Man Group PLC's Strategic Stake in Barratt Developments
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Man Group PLC: Public Opening Position Disclosure
FORM 8.3
PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
Rule 8.3 of the Takeover Code
Key Information
1. Disclosure Highlights
(a) Full Name of Discloser: Man Group PLC
(c) Name of Offeree: Barratt Developments plc
(e) Date Position Held/Dealing Undertaken: Recent disclosure date is noted.
(f) Other Parties to the Offer: Disclosure indicates interests in Redrow plc as the offeree party.
Positions of the Discloser
2. Positions held by Man Group
Man Group holds substantial interests in the relevant securities of Barratt Developments plc. The report indicates a total interest of:
Interests and Short Positions
Following the latest dealing, the reported relevant securities include:
Class of Relevant Security: 10p ordinary shares
Total Interests: 17,534,982 shares
Percentage of Issued Shares: 1.80%
In addition to these interests, Man Group reports cash-settled derivatives revealing a strategic management of its shareholding.
Dealings by Man Group
3. Purchases and Sales Overview
Recent Transactions
Man Group has engaged in notable transactions involving the purchase of 152,215 shares at a price of £5.480 per unit, reflecting their ongoing investment strategy.
Additional purchases and increasing positions showcase a commitment to consolidating shareholdings in Barratt Developments, with continued transactions reinforcing their position.
Other Relevant Information
4. Indemnities and Agreements
As per the disclosure rules, various agreements concerning the interests and securities have been communicated and are monitored under the regulatory framework.
Agreements or Understandings: No known indemnity or inducement arrangements affecting the disclosure have been reported.
Contact Information:
Name: Mackenzie Terry
Telephone: +442071441555
Frequently Asked Questions
What is the significance of Man Group's disclosure?
This disclosure highlights Man Group's substantial investment in Barratt Developments, reflecting its confidence in the company's growth prospects.
What does FORM 8.3 indicate?
FORM 8.3 serves to publicly disclose the positions of parties who hold interests in the relevant securities of a company, ensuring transparency in the market.
Why is this disclosure relevant for investors?
This information is crucial for investors as it provides insight into Man Group's strategic intentions and financial commitments in the housing and construction sector.
How does this affect Barratt Developments?
With Man Group's investments, Barratt Developments gains additional credibility, which may positively influence investor perceptions and market confidence.
What should investors watch for next?
Investors should monitor any future disclosures from Man Group and how these might affect Barratt Developments’ stock performance and overall market positioning.
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