Form 8.5 (EPT/NON-RI) INMARSAT PLC - Amendment

LONDON--(BUSINESS WIRE)-- 

FORM 8.5 (EPT/NON-RI) Amendment to Purchases & Sales

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY AN

EXEMPT PRINCIPAL TRADER WITHOUT RECOGNISED INTERMEDIARY (“RI”) STATUS (OR WHERE RI STATUS IS NOT APPLICABLE)

Rule 8.5 of the Takeover Code (the “Code”)

1. KEY INFORMATION

(a) Name of exempt principal trader:	BARCLAYS CAPITAL SECURITIES LTD
(b) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree	INMARSAT PLC
(c) Name of the party to the offer with which exempt principal trader is connected:	Connect Bidco Limited owned by a consortium of funds advised by Apax Partners LLP; funds advised by Warburg Pincus or its affiliates; Canada Pension Plan Investment Board and Ontario Teachers’ Pension Plan
(d) Date position held/dealing undertaken: For an opening position disclosure, state the latest practicable date prior to the disclosure	03 DEC 2019
(e) In addition to the company in 1(b) above, is the exempt principal trader making disclosures in respect of any other party to the offer? If it is a cash offer or possible cash offer, state “N/A”	NO

2. POSITIONS OF THE EXEMPT PRINCIPAL TRADER

If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(b), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

(a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

Class of relevant security:		EUR 0.0005 ordinary
		Interests		Short Positions
		Number	(%)	Number	(%)
(1)	Relevant securities owned
	and/or controlled:	13,215,696	2.81%	1,489,532	0.32%
(2)	Cash-settled derivatives:
		2,463,336	0.52%	12,596,358	2.68%
(3)	Stock-settled derivatives (including options)
	and agreements to purchase/sell:	0	0.00%	0	0.00%
	TOTAL:	15,679,032	3.34%	14,085,890	3.00%

All interests and all short positions should be disclosed.

Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

(b) Rights to subscribe for new securities (including directors’ and other employee options)

Class of relevant security in relation to which subscription right exists:

Details, including nature of the rights concerned and relevant percentages:

3. DEALINGS (IF ANY) BY THE EXEMPT PRINCIPAL TRADER

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(b), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

The currency of all prices and other monetary amounts should be stated.

(a) Purchases and sales

Class of relevant	Purchase/sale	Total number of	Highest price per unit	Lowest price per unit
security		securities	paid/received	paid/received
Convertible Bond	Sale	1,400,000	151.2500 USD	151.25 USD
EUR 0.0005 ordinary	Purchase	1,666,965	5.4489 GBP	5.4274 GBP
EUR 0.0005 ordinary	Sale	2,185,404	5.4500 GBP	5.4208 GBP
(b)	Cash-settled derivative transactions
Class of	Product	Nature of dealing	Number of	Price per
relevant	description		reference	unit
security			securities
EUR 0.0005 ordinary	CFD	Long	2,389	5.4157 GBP
EUR 0.0005 ordinary	CFD	Long	14,105	5.4305 GBP
EUR 0.0005 ordinary	SWAP	Long	44,393	5.4358 GBP
EUR 0.0005 ordinary	SWAP	Long	291,379	5.4434 GBP
EUR 0.0005 ordinary	SWAP	Long	1,094,964	9.0974 USD
EUR 0.0005 ordinary	SWAP	Short	22,795	5.4500 GBP
EUR 0.0005 ordinary	CFD	Short	68,869	5.4471 GBP
EUR 0.0005 ordinary	CFD	Short	139,857	5.4429 GBP
EUR 0.0005 ordinary	SWAP	Short	219,401	5.4492 GBP
EUR 0.0005 ordinary	SWAP	Short	278,211	5.4353 GBP

(c) Stock-settled derivative transactions (including options)

(i) Writing, selling, purchasing or varying

Class of relevant security

Product description e.g. call option

Writing, purchasing, selling, varying etc.

Number of securities to which option relates

Exercise price per unit

Type e.g. American, European etc.

Expiry date

Option money paid/ received per unit

(ii) Exercise

Class of relevant security

Product description e.g. call option

Exercising/ exercised against

Number of securities

Exercise price per unit

(d) Other dealings (including subscribing for new securities)

Class of relevant security

Nature of dealing e.g. subscription, conversion

Details

Price per unit (if applicable)

4. OTHER INFORMATION

(a) Indemnity and other dealing arrangements

Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the exempt principal trader making the disclosure and any party to the offer or any person acting in concert with a party to the offer: Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”

None

(b) Agreements, arrangements or understandings relating to options or derivatives

Details of any agreement, arrangement or understanding, formal or informal, between the exempt principal trader making the disclosure and any other person relating to: (i) the voting rights of any relevant securities under any option; or (ii) the voting rights or future acquisition or disposal of any relevant securities to which any derivative is referenced: If there are no such agreements, arrangements or understandings, state “none”

None

(c) Attachments

Is a Supplemental Form 8 (Open Positions) attached?

NO

Date of disclosure:	5 DEC 2019
Contact name:	Large Holdings Regulatory Operations
Telephone number:	020 3134 7213

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

The Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements on [phone].

The Code can be viewed on the Panel’s website at www.thetakeoverpanel.org.uk.

Category Code: FEO

Sequence Number: 682744

Time of Receipt (offset from UTC): 20191205T151034+0000