Holding(s) in Company

RNS Number : 8495V

Tesco PLC

19 January 2012

 



Tesco PLC has today been notified that the interest of Berkshire Hathaway Inc in Tesco PLC shares has increased from 3.21% to 5.08% as of 13 January 2012.  Details of the notifications received by the company are set out below:

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:

Tesco 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 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		X
An event changing the breakdown of voting rights
Other (please specify):

3. Full name of person(s) subject to the notification obligation:	Berkshire Hathaway Inc.
4. Full name of shareholder(s) (if different from 3.):	The following indirect wholly-owned subsidiaries of Berkshire Hathaway Inc. hold voting rights; Government Employees Insurance Company; General Reinsurance Corporation; General Reinsurance AG; National Fire & Marine Insurance Company; National Indemnity Insurance Company; U.S Underwriters Insurance Company; and Medical Protective Company
5. Date of the transaction and date on which the threshold is crossed or reached:	12 January 2012
6. Date on which issuer notified:	18 January 2012
7. Threshold(s) that is/are crossed or reached:	4%

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
GB0008847096	257,443,328	257,443,328	257,443,328	257,443,328	0	3.21	0

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

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
Cash Settled Equity Swap	$5.4043 (US Dollars) per share	16 January 2015	N/A	130,417,561	Nominal	Delta
					1.63	1.63

Total (A+B+C)
Number of voting rights	Percentage of voting rights
387,860,889	4.84

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

The following indirect wholly-owned subsidiaries own shares with voting rights: Government Employees Insurance Company (90,000,000) General Reinsurance Corporation (72,862,000) General Reinsurance AG (30,136,328) National Fire & Marine Insurance Company (30,606,000) National Indemnity Company (22,883,000) U.S Underwriters Insurance Company (5,807,000) Medical Protective Company (5,149,000) In addition National Indemnity holds financial instruments with similar economic effect to qualifying financial instruments related to 130,417,561 voting rights.

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:	Marc D. Hamburg
15. Contact telephone number:	1-402-346-1400 (United States of America

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:

Tesco 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 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		X
An event changing the breakdown of voting rights
Other (please specify):

3. Full name of person(s) subject to the notification obligation:	Berkshire Hathaway Inc.
4. Full name of shareholder(s) (if different from 3.):	The following indirect wholly-owned subsidiaries of Berkshire Hathaway Inc. hold voting rights; Government Employees Insurance Company; General Reinsurance Corporation; General Reinsurance AG; National Fire & Marine Insurance Company; National Indemnity Insurance Company; U.S Underwriters Insurance Company; and Medical Protective Company
5. Date of the transaction and date on which the threshold is crossed or reached:	13 January 2012
6. Date on which issuer notified:	18 January 2012
7. Threshold(s) that is/are crossed or reached:	5%

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
GB0008847096	257,443,328	257,443,328	257,443,328	257,443,328	0	3.21	0

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

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
Cash Settled Equity Swap	$5.3335 (US Dollars) per share	16 January 2015	N/A	150,117,561	Nominal	Delta
					1.87	1.87

Total (A+B+C)
Number of voting rights	Percentage of voting rights
407,560,889	5.08

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

The following indirect wholly-owned subsidiaries own shares with voting rights: Government Employees Insurance Company (90,000,000) General Reinsurance Corporation (72,862,000) General Reinsurance AG (30,136,328) National Fire & Marine Insurance Company (30,606,000) National Indemnity Company (22,883,000) U.S Underwriters Insurance Company (5,807,000) Medical Protective Company (5,149,000) In addition National Indemnity Company holds financial instruments with similar economic effect to qualifying financial instruments related to 150,117,561 voting rights.

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:	Marc D. Hamburg
15. Contact telephone number:	1-402-346-1400 (United States of America

 

END

 

 

HOLBLMBTMBABBIT