Holding(s) in Company
Tate & Lyle PLC
TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi | |||
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1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: ii |
Tate & Lyle PLC | ||
2 Reason for the notification (please tick the appropriate box or boxes): | |||
An acquisition or disposal of voting rights | X | ||
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached | Â | ||
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments | Â | ||
An event changing the breakdown of voting rights | Â | ||
Other (please specify): | Â | Â | |
3. Full name of person(s) subject to the notification obligation: iii |
TIAA-CREF Investment Management, LLC on behalf of the accounts
listed in Exhibit B attached hereto
 Teachers Advisors, Inc. on behalf of the funds listed in Exhibit C attached hereto |
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4. Full name of shareholder(s) (if different from 3.):iv |
See Number 3 | ||
5. Date of the transaction and date on which the threshold is crossed or reached: v |
17/9/2013 | ||
6. Date on which issuer notified: | 19/9/2013 | ||
7. Threshold(s) that is/are crossed or reached: vi, vii |
4% |
8. Notified details: | |||||||||||||||||||||||||||||||||||
A: Voting rights attached to shares viii, ix | |||||||||||||||||||||||||||||||||||
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Class/type of shares
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Situation previous to the triggering transaction |
 | Resulting situation after the triggering transaction | |||||||||||||||||||||||||||||||
Number of Shares |
 |
Number of Voting Rights |
Number of shares |
 |
Number of voting rights |
 | % of voting rights x | ||||||||||||||||||||||||||||
Direct | Direct xi | Â | Indirect xii | Direct | Â | Indirect | |||||||||||||||||||||||||||||
GB0008754136 | 18,751,943 | 18,751,943 | 18,277,843 | 18,277,843 | 0 | 3.919% | 0% | ||||||||||||||||||||||||||||
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B: Qualifying Financial Instruments | |||||||||||||||||||||||||||||||||||
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Resulting situation after the triggering transaction | |||||||||||||||||||||||||||||||||||
Type of financial instrument |
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Expiration date xiii |
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Exercise/ Conversion Period xiv |
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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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N/A | N/A | N/A | N/A | N/A | |||||||||||||||||||||||||||||||
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C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi | |||||||||||||||||||||||||||||||||||
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Resulting situation after the triggering transaction | |||||||||||||||||||||||||||||||||||
Type of financial instrument |
 | Exercise price | Expiration date xvii |  |
Exercise/ Conversion period xviii |
 | Number of voting rights instrument refers to |  | % of voting rights xix, xx | ||||||||||||||||||||||||||
N/A |
N/A |
N/A | N/A | N/A | Nominal | Â | Delta | ||||||||||||||||||||||||||||
N/A | N/A | ||||||||||||||||||||||||||||||||||
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Total (A+B+C) | |||||||||||||||||||||||||||||||||||
Number of voting rights | Â | Percentage of voting rights | |||||||||||||||||||||||||||||||||
18,277,843 | 3.919% |
9. Chain of controlled undertakings through which the voting
rights and/or the financial instruments are effectively held, if applicable: xxi |
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The College Retirement Equities Fund (“CREFâ€) sold 525,000 shares on September 17, 2013 bringing its holdings to 6,700,287 shares of Tate & Lyle PLC. CREF owns these shares through three of its investment accounts, the Global Equities Account, Stock Account and Social Choice Account. It is our understanding the total voting shares outstanding of Tate & Lyle PLC are 466,378,765, bringing CREF’s ownership in your company to a 1.437% level.  |
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 For your information, CREF is a U.S. based investment company, which is registered with the Securities and Exchange Commission (“SECâ€). CREF has multiple investment accounts, each with separate investment objectives and policies. All assets in the accounts are beneficially owned by CREF, and all the accounts are managed by TIAA-CREF Investment Management, LLC, an SEC registered investment adviser.  Additionally, affiliates of CREF on September 17, 2013 bought 50,900 shares of Tate & Lyle PLC, bringing the holdings of these affiliates to 11,577,556 shares of Tate & Lyle PLC. These holdings are owned by the TIAA-CREF Funds (“Fundsâ€) and TIAA-CREF Life Funds (“Life Fundsâ€), each of which are SEC registered investment companies, as well as the Active Extension Fund I, LLC. (“Active Extension Unregistered Fundsâ€) and TIAA Global Equity Income, LLC (“TGEIâ€). The Funds, Life Funds, Active Extension Unregistered Funds and TGEI are managed by Teachers Advisors, Inc., an SEC registered investment adviser that is affiliated with TIAA-CREF Investment Management, LLC. The holdings of these affiliated funds, when aggregated with those of CREF, account to 18,277,843 shares or 3.919% of the outstanding voting shares of your company. Because Teachers Advisors, Inc. and TIAA-CREF Investment Management, LLC follow the same policies when voting these funds, we are aggregating the holdings for purposes of this letter.   (See Exhibit A attached hereto) |
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Proxy Voting: | ||
10. Name of the proxy holder: | TIAA-CREF Investment Management, LLC/ Teachers Advisors, Inc. | |
11. Number of voting rights proxy holder will cease to hold: |
N/A | |
12. Date on which proxy holder will cease to hold voting rights: |
N/A | |
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13. Additional information: |
None |
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14. Contact name: | Stuart R. Brunet | |
15. Contact telephone number: | +1 415 882 3711 | |
Listed Company Contact name: |
Lucie Gilbert
Company Secretary 020 7257 2100 |
Exhibit A.
TIAA-CREF |
Summary of Holdings of Tate & Lyle PLC |
Between September 16, 2013 – September 17, 2013 |
 | TIAA-CREF Investment Management LLC ("CREF") | ||||||||||
Global Equities Account | Â | Stock Account | Â | Social Choice Account | Â | Total CREF Holdings | Â | Total CREF % | |||
Holdings as of September 16, 2013 | 317,907 | 6,894,834 | 12,546 | 7,225,287 | 1.549% | ||||||
 |  |  |  |  | |||||||
Transactions as of September 17, 2013 | (291,667) | (233,333) | - | (525,000) | -0.113% | ||||||
 |  |  |  |  | |||||||
Holdings as of September 17, 2013 | 26,240 | 6,661,501 | 12,546 | 6,700,287 | 1.437% |
 | Teachers Advisors, Inc. | ||||||||||||||||
TIAA-CREF International Equity Fund | Â | TIAA-CREF Life International Equity Fund | Â | TIAA-CREF Intl Equity Index Fund | Â | TIAA-CREF ENH Intl Equity Index Fund | Â | TIAA Global Equity Income | Â | Active Extension Fund I | Â | Total Mutual Funds Holdings | Â | Total Mutual Funds % | |||
Holdings as of September 16, 2013 | 10,806,135 | 276,116 | 192,114 | 187,014 | 53,400 | 11,877 | 11,526,656 | 2.472% | |||||||||
 |  |  |  |  |  |  |  | ||||||||||
Transactions as of September 17, 2013 | - | - | - | - | 50,900 | - | 50,900 | 0.011% | |||||||||
 |  |  |  |  |  |  |  | ||||||||||
Holdings as of September 17, 2013 | 10,806,135 | 276,116 | 192,114 | 187,014 | 104,300 | 11,877 | 11,577,556 | 2.482% |
 | Aggregate Holding | ||||
Total Holdings | Â | Total % | |||
Holdings as of September 16, 2013 | 18,751,943 | 4.021% | |||
 |  | ||||
Transactions as of September 17, 2013 | (474,100) | -0.102% | |||
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Holdings as of September 17, 2013 | 18,277,843 | 3.919% |
Total Voting Shares Outstanding 466,378,765
Exhibit B.
TIAA-CREF Investment Management, LLC
College Retirement Equities Fund (“CREFâ€) *
* Registered Investment Company
Exhibit C.
Teachers Advisors, Inc.
TIAA-CREF Funds *
TIAA-CREF Life Funds *
TIAA-CREF Active Extension Funds
TIAA Global Equity Income, LLC ±
* Registered Investment Company
± Unregistered investment company