Notification of Major Interest in Shares
November 08 2010 - 12:44PM
UK Regulatory
TIDMITL
For filings with the FSA include the |
annex |
=---------------------------------------+---------------------------------------
For filings with issuer exclude the |
annex |
=---------------------------------------+---------------------------------------
+------------------------------------------------------------------------------+
|TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES(i) |
+---------------------------------------------+--------------------------------+
|
+---------------------------------------------+--------------------------------+
|1. Identity of the issuer or the underlying | |
|issuer | Intec Telecom Systems Plc|
|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 | |
+---------------------------------------------------------------------+--------+
|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 | X |
|financial instruments | |
+---------------------------------------------------------------------+--------+
|An event changing the breakdown of voting rights | |
+-------------+-------------------------------------------------------+--------+
|Other (please| | |
|specify): | | |
+-------------+------------------------+------------------------------+--------+
| | Sandell Asset Management Corp.|
| | |
| | Thomas Sandell|
|3. Full name of person(s) subject to | |
|the | Castlerigg Master Investments Ltd|
|notification obligation:(iii) | |
| | Castlerigg Merger Arbitrage Master,|
| | Ltd.|
| | |
| | Castlerigg Merger Arbitrage UCITS Fund|
+--------------------------------------+---------------------------------------+
|4. Full name of shareholder(s) | N/A|
| (if different from 3.):(iv) | |
+--------------------------------------+---------------------------------------+
|5. Date of the transaction and date on| |
|which the threshold is crossed or | 4(th) November 2010|
|reached:(v) | |
+--------------------------------------+---------------------------------------+
|6. Date on which issuer notified: | 8(th) November 2010|
+--------------------------------------+---------------------------------------+
|7. Threshold(s) that is/are crossed or| Holding increased above 5%|
|reached:(vi, vii) | |
+-------------+------------------------++-----+-----------------------+--------+
+--------------------------------------------------------------------------------------+
|8. Notified details: |
+--------------------------------------------------------------------------------------+
|A: Voting rights attached to shares (viii, ix) |
+----------+------------------------------+--------------------------------------------+
|Class/type|Situation previous |Resulting situation after the triggering |
|of |to the triggering |transaction |
|shares |transaction | |
| +--------------+---------------+------------+---------------+---------------+
|if |Number |Number |Number |Number of |% of voting |
|possible |of |of |of shares |voting |rights (x) |
|using |Shares |Voting | |rights | |
|the ISIN | | ights +------------+------+--------+------+--------+
|CODE | | |Direct |Direct|Indirect|Direct|Indirect|
| | | | |(xi) |(xii) | | |
+----------+--------------+---------------+------------+------+--------+------+--------+
| | | | | | | | |
+----------+ | | | | | | |
| | | | | | | | |
+----------+--------------+---------------+------------+------+--------+------+--------+
+--------------------------------------------------------------------------------------+
|B: Qualifying Financial Instruments |
+--------------------------------------------------------------------------------------+
|Resulting situation after the triggering transaction |
+------------+-------------+----------------------------+----------------+-------------+
|Type of |Expiration |Exercise/ |Number of voting|% of voting |
|financial |date(xiii) |Conversion Period(xiv) |rights that may |rights |
|instrument | | |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(xvii) |Conversion |rights |rights (xix, |
|instrument | | |period(xviii)|instrument |xx) |
| | | | |refers to | |
+-----------+-------------+--------------+-------------+----------------+-------+------+
|Contracts | | | | |Nominal|Delta |
|for |0.7129-0.7175|12/2010-1/2015|N/A |20,479,501 +-------+------+
|difference | | | | |6.50% |N/A |
+-----------+-------------+--------------+-------------+----------------+-------+------+
+--------------------------------------------------------------------------------------+
|Total (A+B+C) |
+------------------------------------------+-------------------------------------------+
|Number of voting rights |Percentage of voting rights |
+------------------------------------------+-------------------------------------------+
|20,479,501 |6.50% |
+----------+++------------++-------------+++-----------++-----+--------+++----+-+------+
+------------------------------------------------------------------------------+
|9. Chain of controlled undertakings through which the voting rights and/or the|
|financial instruments are effectively held, if applicable:(xxi) |
+------------------------------------------------------------------------------+
| |
|Sandell Asset Management Corp. ("SAMC") beneficially owns the securities |
|reported herein through Castlerigg Master Investments Ltd ("Castlerigg Master |
|Investments"), Castlerigg Merger Arbitrage Master, Ltd ("Castlerigg Merger |
|Arbitrage Master") and Castlerigg Merger Arbitrage UCITS Fund ("Castlerigg |
|Merger Arbitrage UCITS"). Castlerigg Master Investments, Castlerigg Merger |
|Arbitrage Master, and Castlerigg Merger Arbitrage UCITS directly own the |
|securities reported herein. |
| |
|SAMC is the investment manager of Castlerigg Master Investments, Castlerigg |
|Merger Arbitrage Master, and Castlerigg Merger Arbitrage UCITS. Thomas |
|Sandell is the controlling person of SAMC and may be deemed to share |
|beneficial ownership of the shares beneficially owned by Castlerigg Master |
|Investments, Castlerigg Merger Arbitrage Master, Castlerigg Merger Arbitrage |
|UCITS and SAMC. |
+------------------------------------------------------------------------------+
+------------------------------------------------------------------------------+
|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: | |
+------------------------------------------------+-----------------------------+
+-----------------------------+------------------------------------------------+
|13. Additional information: | |
+-----------------------------+------------------------------------------------+
|14. Contact name: | Lee Iannarone|
+-----------------------------+------------------------------------------------+
|15. Contact telephone number:| 212-603-5859|
+-----------------------------+------------------------------------------------+
[HUG#1460264]
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(i) the releases contained herein are protected by copyright and
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(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Intec Telecom Systems Plc via Thomson Reuters ONE
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