Rule 8.1 - Victor Haghani
May 26 2009 - 4:55AM
UK Regulatory
TIDMZZZ TIDMSAM
FORM 8.1
ANNOUNCEMENT
DEALINGS BY OFFERORS, OFFEREE COMPANIES OR THEIR ASSOCIATES
FOR THEMSELVES OR FOR DISCRETIONARY CLIENTS
1. KEY INFORMATION
Name of person dealing (Note CYGNET CAPITAL LLC
1)
Company dealt in SYNDICATE ASSET MANAGEMENT PLC
Class of relevant security ORDINARY SHARES OF 0.2 PENCE
to which the dealings being
disclosed relate (Note 2)
Date of dealing 22 MAY 2009
2. INTERESTS, SHORT POSITIONS AND RIGHTS TO SUBSCRIBE
(a) Interests and short positions (following dealing) in the class of relevant
security dealt in (Note 3)
Long Short
Number Number
(%) (%)
(1) Relevant securities 21,632,800 N/A
3.34%
(2) Derivatives (other than N/A N/A
options)
(3) Options and agreements N/A N/A
to purchase/sell
Total 21,632,800
3.34%
(b) Interests and short positions in relevant securities of the company, other
than the class dealt in (Note 3)
Class of relevant security: Long Short
Number Number
(%) (%)
(1) Relevant securities N/A N/A
(2) Derivatives (other than N/A N/A
options)
(3) Options and agreements N/A N/A
to purchase/sell
Total
(c) Rights to subscribe (Note 3)
Class of relevant security: Details
ORDINARY SHARES OF 0.2 PENCE SHARES SUBSCRIBED: 15,000,000
3. DEALINGS (Note 4)
(a) Purchases and sales
Purchase/sale Number of securities Price per unit (Note 5)
N/A N/A N/A
See additional information below.
(b) Derivatives transactions (other than options)
Product Long/short Number of securities Price per unit
name, (Note 6) (Note 7) (Note 5)
e.g. CFD
N/A N/A N/A N/A
(c) Options transactions in respect of existing securities
(i) Writing, selling, purchasing or varying
Product Writing, Number of Exerc Type, Expir Option
name, selling, securities ise e.g. y money
e.g. call purchasin to which the price American date paid/rece
option g, option , ived per
varying relates European unit
etc. (Note 7) etc. (Note 5)
N/A N/A N/A N/A N/A N/A N/A
(ii) Exercising
Product name, e.g. call Number of securities Exercise price per unit
option (Note 5)
N/A N/A N/A
(d) Other dealings (including new securities) (Note 4)
Nature of transaction Details Price per unit (if
(Note 8) applicable) (Note 5)
SUBSCRIPTION This disclosure is 1 PENCE
being made as a result
of an agreement
entered into by the
person identified
below as a dealing to
subscribe for new
ordinary shares of 0.2
pence each ("New
Ordinary
Shares") in the
capital of Syndicate
Asset Management plc
(the "Company") at a
subscription price of
1 pence each. That
agreement was entered
into in connection
with the proposed
subscription for, in
aggregate, 310,000,000
New Ordinary Shares
announced by the
Company on 8 May 2009
(the "Subscription").
On the same date the
Company also announced
the proposed issue of
200,000,000 further
New Ordinary Shares
(the "Issue"). The
Subscription and the
Issue have yet to
complete and are
conditional on,
amongst other things,
the Company's
shareholders approving
certain resolutions to
be put to a general
meeting convened for
26 May 2009 (the
"Resolutions").
The percentage holding
set out above, is
calculated by
reference to the
issued share capital
of the Company as it
will be in the event
that the Subscription
and the Issue are
approved by
shareholders and
become effective.
4. OTHER INFORMATION
Agreements, arrangements or understandings relating to options or derivatives
Full details of any agreement, arrangement or understanding between the
person disclosing and any other person relating to the voting rights of
any relevant securities under any option referred to on this form or
relating to the voting rights or future acquisition or disposal of any
relevant securities to which any derivative referred to on this form is
referenced. If none, this should be stated.
It is a condition of the subscription referred to in section 2(c) above
that the subscriber agrees to vote in favour of the Resolutions (as
defined in section 3(d) above). A proxy to this effect has been sent to
the Company's Registrars (the "Proxy"). The Proxy is in respect to
6,632,800 ordinary shares and represents 4.82% of the total voting rights
of the Company at this time. The subscriber has also granted the
directors of the Company a limited power of attorney to vote these shares
in favour of the Resolutions if the subscriber does not vote in
accordance with the Proxy.
Is a Supplemental Form 8 attached? (Note 9) NO
Date of disclosure 26 MAY 2009
Contact name BRUCE GARROW
COLLINS STEWART EUROPE LIMITED
Telephone number +44 (0) 207 523 8350
Name of offeree/offeror with which VICTOR HAGHANI
associated
Specify category and nature of associate N/A
status (Note 10)
Notes
The Notes on Form 8.1 can be viewed on the Takeover Panel's website at
www.thetakeoverpanel.org.uk
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