Rule 8 - (Burtonwood)
December 16 2004 - 5:07AM
UK Regulatory
RNS Number:4829G
Bear Stearns Intl. Trading Ltd
16 December 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, 16 December 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, 15 December 2004
Dealing in Burtonwood Plc
(1) Class of securities (eg ordinary shares) Ordinary Shares
(2) Amount bought Amount sold Price per unit
25000 GBP 5.70
68990 GBP 5.7057
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) 251,500 (1.16%)
(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 251,500
Burtonwood Plc ordinary shares. 251,500 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.
Open Contracts For Difference/Equity Swaps
Product Name Type Date Executed Maturity Date BSIT Buy/Sell Underlying Number of Reference Price CCY
Shares
Burtonwood Plc CFD 3/12/2004 1/9/2005 Buy 9100 5.62 GBP
Burtonwood Plc CFD 3/12/2004 1/9/2005 Buy 14000 5.62 GBP
Burtonwood Plc CFD 6/12/2004 1/9/2005 Buy 11900 5.6 GBP
Burtonwood Plc CFD 6/12/2004 1/9/2005 Buy 18200 5.6 GBP
Burtonwood Plc CFD 7/12/2004 1/9/2005 Buy 3700 5.6 GBP
Burtonwood Plc CFD 7/12/2004 1/9/2005 Buy 5500 5.6 GBP
Burtonwood Plc CFD 9/12/2004 1/9/2005 Buy 23700 5.6384 GBP
Burtonwood Plc CFD 9/12/2004 1/9/2005 Buy 36400 5.6384 GBP
Burtonwood Plc CFD 13/12/2004 1/9/2005 Buy 11200 5.7 GBP
Burtonwood Plc CFD 13/12/2004 1/9/2005 Buy 7400 5.7 GBP
Burtonwood Plc CFD 14/12/2004 1/9/2005 Buy 13800 5.7 GBP
Burtonwood Plc CFD 15/12/2004 1/9/2005 Buy 43400 5.7 GBP
Burtonwood Plc CFD 15/12/2004 1/9/2005 Buy 53200 5.7 GBP
251,500
This information is provided by RNS
The company news service from the London Stock Exchange
END
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