Rathbones Group Plc's Disclosure on Rightmove Plc Securities
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Understanding Rathbones Group Plc's Disclosure on Rightmove Plc
In accordance with the regulations under the United Kingdom's Takeover Code (the 'Code'), important disclosures are required regarding rights and interests in relevant securities. This is particularly relevant when a person holds significant stakes—specifically over 1%—in a firm undergoing an offer or serious negotiations relating to offers. In this case, Rathbones Group Plc is making a public disclosure concerning its interest in Rightmove Plc.
Key Information Disclosure
Rathbones Group Plc has revealed its stakes and dealings associated with Rightmove Plc through a formal public opening position disclosure—or in simpler terms, a financial statement regarding their shares and investments.
Identity of the Discloser
The full name of the disclosing party is Rathbones Group Plc, a reputable entity within the financial services sector known for their robust portfolio management.
About the Offeror
The disclosure specifically relates to Rightmove Plc, a leading player in the online property market. The transparency involved in such disclosures helps to ensure that shareholders are aware of the significant stakes that large investors like Rathbones hold, contributing to informed decision-making in the market.
Positions Held and Dealing Activity
As shown in the disclosed paperwork, Rathbones Group Plc holds a considerable position in Rightmove Plc with a total of approximately 13,135,251 relevant securities, equating to around 1.66% of the company's shares. This stake indicates the group's confidence in the property market's recovery and potential growth, highlighting its strategic investment approach.
Details of Holdings
With regards to the composition of these holdings, it’s important to note that they fall under the category of ordinary shares. This type of security typically conveys ownership, allowing Rathbones them to benefit from any value appreciation of Rightmove Plc’s stocks over time.
Recent Trading Activity
Rathbones has engaged in several trading activities, purchasing and selling ordinary shares of Rightmove Plc recently. Notably, shares were sold at varied prices per unit, reflecting active management of their portfolio in context to market conditions. This activity includes the sale of 1,855 shares at approximately 662.65 pence per share and a larger sale of 6,000 shares at 665.12 pence.
Other Relevant Information
No other parties were disclosed in their statements, emphasizing their focused interest in Rightmove Plc only, making this disclosure straightforward and clear.
Contact Information
For any inquiries or further clarifications regarding the disclosure, Chinwe Enyi from the Compliance Department at Rathbones Group Plc can be contacted at 0151 243 7053.
Frequently Asked Questions
What is the significance of Rathbones’s disclosure about Rightmove Plc?
This disclosure is important for maintaining transparency in the financial markets, allowing stakeholders to be informed about substantial interests in companies like Rightmove Plc.
How does this affect the perception of Rightmove Plc?
Having a significant investor like Rathbones Group can enhance the market's perception, suggesting confidence in Rightmove Plc’s stability and outlook.
What type of securities does Rathbones hold in Rightmove Plc?
Rathbones holds ordinary shares in Rightmove Plc, which typically represent ownership stakes in the company.
Who is the contact person for further information?
Chinwe Enyi from the Compliance Department is the contact for questions and can be reached at 0151 243 7053.
Why is this disclosure required?
Such disclosures are mandated by regulatory bodies to ensure all investors have access to vital information, supporting fairness in trading and decision-making.
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