Source - RNS
RNS Number : 9720M
Tungsten Corporation PLC
19 October 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

Tungsten Corporation 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

Edmund Truell

4. Full name of shareholder(s)
 (if different from 3.):iv

Disruptive Capital Investments Limited

5. Date of the transaction and date on
which the threshold is crossed or
reached:
v

14 October 2016

6. Date on which issuer notified:

19 October 2016

7. Threshold(s) that is/are crossed or
reached:
vi, vii

13%



 

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

GB00B7Z0Q5002

Ordinary Shares

17,451,988

17,451,988



11,451,988


9.1%



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

 

Loan Facility

Contract for Difference


Oct 2019

 


6,000,000

4,188,697

Nominal

Delta

8.1%



Total (A+B+C)

Number of voting rights

Percentage of voting rights

21,640,685

17.2%



 

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

 

Disruptive Capital Investments Limited holds 11,451,988 voting rights through ordinary shares - 9.1%

Flexible Securities Limited holds 4,188,697 voting rights through CFD's - 3.3%

Disruptive Capital Investments Limited has loaned Equities First Holdings, LLC 6,000,000 ordinary shares - 4.8%


Proxy Voting:

10. Name of the proxy holder:


11. Number of voting rights proxy holder will cease to hold:


12. Date on which proxy holder will cease to hold voting rights:




13. Additional information:


[Additional information provided by Notifier, accompanying TR1]

 

Disclosure of financing agreement 

 

Disruptive Capital Investments Limited ("DCIL") is entering into a financing arrangement with Equities First Holdings LLC ("EFH"). Under the terms of the facility, DCIL has transferred 6,000,000 Tungsten shares to EFH as collateral.

 

DCIL's interests remain aligned with those of other shareholders and the EFH arrangement is such that DCIL remains fully financially and economically exposed to Tungsten's share price. Whilst DCIL has transferred title to the shares for the period of the facility, EFH have warranted that they will refrain from short selling and will not exercise any voting or other such consensual rights or powers under the terms of the agreement. Strategic voting rights will be exercised in collaboration with DCIL.

 

As a result of this arrangement, for the period of the facility DCIL has an interest in the voting rights attaching to 11,451,988 Ordinary shares representing 9.1 per cent of the issued ordinary share capital of the Company.

 

 

14. Contact name:

Mark Hooton

15. Contact telephone number:

01481 742400

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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