Holding(s) in Company (9016C)

TIDMPUB

RNS Number : 9016C

Punch Taverns PLC

14 March 2011

Punch Taverns plc (the "Company") 14 March 2011

TR-1 NOTIFICATION OF MAJOR INTERESTS IN SHARES

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

Punch Taverns plc

2. Reason for the notification (please tick the appropriate box or boxes)

 
 An acquisition or disposal of voting rights: 
----------------------------------------------------- 
 An acquisition or disposal of 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         X 
  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 to the notification obligation:

Glenview Capital Management, LLC

4. Full name of shareholder(s) (if different from 3):

5. Date of the transaction (and date on which the threshold if crossed or reached if different):

10 March 2011

6. Date on which issuer notified:

14 March 2011

7. Threshold(s) that is/are crossed or reached:

20% (aggregate), 18% (swap)

8. Notified details:

A: Voting rights attached to shares

 
 Class/type of shares 
  if possible using      Situation previous to the triggering 
  the ISIN CODE           transaction 
----------------------  ------------------------------------------- 
                         Number of shares   Number of voting rights 
----------------------  -----------------  ------------------------ 
 GB0031552861            12,852,181         12,852,181 
----------------------  -----------------  ------------------------ 
 
 
 Resulting situation after the triggering transaction 
------------------------------------------------------------------ 
 Number of 
  shares         Number of voting rights      % of voting rights 
--------------  ---------------------------  --------------------- 
 Direct          Direct       Indirect        Direct     Indirect 
--------------  -----------  --------------  ---------  ---------- 
                              12,852,181                 2.00% 
 --------------------------  --------------  ---------  ----------

B: Qualifying Financial Instruments

 
 Resulting situation after the triggering transaction 
-------------------------------------------------------------------------------- 
 Type of      Expiration   Exercise/Conversion/Period   Number of    % of voting 
 financial     date         Date                        voting        rights 
 instrument                                             rights 
                                                        that may 
                                                        be 
                                                        acquired 
                                                        if the 
                                                        instrument 
                                                        is 
                                                        exercised/ 
                                                        converted 
-----------  -----------  ---------------------------  -----------  ------------

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments

 
 Resulting situation after the triggering transaction 
----------------------------------------------------------------------------------------------------- 
                                                                       Number of 
                                                                       voting 
                                                                       rights that 
                                                                       may be 
                                                                       acquired if 
                                                                       the 
                                                                       instrument 
 Type of                                                               is 
  financial    Exercise    Expiration    Exercise/Conversion/Period    exercised/     % of voting 
  instrument    price       date          Date                         converted       rights 
------------  ----------  ------------  ----------------------------  -------------  ---------------- 
 Total                      20-Jul-11 
 Return                     20-Jul-12 
 Swap                       01-Mar-13                                  118,660,693    Nominal   Delta 
------------  ----------  ------------  ----------------------------  -------------  --------  ------ 
                                                                                      18.45% 
    -------------------------------------------------------------------------------  --------  ------

Total (A+B+C)

 
 Number of voting rights   % of voting rights 
------------------------  ------------------- 
 131,512,874               20.45% 
------------------------  -------------------

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable:

Larry Robbins, the CEO of Glenview Capital Management, LLC ("Glenview"), is the ultimate controller of Glenview.

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:

Claire Stewart, Deputy Company Secretary

15. Contact telephone number:

(01283) 501 858

This information is provided by RNS