Rule 8 - Holmes Place Plc
08 Juillet 2003 - 12:26PM
UK Regulatory
RNS Number:2802N
Cantor Fitzgerald Europe
08 July 2003
FORM 8.1/8.3
Lodge with a RIS or Newstrack and the Takeover Panel. Use separate form for each
class of securities in which dealings have been made.
Date of disclosure 08/07/03...........
DISCLOSURE UNDER RULES 8.1(a), 8.1(b)(i) AND 8.3
OF THE CITY CODE ON TAKEOVERS AND MERGERS
Date of dealing 07/07/03..................................
Dealing in Holmes Place Plc................(name of company)
(1) Class of securities (eg ordinary shares) ordinary shares...............
......................
(2) Amount bought Amount sold Price per unit
In addition, Cantor Fitzgerald Europe (and affiliates) have undertaken certain
CFD and Spreadbet transactions(see below).
(3) Resultant total of the same class owned or controlled
(and percentage of class) 2,567,732 shares* ( 2.54%)
(4) Party making disclosure Cantor Fitzgerald Europe......
(5) EITHER (a) Name of purchaser/vendor (Note 1) Cantor Fitzgerald
Europe........................
OR (b) If dealing for discretionary client(s), name of
fund management organisation
(6) Reason for disclosure (Note 2)
(a) associate of (i) offeror (Note 3) NO
(ii) offeree company NO
Specify which category or categories of associate (1-8 overleaf) .......
..........................................
If category (8), explain .............................................
....................................................
......................................................................
.......................................................
(b) Rule 8.3 (ie disclosure because of ownership or control of 1% or
more of the class of relevant securities dealt in) YES
Signed, for and on behalf of the party named in (4) above .....................
........................................
(Also print name of signatory) Simon Rogers...................
Telephone and extension number 020 7894 7854.....................
.........
______________________________________
*In addition, Cantor Fitzgerald Europe(and affiliates) are party to certain CFDs
and Spreadbets (see below)
Note 1. Specify owner, not nominee or vehicle company. If relevant, also
identify controller of owner, eg where an owner normally acts on instructions of
a controller.
Note 2. Disclosure might be made for more than one reason; if so, state all
reasons.
Note 3. Specify which offeror if there is more than one.
Note 4. When an arrangement exists with any offeror, with the offeree company or
with an associate of any offeror or of the offeree company in relation to
relevant securities, details of such arrangement must be disclosed, as required
by Note 6 on Rule 8.
Note 5. It may be necessary, particularly when disclosing derivative
transactions, to append a sheet to this disclosure form so that all relevant
information can be given.
Note 6. In the case of an average price bargain, each underlying trade should be
disclosed.
For full details of disclosure requirements, see Rule 8 of the Code. If in
doubt, contact the Panel on Takeovers and Mergers, Monitoring Section, Tel. No:
020 7638 0129. E-mail:monitoring@disclosure.org.uk
Date of Disclosure: July 8, 2003
Form 8 Enclosure
Cantor Fitzgerald Europe is the beneficial owner of 2,567,732 Holmes Place PLC
ordinary shares. 1,175,000 of these shares are held to hedge Contract for
Differences ("CFD") positions for clients and 1,342,000 of these shares are held
to hedge Spreadbet positions between Cantor Index Limited and other clients.
A Long CFD is a product where the client to whom the product is sold is taking a
long economic interest in the underlying share price such that the client can
realise a gain if the price of the underlying securities rises above the
reference price.
A Spread Bet is a product where the client to whom the product is sold can
realise a gain or a loss depending on whether the price of the underlying
security increases above or falls below the reference price. The client's
Spread bet position is described as his "stake". A "stake" is expressed in
pounds (sterling) per "point" and a "point" is the price in pence of the
underlying shares. A client with a "stake" of #100 per point will make a gain
of #100 for every penny increase in the underlying shares and he/she has an
exposure equivalent to 10,000 shares.
A purchaser of a Spread Bet or a CFD contract will realise a gain if the price
of the underlying security goes up. A seller of a Spread Bet or a CFD contract
will realise a gain if the price of the underlying security goes down.
There are no written or oral agreements between Cantor Fitzgerald Europe and any
clients concerning the control of voting rights in relation to the underlying
shares used to hedge the CFDs and Spreadbets.
The CFD contracts are open-ended and there is no rollover into new contracts
Contracts for Differences Date of Disclosure: 08-Jul-03
Holmes Place PLC Cantor Reference
Fitzgerald Underlying Number Price
Product Name Date Executed Buy/Sell Of Shares (pence)
Holmes Place Plc, Long CFD June 6, 2003 Sell 300,000 24
Holmes Place Plc, Long CFD June 9, 2003 Sell 100,000 24
Holmes Place Plc, Long CFD June 18, 2003 Sell 150,000 24.25
Holmes Place Plc, Long CFD June 19, 2003 Sell 100,000 24.25
Holmes Place Plc, Long CFD June 26, 2003 Sell 250,000 24.5
Holmes Place Plc, Long CFD July 4, 2003 Sell 200,000 24.75
Holmes Place Plc, Long CFD July 7, 2003 Sell 75,000 25
1,175,000
CFDs Closed out
07-Jul-03 Open Date Open Price Close Price
Holmes Place Plc, CFD June 2, 2003 Sell 75,000 23.75 25
Spread Bets Cantor Reference
Holmes Place PLC Fitzgerald Stake - # per Point Price
Expiry Date Date Executed Buy/Sell 1 Point = 1 pence (pence)
No Expiry February 25, 2003 Sell 1,000 53.76
No Expiry February 25, 2003 Sell 1,000 44.72
16-Sep-03 March 18, 2003 Sell 1,000 25.08
16-Sep-03 March 25, 2003 Sell 350 40.93
16-Sep-03 April 2, 2003 Sell 550 42.94
16-Sep-03 May 22, 2003 Sell 1,000 25.93
16-Sep-03 June 16, 2003 Sell 2,000 24.42
16-Sep-03 June 17, 2003 Sell 20 24.56
16-Sep-03 June 17, 2003 Sell 2,000 24.56
16-Sep-03 June 17, 2003 Sell 4,000 24.56
16-Sep-03 June 17, 2003 Sell 500 24.56
13,420
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