Rule 8 - Highway Insurance
February 25 2005 - 7:36AM
UK Regulatory
RNS Number:0518J
Laxey Partners Ltd
25 February 2005
Date of Disclosure 25 FEBRUARY 2005
DISCLOSURE UNDER RULES 8.1(a), 8.1(b)(i) and 8.3
OF THE CITY CODE ON TAKEOVERS AND MERGERS
Date of dealing 23 FEBRUARY 2005
Dealing in HIGHWAY INSURANCE HOLDINGS PLC (name of company)
1) Class of securities (eg ordinary shares) ORDINARY SHARES
2) Amount bought Amount sold Price per unit
1,050,000 0.425714
3) Resultant total of the same class owned or controlled
(and percentage of class) 4,617,604 ORDINARY SHARES (2.27%)
4) Party making disclosure LAXEY PARTNERS LIMITED ON BEHALF OF VARIOUS
MANAGED ACCOUNTS
5) EITHER (a) Name of purchaser/vendor (Note 1)
OR (b) if dealing for discretionary client(s), name of fund
management organisation
LAXEY PARTNERS LTD
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 N/A
(Also print name of signatory) C BRUCE
Telephone and extension number 01624 690900
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 which 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
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. Email: monitoring@disclosure.org.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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