CQS Cayman Ltd Prtnr Form 8 (OPD) CQS Rig Finance Fund/CQS Cayman

  CQS Cayman Ltd Prtnr - Form 8 (OPD) CQS Rig Finance Fund/CQS Cayman

RNS Number : 1466P
CQS Cayman Limited Partner
19 October 2012




                                                                  FORM 8 (OPD)

                                      

          PUBLIC OPENING POSITION DISCLOSURE BY A PARTY TO AN OFFER

             Rules 8.1 and 8.2 of the Takeover Code (the "Code")

                                      

1. KEY INFORMATION



(a) Identity of the party to the offer       CQS CAYMAN LIMITED PARTNERSHIP ON
making the disclosure:                       BEHALF OF CQS DIRECTIONAL
                                             OPPORTUNITIES MASTER FUND LIMITED
(b) Owner or controller of interests and     N/A
short positions disclosed, if different from
1(a):

 The naming of nominee or vehicle
companies is insufficient
(c) Name of offeror/offeree in relation to   CQS RIG FINANCE FUND LIMITED
whose relevant securities this form relates:

 Use a separate form for each party to
the offer
(d) Is the party to the offer making the     OFFEROR
disclosure the offeror or the offeree?
(e) Date position held:                      19 OCTOBER 2012
(f) Has the party previously disclosed, or  NO
is it today disclosing, under the Code in
respect of any other party to this offer?



2. POSITIONS OF THE PARTY TO THE OFFER MAKING THE DISCLOSURE



(a) Interests and short positions in the relevant securities of the
offeror or offeree to which the disclosure relates



Class of relevant security:


                                                Interests     Short positions

                                               Number     %    Number     %
(1) Relevant securities owned and/or          37,023,627 38.01    NIL     NIL
controlled:
(2) Derivatives (other than options):            NIL      NIL     NIL     NIL
(3) Options and agreements to purchase/sell:     NIL      NIL     NIL     NIL
                                             37,023,627 38.01    NIL     NIL

 TOTAL:



All interests and all short positions should be disclosed.



Details of any open derivative or option positions, or agreements to  purchase 
or sell relevant securities,  should be given on  a Supplemental Form 8  (Open 
Positions).



Details of  any  securities  borrowing  and  lending  positions  or  financial 
collateral arrangements should be disclosed on a Supplemental Form 8 (SBL).



(b) Rights to subscribe for new securities



Class of relevant security in relation to which subscription right exists: NIL
Details, including nature of the rights concerned and relevant             NIL
percentages:



If there are positions  or rights to  subscribe to disclose  in more than  one 
class of relevant  securities of the  offeror or offeree  named in 1(c),  copy 
table 2(a)  or (b)  (as appropriate)  for each  additional class  of  relevant 
security.



(c) Irrevocable commitments and letters of intent



Details of any irrevocable commitments or letters of intent procured by the
party to the offer making the disclosure or any person acting in concert with
it (see Note 3 on Rule 2.11 of the Code):


NONE





3. POSITIONS OF PERSONS ACTING IN CONCERT WITH THE PARTY TO THE OFFER
MAKING THE DISCLOSURE



Details of any interests, short positions and rights to subscribe of any
person acting in concert with the party to the offer making the disclosure:


                  Number of ordinary shares of no par  Percentage of currently
                  value each                           issued share capital
RBC CEES TRUSTEES 9,850,118                            10.11
LIMITED
JASON PARKER (1)  865,425                              0.89
MONISH SAHNI (2)  100,000                              0.10
MARTIN PABARI (1) 9,482                                0.01
TOTAL             10,825,025                           11.11

Notes:

(1) The registered holder of these shares is Hargreaves Lansdown (Nominees)
Limited.

(2) These CQS Rig Finance Fund Limited Shares are held jointly with Kavita
Bhaman, Monish Sahni's wife. The registered holder of these shares is Collins
Stewart (CI) Limited.





If there are positions  or rights to  subscribe to disclose  in more than  one 
class of relevant  securities of the  offeror or offeree  named in 1(c),  copy 
table 3 for each additional class of relevant security.



Details of any open derivative or option positions, or agreements to  purchase 
or sell relevant securities,  should be given on  a Supplemental Form 8  (Open 
Positions).



Details of  any  securities  borrowing  and  lending  positions  or  financial 
collateral arrangements should be disclosed on a Supplemental Form 8 (SBL).



4. OTHER INFORMATION



(a) Indemnity and other dealing arrangements



Details of any indemnity or option arrangement, or any agreement or
understanding, formal or informal, relating to relevant securities which may
be an inducement to deal or refrain from dealing entered into by the party to
the offer making the disclosure or any person acting in concert with it:

If there are no such agreements, arrangements or understandings, state "none"


NONE





(b) Agreements, arrangements or understandings relating to options or
derivatives



Details of any agreement, arrangement or understanding, formal or informal,
between the party to the offer making the disclosure, or any person acting in
concert with it, and any other person relating to:

(i) the voting rights of any relevant securities under any option; or

(ii) the voting rights or future acquisition or disposal of any relevant
securities to which any derivative is referenced:

If there are no such agreements, arrangements or understandings, state "none"


NONE





(c) Attachments



Are any Supplemental Forms attached?



Supplemental Form 8 (Open Positions) NO
Supplemental Form 8 (SBL)            NO





        Date of disclosure: 19 OCTOBER 2012
        Contact name:       PATRICK TREW
        Telephone number:   020 7201 6900



Public disclosures under  Rule 8  of the  Code must  be made  to a  Regulatory 
Information Service  and  must  also  be emailed  to  the  Takeover  Panel  at 
monitoring@disclosure.org.uk.  The  Panel's   Market  Surveillance  Unit   is 
available for  consultation  in  relation to  the  Code's  dealing  disclosure 
requirements on +44 (0)20 7638 0129.



The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.



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

END


FEELLFSEILLALIF -0- Oct/19/2012 15:44 GMT
 
Press spacebar to pause and continue. Press esc to stop.