Statement re irrevocable undertaking/LOI (6177R)
07 Noviembre 2011 - 6:04AM
UK Regulatory
TIDMGTL
RNS Number : 6177R
Sinav Limited
07 November 2011
7 November 2011
Sinav Limited
("Sinav")
Statement re: irrevocable undertaking and letter of intent in
respect of the recommended cash offer for GTL Resources PLC
("GTL")
Sinav notes the Form 8.3 dealing disclosure released today by
Henderson Global Investors in connection with the purchase of
200,000 ordinary shares of 1p each in GTL (the "Dealing").
In accordance with the terms of the irrevocable undertaking and
statement of intent provided to NAV LLP, for the benefit of Sinav,
by Henderson Global Investors Limited and Gartmore Investment
Limited on 14 October 2011, following the Dealing, Sinav now holds
an irrevocable undertaking and increased statement of intent to
vote (or procure the vote) in favour of the resolutions to be
proposed at the Meetings (or, in the event the Proposals are
implemented by way of a Takeover Offer, to accept, or procure the
acceptance of such an offer) in respect of 2,205,324 and 7,255,341
GTL Shares respectively, representing approximately 6.89 per cent.
and 22.68 per cent. of the existing issued ordinary share capital
of GTL respectively. Further details of the holdings of the
underlying investment management clients concerned are set out
below:
Name Number of Percentage of
GTL Shares GTL's existing
issued ordinary
share capital
-------------------------------------- ------------ -----------------
1) Irrevocable undertaking
Henderson UK Small Cap Best Ideas 2,205,324 6.89%
Fund*
2,205,324 6.89%
2) Statement of intent
Strathclyde Pension Fund* 2,031,288 6.35%
Henderson UK and Irish Smaller
Companies Fund* 1,903,420 5.95%
The Alphagen Volantis Fund Limited** 3,320,633 10.38%
7,255,341 22.68%
-------------------------------------- ------------ -----------------
* - fund managed by Henderson Global Investors Limited.
** - fund managed by Gartmore Investment Limited.
The full details of the irrevocable undertaking and statement of
intent, including the circumstances in which the irrevocable
undertaking will cease to be binding, were set out in Sinav's Form
8 Opening Position Disclosure announced on 31 October 2011 and,
save for the increase of 70,000 shares announced by Sinav on 3
November 2011 and the abovementioned further increase, remain
unchanged.
Unless the context otherwise requires, defined terms used in
this announcement shall have the meanings given to them in the
offer announcement released by Sinav on 31 October 2011.
Enquiries:
Sinav Limited
Christopher Mills, Director Tel: +44 (0) 207 747 5678
Strand Hanson Limited
(Financial Adviser to Sinav and NAV LLP)
Simon Raggett Tel: +44 (0) 207 409 3494
Matthew Chandler
This information is provided by RNS
The company news service from the London Stock Exchange
END
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