Holding(s) in Company

RNS Number : 7013N

Paddy Power plc

01 February 2016

 

Standard Form TR-1

Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the Central Bank of Ireland)i
1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attachedii: Paddy Power 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 financial instruments [ ] An event changing the breakdown of voting rights [ ] Other (please specify)iii:
3. Details of person subject to the notification obligationiv :
Name: Parvus Asset Management Europe Limited		City and country of registered office (if applicable): United Kingdom
4. Full name of shareholder(s) (if different from 3.)v: Parvus Asset Management Europe Limited has been appointed as Investment Manager a number of funds and managed accounts. Under the terms of the various investment management agreements, Parvus Asset Management Europe Limited holds the power to vote any physical shareholdings held by these clients. No individual client holds voting rights which equal or exceed the notifiable threshold.
5. Date on which the threshold was crossed or reachedvi: 29 January 2016
6. Date on which issuer notified: 1 February 2016
7. Threshold(s) that is/are crossed or reached: Going below 5% in equity swap.
8. Total positions of person(s) subject to the notification obligation:
	% of voting rights attached to shares (total of 9.A)	% of voting rights through financial instruments (total of 9.B.1 + 9.B.2)	Total of both in % (9.A + 9.B)	Total number of voting rights of issuervii
Resulting situation on the date on which threshold was crossed or reached	0%	4.85%	4.85%	0
Position of previous notification (if applicable)	0%	5.20%	5.20%

9. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii:
A: Voting rights attached to shares
Class/type of shares ISIN code (if possible)	Number of voting rightsix					% of voting rights
	Direct			Indirect		Direct		Indirect
SUBTOTAL A
B 1: Financial Instruments according to Regulation 17(1)(a) of the Regulations
Type of financial instrument		Expiration datex	Exercise/ Conversion Periodxi			Number of voting rights that may be acquired if the instrument is exercised/converted.			% of voting rights
			SUBTOTAL B.1
B 2: Financial Instruments with similar economic effect according to Regulation 17(1)(b) of the Regulations
Type of financial instrument	Expiration datex		Exercise/ Conversion Period xi		Physical or cash settlementxii		Number of voting rights		% of voting rights
Equity Swap	03/05/2016		N/A		Cash		1,645,399		3.73%
Equity Swap	30/11/2016		N/A		Cash		494,660		1.12%
					SUBTOTAL B.2		2,140,059		4.85%

10. Information in relation to the person subject to the notification obligation (please tick the applicable box): [ ] Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer.xiii [X] Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entityxiv: Parvus Asset Management Europe Limited is controlled by Parvus Asset Management Limited and Oakentree Limited. Parvus Asset Management Limited is in turn controlled by Parvus Asset Management (Cayman) Limited, which is controlled by Edoardo Mercadante. Oakentree Limited is in turn controlled by Mads Gensmann. Messrs Mercadante and Gensmann are directors of Parvus Asset Management Limited, which company holds the power to vote these shares.
Namexv	% of voting rights if it equals or is higher than the notifiable threshold	% of voting rights through financial instruments if it equals or is higher than the notifiable threshold	Total of both if it equals or is higher than the notifiable threshold
No individual fund holds voting rights equal to or greater than the notifiable threshold.
11. In case of proxy voting: [name of the proxy holder] will cease to hold [% and number] voting rights as of [date] N/A
12. Additional informationxvi: N/A

Done at London on 1 February 2016.

Annex: Notification of major holdings (only to be filed with the Central Bank of Ireland and not with the relevant issuer)
A: Identity of the person subject to the notification obligation
Full name (including legal form for legal entities) Parvus Asset Management Europe Limited
Contact address (registered office for legal entities) 7 Clifford Street, London, W1S 2FT, United Kingdom
E-Mail [e-mail]
Phone number / Fax number [phone]
Other useful information (at least legal a contact person for legal persons)
B: Identity of the notifier, if applicable
Full name Angus Milne
Contact address TCI Fund Services LLP, 7 Clifford Street, London, W1S 2FT, United Kingdom
E-Mail [e-mail]
Phone number / Fax number [phone]
Other useful information (e.g. functional relationship with the person or legal entity subject to the notification obligation) TCI Fund Services LLP provides compliance services to Parvus Asset Management Europe Limited and is completing this disclosure on behalf of Parvus Asset Management Europe Limited. Please contact Angus Milne for any further information.
C: Additional information: N/A

 

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