Disclosure of Interest in Share Capital
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| TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES |
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| | |
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| | |
| 1. Identity of the issuer or | |
| the underlying issuer | |
| of existing shares to which | Admiral Group Plc |
| voting rights are | |
| attached: | |
| | |
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| 2. Reason for the notification (please tick the appropriate box |
| or boxes): |
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| An acquisition or disposal of voting rights | X |
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| | |
| An acquisition or disposal of qualifying financial | |
| instruments which may result in the acquisition of shares | |
| already issued to which voting rights are attached. | |
| | |
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| An event changing the breakdown of voting rights | |
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| | |
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| | | |
| | TIAA-CREF Investment | |
| | Management, LLC on behalf of | |
| 3. Full name of person(s) | the accounts listed in Exhibit | |
| subject to the | B | |
| notification obligation: | | |
| | Teachers Advisors, Inc. on | |
| | behalf of the funds listed in | |
| | Exhibit C | |
| | | |
|------------------------------+------------------------------------|
| 4. Full name of | |
| shareholder(s) | See number 3 |
| (if different from 3.): | |
|------------------------------+------------------------------------|
| | |
| 5. Date of the transaction | |
| and date on | |
| which the threshold is | 10/28/09 |
| crossed or | |
| reached: | |
| | |
| | |
|------------------------------+------------------------------------|
| 6. Date on which issuer | 11/02/09 |
| notified: | |
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| 7. Threshold(s) that is/are | |
| crossed or | 3% |
| reached: | |
| | |
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|8. Notified details: |
| |
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|A: Voting rights attached to shares |
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|Class/type of | Situation previous | Resulting situation after the triggering transaction |
|shares | to the triggering | |
| | transaction vi | |
|If possible using the ISIN | | Above 3% |
|CODE | Below 3% | |
| | | |
| |-----------------------------------------------------+------------------------------------------------------------------|
| | Number | Number | | Number of voting |% of voting rights|
| | of | of | Number | rights | |
| | Shares | Voting | of shares | | |
| | | Rights viii | | | |
| | | | | | |
| | | | | | |
| | | | | | |
| | | |---------------------+------------------------+-------------------|
| | | | Direct | Direct | Indirect | Direct | Indirect |
|---------------------------+---------------------------+-------------------------+---------------------+---------------------------------+----------|
| | | | | | | | |
| GB0055007982 | 7,514,939 | 7,514,939 | 8,253,714 | 8,253,714 | | 3.10% | |
| | | | | | | | |
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| |
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|B: Qualifying Financial Instruments |
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|Resulting situation after the triggering transaction |
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| | | |Number of voting | |
|Type of financial |Expiration |Exercise/ |rights that may be |% of voting |
|instrument |date |Conversion Period |acquired if the |rights |
| | | |instrument is | |
| | | |exercised/ converted. | |
|----------------------------------------+-----------------------------+--------------------------------------+-----------------------+--------------|
| N/A | N/A | N/A | N/A | N/A |
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| |
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|Total (A+B+C) |
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|Number of voting rights |Percentage of voting rights |
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| 8,253,714 |3.10% |
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| 9. Chain of controlled undertakings through which the voting |
| rights and/or the |
| financial instruments are effectively held, if applicable: |
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| |
| The College Retirement Equities Fund )"CREF") hereby informs you |
| that on October 28, 2009, CREF purchased 738,775 shares of |
| Admiral Group Plc, bringing its total holdings in your company to |
| 8,160,909 shares. CREF owns these shares through two of its |
| investment accounts, the Global Equities Account and the Stock |
| Account. It is our understanding the total voting shares |
| outstanding of Autonomy Corporation Plc are 266,477,291 bringing |
| CREF's ownership in your company to a 3.06% level. |
| |
| For your information, CREF is a U.S. based investment |
| company, which is registered with the Securities and Exchange |
| Commission ("SEC"). CREF has multiple investment accounts, each |
| with separate investment objectives and policies. Al assets in |
| the accounts are beneficially owned by CREF, and all the accounts |
| are manage by TIAA-CREF Investment Management, LLC, an SEC |
| registered investment adviser. |
| |
| Additionally, affiliates of CREF 92,805 shares of Autonomy |
| Corporation Plc. These holdings are owned by the TIAA-CREF Funds |
| ("Funds"(+), and the TIAA-CREF Active Extension Funds ("Active" |
| Extension Unregistered Funds"). The Funds and Active Extension |
| Unregistered Funds are managed by Teachers Advisors, Inc., an SEC |
| registered investment adviser that is affiliated with TIAA-CREF |
| Investment Management, LLC. These affiliated funds, aggregated |
| with those of CREF, own a total of 8,253,714, or 3.10% 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) |
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| |
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| Proxy Voting: |
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| 10. Name of the proxy holder: | Equitable Nominees Limited |
|--------------------------------+----------------------------------|
| 11. Number of voting rights | N/A |
| proxy holder will cease | |
| to hold: | |
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| 12. Date on which proxy holder | N/A |
| will cease to hold | |
| voting rights: | |
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| 13. Additional information: | None |
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| 14. Contact name: | Michael Albert |
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| 15. Contact telephone number: | 212-490-9000 |
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EXHIBIT A
Summary of Holdings of Admiral Group Plc
Between October 28, 2009 - October 29, 2009
TIAA-CREF Investment Management, LLC
CREF
Global CREF Stock
Account Total Holdings
Equities
Account
CREF
Holdings as of October 28,
2009
1,732,315
5,689,819
7,422,134
Transactions as of October 28, 2009
11,400
727,375 738,775
Holdings as of October 29,2009
1,743,715
6,417,194
8,160,909
Teachers Advisors, Inc.
TIAA-CREF Funds TIAA-CREF Funds
Total Holdings
Enhanced International International
Equity Mutual Funds Equity Index
Fund Index
Fund
Holdings as of October 28, 2009
58,935
24,983 83,918
Transactions as of October 28, 2009
-
- -
Holdings as of October 29, 2009
58,935
24,983 83,918
Teachers Advisors, Inc.
Active Extension Fund Total Holdings
I, LLC Unregistered Funds
Holdings as of October 28, 2009
8.887 8.887
Transactions as of October 28, 2009
-
Holdings as of October 29,2009
8.887
8.887
Aggregate Holdings as of October 29, 2009
Total Shares Held 8,253,714
Voting Shares Outstanding as of October 29, 2009
Total Voting Shares 266,477,291
Total Percentage Held
October 28, 2009 2.820%
October 29, 2009 3.097%
Exhibit B.
TIAA-CREF Investment Management, LLC
College Retirement Equities Fund ("CREF") *
* CREF Stock Account
* CREF Global Equities Account
* Registered Investment Company
Exhibit C.
Teachers Advisors. Inc.
TIAA-CREF Funds*
* Enhanced International Equity Index Fund
* International Equity Index Fund
TIAA-CREF Active Extension Funds
* Active Extension Fund I - LLC **
* Registered Investment Companies
** Unregistered Fund
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