Holding(s) in Company

RNS Number : 0011C

Man Group plc

11 March 2014

 



TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

Man Group 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
An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments
An event changing the breakdown of voting rights
Other (please specify):

3. Full name of person(s) subject to the notification obligation:	TIAA-CREF Investment Management, LLC on behalf of the accounts listed in Exhibit B Teachers Advisors, Inc. on behalf of the funds Listed in Exhibit C
4. Full name of shareholder(s) (if different from 3.):	See Number 3
5. Date of the transaction and date on which the threshold is crossed or reached:	7 March 2014
6. Date on which issuer notified:	10 March 2014
7. Threshold(s) that is/are crossed or reached:	4%

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	Number of shares	Number of voting rights		% of  voting rights
			Direct	Direct	Indirect	Direct	Indirect
GB00B83VD954	69,286,700	69,286,700	76,658,700	76,658,700	0	4.203%	0%

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

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	Exercise/ Conversion period	Number of voting rights instrument refers to	% of voting rights
N/A	N/A	N/A	N/A	N/A	Nominal	Delta
					N/A	N/A

Total (A+B+C)
Number of voting rights	Percentage of voting rights
76,658,700	4.203%

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

The College Retirement Equities Fund ("CREF") hereby informs you that on March 7, 2014 the total shares owned of Man Group Plc is 33,274,024.  CREF owns these shares through two of its investment accounts, the Global Equities Account and Stock Account.  It is our understanding the total voting shares outstanding of Man Group Plc is 1,823,733,081 bringing CREF's ownership in your company to a 1.825% 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.  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 March 7, 2014 bought 7,372,000 shares bringing the total owned 43,384,676 shares of Man Group Plc.  These holdings are owned by the TIAA-CREF Funds ("Funds"), and the TIAA-CREF Life Funds ("Life Funds"), each of which are SEC registered investment companies.  The Funds and Life 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 76,658,700 or 4.203% 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)

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

13. Additional information:	N/A
14. Contact name:	Rachel Rowson
15. Contact telephone number:	020 7144 1732

EXHIBIT A

TIAA-CREF

Summary of Holdings of Man Group PLC

Between March 6, 2014 - March 7, 2014

	TIAA-CREF Investment Management LLC    ("CREF")				Teachers Advisors, Inc.					Aggregate Holding
	Global Equities Account	Stock Account	Total CREF Holdings	Total CREF %	TIAA-CREF International Equity Fund	TIAA-CREF Life International Equity Fund	TIAA-CREF Intl Equity Index Fund	Total Mutual Funds  Holdings	Total Mutual Funds %	Total Holdings	Total %
Holdings as of March 6,2014	3,573,424	29,700,600	33,274,024	1.825%	31,577,273	861,979	3,573,424	36,012,676	1.975%	69,286,700	3.799%
Transactions as of March 7, 2014	-	-	-	0.000%	7,175,760	196,240	-	7,372,000	0.404%	7,372,000	0.404%
Holdings as of March 7, 2014	3,573,424	29,700,600	33,274,024	1.825%	38,753,033	1,058,219	3,573,424	43,384,676	2.379%	76,658,700	4.203%

Total Voting Shares Outstanding                      1,823,733,081            

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 *

·    International Equity Fund

·    International Opportunities Fund

TIAA-CREF Life Funds *

·    Life International Equity Fund

*     Registered Investment Company

 

END

 

 

HOLLIFFAVRILLIS