Holding(s) in Company
SCHEDULE 10
NOTIFICATION OF MAJOR INTERESTS IN SHARES
1. Name of company
ST IVES PLC
2. Name of shareholder having a major interest
SILCHESTER INTERNATIONAL INVESTORS LIMITED
3. Please state whether notification indicates that it is in respect of holding
of the shareholder named in 2 above or in respect of a non-beneficial interest
or in the case of an individual holder if it is a holding of that person's
spouse or children under the age of 18
PLEASE SEE ATTACHED NOTIFICATION
4. Name of the registered holder(s) and, if more than one holder, the number of
shares held by each of them
PLEASE SEE ATTACHED NOTIFICATION
5. Number of shares/amount of stock acquired
N/A
6. Percentage of issued class
N/A
7. Number of shares/amount of stock disposed
N/A
8. Percentage of issued class
N/A
9. Class of security
ORDINARY SHARES OF 10P EACH
10. Date of transaction
N/A
11. Date company informed
29TH JUNE 2006
12. Total holding following this notification
21,783,470
13. Total percentage holding of issued class following this notification
21.04%
14. Any additional information
ST IVES PLC'S ISSUED SHARE CAPITAL AS AT 29TH JUNE 2006 IS 103,551,005 ORDINARY
SHARES OF 10P EACH
15. Name of contact and telephone number for queries
PHILIP HARRIS TELEPHONE: 020 7928 8844
16. Name and signature of authorised company official responsible for making
this notification
PHILIP HARRIS, COMPANY SECRETARY, ST IVES PLC
Date of notification 29TH JUNE 2006
LETTER TO ST IVES PLC ON SILCHESTER INTERNATIONAL INVESTORS LIMITED HEADED
PAPER
Company Secretary
ST IVES PLC
St Ives House
Lavington Street
London
SE1 0NX
Fax no.: 020 7902 6566
29 June 2006
Dear Company Secretary
Silchester International Investors Limited ("Silchester") acts as an Investment
Manager for a number of commingled funds ("our Clients"). In acting for our
Clients, we are given full discretion over their investments, and are empowered
to vote on their behalf. However, we do not act as their Custodian and
therefore shares are not held in our name, but in the nominee name of our
Clients' Custodian bank.
In addition, Silchester holds 49.9% of the issued share capital of Sanderson
Asset Management Limited ("Sanderson") a UK limited company that also acts as
Investment Manager for a number of commingled funds and separate accounts. In
acting for its clients, Sanderson are given full discretion over their
investments, and are empowered to vote on their behalf. However, Sanderson do
not act as its clients' Custodian and therefore shares are not held in
Sanderson's name, but in the nominee name of Sanderson's clients' Custodian
bank.
Silchester's share ownership in Sanderson does not allow Silchester to exercise
any direct or indirect control over Sanderson's investment strategy, philosophy
or implementation, the investments that Sanderson may purchase or sell on
behalf of its clients, or the manner in which Sanderson may vote proxies that
arise from its client investments. However, Silchester is deemed to have an
`interest' in shares that Sanderson controls by virtue of Section 203(2)(b) of
the Companies Act 1985.
Recent purchases/sales of shares in your company by Silchester on behalf of its
clients, have resulted in Silchester having an interest in the following shares
(also see attached):
SILCHESTER 18,591,470
Recent purchases/sales of shares in your company by Sanderson on behalf of its
clients, have resulted in Sanderson having an interest in the following shares,
and Silchester having an interest over the same shares for the purposes of
Section 203(2)(b) of the Companies Act 1985 (also see attached):
SANDERSON 3,192,000
Our records show that you have the following shares in that class:
ST IVES PLC 103,551,005
As such, Silchester has an interest over 21.04% of the shares of that class
and, of that, two of Silchester's clients control 11.49% and 4.8%. This
interest is being notified in fulfillment of the obligations imposed by Section
198-202 of the Companies Act 1985. Silchester does not have an interest
mentioned in Section 208(5) of the Companies Act 1985 in any of the shares to
which this notification relates.
The Takeover Panel has advised that Silchester is not required to report its
Clients' shareholdings in aggregate with Sanderson for purposes of Rule 8.3 of
the Takeover Code.
Yours faithfully,
ALISON RAVENSCROFT
Head of Dealing
SILCHESTER INTERNATIONAL INVESTORS LIMITED - CLIENT OWNERSHIP
Company:
ST IVES PLC Attention: Company Secretary
Share Class: Address: St Ives House
ORDINARY Lavington Street
London
Issued Shares: SE1 0NX
103,551,005 Fax No: 0207 902
6566
SII Client Ownership:
18,591,470 Date: 29 June 2006
% of Shares
17.95
SII Account Nominee Silchester Silchester %
Voting Current Holding
Authority Share at Fund
Holding Level
Silchester International Investors Northern YES 4,968,150 4.80
International Value Equity Group Trust
Trust Company
c/o Silchester International
Investors, Inc.
780 Third Avenue, 42nd Floor,
New York, New York 10017
Silchester International Investors Northern YES 819,429 0.79
Tobacco Free International Value Trust
Equity Trust Company
c/o Silchester International
Investors, Inc.
780 Third Avenue, 42nd Floor,
New York, New York 10017
Silchester International Investors Northern YES 11,895,291 11.49
International Value Equity Trust Trust
c/o Silchester International Company
Investors, Inc.
780 Third Avenue, 42nd Floor,
New York, New York 10017
The Calleva Trust Northern YES 908,600 0.88
c/o The Bank of Bermuda Limited Trust
The Bank of Bermuda Building Company
6 Front Street, Hamilton HM11,
Bermuda
TOTAL 18,591,470
Please refer to the following page for information on Sanderson Asset
Management Limited's ("Sanderson's") client holdings. Under the terms of
Sanderson's privacy policy, the names, addresses, or other identifying
information of Sanderson's client accounts are not shared with Silchester
employees.
SANDERSON ASSET MANAGEMENT - CLIENT OWNERSHIP
Company:
ST IVES PLC Attention: Company Secretary
Share Class: Address: St Ives House
ORDINARY Lavington Street
London
Issued Shares: SE1 0NX
103,551,005 Fax No: 0207 902
6566
SAM Client Ownership:
3,192,000 Date: 29 June 2006
% of Shares
3.08
SAM Account Nominee Sanderson Voting Sanderson % Holding
Authority Current Share at Fund
Holding Level
BUST Northern Trust Co Yes 1,205,000 1.16
CAT Pictet & Cie Yes 73,000 0.07
DYN State Street Yes 45,000 0.04
EUF State Street Yes 255,000 0.25
GOLF Bank of New York Yes 50,000 0.05
GREEN Northern Trust Co Yes 23,000 0.02
GRIT Northern Trust Co Yes 385,000 0.37
INGOT Mellon Trust Yes 99,000 0.10
MINI State Street Yes 151,000 0.15
OCEAN Northern Trust Co Yes 73,000 0.07
OVAL Mellon Trust Yes 107,000 0.10
PEARL Northern Trust Co Yes 30,000 0.03
RAIN Citigroup Yes 75,000 0.07
STAMP Northern Trust Co Yes 52,000 0.05
TIME Bank of New York Yes 18,000 0.02
TRAY Northern Trust Co Yes 317,000 0.31
WHEAT Mellon Trust Yes 98,000 0.09
WINDY Northern Trust Co Yes 69,000 0.07
WOGAN Northern Trust Co Yes 67,000 0.06
TOTAL 3,192,000
Under the terms of Sanderson Asset Management Limited's ("Sanderson's") privacy
policy, the names, addresses, or other identifying information of Sanderson's
client accounts are not shared with Silchester employees.