Announcement of Substantial Transaction
August 18 2010 - 2:00AM
UK Regulatory
TIDMSIAG TIDMFCAM
RNS Number : 2446R
Sherborne Investors (Guernsey) A
18 August 2010
Sherborne Investors (Guernsey) A Limited
18 August 2010
Announcement of Substantial Transaction
In accordance with Rule 12 of the AIM Rules, Sherborne Investors (Guernsey) A
Limited (the "Company") announces that SIGA, LP (together with the Company, the
"Group") has purchased a further 22,804,407 ordinary shares in F&C Asset
Management plc ("F&C") (LSE: FCAM) at a total cost of GBP14,478,039, including
commissions and expenses (the "Acquisition"). The Acquisition was funded by the
Group's existing cash resources.
The Group now holds 41,360,605 ordinary shares in F&C. In addition, following a
transfer of ordinary shares held by the Group, the Group has entered into a
cash-settled total return equity swap, giving it an economic exposure to a
further 8,000,000 ordinary shares in F&C.
The shareholding in F&C was acquired within the price parameters approved by the
Board of the Company. The Group may continue to acquire shares in F&C, but if
it is unable to acquire a large enough shareholding at an acceptable price, the
Group may elect to dispose of its shareholding in F&C and invest in another
company. Further, pursuant to the Group's Investment Policy the Group intends
that its shareholding in F&C will not reach such a level as to require the Group
to make a bid for the entire company.
Enquiries:
Financial Dynamics +44 (0)20 7269
7170
Jonathon Brill/Billy Clegg
Sherborne Investors (Guernsey) A Limited +44 (0)14 8172 1672
Ian Brindle (Chairman)
RBS Hoare Govett Limited (Nominated Adviser) +44 (0)20 7678 8000
John MacGowan/Luke Simpson/Gary Gould
This information is provided by RNS
The company news service from the London Stock Exchange
END
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