HSBC Asset Management Europe Ld
27 June 2002
FORM SAR 3
Date of disclosure..27 JUNE 2002........
DISCLOSURE UNDER RULE 3 OF THE RULES GOVERNING
SUBSTANTIAL ACQUISITIONS OF SHARES ('SARs')
Date of acquisition..31 MAY 2002..............................
Acquisition in.......BWD SECURITIES LTD.......................(name of company)
(1) Class of voting shares Number of shares/rights If rights over shares
(eg ordinary shares) over shares acquired acquired, as opposed
to the shares
themselves, specify
nature of rights
ORD........ 69,615.........shares .....................
...N/A..........rights
(2) Resultant total holding Resultant total holding Total percentage
of voting shares (and % of rights over shares
of total voting shares (and % of total voting
in issue) shares in issue)
4,034,615.........(18.30%) ...............( %) .............(18.30%)
(3) Party making disclosure..HSBC ASSET MANAGEMENT (EUROPE) LIMITED............
(4) (a) Name of person acquiring shares or rights over shares ............
and, if different, beneficial owner...DISCRETIONARY CLIENTS.......
(b) Names of any other persons acting by
agreement or understanding (see SAR 5)....N/A.....................
Signed, for and on behalf of the party named in (3) above...................
(Also print name of signatory)..PETER HEAD.....................................
Telephone and extension number..020 7336 5802..................................
Note. Under SAR 5, the holdings of and acquisitions by persons acting by
agreement or understanding must be aggregated and treated as a holding of or
acquisition by one person. Note 3 on SAR 5 requires persons who must aggregate
holdings to disclose certain disposals.
For full details of the SARs disclosure requirements, see Rules 3 and 5 of the
SARs. If in doubt, contact the Panel on Takeovers and Mergers, Monitoring
Section, Tel. No: 020 7638 0129.
HSBC Asset Management (Europe) Limited
BWD Securities Limited Ord. 10p Shares
Summary of transactions and resultant totals in BWD.
Date Amount Bought Price Per Unit Resultant Total % Total
13-Mar-02 16,500 GBP 4.65 3,310,000 15.02
19-Apr-02 117,700 GBP 4.85 3,552,700 16.12
01-May-02 155,000 GBP 4.70 3,765,000 17.08
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