Holding(s) in Company

RNS Number : 2290A

Britvic plc

03 June 2016

 

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi
1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: ii			Britvic 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: iii		TIAA-CREF Investment Management, LLC on behalf of the accounts referred to in Exhibit B Teachers Advisors, Inc. on behalf of the funds referred to in Exhibit C Nuveen Investments, Inc. on behalf of the affiliates referred to in Exhibit D
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		01 June  2016
6. Date on which issuer notified:		03 June  2016
7. Threshold(s) that is/are crossed or reached: vi, vii		4%

8. Notified details:

A: Voting rights attached to shares viii, ix

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 x

Direct

Direct xi

Indirect xii

Direct

Indirect

GB00B0N8QD54

7,791,909

7,791,909

7,611,365

7,611,365

0

2.90%

0%

US1111901047 (ADRs in relation to Ordinary Shares with ISIN GB00B0N8QD54)

1,370,377

2,740,754

1,370,377

2,740,754

0

1.043%

0%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration date xiii

Exercise/ Conversion Period xiv

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 xv, xvi

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

Delta

N/A

N/A

Total (A+B+C)

Number of voting rights

Percentage of voting rights

10,352,119

3.94%

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable: xxi
The College Retirement Equities Fund ("CREF") hereby informs you as of June 1, 2016 we sold 70,857 shares, bringing the total owned to 7,107,512 shares of Britvic Plc.  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 Britvic Plc is 262,781,400, thereby  bringing CREF's ownership in the company to 2.705%.  TIAA-CREF Investment Management LLC ("TCIM") is a U.S.-based SEC registered investment adviser that manages CREF. Additionally, affiliates of CREF on June 1, 2016 sold 109,687 shares, bringing their total to 493,103 shares of Britvic Plc.  This is 0.188% of Britvic Plc. These shares are owned by the TIAA-CREF Funds (the "TC Funds"), TIAA-CREF Life Funds (the "Life Funds") and Active Extension Fund III ("AEF III").  The TC Funds and the Life Funds are U.S.-based SEC registered investment companies managed by Teachers Advisors, Inc. ("TAI"), an SEC registered investment adviser.  AEF III is a private fund wholly owned by Teachers Insurance and Annuity Association of America ("TIAA"), a New York insurance company.  TAI is affiliated with TCIM and both are indirect, wholly-owned subsidiaries of TIAA. Nuveen Investments, Inc. (NII) affiliated investment adviser owns an additional 10,750 ordinary shares and 1,370,377 ADRs in Britvic Plc (We note that one ADR equals two ordinary shares so NII's holding of 1,370,377 ADRs equates to 2,740,754 ordinary shares). The combined TIAA-Nuveen enterprise now has aggregated holdings of 10,352,119 shares or 3.94% of the issued and outstanding voting shares in Britvic Plc.  Each of TCIM, TAI and NII are aggregating their holdings in Britvic Plc as required by current FCA Disclosure and Transparency Rules.  However, each of TCIM, TAI and NII separately and independently vote all proxies for shares held in Britvic Plc.  (See Exhibit A)
Proxy Voting:
10. Name of the proxy holder:		TIAA-CREF Investment Management, LLC / Teachers Advisors, Inc. / Nuveen Investments, 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:	None
14. Contact name:	Stuart R. Brunet
15. Contact telephone number:	[phone]

EXHIBIT A

TIAA-CREF

Summary of Holdings of Britvic PLC

Between May 31, 2016 - June 1, 2016

ORDINARY (GB00B0N8QD54)

	TIAA-CREF Investment Management LLC    ("CREF")				Teachers Advisors, Inc. ("TAI")					Nuveen Investments, Inc ("NII")			Aggregate Holding
	Global Equities Account	Stock Account	Total CREF Holdings	Total CREF %	Active Extension Fund III	TIAA-CREF Growth and Income Fund	TIAA-CREF Life Growth and Income Fund	Total Mutual Funds  Holdings	Total Mutual Funds %	NWQ Investment Management Company, LLC	Total Nuveen	Total Nuveen %	Total Holdings	Total %
Holdings as of May 31, 2016	2,459,173	4,719,196	7,178,369	2.732%	7,075	580,839	14,876	602,790	0.229%	10,750	10,750	0.004%	7,791,909	2.965%
Transactions as of June 1, 2016	-	(70,857)	(70,857)	-0.027%	-	(106,948)	(2,739)	(109,687)	0.042%	-	-	-	(180,544)	0.069%
Holdings as of June 1, 2016	2,459,173	4,648,339	7,107,512	2.705%	7,075	473,891	12,137	493,103	0.188%	10,750	10,750	0.004%	7,611,365	2.90%

ADR (US1111901047)	Nuveen Investments, Inc ("NII")
	NWQ Investment Management Company, LLC	Total Nuveen	Converted 1 ADR=2 ORD	Total Nuveen %	Total Holdings
Holdings as of May 31, 2016	1,370,377	1,370,377	2,740,754	1.043%	2,740,754
Transactions as of June 1, 2016	-	-	-	-	-
Holdings as of June 1, 2016	1,370,377	1,370,377	2,740,754	1.043%	2,740,754

Total Voting Rights: 262,781,400          

Total CREF/TAI/NII holdings: 10,352,119

Total percentage: 3.94%

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 *

·    Growth and Income Fund

·    Active Extension Fund III

TIAA-CREF Life Funds *

·    Life Growth and Income Fund

*     Registered Investment Company

Exhibit D.

Nuveen Investments, Inc.*

·    NWQ Investment Management Company, LLC.

*     Registered Investment Adviser.

 

END

 

 

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