold Price per unit
135,000 1.370
In addition, Cantor Fitzgerald Europe (and affiliates) have undertaken certain
CFD and Spreadbet transactions (see below).
(3) Resultant total of the same class owned or controlled
(and percentage of class) 689,500 shares * (1.49%)
(4) Party making disclosure Cantor Fitzgerald Europe.................
(5) EITHER (a) Name of purchaser/vendor (Note 1) Cantor Fitzgerald Europe
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) Ross Tanton...................
Telephone and extension number 020 7894 7214..............................
______________________________________
*In addition, Cantor Fitzgerald Europe (and affiliates) are party
to certain CFDs and Spreadbets ( see below)
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. .-see attached
Note 6. In the case of an average price bargain, each underlying trade should be
disclosed.
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
Date of Disclosure: July 11, 2003
Form 8 Enclosure
Cantor Fitzgerald Europe is the beneficial owner of 689,500 Sherwood
International PLC ordinary shares. These shares are held to hedge Spreadbet
positions between Cantor Index Limited and other clients.
A Spread Bet is a product where the client to whom the product is sold can
realise a gain or a loss depending on whether the price of the underlying
security increases above or falls below the reference price. The client's
Spread bet position is described as his "stake". A "stake" is expressed in
pounds (sterling) per "point" and a "point" is the price in pence of the
underlying shares. A client with a "stake" of #100 per point will make a gain
of #100 for every penny increase in the underlying shares and he/she has an
exposure equivalent to 10,000 shares.
A purchaser of a Spread Bet contract will realise a gain if the price of the
underlying security goes up. A seller of a Spread Bet contract will realise a
gain if the price of the underlying security goes down.
There are no written or oral agreements between Cantor Fitzgerald Europe and any
clients concerning the control of voting rights in relation to the underlying
shares used to hedge the Spreadbets.
Spread Bets Date of Disclosure: 11-Jul-03
Sherwood International Plc Cantor Reference
Fitzgerald Stake - # per Point Price
Expiry Date Date Executed Buy/Sell 1 Point = 1 pence (pence)
16-Sep-03 July 10, 2003 Sell 3,975 139
16-Sep-03 July 10, 2003 Sell 3,000 139
16-Sep-03 June 26, 2003 Sell 5 134.4
16-Sep-03 June 16, 2003 Sell 10 128.9
6,990
Spread Bets Closed out
10-Jul-03 Open Date Open Price Close Price
16-Sep-03 June 12, 2003 Sell 250 121.5 139
16-Sep-03 June 13, 2003 Sell 125 113.4 139
16-Sep-03 June 17, 2003 Sell 100 124.5 139
16-Sep-03 June 19, 2003 Sell 250 128.9 139
16-Sep-03 June 24, 2003 Sell 500 124.3 139
16-Sep-03 July 8, 2003 Sell 2,000 131.2 139
16-Sep-03 July 9, 2003 Sell 750 131.5 139
16-Sep-03 June 19, 2003 Sell 1,000 128.9 139
16-Sep-03 July 8, 2003 Sell 2,000 131.2 139
16-Sep-03 June 25, 2003 Sell 125 131.4 137.4
16-Sep-03 July 8, 2003 Sell 350 131.2 137.4
16-Sep-03 June 25, 2003 Sell 125 131.4 137.4
16-Sep-03 July 8, 2003 Sell 650 131.2 137.4
This information is provided by RNS
The company news service from the London Stock Exchange
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