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Prairie Mining #PDZ – Lansdowne Partners Intl increases holding from 5.4% to 6.06%
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 Ltd Sedol BYSQ580 |
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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 |
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An acquisition or disposal of financial instruments |
X |
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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 |
1Lansdowne Partners International Limited 2Lansdowne Partners Limited 3Lansdowne Partners (UK) LLP 4Lansdowne European Equity Master Fund Limited
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City and country of registered office (if applicable) |
London, United Kingdom |
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4. Full name of shareholder(s) (if different from 3.)v |
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Name |
n/a |
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City and country of registered office (if applicable) |
n/a |
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5. Date on which the threshold was crossed or reachedvi: |
06/04/2018 |
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6. Date on which issuer notified (DD/MM/YYYY): |
10/04/2018 |
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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 |
6.06% |
6.06% |
167,498,969 |
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Position of previous notification (if applicable) |
5.40% |
5.40% |
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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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SUBTOTAL 8. A |
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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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CFD |
n/a |
n/a |
Cash |
10,154,610 |
6.06% |
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SUBTOTAL 8.B.2 |
10,154,610 |
6.06% |
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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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Lansdowne Partners International Limited |
6.06% |
6.06% |
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Lansdowne Partners Limited |
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Lansdowne Partners (UK) LLP |
6.06% |
6.06% |
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Lansdowne European Equity Master Fund Limited |
5.17% |
5.17% |
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10. In case of proxy voting, please identify: |
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Name of the proxy holder |
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The number and % of voting rights held |
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The date until which the voting rights will be held |
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11. Additional informationxvi |
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Place of completion |
London |
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Date of completion |
10 April 2018 |
CityAM – Secretive Mayfair hedgie Lansdowne snaps up big stake in a Polish miner
by Oliver Gill, CityAM
One of London’s oldest and most secretive hedge funds has snapped up a big stake in a Polish coal miner.
Lansdowne Partners became a substantial shareholder in London-listed Prairie Mining on Friday, according to a filing released today, and now owns more than five per cent of the firm.
Also listed in Australia, Prairie operates the Karski Mine in the Lublin Coal Basin and the Debiensko Hard Coking Coal Project in Upper Silesia.
With around $20bn of assets under management, Mayfair-based Lansdowne Partners was last year one of the sector’s top performers. The firm’s investment portfolio and specific performance is generally tightly-guarded. It was, however, revealed last February Lansdowne had taken a big hit backing telecoms duo of BT and Inmarsat.
More recently, Lansdowne has taken on one Britain’s best-loved retail fund managers. The hedge fund has one of the biggest short positions in troubled doorstep lender Provident Financial. The firm put its £30m bet against the lender in April 2016, pitting itself against Woodford and Invesco Perpetual, which together own around 50 per cent of the Bradford-based firm.
Prairie Mining #PDZ, meanwhile, announced narrowed losses earlier this month from $5.34m to $5.28m. In February it announced preliminary discussions with Indian steel giant JSW regarding a co-operation agreement.
Prairie Mining #PDZ – Lansdowne Partners become a substantial shareholder
Becoming a substantial holder
TR-1: Standard form for notification of major holdings
|
NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible)i |
||||||
|
1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attachedii: |
Prairie Mining Ltd Sedol BYSQ580 |
|||||
|
1b. Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate) |
||||||
|
Non-UK issuer |
X |
|||||
|
2. Reason for the notification (please mark the appropriate box or boxes with an “X”) |
||||||
|
An acquisition or disposal of voting rights |
X |
|||||
|
An acquisition or disposal of financial instruments |
||||||
|
An event changing the breakdown of voting rights |
||||||
|
Other (please specify)iii: |
||||||
|
3. Details of person subject to the notification obligationiv |
||||||
|
Name |
1Lansdowne Partners International Limited 2Lansdowne Partners Limited 3Lansdowne Partners (UK) LLP 4Lansdowne Developed Markets Master Fund Limited
|
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City and country of registered office (if applicable) |
London, United Kingdom |
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4. Full name of shareholder(s) (if different from 3.)v |
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|
Name |
n/a |
|||||
|
City and country of registered office (if applicable) |
n/a |
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5. Date on which the threshold was crossed or reachedvi: |
16/03/2018 |
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6. Date on which issuer notified (DD/MM/YYYY): |
20/03/2018 |
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|
7. Total positions of person(s) subject to the notification obligation |
||||||
|
% 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 |
|||
|
Resulting situation on the date on which threshold was crossed or reached |
5.40% |
5.40% |
167,498,969 |
|||
|
Position of previous notification (if applicable) |
n/a |
n/a |
||||
|
8. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii
|
|||||||||
|
A: Voting rights attached to shares
|
|||||||||
|
Class/type of
shares ISIN code (if possible)
|
Number of voting rightsix
|
% of voting rights
|
|||||||
|
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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SUBTOTAL 8. A
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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
datex |
Exercise/
Conversion Periodxi |
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))
|
|||||||||
|
Type of financial instrument
|
Expiration
datex |
Exercise/
Conversion Period xi |
Physical or cash
settlementxii
|
Number of voting rights
|
% of voting rights
|
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|
CFD
|
n/a
|
n/a
|
Cash
|
9,039,610
|
5.40%
|
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SUBTOTAL 8.B.2
|
9,039,610
|
5.40%
|
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9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an “X”) |
||||
|
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 |
||||
|
Full chain of controlled undertakings through which the voting rights and/or the |
X |
|||
|
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 |
|
|
Lansdowne Partners International Limited |
5.40% |
5.40% |
||
|
Lansdowne Partners Limited |
||||
|
Lansdowne Partners (UK) LLP |
5.40% |
5.40% |
||
|
10. In case of proxy voting, please identify: |
||||
|
Name of the proxy holder |
||||
|
The number and % of voting rights held |
||||
|
The date until which the voting rights will be held |
||||
|
11. Additional informationxvi |
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Place of completion |
London |
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Date of completion |
20 March 2018 |