Partnership Assurance Group PLC Holding(s) in Company (4653A)
September 28 2015 - 1:18PM
UK Regulatory
TIDMPA.
RNS Number : 4653A
Partnership Assurance Group PLC
28 September 2015
TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi
TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
(i)
1. Identity of the issuer or the underlying
issuer of existing shares to which voting
rights are attached: ii PARTNERSHIP ASSURANCE GROUP PLC
------------------------------------------------- -----------------------------------------------
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 Cinven Limited Cinven S.A.
to the notification obligation:
iii
----------------------------------------- -------------------------------------------------------
Fourth Cinven Fund (No.1) Limited Partnership,
Fourth Cinven Fund (No.2) Limited Partnership,
Fourth Cinven Fund (No. 3 - VCOC) Limited
4. Full name of shareholder(s) Partnership, Fourth Cinven Fund (No.
(if different from 3.):iv 4) Limited Partnership, Fourth Cinven
Fund (UBTI) Limited Partnership, Fourth
Cinven Fund Co- Investment Partnership,
Fourth Cinven Fund (MACIF) Limited Partnership,
Fourth Cinven Fund FCPR
----------------------------------------- -------------------------------------------------------
5. Date of the transaction and date
on 25 September 2015
which the threshold is crossed or
reached: v
----------------------------------------- -------------------------------------------------------
6. Date on which issuer notified: 28 September 2015
----------------------------------------- -------------------------------------------------------
7. Threshold(s) that is/are crossed
or reached: vi, vii 50%
----------------------------------------- -------------------------------------------------------
8. Notified details:
--------------------------------------------------------------------------------------------------------------
A: Voting rights attached to shares viii, ix
--------------------------------------------------------------------------------------------------------------
Class/type of Situation previous Resulting situation after the triggering
shares to the triggering transaction
transaction
if possible
using the ISIN
CODE
---------------------- ------------------------ ------------------------------------------------------------
Number Number Number Number of voting % of voting rights
of Shares of Voting of shares rights x
Rights
---------------------- ----------- ----------- ----------- ----------------------- ----------------------
Indirect
Direct Direct xi xii Direct Indirect
---------------------- ----------- ----------- ----------- ------------ --------- --------- -----------
Ordinary
ISIN: GB00B9QN7S21
--------------------------------------------------------------------------------------------------------------
Fourth Cinven
Fund (No.1)
Limited Partnership 40,568,950 40,568,950 42,963,513 42,963,513 9.76%
---------------------- ----------- ----------- ----------- ------------ --------- --------- -----------
Fourth Cinven
Fund (No.2)
Limited Partnership 42,329,865 42,329,865 44,828,360 44,828,360 10.19%
---------------------- ----------- ----------- ----------- ------------ --------- --------- -----------
Fourth Cinven
Fund (No. 3
- VCOC) Limited
Partnership 41,968,251 41,968,251 44,445,415 44,445,415 10.10%
---------------------- ----------- ----------- ----------- ------------ --------- --------- -----------
Fourth Cinven
Fund (No. 4)
Limited Partnership 40,052,043 40,052,043 42,416,103 42,416,103 9.64%
---------------------- ----------- ----------- ----------- ------------ --------- --------- -----------
Fourth Cinven
Fund (UBTI)
Limited Partnership 22,532,823 22,532,823 23,862,822 23,862,822 5.42%
---------------------- ----------- ----------- ----------- ------------ --------- --------- -----------
Fourth Cinven
Fund Co- Investment
Partnership 2,049,525 2,049,525 2,160,168 2,160,168 0.49%
---------------------- ----------- ----------- ----------- ------------ --------- --------- -----------
Fourth Cinven
Fund (MACIF)
Limited Partnership 586,491 586,491 618,152 618,152 0.14%
---------------------- ----------- ----------- ----------- ------------ --------- --------- -----------
Fourth Cinven
Fund FCPR 17,505,619 17,505,619 17,505,619 17,505,619 3.98%
---------------------- ----------- ----------- ----------- ------------ --------- --------- -----------
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 financial Exercise Expiration Exercise/ Number of voting % of voting rights
instrument price date xvii Conversion rights xix,
period xviii instrument refers xx
to
------------------ --------- ----------- -------------- ------------------- ---------------------
Nominal Delta
------------------ --------- ----------- -------------- ------------------- ----------- --------
Total (A+B+C)
------------------------------------------------------
Number of voting rights Percentage of voting rights
------------------------ ----------------------------
218,800,152 49.73%
------------------------ ----------------------------
9. Chain of controlled undertakings through which the voting
rights and/or the financial instruments are effectively held, if
applicable: xxi
Cinven Limited acts as manager of the following entities:
-- Fourth Cinven Fund (No.1) Limited Partnership
-- Fourth Cinven Fund (No.2) Limited Partnership
-- Fourth Cinven Fund (No. 3 - VCOC) Limited Partnership
-- Fourth Cinven Fund (No. 4) Limited Partnership
-- Fourth Cinven Fund (UBTI) Limited Partnership
-- Fourth Cinven Fund (MACIF) Limited Partnership together, the "Cinven Funds".
The Cinven Funds and Fourth Cinven Fund Co-Investment
Partnership are party to an agreement whereby Fourth Cinven Fund
Co-Investment Partnership acts in accordance with the actions of
the Cinven Funds, meaning that Cinven Limited also effectively
controls Fourth Cinven Fund Co- Investment Partnership.
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