Beacon Hill Resources plc Holding(s) in Company (0353W)
November 03 2014 - 11:54AM
UK Regulatory
TIDMBHR
RNS Number : 0353W
Beacon Hill Resources plc
03 November 2014
TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES(i)
--------------------------------------------------
1. Identity of the issuer or Beacon Hill Resources Plc
the underlying issuer
of existing shares to which
voting rights are
attached: (ii)
----------------------------------------------------- -------------------------------------
2 Reason for the notification (please tick the appropriate
box or boxes):
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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 ü
------------------------------------------------------ ------------------------------------
Other (please
specify):
----------------------------------------------------- ------------------------------------
3. Full name of person(s) South Andes Foundation
subject to the
notification obligation:
(iii)
----------------------------------------------------- -------------------------------------
4. Full name of shareholder(s) Burley International Inc.
(if different from 3.):(iv) Latitude Zero Financial Investment
Fund
----------------------------------------------------- -------------------------------------
5. Date of the transaction 29 September 2014
and date on
which the threshold is
crossed or
reached: (v)
----------------------------------------------------- -------------------------------------
6. Date on which issuer 30 October 2014
notified:
----------------------------------------------------- -------------------------------------
7. Threshold(s) that is/are
crossed or
reached: (vi, vii) 11%
----------------------------------------------------- -------------------------------------
8. Notified details:
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A: Voting rights attached to shares (viii, ix)
-------------------------------------------------------------------------------------------------------------------------
Class/type Situation previous Resulting situation after the
of to the triggering triggering transaction
shares transaction
if possible
using
the ISIN
CODE
--------------- ------------------------------------------- -----------------------------------------------------------
Number Number Number Number of % of voting
of of of shares voting rights (x)
Shares Voting rights
Rights
-------------- -------------------- --------------------- --------------- --------------------- -------------------
Direct Direct Indirect Direct Indirect
(xi) (xii)
-------------- ------------------- ---------------- --------------- ------- ------------ -------- ---------
Ordinary
Shares 242,885,514
242,885,514shares voting
GB00B4WM8G33 held rights 242,885,514 242,885,514 6.50%
-------------------- --------------------- --------------- ------- ------------ -------- ---------
B: Qualifying Financial Instruments
-------------------------------------------------------------------------------------------------------------------------
Resulting situation after the triggering transaction
-------------------------------------------------------------------------------------------------------------------------
Type of Expiration Exercise/ Number of voting % of voting
financial date Conversion rights that rights
instrument (xiii) Period (xiv) may 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
financial price date Conversion rights instrument rights (xix,
instrument (xvii) period refers to xx)
(xviii)
-------------- ------------------------- ----------------- --------------- --------------------- -------------------
1. 1. GBP0.055 1. 30 1. 31 1. 16,241,227 Nominal Delta
Convertible (conversion June July 2012 2. 31,050,100
loan price) 2015 to 30 3. 1,500,000
agreement 2. GBP0.04 2. 30 June 2015 4. 31,050,100
(GBP) (conversion June 2. 12 5. 1,500,000
2. price) 2015 November 6. 116,895,227
Convertible 3. GBP0.04 3. 30 2012 to
loan per share June 30 June
agreement 4. GBP0.04 2015 2015
(USD) (conversion or 10 3. 13
(Tranche price) business November
1) 5.GBP0.04 days 2012 to
3. Warrant per share after 30 June
for shares 6. GBP0.0175 a takeover 2015 (or
4. (conversion offer until
Convertible price) for Beacon 10 business
loan Hill days after
agreement Resources a takeover
(USD) Plc becomes offer
(Tranche or is for Beacon
2) declared Hill Resources
5. Warrant unconditional, Plc becomes
for shares whichever or is
6. is earlier declared
Convertible 4. 30 unconditional)
loan June 4. 7 December
agreement 2015 2012 to
(USD) 5. 30 30 June
June 2015
2015 5. 15
or 10 January
business 2013 to
days 30 June
after 2015 (or
a takeover until
offer 10 business
for Beacon days after
Hill a takeover
Resources offer
Plc becomes for Beacon
or is Hill Resources
declared Plc becomes
unconditional, or is
whichever declared
is earlier unconditional)
6. 13 6. 13
December December
2016 2013 to
13 December
2016
-------------- ------------------------- ----------------- --------------- --------------------- -------- ---------
1.
0.43%
2.
0.83%
3.
0.04%
4.
0.83%
5.
0.04%
6.
3.13%
------------------------------------------------------ --------------- ------- ------------ -------- ---------
Total (A+B+C)
-------------------------------------------------------------------------------------------------------------------------
Number of voting rights Percentage of voting rights
------------------------------------------------------------ -----------------------------------------------------------
242,885,514 + 16,241,227 6.50% + 0.43% + 0.83% + 0.04%
+ 31,050,100 + 1,500,000 + 0.83% + 0.04% + 3.13% =
+ 31,050,100 + 1,500,000 11.80%
+ 116,895,227 = 441,122,168
------------------------------------------------------------ -----------------------------------------------------------
9. Chain of controlled undertakings through which the
voting rights and/or the
financial instruments are effectively held, if applicable:
(xxi)
---------------------------------------------------------------------------------------
* The South Andes Foundation, is the ultimate holder of
the voting rights of Latitude Zero Financial
Investment Fund (11.80%), through Burley
International Inc.
* Burley International Inc. is the holder of the sole
management share in Latitude Zero Financial
Investment Fund (11.80%)
* Latitude Zero Financial Investment Fund (11.80%)
Proxy Voting:
---------------------------------------------------------------------------------------
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:
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13. Additional information:
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14. Contact name: Stuart Mc Luckie
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15. Contact telephone number: +41 (22) 710 9176
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This information is provided by RNS
The company news service from the London Stock Exchange
END
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