Holding(s) in Company

RNS Number : 0489D

Dolphin Capital Investors Limited

23 April 2013


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		DOLPHIN CAPITAL INVESTORS LIMITED
2. Reason for the notification (please tick the appropriate box or boxes):
An acquisition or disposal of voting rights			YES
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	FIR TREE INC.
4. Full name of shareholder(s) (if different from 3.):^iv	See box 9 below
5. Date of the transaction and date on which the threshold is crossed or reached: ^v	18 April 2013
6. Date on which issuer notified:	23 April 2013
7. Threshold(s) that is/are crossed or reached: ^{vi, vii}	5%

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

VGG2803G1028

31,205,000

38,425,000

5.98%

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

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}

US$ 2,020,000 of convertible bonds

US$ 0.7246

Maturity 31.03.2016

Convertible until 22.03.2016

2,787,745 (approx)

Nominal

Delta

0.43%

Total (A+B+C)

Number of voting rights

Percentage of voting rights

41,212,745

6.41%

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

FIR TREE INC., investor manager of:-

Fund	No. of voting rights attached to shares	% of voting rights
Fir Tree REF III Master Fund, LLC	440,000	0.07%
Fir Tree Value Master Fund, L.P.	37,985,000	5.91%

	No. of voting rights through convertible bonds
Fir Tree Capital Opportunity Master Fund, L.P. ("FCO")	2,787,745	0.43%

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:

Calculation based on:

· 642,440,167 total shares in issue.

· FCO holds convertible bonds convertible to approx 2,787,745 shares (based on conversion price: US$0.7246)

· If FCO exercised all convertible bonds held (and assuming no other convertible bonds or warrants had been exercised), the funds described at box 9 above would hold a combined total 6.41% of voting rights in the then issued share capital

14. Contact name:

Martin T. Towey, Fir Tree Inc.

15. Contact telephone number:

212-599-0090

This information is provided by RNS

The company news service from the London Stock Exchange

END

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