TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi
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1. Identity of the issuer or the underlying issuer |
Purplebricks Group Plc |
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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 acquisition or disposal of instruments with similar economic effect to qualifying financial instruments |
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An event changing the breakdown of voting rights |
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Other (please specify): |
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3. Full name of person(s) subject to the |
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
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4. Full name of shareholder(s) |
See Number 3 |
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5. Date of the transaction and date on |
07 April 2016 |
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6. Date on which issuer notified: |
11 April 2016 |
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7. Threshold(s) that is/are crossed or |
3% |
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8. Notified details: |
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A: Voting rights attached to shares viii, ix |
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Class/type of
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Situation previous |
Resulting situation after the triggering transaction |
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Number |
Number |
Number |
Number of voting |
% of voting rights x |
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Direct |
Direct xi |
Indirect xii |
Direct |
Indirect |
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GB00BYV2MV74 |
Below 3% |
Below 3% |
7,624,217 |
7,624,217 |
0 |
3.173% |
0% |
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B: Qualifying Financial Instruments |
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Resulting situation after the triggering transaction |
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Type of financial |
Expiration |
Exercise/ |
Number of voting |
% of voting |
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N/A |
N/A |
N/A |
N/A |
N/A |
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C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi |
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Resulting situation after the triggering transaction |
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Type of financial |
Exercise price |
Expiration date xvii |
Exercise/ |
Number of voting rights instrument refers to
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% of voting rights xix, xx
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N/A |
N/A |
N/A |
N/A |
N/A
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Nominal |
Delta |
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N/A |
N/A |
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Total (A+B+C) |
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Number of voting rights |
Percentage of voting rights |
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7,624,217 |
3.173% |
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9. Chain of controlled undertakings through which the voting rights and/or the |
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The College Retirement Equities Fund ("CREF") hereby informs you that on April 7, 2016 we bought 1,317,731 shares of Purplebricks Group Plc bringing the total shares owned to 4,452,409. CREF owns these shares through two of its investment accounts, the Global Equities Account and CREF Stock Account. It is our understanding the total voting shares outstanding of Purplebricks Group Plc is 240,259,152 bringing CREF's ownership in Purplebricks Group Plc to a 1.853% 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 April 7, 2016 bought 334,948 shares bringing the total owned to 3,171,808 shares of Purplebricks 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 7,624,217 or 3.173% of the outstanding voting shares of Purplebricks Group Plc. 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 form.
(See Exhibit A)
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Proxy Voting: |
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10. Name of the proxy holder: |
TIAA-CREF Investment Management, LLC/ Teachers Advisors, Inc. |
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11. Number of voting rights proxy holder will cease |
N/A |
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12. Date on which proxy holder will cease to hold |
N/A |
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14. Contact name: |
Stuart R. Brunet |
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15. Contact telephone number: |
+1-415-882-3711 |
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EXHIBIT A
TIAA-CREF
Summary of Holdings of Purplebricks Group Plc
Between April 6, 2016 - April 7, 2016
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TIAA-CREF Investment Management LLC ("CREF") |
Teachers Advisors, Inc. |
Aggregate Holding |
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Global Equities Account |
Stock Account |
Total CREF Holdings |
Total CREF % |
TIAA-CREF International Opportunities Fund
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Total Mutual Funds Holdings |
Total Mutual Funds % |
Total Holdings |
Total % |
Holdings as of April 6, 2016 |
1,844,833 |
1,289,845 |
3,134,678 |
1.305% |
2,836,860 |
2,836,860 |
1.181% |
5,971,538 |
2.485% |
Transactions as of April 7, 2016 |
891,270 |
426,461 |
1,317,731 |
0.548% |
334,948 |
334,948 |
0.139% |
1,652,679 |
0.688% |
Holdings as of April 7, 2016 |
2,736,103 |
1,716,306 |
4,452,409 |
1.853% |
3,171,808 |
3,171,808 |
1.320% |
7,624,217 |
3.173% |
Total Voting Shares Outstanding |
240,259,152 |
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 Opportunities Fund
* Registered Investment Company