REG - Chesnara PLC Prudential PLC - Holding(s) in Company

ChesnaraAnnouncement

22/10/2019 17:15

RNS Number : 7683Q
Chesnara PLC
22 October 2019
 


CHESNARA plc
("Chesnara" or "the Company")
 
LEI Number: 213800VFRMBRTSZ3SJ06
22 October 2019
NOTIFICATION OF MAJOR HOLDINGS
 
TR-1: Standard form for notification of major holdings
 



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


Chesnara Plc




1b. Please indicate if the issuer is a non-UK issuer  (please mark with an "X" if appropriate)




Non-UK issuer








2. Reason for the notification (please mark the appropriate box or boxes with an "X")




An acquisition or disposal of voting rights








An acquisition or disposal of financial instruments








An event changing the breakdown of voting rights








Other (please specify)iii: This notification is being made solely as a result of the demerger of Prudential plc and M&G plc, resulting in a change of control from Prudential to M&G.


X




3. Details of person subject to the notification obligationiv




Name


Prudential plc group of companies




City and country of registered office (if applicable)


London, United Kingdom




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




Name








City and country of registered office (if applicable)








5. Date on which the threshold was crossed or reachedvi:


21/10/2019




6. Date on which issuer notified (DD/MM/YYYY):


22/10/2019




7. Total positions of person(s) subject to the notification obligation








% of voting rights attached to shares (total of 8. A)


% of voting rights through financial instruments

(total of 8.B 1 + 8.B 2)


Total of both in % (8.A + 8.B)


Total number of voting rights of issuervii




Resulting situation on the date on which threshold was crossed or reached


0.00%


0.00%


0.00%


150,061,567




Position of previous notification (if
applicable)


5.01%


0.00%


5.01%
















 



8. 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
(Art 9 of Directive 2004/109/EC) (DTR5.1)


Indirect
(Art 10 of Directive 2004/109/EC) (DTR5.2.1)


Direct
(Art 9 of Directive 2004/109/EC) (DTR5.1)


Indirect
(Art 10 of Directive 2004/109/EC) (DTR5.2.1)




ORD GBP0.05 GB00B00FPT80






0






0.00%
















































SUBTOTAL 8. A


0


0.00%




 
 




B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a))




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 8. B 1


0


0.00%










B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b))




Type of financial instrument


Expiration

datex


Exercise/

Conversion Period xi


Physical or cash
settlementxii


Number of voting rights


% of voting rights






























































































SUBTOTAL 8.B.2


0


0.00%





















 




 



9. Information in relation to the person subject to the notification obligation (please mark the
applicable box with an "X")




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) issuerxiii








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 (please add additional rows as necessary)


X




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




Prudential plc
(Parent Company)
 


0.00%


0.00%


0.00%












































































10. In case of proxy voting, please identify:




Name of the proxy holder


N/A




The number and % of voting rights held


N/A




The date until which the voting rights will be held


N/A




11. Additional informationxvi




 
 










 



Place of completion


London, United Kingdom




Date of completion


22 October 2019



 
The above notification is made in accordance with the requirements of the EU Market Abuse Regulation.
 
For further information, please contact: -
 
Roddy Watt
Director, Capital Markets
FWD
Forward thinking communications
 
T - 020 7280 0651  
E - roddy.watt@fwdconsulting.co.uk 
 
 
 
Notes to Editors
Chesnara plc ('Chesnara'), which listed on the London Stock Exchange in May 2004, is the owner of Countrywide Assured plc ('CA plc'), Movestic Livförsäkringar AB ('Movestic') and Chesnara Holdings BV. Chesnara Holdings BV is the intermediate holding company of 'Waard Group' and 'Scildon'.
 
CA plc is a UK life assurance subsidiary that is closed to new business.  In June 2005 Chesnara acquired a further closed life insurance company - City of Westminster Assurance - for £47.8m.  With effect from 30 June 2006, CWA's policies and assets were transferred into CA plc.  Save & Prosper Insurance Limited and its subsidiary, Save & Prosper Pensions Limited, were acquired on 20 December 2010 for £63.5 million.  With effect from 31 December 2011, the business of Save & Prosper was transferred into CA plc.  On 28 November 2013 Chesnara acquired Direct Line Life Insurance Company Limited (subsequently renamed Protection Life Company Limited) from Direct Line Group plc for £39.3m.  On 31 December 2014 the PL business transferred into CA plc.  CA plc operates an outsourced business model.
 
Movestic, a Swedish life assurance company which originally focused on pensions and savings, was acquired on 23 July 2009 for £20 million.  The company is open to new business and seeks to grow its position in the Swedish unit-linked market.  Its proposition was strengthened in February 2010 with the acquisition of the operations of Aspis Försäkringar Liv AB which has a risk and health product bias.
 
The Waard Group, a Netherlands-based Group comprising two closed book insurance companies (life and income protection) and a servicing company, was acquired on 19 May 2015 for €69.9m from DSB Beheer B.V., a Dutch financial services Group.  The group comprises Waard Leven N.V., Waard Schade N.V. and Waard Verzekeringen B.V.  The portfolio of the Waard Group is predominantly term life policies with some unit linked and income protection policies.  On 5 April 2017 Chesnara completed its acquisition of Legal & General Nederland Levensverzekering Maatschappij N.V. ('LGN') for €161.2 million. The business was renamed Scildon, is in the Dutch life assurance market and, as with our Swedish subsidiary Movestic, it writes protection and pension new business.
 
Further details are available on the Company's website (www.chesnara.co.uk).




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