RNS Number : 9627Q
Tesco PLC
21 October 2013
 



On 18 October 2013 Tesco PLC received the following notification from Berkshire Hathaway Inc. of its interests in the Company as of 16 October 2013.

 

 

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi
 



1. Identity of the issuer or the underlying issuer
of existing shares to which voting rights are
attached: ii

Tesco Plc

 

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights


An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached


An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

X

An event changing the breakdown of voting rights


Other (please specify):



3. Full name of person(s) subject to the
notification obligation: iii

Berkshire Hathaway Inc.    

4. Full name of shareholder(s)
 (if different from 3.):iv

The following indirect wholly-owned subsidiaries of Berkshire Hathaway Inc. hold voting rights: Government Employees Insurance Company; General Reinsurance Corporation; General Reinsurance AG; National Fire & Marine Insurance Company; National Indemnity Insurance Company; U.S. Underwriters Insurance Company; and Medical Protective Company.

5. Date of the transaction and date on
which the threshold is crossed or
reached: v

16 October 2013

6. Date on which issuer notified:

18 October 2013

7. Threshold(s) that is/are crossed or
reached: vi, vii

4%


 

8. Notified details:

A: Voting rights attached to shares viii, ix

Class/type of
shares


if possible using
the ISIN CODE

Situation previous
to the triggering
transaction

Resulting situation after the triggering transaction

Number
of
Shares

Number
of
Voting
Rights

Number
of shares

Number of voting
rights

% of  voting rights x

Direct

Direct xi

Indirect xii

Direct

Indirect

 

 

GB0008847096

257,443,328

257,443,328

257,443,328

257,443,328

0

3.18

0



B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial
instrument

Expiration
date xiii

Exercise/
Conversion Period xiv

Number of voting
rights that may be
acquired if the
instrument is
exercised/ converted.

% of voting
rights







C: Financial Instruments with similar economic effect to Qualifying Financial Instruments xv, xvi

Resulting situation after the triggering transaction

Type of financial
instrument

Exercise price

Expiration date xvii

Exercise/
Conversion period xviii

Number of voting rights instrument refers to

 

% of voting rights xix, xx

 

 

Cash Settled Equity Swap

$4.5732 (US Dollars) per share

16 January 2015

N/A

64,034,283

Nominal

Delta

0.80

0.80


Total (A+B+C)

Number of voting rights

Percentage of voting rights

321,477,611

3.98


 

9. Chain of controlled undertakings through which the voting rights and/or the
financial instruments are effectively held, if applicable: xxi

The following indirect wholly-owned subsidiaries own shares with voting rights:

Government Employees Insurance Company (90,000,000)

General Reinsurance Corporation (72,862,000)

General Reinsurance AG (30,136,328)

National Fire & Marine Insurance Company (30,606,000)

National Indemnity Company (22,883,000)

U.S. Underwriters Insurance Company (5,807,000)

Medical Protective Company (5,149,000)

 

In addition National Indemnity Company holds financial instruments with similar economic effect to qualifying financial instruments related to 64,034,283 voting rights


Proxy Voting:

10. Name of the proxy holder:


11. Number of voting rights proxy holder will cease
to hold:


12. Date on which proxy holder will cease to hold
voting rights:




13. Additional information:



14. Contact name:

 Marc D. Hamburg

15. Contact telephone number:

1-402-346-1400 (United States of America)

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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