Holding(s) in Company
Tate & Lyle PLC
TR-1: Notifications of Major Interests in Shares | ||||||||||||||||||||||||||||||||||
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1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: |
Tate & Lyle PLC | |||||||||||||||||||||||||||||||||
2. Reason for the notification (please tick the appropriate box or boxes): |
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An acquisition or disposal of voting rights | Â | No | ||||||||||||||||||||||||||||||||
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached | No | |||||||||||||||||||||||||||||||||
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments | No | |||||||||||||||||||||||||||||||||
An event changing the breakdown of voting rights | No | |||||||||||||||||||||||||||||||||
Other (please specify): | Â | Â | Yes | |||||||||||||||||||||||||||||||
The Harbinger Capital Partners Special Situations Fund, L.P. ("Special
Fund") held certain shares in the Issuer in an account at
Lehman Brothers International (Europe) ("LBIE"). On
15 September 2008, LBIE was placed into administration and four
partners of PriceWaterhouseCoopers LLP were appointed as joint
administrators ("Joint Administrators"). The Joint
Administrators have advised that 17,723,884
of the shares have been rehypothecated. The Special Fund believes at this time that rehypothecated shares will not be recoverable. The Joint Administrators have proposed a framework which, if approved, would entitle customers to a claim for the rehypothecated securities valued as of the close of market on 12 September 2008 which would be set off against amounts owed by such customer to LBIE. Accordingly, the Special Fund in this filing has reduced the number of shares of the Issuer held by it to the extent such shares were held at LBIE and were rehypothecated. By making this filing, the Special Fund does not waive any arguments that it is entitled to recover such shares and expressly reserves such arguments. Certain non-rehypothecated shares were also held at LBIE and the timing and likelihood of the return of such shares is uncertain at this time. Subsequent filings may be necessary to address a final determination regarding the disposition of such shares. |
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3. Full name of person(s) subject to the notification obligation: |
 | Harbinger Capital Partners LLC as the investment adviser to (i) Harbinger Capital Partners Master Fund I, Ltd. and (ii) Harbinger Capital Partners Special Situations Fund, L.P. | ||||||||||||||||||||||||||||||||
4. Full name of shareholder(s) (if different from 3.):(if different from 3.): |
Harbinger Capital Partners Master Fund I Ltd and Harbinger Capital Partners Special Situations Fund, L.P. | |||||||||||||||||||||||||||||||||
5. Date of the transaction and date on which the threshold is crossed or reached: |
15 September 200815 September 2008 |
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6. Date on which issuer notified: |
19 October 200919 October 2009 |
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7. Threshold(s) that is/are crossed or reached: |
Previous threshold - 13%
Current threshold - 9% |
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8. Notified details: | ||||||||||||||||||||||||||||||||||
A: Voting rights attached to shares | ||||||||||||||||||||||||||||||||||
Class/type of shares
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Situation previous to the triggering transaction |
 | Resulting situation after the triggering transaction | |||||||||||||||||||||||||||||||
Number of Shares |
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Number of Voting Rights |
Number of shares |
Number of voting rights |
 | % of voting rights | ||||||||||||||||||||||||||||
Direct | Direct | Â | Indirect | Direct | Â | Indirect | ||||||||||||||||||||||||||||
Ordinary shares of £0.25 | 60,037,554 | 60,037,554 | 42,313,670 |  | 42,313,670 |  | 9.21% | |||||||||||||||||||||||||||
ISIN Code: GB0008754136GB0008754136 |
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B: Qualifying Financial Instruments | ||||||||||||||||||||||||||||||||||
Resulting situation after the triggering transaction | ||||||||||||||||||||||||||||||||||
Type of financial instrument |
Expiration date |
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Exercise/ Conversion Period |
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Number of voting rights that may be acquired if the instrument is exercised/ converted. |
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% of voting rights |
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C: Financial Instruments with similar economic effect to Qualifying Financial Instruments | ||||||||||||||||||||||||||||||||||
Resulting situation after the triggering transaction | ||||||||||||||||||||||||||||||||||
Type of financial instrument |
Exercise price | Expiration date | Â |
Exercise/ Conversion period |
Number of voting rights instrument refers to | Â | % of voting rights | |||||||||||||||||||||||||||
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Total (A+B+C) | ||||||||||||||||||||||||||||||||||
Number of voting rights | Â | Percentage of voting rights | ||||||||||||||||||||||||||||||||
42,313,670 |
9.21% |
9. Chain of controlled undertakings through which the voting
rights and/or the financial instruments are effectively held, if applicable: |
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Harbinger Capital Partners LLC serves as an investment adviser to (i) Harbinger Capital Partners Master Fund I, Ltd (which holds 30,000,000 voting rights in the issuer (6.53%)) and (ii) Harbinger Capital Partners Special Situations Fund, L.P. (which holds 12,313,670 voting rights in the issuer (2.68%)) The managing member of Harbinger Capital Partners LLC is Harbinger Holdings, LLC, which is in turn controlled by Philip A. Falcone. | |||||
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Proxy Voting: | |||||
10. Name of the proxy holder: | Â | Â | |||
11. Number of voting rights proxy holder will cease to hold: |
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12. Date on which proxy holder will cease to hold voting rights: |
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13. Additional information: |
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14. Listed Company Contact name: |
Robert Gibber
Company Secretary |
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15. Contact telephone number: | 020 7626 6525 |