REG - Paddy Power Betfair - Holding(s) in Company
RNS Number : 3631TPaddy Power Betfair plc19 March 2019Standard 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 Betfair Plc
2. Reason for the notification (please tick the appropriate box or boxes):
[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:
3. Details of person subject to the notification obligationiv :
Name:
Parvus Asset Management Europe Limited
City and country of registered office (if applicable):
London, United Kingdom
4. Full name of shareholder(s) (if different from 3.)v:
Parvus Asset Management Europe Limited has been appointed as Investment Manager to a number of funds. 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. Parvus European Opportunities Master Fund is the only client whose holding exceeds the notifiable threshold of 3%.
5. Date on which the threshold was crossed or reachedvi:
11 March 2019
6. Date on which issuer notified:
13 March 2019
7. Threshold(s) that is/are crossed or reached:
Going above 3% voting rights (by way of equity swaps) (for an individual fund).
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%
9.85%
9.85%
78,069,138
Position of previous notification (if applicable)
0%
9.04%
9.04%
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
sharesISIN 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
datexExercise/
Conversion PeriodxiNumber 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
datexExercise/
Conversion Period xiPhysical or cash settlementxii
Number of voting rights
% of voting rights
Equity Swap
02/05/2019
N/A
Cash
490,373
0.63%
Equity Swap
28/06/2019
N/A
Cash
29,130
0.04%
Equity Swap
01/07/2019
N/A
Cash
8,200
0.01%
Equity Swap
05/07/2019
N/A
Cash
13,954
0.02%
Equity Swap
12/07/2019
N/A
Cash
2,461,450
3.15%
Equity Swap
03/09/2019
N/A
Cash
61,759
0.08%
Equity Swap
08/11/2019
N/A
Cash
5,900
0.01%
Equity Swap
03/12/2019
N/A
Cash
3,201,187
4.10%
Equity Swap
28/09/2020
N/A
Cash
9,200
0.01%
Equity Swap
04/01/2021
N/A
Cash
6,200
0.01%
Equity Swap
11/03/2021
N/A
Cash
1,255,381
1.61%
Equity Swap
24/09/2021
N/A
Cash
28,800
0.04%
Equity Swap
26/10/2021
N/A
Cash
95,700
0.12%
Equity Swap
01/06/2023
N/A
Cash
22,000
0.03%
SUBTOTAL B.2
7,689,234
9.85%
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:
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
Edoardo Mercadante
N/A
9.85%
9.85%
Parvus Asset Management (Cayman) Limited
N/A
9.85%
9.85%
Parvus Asset Management Limited
N/A
9.85%
9.85%
Parvus Asset Management Europe Limited
N/A
9.85%
9.85%
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:
The reason for the notification is that one of Parvus' clients - Parvus European Opportunities Master Fund, crossed above 3% on an individual basis. As at 11 March 2019 its holding was 3.1% of the issuer's total voting rights.
Done at London on 13 March 2019.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.ENDHOLJLMRTMBIBBBL
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