TIDMTT.

RNS Number : 2618P

TUI Travel PLC

22 October 2012

 
 
 
 
 TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES(i) 
------------------------------------------------------------------------------------------------- 
 
 1. Identity of the issuer or the underlying             TUI Travel PLC 
  issuer 
  of existing shares to which voting rights 
  are 
  attached: (ii) 
------------------------------------------------------  ----------------------------------------- 
 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 
---------------------------------------------------------------------------------------  -------- 
 An event changing the breakdown of voting rights 
---------------------------------------------------------------------------------------  -------- 
 Other (please       Change in delta relating to instruments with similar                   YES 
  specify):           economic effect to qualifying financial instruments 
                      (see note 1, section 13) 
------------------  -------------------------------------------------------------------  -------- 
 3. Full name of person(s) subject            TUI AG, a company incorporated in Germany 
  to the                                       whose registered office is at Karl-Wiechert- 
  notification obligation: (iii)               Allee 4, 30625 Hannover, Germany 
-------------------------------------------  ---------------------------------------------------- 
 4. Full name of shareholder(s)               As above 
  (if different from 3.):(iv) 
-------------------------------------------  ---------------------------------------------------- 
 5. Date of the transaction and date          19 Oct 2012 
  on 
  which the threshold is crossed 
  or 
  reached: (v) 
-------------------------------------------  ---------------------------------------------------- 
 6. Date on which issuer notified:            22 Oct 2012 
-------------------------------------------  ---------------------------------------------------- 
 7. Threshold(s) that is/are crossed          Aggregate interest (boxes 8A-8C) from 
  or                                           56% to 57% 
  reached: (vi, vii) 
-------------------------------------------  ---------------------------------------------------- 
 
 
 
 8. Notified details: 
------------------------------------------------------------------------------------------------------------------------ 
 A: Voting rights attached to shares (viii, ix) 
------------------------------------------------------------------------------------------------------------------------ 
 Class/type      Situation previous              Resulting situation after the triggering 
 of               to the triggering               transaction 
 shares           transaction 
 
 if possible 
 using 
 the ISIN CODE 
--------------  ------------------------------  ------------------------------------------------------------------------ 
                 Number          Number          Number          Number of voting                % of voting rights 
                  of              of              of shares       rights                          (x) 
                  Shares          Voting 
                                  Rights 
--------------  --------------  --------------  --------------  ------------------------------  ------------------------ 
                                                 Direct          Direct            Indirect      Direct      Indirect 
                                                                  (xi)              (xii) 
--------------  -----  -------  ------  -----   --------------  ----------------  ------------  ----------  ------------ 
 
 
 GB00B1Z7RQ77    630,988,003      630,988,003      395,596,480     395,596,480     235,391,523     35.4%       21.1% 
--------------  --------------  --------------  --------------  ----------------  ------------  ----------  ------------  ------------------------------------------------------- 
 
 B: Qualifying Financial Instruments 
------------------------------------------------------------------------------------------------------------------------ 
 Resulting situation after the triggering transaction 
------------------------------------------------------------------------------------------------------------------------ 
 Type of financial      Expiration       Exercise/                        Number of voting             % of voting 
  instrument             date (xiii)      Conversion Period                rights that may              rights 
                                          (xiv)                            be 
                                                                           acquired if the 
                                                                           instrument is 
                                                                           exercised/converted. 
---------------------  ---------------  -------------------------------  ---------------------------  ------------------ 
                                         From 16 January                  148,424,474 (see 
                        9 March           2011 to 9 March                  note 2, section 
 Call Option             2013             2013                             13)                         13.3% 
---------------------  ---------------  -------------------------------  ---------------------------  ------------------ 
                                         28 July 2014, 
                                          subject to terms                86,967,049 (see 
 Contingent Forward     28 July           allowing for earlier             note 3, section 
  Purchase Agreement     2014             settlement                       13)                         7.8% 
---------------------  ---------------  -------------------------------  ---------------------------  ------------------ 
 
 C: Financial Instruments with similar economic effect to Qualifying Financial 
  Instruments (xv, xvi) 
------------------------------------------------------------------------------------------------------------------------ 
 Resulting situation after the triggering transaction 
------------------------------------------------------------------------------------------------------------------------ 
 Type of         Exercise        Expiration     Exercise/        Number of voting                % of voting rights 
 financial        price           date (xvii)    Conversion       rights instrument               (xix, xx) 
 instrument                                      period           refers to 
                                                 (xviii) 
--------------  --------------  -------------  ---------------  ------------------------------  ------------------------ 
 Convertible     GBP3.8234       27 April       From 7           12,031,176                      Nominal      Delta 
 bonds                            2017           June 2010        (calculated on a 
 acquired                                        subject          delta- adjusted 
 pursuant to                                     to certain       basis (see note 
 a Contingent                                    conditions       1, section 13)) 
 Forward 
 Purchase 
 Agreement 
--------------  --------------  -------------  ---------------  ------------------------------  -----------  ----------- 
                                                                                                              1.08% 
--------------  -----  -------  ------  -----   --------------  -------  -------  ------------  -----------  ----------- 
 
 Total (A+B+C) 
------------------------------------------------------------------------------------------------------------------------ 
 Number of voting rights                                         Percentage of voting rights 
--------------------------------------------------------------  -------------------------------------------------------- 
 643,019,179                                                     57.52% (please see note (4), section 
                                                                  13) 
--------------------------------------------------------------  -------------------------------------------------------- 
 
 
 
 9. Chain of controlled undertakings through which the voting rights and/or 
  the 
  financial instruments are effectively held, if applicable: (xxi) 
--------------------------------------------------------------------------------------- 
 
 
 Proxy Voting: 
--------------------------------------------------------------------------------------- 
 10. Name of the proxy holder:                         N/A 
----------------------------------------------------  --------------------------------- 
 11. Number of voting rights proxy holder will         N/A 
  cease 
  to hold: 
----------------------------------------------------  --------------------------------- 
 12. Date on which proxy holder will cease to          N/A 
  hold 
  voting rights: 
----------------------------------------------------  --------------------------------- 
 
                                          (1) TUI AG is required under the Disclosure 
  13. Additional information:              and Transparency Rules to disclose 
                                           its interest in the convertible bonds 
                                           of TUI Travel PLC on a delta-adjusted 
                                           basis (see 8(c) above). A change in 
                                           the delta relating to such bonds has 
                                           resulted in a notifiable change in 
                                           TUI AG's aggregate interest in the 
                                           voting rights of TUI Travel PLC, however 
                                           TUI AG's actual holding of convertible 
                                           bonds (on a nominal basis as well 
                                           as the number of TUI Travel PLC shares 
                                           underlying such bonds) has not changed 
                                           since the date of issue of such bonds 
                                           on 27 April 2010. 
 
                                           (2) 148,424,474 of those TUI Travel 
                                           PLC shares in which TUI AG has an 
                                           indirect interest (as referred to 
                                           in 8A above) are the same shares as 
                                           those which it has a right to acquire 
                                           under the Call Option (as referred 
                                           to in 8B above). The registered holder 
                                           of such shares is Nero Finance Limited. 
 
                                           (3) 86,967,049 of those TUI Travel 
                                           PLC shares in which TUI AG has an 
                                           indirect interest (as referred to 
                                           in 8A above) are the same shares as 
                                           those which it has a right to acquire 
                                           under the Contingent Forward Purchase 
                                           Agreement (as referred to in 8B above). 
                                           The registered holder of such shares 
                                           is Antium Finance Limited. 
 
                                           (4) TUI AG's aggregate 57.52% interest 
                                           referred to in section 8 above is 
                                           equivalent to 51.65% of TUI Travel 
                                           PLC's share capital on a fully diluted 
                                           basis. 
---------------------------------------  ---------------------------------------------- 
 14. Contact name:                        N/A 
---------------------------------------  ---------------------------------------------- 
 15. Contact telephone number:            N/A 
---------------------------------------  ---------------------------------------------- 
 
 

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