Punch Taverns PLC Holding(s) in Company (2860V)

TIDMPUB

RNS Number : 2860V

Punch Taverns PLC

24 October 2014

Punch Taverns plc (the "Company")

24 October 2014

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        x 
  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 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:

Serengeti Asset Management LP

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

   (i)   Serengeti Lycaon MM L.P.

(ii) Serengeti Opportunities MM L.P.

(iii) Rapax Master Fund Ltd

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

8 October 2014

6. Date on which issuer notified:

24 October 2014

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

8. Notified details:

   A:    Voting rights attached to shares 
 
 Class/type of          Situation previous to the 
  shares if possible     triggering transaction 
  using the ISIN 
  CODE 
---------------------  ----------------------------- 
                        Number of   Number of voting 
                         shares      rights 
---------------------  ----------  ----------------- 
 GB00BPXRVT80           0           0 
---------------------  ----------  ----------------- 
 
 
 Resulting situation after the triggering 
  transaction 
----------------------------------------------------------- 
 Number        Number of voting       % of voting rights 
  of shares     rights 
------------  ---------------------  ---------------------- 
 Direct        Direct    Indirect     Direct      Indirect 
------------  --------  -----------  ----------  ---------- 
   7,690,636 
    shares                                        3.466% 
  -----------------------  --------------------  ---------- 
 
   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        rights 
  instrument                                              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 
-------------------------------------------------------------------------------------------------------- 
 Type of       Exercise   Expiration   Exercise/Conversion/Period   Number of            % of voting 
  financial     price      date         Date                         voting rights        rights 
  instrument                                                         that may 
                                                                     be acquired 
                                                                     if the instrument 
                                                                     is exercised/ 
                                                                     converted 
------------  ---------  -----------  ---------------------------  -------------------  ---------------- 
                                                                                         Nominal   Delta 
------------  ---------  -----------  ---------------------------  -------------------  --------  ------

Total (A+B+C)

 
 Number of voting rights    % of voting rights 
-------------------------  ------------------- 
 7,690,636 shares           3.466% 
-------------------------  -------------------

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

Serengeti Asset Management LP is the investment advisor of each of (i) Serengeti Lycaon MM L.P., (ii) Serengeti Opportunities MM L.P. and (iii) Rapax Master Fund Ltd

Proxy Voting:

10. Name of the proxy holder:

N/A

11. Number of voting rights proxy holder will cease to hold:

N/A

12. Date on which proxy holder will cease to hold voting rights:

N/A

13. Additional information:

N/A

14. Contact name:

Ed Bashforth, Company Secretary

15. Contact telephone number: