Notifications of Major Interests in Shares
             



+--------------------------------------------------+
| TR-1: Notifications of Major Interests in Shares |
+--------------------------------------------------+



+-------------------------------------------------------------------+
| 1. Identity of the issuer or the underlying issuer | PUMA VCT PLC |
| of existing shares to which voting rights are      |              |
| attached:                                          |              |
+-------------------------------------------------------------------+



+-------------------------------------------------------------------+
|                                                                   |
| 2. Reason for notification (yes/no)                               |
|-------------------------------------------------------------------|
|                                                               |   |
| An acquisition or disposal of voting rights                   |   |
|---------------------------------------------------------------+---|
|                                                               |   |
| An acquisition or disposal of financial instruments which may |   |
| result in the acquisition of shares already issued to which   |   |
| voting rights are attached                                    |   |
|---------------------------------------------------------------+---|
|                                                               |   |
| An event changing the breakdown of voting rights              |   |
|---------------------------------------------------------------+---|
|                                                               | X |
| Other (please specify):______________ Transfer into Nominees  |   |
+-------------------------------------------------------------------+



+-------------------------------------------------------------------+
| 3. Full name of person(s) subject to      | Rensburg Sheppards    |
| notification obligation:                  | Investment Management |
|                                           | Limited               |
|-------------------------------------------+-----------------------|
|                                           |                       |
| 4. Full name of shareholder(s) (if        | N/A                   |
| different from 3):                        |                       |
|-------------------------------------------+-----------------------|
|                                           |                       |
| 5. Date of transaction (and date on which | 8 December 2008       |
| the threshold is crossed or reached if    |                       |
| different):                               |                       |
|-------------------------------------------+-----------------------|
|                                           |                       |
| 6. Date on which issuer notified:         | 9 December 2008       |
|-------------------------------------------+-----------------------|
|                                           |                       |
| 7. Threshold(s) that is/are crossed or    | 6%                    |
| reached:                                  |                       |
+-------------------------------------------------------------------+




+-----------------------------------------------------------------------------------+
|8: Notified Details                                     Nominee Holdings           |
|-----------------------------------------------------------------------------------|
|A: Voting rights attached to shares                                                |
|                                                                                   |
|-----------------------------------------------------------------------------------|
|Class/type of shares  |Situation previous |Resulting situation after the triggering|
|If possible use ISIN  |to the triggering  |transaction                             |
|code                  |transaction        |                                        |
|                      |-------------------+----------------------------------------|
|                      |Number of|Number of|Number |Number of voting|Percentage of  |
|                      |shares   |voting   |of     |rights          |voting rights  |
|                      |         |rights   |shares |----------------+---------------|
|                      |         |         |       |       |        |      |        |
|                      |         |         |       |Direct |Indirect|Direct|Indirect|
|----------------------+---------+---------+-------+-------+--------+------+--------|
|Ordinary Shares       |         |         |       |       |        |      |        |
|GB00B0634L13          |570,000  |570,000  |       |       |770,000 |      |6.37%   |
|                      |         |         |       |       |        |      |        |
+-----------------------------------------------------------------------------------+





+---------------------------------------------------------------------------+
|B: Financial Instruments                                                   |
|                                                                           |
|---------------------------------------------------------------------------|
|Resulting situation after the triggering transaction                       |
|                                                                           |
|---------------------------------------------------------------------------|
|Type of   |Expiration|Exercise/  |No. of voting rights that may |Percentage|
|financial |date      |conversion |be acquired (if the instrument|of voting |
|instrument|          |period/date|exercised/converted)          |rights    |
|----------+----------+-----------+------------------------------+----------|
|          |          |           |                              |          |
|          |          |           |                              |          |
+---------------------------------------------------------------------------+




+-------------------------------------------------------+
| Total (A+B)                                           |
|                                                       |
|-------------------------------------------------------|
| Number of voting rights | Percentage of voting rights |
|-------------------------+-----------------------------|
| 770,000                 | 6.37%                       |
+-------------------------------------------------------+





+-------------------------------------------------------------------+
| 9. Chain of controlled undertakings through which the voting      |
| rights and /or the financial instruments are effectively held, if |
| applicable:                                                       |
|-------------------------------------------------------------------|
| Client holdings registered in the name of Nominee companies 100%  |
| owned by Rensberg Sheppards Investment Management Limited         |
+-------------------------------------------------------------------+



+-------------------------------------------------------------------+
| Proxy Voting:                                                     |
|                                                                   |
|-------------------------------------------------------------------|
| 10. Name of proxy holder:                                   | N/A |
|                                                             |     |
|-------------------------------------------------------------+-----|
| 11. Number of voting rights proxy holder will cease to      | N/A |
| hold:                                                       |     |
|                                                             |     |
|-------------------------------------------------------------+-----|
| 12. Date on which proxy holder will cease to hold voting    | N/A |
| rights:                                                     |     |
|                                                             |     |
+-------------------------------------------------------------------+



+-----------------------------------+
| 13. Additional information: | N/A |
|                             |     |
|-----------------------------+-----|
| 14 Contact name:            | N/A |
|                             |     |
|-----------------------------+-----|
| 15. Contact telephone name: | N/A |
|                             |     |
+-----------------------------------+

For notes on how to complete form TR-1 please see the FSA website.
Note: Annex should only be submitted to the FSA not the issuer


+--------------------------------------------------+
| Annex: Notification of major interests in shares |
+--------------------------------------------------+




+-------------------------------------------------------------------+
| A: Identity of the persons or legal entity subject to the         |
| notification obligation                                           |
|-------------------------------------------------------------------|
| Full name                                 | Rensburg Sheppards    |
| (including legal form of legal entities)  | Investment Management |
|                                           | Limited               |
|-------------------------------------------+-----------------------|
| Contact address                           | Quayside House        |
| (registered office for legal entities)    | Canal Wharf           |
|                                           | Leeds LS11 5PU        |
|-------------------------------------------+-----------------------|
| Phone number & email                      | 0113 236 4171         |
|                                           |                       |
|-------------------------------------------+-----------------------|
| Other useful information                  | Mike Rigby            |
| (at least legal representative for legal  | (Head of Compliance)  |
| persons)                                  |                       |
|                                           |                       |
+-------------------------------------------------------------------+



+-------------------------------------------------------------------+
| B: Identity of the notifier, if applicable                        |
|-------------------------------------------------------------------|
| Full name                                     | Philip Martin     |
|                                               | Beardwell         |
|-----------------------------------------------+-------------------|
| Contact address                               | 2 Gresham Street  |
|                                               | London            |
|                                               | EC2V 7QN          |
|-----------------------------------------------+-------------------|
| Phone number & email                          | 020 7597 1356     |
|                                               |                   |
|-----------------------------------------------+-------------------|
| Other useful information                      | Senior Compliance |
|                                               | Manager           |
| (e.g. functional relationship with the person |                   |
| or legal entity subject to the notification   |                   |
| obligation)                                   |                   |
+-------------------------------------------------------------------+



+-------------------------------------------------------------------+
| C: Additional information                                         |
|-------------------------------------------------------------------|
| This disclosure is made by Rensburg Sheppards Investment          |
| Management Limited based on Nominee holdings in accordance with   |
| DTR 5.2.1(F)                                                      |
+-------------------------------------------------------------------+

---END OF MESSAGE---


This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement.



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