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Prairie Mining #PDZ – JP Morgan increases holding to 5.3%
TR-1: Standard form for notification of major holdings
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NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible)i |
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1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attachedii: |
Prairie Mining Limited |
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1b. Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate) |
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Non-UK issuer |
X |
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2. Reason for the notification (please mark the appropriate box or boxes with an “X”) |
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An acquisition or disposal of voting rights |
X |
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An acquisition or disposal of financial instruments |
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An event changing the breakdown of voting rights |
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Other (please specify)iii: |
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3. Details of person subject to the notification obligationiv |
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Name |
JPMorgan Chase & Co. |
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City and country of registered office (if applicable) |
Wilmington, Delaware, USA |
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4. Full name of shareholder(s) (if different from 3.)v |
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Name |
J.P. Morgan Securities Plc, J.P. Morgan Securities Australia Limited
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City and country of registered office (if applicable) |
London, United Kingdom |
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5. Date on which the threshold was crossed or reachedvi: |
06 April 2018 |
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6. Date on which issuer notified (DD/MM/YYYY): |
10 April 2018 |
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7. Total positions of person(s) subject to the notification obligation |
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% of voting rights attached to shares (total of 8. A) |
% of voting rights through financial instruments |
Total of both in % (8.A + 8.B) |
Total number of voting rights of issuervii |
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Resulting situation on the date on which threshold was crossed or reached |
5.30% |
0.00% |
5.30% |
167,498,969 |
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Position of previous notification (if applicable) |
N/A |
N/A |
N/A |
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8. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii |
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A: Voting rights attached to shares |
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Class/type of ISIN code (if possible) |
Number of voting rightsix |
% of voting rights |
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Direct (Art 9 of Directive 2004/109/EC) (DTR5.1) |
Indirect (Art 10 of Directive 2004/109/EC) (DTR5.2.1) |
Direct (Art 9 of Directive 2004/109/EC) (DTR5.1) |
Indirect (Art 10 of Directive 2004/109/EC) (DTR5.2.1) |
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AU000000PDZ2 |
8,874,110 |
5.30% |
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SUBTOTAL 8. A |
8,874,110 |
5.30% |
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B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a)) |
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Type of financial instrument |
Expiration |
Exercise/ |
Number of voting rights that may be acquired if the instrument is exercised/converted. |
% of voting rights |
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SUBTOTAL 8. B 1 |
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B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b)) |
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Type of financial instrument |
Expiration |
Exercise/ |
Physical or cash settlementxii |
Number of voting rights |
% of voting rights |
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SUBTOTAL 8.B.2 |
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9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an “X”) |
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Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuerxiii |
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Full chain of controlled undertakings through which the voting rights and/or the |
X |
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Namexv |
% of voting rights if it equals or is higher than the notifiable threshold |
% of voting rights through financial instruments if it equals or is higher than the notifiable threshold |
Total of both if it equals or is higher than the notifiable threshold |
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JPMorgan Chase & Co. |
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JPMorgan Chase Bank, National Association |
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J.P. Morgan International Finance Limited |
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J.P. Morgan Capital Holdings Limited |
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J.P. Morgan Securities plc |
5.10% |
5.10% |
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10. In case of proxy voting, please identify: |
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Name of the proxy holder |
N/A |
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The number and % of voting rights held |
N/A |
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The date until which the voting rights will be held |
N/A |
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11. Additional informationxvi |
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Chain of controlled undertakings:
JPMorgan Chase & Co. JPMorgan Chase Bank, National Association (100%) J.P. Morgan International Finance Limited (100%) J.P. Morgan Capital Holdings Limited (100%) J.P. Morgan Securities plc (100%)
JPMorgan Chase & Co. JPMorgan Chase Bank, National Association (100%) J.P. Morgan International Finance Limited (100%) J.P. Morgan Overseas Capital LLC (100%) J.P. Morgan Australia Group Pty Limited (100%) J.P. Morgan Operations Australia Limited (100%) J.P. Morgan Administrative Services Australia Limited (100%) J.P. Morgan Securities Australia Limited (100%)
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Place of completion |
London, United Kingdom |
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Date of completion |
10 April 2018 |
Prairie Mining #PDZ – JP Morgan becomes a substantial shareholder
On 22 March 2018, Prairie Mining Limited (Company) was notified via the filing of a Form 603 with ASX that JP Morgan Chase and Co and its affiliates (JPMorgan) had provided notice of it becoming a substantial holder (as defined by the Corporations Act 2001) of the Company as of 20 March 2018, having purchased a total of 8,466,223 ordinary shares, representing 5.05% of the Company’s issued share capital.
For further information please contact:
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Prairie Mining Limited |
Tel: +44 207 478 3900 |
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Ben Stoikovich, Chief Executive Officer |
Email: info@pdz.com.au |
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Sapan Ghai, Head of Corporate Development |
This information is provided by RNS
Salt Lake Potash #SO4 – Holdings in company
Salt Lake Potash Limited #SO4 advises that it was notified on 19 March 2018, via the filing of a Form 605 – Notice of ceasing to be a substantial holder with the ASX, – that on 15 March 2018, following a disposal, JP Morgan Chase & Co. and its affiliates ceased to be a substantial holder of the Company, as defined by the listing rules of the ASX. As at 15 March 2018, JP Morgan Chase & Co. and its affiliates held an interest in 8,748,416 ordinary shares of no par value each in the capital of the Company, representing 4.998 per cent of the Company’s issued share capital.
For further information please visit www.saltlakepotash.com.au or contact:
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Sam Cordin |
Salt Lake Potash Limited |
Tel: +61 8 9322 6322 |
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Colin Aaronson/Richard Tonthat |
Grant Thornton UK LLP (Nominated Adviser) |
Tel: +44 (0)207 383 5100 |
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Nick Tulloch/Beth McKiernan |
Cenkos Securities plc (Joint broker) |
Tel: +44 (0) 131 220 6939 |
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Jerry Keen/Toby Gibbs |
Shore Capital (Joint broker) |
Tel: +44 (0 207 468 7967 |
This information is provided by RNS
Ken Baksh – UK and US financials a hot sector for 2018?
by Ken Baksh
Ken has over 35 years of investment management experience, working for two major City institutions between 1976 and 2002.
Since then he has been engaged as a self-employed investment consultant. He has worked with investment trusts, unit trusts, pension funds, charities, Life Fund,hedge fund and private clients. Individual asset managed have included direct equities and bonds pooled vehicles currencies, derivatives and commodities.
Projects undertaken in a number of areas including asset allocation, risk control, performance measurement, marketing, individual company research, legacy portfolios and portfolio construction. He has a BSc(Mathematics/Statistics) and is a Fellow Member of the UK Society of Investment Professionals.
Phone 07747 114 691
Polar Capital Global Financials Trust PLC (PCFT)
One of the sectors which may outperform next year, and which has received a barrage of better than expected news over the last few weeks could well be financials, especially UK and US names, which have lagged many other sectors over 2017 and offer good value on several investment ratios.
Over the last week investors poured $1.5 billion into funds that buy US financial stocks, extending a rotation into the area, on optimism about the prospects of lighter regulation and lower tax. The regulatory backdrop has become more favourable which increases the likelihood of buy backs and dividend increases, while the progression of tax cuts through Congress has further increased the positive sentiment. If that was not enough, the Federal Reserve is about to raise interest rates with the prospects of more hikes in 2018, further aiding the sector.
Meanwhile, across the pond, rules agreed following the Basel III agreement proved less onerous for European Banks than feared causing the start of a rally, led by Lloyds, which is strongly tipped to increase its dividend, and whose ordinary and preference shares are strongly on my buy list of direct stocks
A good way to gain this exposure is through the Polar Capital Global Financials Trust (PCFT-138p)
- This investment trusts seeks to generate a growing dividend and capital appreciation by investing primarily in a global portfolio of securities issued by companies within the financial sector operating in the banking, insurance, property and other sub sectors.
- The trust was launched in July 2013 since when the asset value and benchmark have outperformed the financial benchmark.
- As at end November 2017, the fund was split geographically as 41% USA,34% Europe (incl UK) and 13% Asia (excl Japan). By sector banks represented over 63% with names such as JP Morgan, Bank of America, ING Group, Chubb, BNP Paribas, KBC, Sampo, Citigroup amongst the top holdings.
- The trust currently trades at a discount to assets of around 4%.
- The fixed life of May 2020 should limit significant discount widening and it should be remembered that the trust has traded at a premium for significant periods.
- A dividend is paid twice yearly, and the current yield is 2.65%
Sources:London Stock Exchange,Numis,Winterflood,Trustnet.
www2.trustnet.com/Factsheets/Factsheet.aspx?fundCode=JFFOC&univ=T&pageType=overview&skipre=1
www.londonstockexchange.com/exchange/news/market-news/market-news-detail/PCFT/13456340.html
Full fourth quarterly report will be available in January and suggested portfolio strategy/individual recommendations are available. Ideas for a ten stock FTSE portfolio, new model pooled fund portfolios (cautious, balanced adventurous, income), 30 stock income lists, hedging ideas and a list of shorter term low risk/ high risk ideas can also be purchased, as well as bespoke portfolio construction/restructuring. I expect more clients to consider switching some final salary pots to SIPP over coming quarters, as transfer values start to slip (partially in line with rising gilt yields) and can work with you providing bespoke portfolios according to client needs.
Disclaimer
All stock recommendations and comments are the opinion of writer.
Investors should be cautious about all stock recommendations and should consider the source of any advice on stock selection. Various factors, including personal ownership, may influence or factor into a stock analysis or opinion.
All investors are advised to conduct their own independent research into individual stocks before making a purchase decision. In addition, investors are advised that past stock performance is not indicative of future price action.
You should be aware of the risks involved in stock investing, and you use the material contained herein at your own risk
The author may have historic or prospective positions in securities mentioned in the report.
The material on this website are provided for information purpose only.
Please contact Ken, (kenbaksh@btopenworld.com) for further information