Holding(s) in Company

RNS Number : 0206C

Barratt Developments PLC

05 November 2009

 



TR-1:  notification of major interests in shares 

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:	Barratt Developments PLC
2. Reason for the notification (please tick the appropriate box or boxes):
An acquisition or disposal of voting rights		N/A
An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached		N/A
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments		YES
An event changing the breakdown of voting rights		N/A
Other (please specify): Please see Box 13 ("Additional Information"), below.		N/A
3. Full name of person(s) subject to the notification obligation:	TREMBLANT CAPITAL LP TREMBLANT ASSET MANAGEMENT LP
4. Full name of shareholder(s) (if different from 3.):	TREMBLANT PARTNERS MASTER FUND LP TREMBLANT PARTNERS LP TREMBLANT CONCENTRATED MASTER FUND LP TREMBLANT CONCENTRATED FUND LP
5. Date of the transaction and date on which the threshold is crossed or reached:	3 NOVEMBER 2009
6. Date on which issuer notified:	4 NOVEMBER 2009
7. Threshold(s) that is/are crossed or reached:	4% and 5%. See point 13 for additional information

8. Notified details:
A: Voting rights attached to shares
Class/type of shares   if possible using the ISIN CODE		Situation previous to the Triggering transaction			Resulting situation after the triggering transaction
		Number of Shares	Number of Voting Rights viii		Number of shares	Number of voting rights ix		% of voting rights
						Direct  x	Indirect xi	Direct	Indirect
ORDINARY GB0000811801		Below 3%		Below 3%			Below 3%		Below 3%

B: Financial Instruments
Resulting situation after the triggering transaction xii
Type of financial instrument	Expiration date xiii	Exercise/ Conversion Period/ Date xiv	Number of voting rights that may be acquired if the instrument is exercised/ converted.	% of voting rights
N/A

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi
Resulting situation after the triggering transaction xii
Type of financial instrument	Expiration price xiii	Expiration date xvii	Exercise/ Conversion Period xviii	Number of voting rights instrument refers to	% of voting rights xix xx
Contract for Differences	N/A	N/A	N/A	Below 3%	Nominal	Delta
						Below 3%
Nil Paid Rights	N/A	3 November 2009	N/A	13,569,314	Nominal	Delta
						3.23%

Total (A+B+C)
Number of voting rights	% of voting rights
24,007,251	5.72%

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable xxi:

The shares of Barratt Developments PLC, and the financial instruments relating to such shares, are held by Tremblant Partners Master Fund LP, Tremblant Partners LP, Tremblant Concentrated Master Fund LP, and Tremblant Concentrated Fund LP. Tremblant Capital LP is the investment manager of Tremblant Partners Master Fund LP and Tremblant Partners LP, and has been granted full discretion to exercise the voting rights relating to the shares and financial instruments held by these funds under the related investment management agreements. Tremblant Asset Management LP is the investment manager of Tremblant Concentrated Master Fund LP and Tremblant Concentrated Fund LP, and has been granted full discretion to exercise the voting rights relating to the shares and financial instruments held by these funds under the related investment management agreements. Mr. Brett Barakett is the managing member of the general partners of each of Tremblant Capital LP and Tremblant Asset Management LP, and therefore has an indirect interest in all of the voting rights which are the subject of this notification.

Proxy Voting:
10. Name of the proxy holder:	N/A
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

13. Additional information:	As required by DTR 5.8.8, the percentage of voting rights of 5.72% used in this announcement includes voting rights in respect of Nil Paid Rights and was calculated using the number of voting rights in existence at 31 October 2009, being the disclosure made by Barratt Developments PLC's (the "Company") in accordance with DTR 5.6.1 (419,634,685 ordinary shares) at the time of the expiration date of such Nil Paid Rights. As a result of the Company's most recent announcement made on the filing date, 4 November 2009, updating the voting rights post the completion of its rights issue, the most current shares outstanding is 965,159,775 ordinary shares. Based on this, the total percentage of voting rights would be 2.49%.
14. Contact name:	Mr Laurence Dent Group General Counsel & Company Secretary of Barratt Developments PLC
15. Contact telephone number:	01530 278278

Notes to the Forms 

 

END

 

 

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