Holding(s) in Company

RNS Number : 9092U
British Airways PLC
22 October 2010
 



 

 

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

 

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

  British Airways 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 to the notification obligation:

 

TIAA-CREF Investment Management, LLC

 

Teachers Advisors, Inc

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

 

See number 9

5. Date of the transaction and date on which the threshold is crossed or reached:

 

10/20/2010

6. Date on which issuer notified:

 

10/21/2010

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

 

 3%

 

8. Notified details:

A: Voting rights attached to shares

 

Class/type of
shares


if possible using
the ISIN CODE

Situation previous
to the triggering
transaction

Resulting situation after the triggering transaction

Number
of
Shares

Number
of
Voting
Rights

Number
of shares

Number of voting
rights

% of  voting rights

Direct

Direct

Indirect

Direct

Indirect

 GB0001290575

35,288,694

35,288,694

30,912,381

30,912,381


2.679%



 

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

 

Type of financial
instrument

Expiration
date

Exercise/
Conversion
Period

Number of voting
rights that may be
acquired if the
instrument is
exercised/ converted.

 

% of voting
rights

 N/A

N/A

N/A

N/A

N/A

 

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

Resulting situation after the triggering transaction

 

Type of financial
instrument

Exercise
price

Expiration
date

Exercise/
Conversion
period

Number of voting
rights instrument
refers to

% of voting rights

 






Nominal

Delta

 



 

Total (A+B+C)

 

Number of voting rights

Percentage of voting rights

30,912,381

2.679%

 

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

 

 

The College Retirement Equities Fund ("CREF") hereby informs you that on October 20, 2010, CREF sold 4,376,313 shares of British Airways Plc, bringing its total holdings in your company to 30,809,351 shares.  CREF owns these shares through two of its investment accounts, the Global Equities Account, the Stock Account, and Social Choice.  It is our understanding the total voting shares outstanding of British Airways Plc is 1,153,689,440 shares bringing CREF's ownership in your company to a 2.670 level.

 

For your information, CREF, is a U.S. based investment company, which is registered with the Securities and Exchange Commission ("SEC").  CREF has multiple investment accounts, each with separate investment objectives and policies.  All assets in the accounts are beneficially owned by CREF, and all the accounts are managed by TIAA-CREF Investment Management, LLC, and an SEC registered investment adviser.

Additionally, affiliates of CREF own 103,030 shares in your company.  These holdings are owned by TIAA-CREF Funds ("Funds"), The affiliated funds, aggregated with those of CREF; own a total of 30,912,381 or 2.679% of the outstanding voting shares of your company.  Because Teachers Advisors, Inc. and TIAA-CREF Investment Management, LLC follow the same policies when voting these funds, we are aggregating the holdings for the purpose of this letter.

 

 

Proxy Voting:

 

10. Name of the proxy holder:

 

Equitable Nominees Limited

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:

 

None

14. Contact name:

 

William J Wilkinson

15. Contact telephone number:

 

212-490-9000

 

 

Alan Buchanan

Company Secretary

British Airways Plc


This information is provided by RNS
The company news service from the London Stock Exchange
 
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