RNS Number : 0354L

Paddy Power Betfair plc

13 July 2017

Standard Form TR-1

Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the Central Bank of Ireland)i
1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attachedii: Paddy Power Betfair Plc
2. Reason for the notification (please tick the appropriate box or boxes): [X] An acquisition or disposal of voting rights [ ] 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: Marathon Asset Management LLP		City and country of registered office (if applicable): London, UK
4. Full name of shareholder(s) (if different from 3.)v: See attached breakdown
5. Date on which the threshold was crossed or reachedvi: 30 June 2017
6. Date on which issuer notified: 13 July 2017
7. Threshold(s) that is/are crossed or reached: 3%
8. Total positions of person(s) subject to the notification obligation:
	% of voting rights attached to shares (total of 9.A)	% of voting rights through financial instruments (total of 9.B.1 + 9.B.2)	Total of both in % (9.A + 9.B)	Total number of voting rights of issuervii
Resulting situation on the date on which threshold was crossed or reached	2.99	0	2.99	2,518,109
Position of previous notification (if applicable)	4.33	N/A	4.33

9. 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			Indirect		Direct		Indirect
Ordinary shares (IE00BWT6H894)				2,518,109				2.99
SUBTOTAL A				2,518,109				2.99
B 1: Financial Instruments according to Regulation 17(1)(a) of the Regulations
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
None
			SUBTOTAL B.1
B 2: Financial Instruments with similar economic effect according to Regulation 17(1)(b) of the Regulations
Type of financial instrument	Expiration datex		Exercise/ Conversion Period xi		Physical or cash settlementxii		Number of voting rights		% of voting rights
None
					SUBTOTAL B.2

10. Information in relation to the person subject to the notification obligation (please tick the applicable box):

[ ] 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) issuer.^xiii

[ X ] Full chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held starting with the ultimate controlling natural person or legal entity^xiv:

Name^xv

% 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

William Arah

Jeremy Hosking

Neil Ostrer

Marathon Asset Management LLP

2.99

0

2.99

11. In case of proxy voting: [name of the proxy holder] will cease to hold [% and number] voting rights as of [date]

12. Additional information^xvi:

Breakdown of Holdings:

Custodian	Nominal
Bank of New York Mellon	683,390
BNP Paribas Securities Services	26,990
Brown Brothers Harriman	27,628
JP Morgan Chase	170,518
Northern Trust	1,684,206
Royal Bank of Canada	2,946
State Street Bank & Trust Company, Boston	970,378
Total	3,566,056

Note: Marathon Asset Management LLP controls a total of 3,566,056 shares on behalf of underlying investors but only has authority to vote in connection with 2,518,109 shares.

This information is provided by RNS

The company news service from the London Stock Exchange

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