Asia Resource Minerals PLC Holding(s) in Company (1222T)
July 15 2015 - 6:25AM
UK Regulatory
TIDMARMS
RNS Number : 1222T
Asia Resource Minerals PLC
15 July 2015
TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES(i)
--------------------------------------------------
1. Identity of the issuer or the underlying Asia Resource Minerals plc
issuer
of existing shares to which voting rights
are
attached: (ii)
--------------------------------------------------- ----------------------------------------
2 Reason for the notification (please tick the appropriate box or boxes):
---------------------------------------------------------------------------------------------
An acquisition or disposal of voting rights x
----------------------------------------------------------------------------------- --------
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
----------------------------------------------------------------------------------- --------
Other (please
specify):
------------------- -------------------------------------------------------------- --------
3. Full name of person(s) subject Argyle Street Management Limited
to the Argyle Street Management Holdings Limited
notification obligation: (iii)
-------------------------------------------- -----------------------------------------------
4. Full name of shareholder(s) Asia Coal Energy Ventures Limited
(if different from 3.):(iv) Vidacos Nominees Limited
-------------------------------------------- -----------------------------------------------
5. Date of the transaction and date 14 July 2015
on
which the threshold is crossed
or
reached: (v)
-------------------------------------------- -----------------------------------------------
6. Date on which issuer notified: 15 July 2015
-------------------------------------------- -----------------------------------------------
7. Threshold(s) that is/are crossed
or
reached: (vi, vii) 75%
-------------------------------------------- -----------------------------------------------
8. Notified details:
---------------------------------------------------------------------------------------------------------------------------
A: Voting rights attached to shares (viii, ix)
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Class/type Situation previous Resulting situation after the triggering
of to the triggering transaction
shares transaction
if possible
using
the ISIN
CODE
------------- --------------------------------------- -------------------------------------------------------------------
Number Number Number Number of voting % of voting rights
of of of rights (x)
Shares Voting shares
Rights
------------- ------------------ ------------------- --------- ------------------------ ------------------------------
Direct Direct Indirect Direct Indirect
(xi) (xii)
------------- ------ ------ ------ ----- ---- --------- ---------- ------------ --------------- -------------
GB00B5BLXT62 179,986,975 179,986,975 182,303,643 75.66%
------------------ ------------------- --------- ---------- ------------ --------------- -------------
B: Qualifying Financial Instruments
---------------------------------------------------------------------------------------------------------------------------
Resulting situation after the triggering transaction
---------------------------------------------------------------------------------------------------------------------------
Type of financial Expiration Exercise/ Number of voting % of voting
instrument date (xiii) Conversion Period rights that may rights
(xiv) be
acquired if the
instrument is
exercised/ converted.
----------------------- ---------------- ---------------------------- ----------------------------- -------------------
C: Financial Instruments with similar economic effect to Qualifying Financial
Instruments (xv, xvi)
---------------------------------------------------------------------------------------------------------------------------
Resulting situation after the triggering transaction
---------------------------------------------------------------------------------------------------------------------------
Type of Exercise Expiration Exercise/ Number of voting % of voting rights
financial price date (xvii) Conversion rights instrument (xix, xx)
instrument period refers to
(xviii)
--------------- -------------- --------------- --------------- ----------------------------- -------------------------
Nominal Delta
--------------- -------------- --------------- --------------- ----------------------------- ------------- ----------
Total (A+B+C)
---------------------------------------------------------------------------------------------------------------------------
Number of voting rights Percentage of voting rights
--------------------------------------------------------------- ----------------------------------------------------------
182,303,643 75.66%
--------------------------------------------------------------- ----------------------------------------------------------
9. Chain of controlled undertakings through which the voting rights and/or
the
financial instruments are effectively held, if applicable: (xxi)
-----------------------------------------------------------------------------------------------
The ordinary shares of Asia Resource Minerals plc are subject to a takeover
offer made by Asia Coal Energy Ventures Limited ("ACE") (the "Offer"),
the full terms and conditions of which were published in an offer document
dated 10 June 2015.
On 1 July 2015, the Offer was declared unconditional in all respects
and ACE thereby unconditionally contracted to acquire 164,340,834 ordinary
shares in Asia Resource Minerals plc. As a result, ACE became entitled
to direct the exercise of 68.20% of the voting rights in Asia Resource
Minerals plc, triggering a notification requirement on such date.
Subsequently, on 9 July 2015, ACE unconditionally contracted to acquire
an additional 4,453,646 ordinary shares in Asia Resource Minerals plc,
due to further acceptances of the Offer. Accordingly, ACE thereby unconditionally
contracted to acquire an aggregate of 168,794,480 in Asia Resource Minerals
plc.
Subsequently, on 14 July 2015, ACE unconditionally contracted to acquire
an additional 2,316,668 ordinary shares in Asia Resource Minerals plc,
due to further acceptances of the Offer. Accordingly, ACE thereby unconditionally
contracted to acquire an aggregate of 171,111,148 in Asia Resource Minerals
plc.
Argyle Street Management Holdings Limited is the parent company of Argyle
Street Management Limited which is the investment manager of:
(i) ACE (which has unconditionally contracted to acquire 171,111,148
shares as a result of acceptances of its offer in respect of Asia Resource
Minerals plc); and
(ii) ASM Hudson River Fund (517,073 shares), ASM Asia Recovery (Master)
Fund (5,164,898 shares), ASM Co-Investment Opportunity Trust II LP (4,741,931
shares) and ASM Connaught House Fund LP (768,593 shares) (the "Funds"),
being 11,192,495 shares in aggregate and representing 4.65% of the voting
rights in Asia Resource Minerals plc.
Vidacos Nominees Limited is the nominee which holds the 11,192,495 shares
on behalf of the Funds' prime broker Citigroup Global Markets Limited.
Argyle Street Management Holdings Limited (0% direct interest in voting
rights) is the parent company of ASM Administration Limited ((0% direct
interest in voting rights), which is the parent company of ACE (70.05%).
Proxy Voting:
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10. Name of the proxy holder:
------------------------------------------------------------- --------------------------------
11. Number of voting rights proxy holder will
cease
to hold:
------------------------------------------------------------- --------------------------------
12. Date on which proxy holder will cease to
hold
voting rights:
------------------------------------------------------------- --------------------------------
13. Additional information: None of the Funds alone has a discloseable
interest but in aggregate their interests
are discloseable.
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14. Contact name: Ivan Goh / Winnie Ng
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15. Contact telephone number: +852 2106 0888
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This information is provided by RNS
The company news service from the London Stock Exchange
END
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