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Strategic stakes and holdings – June 2007<br />
Company Activity Holder Declared stake Last<br />
Date Market Notes<br />
change<br />
Price<br />
32Red (TTR) Gambling JO Hambro 15.8% (10,871,500) +6m 14/05/07 43.5p Finals were out 13/03/07.<br />
Aberdeen Asset<br />
Management<br />
(ADN)<br />
Investment<br />
Management<br />
Lansdowne<br />
Partners<br />
10.32% (64,821,717) +13.5m 16/05/07 204p Interims were out 01/05/07.<br />
AB Foods (ABF) Food Witting<strong>to</strong>n Inv. 54.51% (431,515,000) 09/05 936p Interims were out 24/04/07.<br />
(Wes<strong>to</strong>n<br />
family)<br />
Accident<br />
Exchange (ACE)<br />
Rental Au<strong>to</strong> Steve Evans 44.7% (31,796,571) +135,000 10/04/07 135p Last trading statement 10/04/07.<br />
Accsys<br />
Technologies<br />
(AXS)<br />
ACP Capital<br />
(APL)<br />
Adnams ‘B’<br />
(ADB)<br />
AEA Technology<br />
(AAT)<br />
Consulting<br />
Rajhi<br />
Holdings<br />
6.4% (9,000,000)<br />
23/04/07<br />
E3.88 Interims were out 13/12/06.<br />
Saad<br />
7.78% (11,575,000)<br />
04/06/07<br />
Investments<br />
Investment ToscaFund 14.47% (28,880,000) 27/03/07 147p Last trading statement 15/03/07.<br />
Brewing<br />
GPG<br />
8.9%<br />
+16,990 17/04/07<br />
20200p Finals were out 02/04/07.<br />
Man Financial 3.26% (9,320)<br />
15/11/06<br />
Engineering JO Hambro 8.18% (9,679,684) +2,460,000 23/03/07 134p Last trading statement 12/04/07.<br />
Aegis (AGS) Advertising Financiere du<br />
Loch (Vincent<br />
Bollore)<br />
Aer Lingus<br />
(AERL)<br />
Airlines<br />
Ryanair<br />
(Coinside)<br />
28.96% (332,852,963) +4,300,000 30/04/07 148.5p Last AGM statement 25/05/07.<br />
25.17% (133,139,417)<br />
+31,796,868<br />
29/11/06<br />
€2.97 Ryanair’s offer lapsed on 21/12/06.<br />
Aero Inven<strong>to</strong>ry<br />
(AI)<br />
Software<br />
Irish<br />
Government<br />
Lansdowne<br />
Partners<br />
25.35% (134,109,026)<br />
9.97% (4,704,332)<br />
-15,549,301<br />
03/11/06<br />
03/03/06<br />
430p Interims were out 12/03/07.<br />
JO Hambro<br />
Afren (AFR) Oil Lansdowne<br />
Partners<br />
5.15% (2,430,576) +535,826<br />
8.56% (17,943,333) +5,500,000<br />
16/10/06<br />
18/01/06<br />
62.5p Heerema has taken $25m of the bond issue. Prelims were out<br />
27/03/07.<br />
Lehman Bros.<br />
3.86% (7,928,000)<br />
-2m<br />
05/05/07<br />
International<br />
Finance Corp.<br />
(World Bank)<br />
4.02% (8,421,000)<br />
11/05/05
Strategic stakes and holdings – June 2007<br />
Company Activity Holder Declared stake Last<br />
change<br />
African Copper Metal<br />
RAB Capital 9.97% (13,008,810)<br />
(ACU)<br />
Goldman 10.02% (13,148,615) +237,400<br />
Date<br />
20/03/07<br />
20/03/07<br />
Market Notes<br />
Price<br />
73p Finals were out 26/03/07.<br />
African Eagle<br />
(AFE)<br />
Air Partner (AIP)<br />
Geologic<br />
Resource<br />
Fund<br />
9.09% (11,926,535) +407,735 28/12/06<br />
Mining RAB Capital 17.86% (27,515,312) -3,590,000 13/12/05 13p Last drilling report 10/04/07.<br />
Transport<br />
services<br />
Anthony Mack<br />
(Ch.)<br />
17.74% (1,762,000) -1,500,000 20/04/04 1348p Interims were out 04/04/07.<br />
Airsprung<br />
Furniture (APG)<br />
Furnishings<br />
Redbird<br />
Holdings<br />
29.15% (7,156,000)<br />
+200,000<br />
06/05<br />
42p Interims were out 05/12/06.<br />
Albemarle &<br />
Bond (ABM)<br />
Alliance Pharma<br />
(APH)<br />
Retail<br />
Investment<br />
Tony Lisanti<br />
(CEO)<br />
JO Hambro<br />
EZCorp.<br />
Nigel Wray<br />
(Syncbeam)<br />
14.26% (3,500,000)<br />
7.45% (3,509,000)<br />
28.48% (13,277,000)<br />
6.52% (9,605,407)<br />
+3,500,000 28/09/05<br />
-175,000 22/03/07 244p Interims were out 12/02/07.<br />
+3,250,000 23/06/05 8.75p Last AGM statement 16/05/07.<br />
John Dawson<br />
31.68% (46,685,000)<br />
Stella Dawson<br />
10.57% (15,576,000)<br />
Alterian (ALN)<br />
Data<br />
Processing<br />
JO Hambro<br />
Paul Chapman<br />
8.25% (3,475,652)<br />
4.81% (2,029,400)<br />
-1,000,000<br />
28/10/05<br />
04/01/07<br />
163p Finals were out 24/05/07.<br />
Amco Corp.<br />
(ARP)<br />
Building<br />
UBS/GAM<br />
Leonard Licht<br />
Amco<br />
Investments<br />
AMEC (AMEC) Construction Toscafund<br />
(Martin<br />
Hughes)<br />
10.88% (4,348,000)<br />
4.95% (640,500)<br />
49.9% (6,451,318)<br />
11.31% (37,697,620)<br />
8.13% (27,108,534)CFD<br />
07/11/05<br />
-10,000 11/04/07 440p Finals were out 06/03/07. Talks off (17/01).<br />
-130,000 05/04/05<br />
+8,983,352 14/11/06 603p Last AGM statement 17/05/07.<br />
Amiad Filtration<br />
(AFS)<br />
Flitration A<strong>to</strong>rka 19.4% (3,661,942) +25,000 18/05/07 118p Next AGM due 26/06/07.<br />
Andrews Sykes<br />
(ASY)<br />
Rental<br />
Jacques<br />
Murray<br />
(Chairman)<br />
(84)<br />
84.64% (37,707,369) 04/05/07 180p Finals were out 26/04/07.
Strategic stakes and holdings – June 2007<br />
Company Activity Holder Declared stake Last<br />
Date Market Notes<br />
change<br />
Price<br />
Anglo Pacific<br />
(APF)<br />
Diversified Ransomes<br />
Dock<br />
8.65% (8,805,000) -36,318 02/07 156p Last AGM statement 26/04/07.<br />
ANT (ANTP) Software Richard<br />
Farleigh<br />
9.69% (2,353,000) -396,825 03/06 38.5p Finals were out 06/03/07.<br />
An<strong>to</strong>fagasta<br />
(ANTO)<br />
Minerals<br />
Abaroa<br />
(Andronico<br />
Luksic)<br />
66.29% (786,153,530) 21/03/07 563p Recent 4:1 share split. Q1 results were out 30/05/07.<br />
Aortech<br />
International<br />
(AOR)<br />
Medical<br />
Man Financial<br />
Gordon<br />
Wright<br />
(Founder &<br />
former<br />
Chairman)<br />
3.03% (115,543)<br />
8.79% (335,107)<br />
26/01/07<br />
27/04/07<br />
485p<br />
Supply & license agreement announced 20/03/06. FDA approval for<br />
Elast-Eon granted 25/11. Interims were out 06/12/06.<br />
Isis<br />
22.6% (861,861)<br />
Edward<br />
McDaid<br />
9.54% (363,383)<br />
27/04/07<br />
Bluehone<br />
Inves<strong>to</strong>rs<br />
API Group (API) Paper Steel Partners<br />
II LP<br />
23.96% (912,841)<br />
29.46% (10,149,000)<br />
12/06<br />
93.5p Lapsed bid approach (11/02/05) from Illinois Tool Works. Interims<br />
were out 30/05/07.<br />
CACI<br />
5.91% (2,036,000)<br />
12/06<br />
Bear Stearns<br />
8.01% (2,759,000)<br />
+660,000<br />
12/06<br />
Man Financial<br />
3.16% (1,090,000)<br />
12/06<br />
Arena Leisure<br />
(ARE)<br />
Racetracks<br />
Wynnefield<br />
Capital<br />
Rumney<br />
Manor<br />
Guild<br />
Ventures<br />
Man Financial<br />
4.59% (1,580,000)<br />
6.4% (22,000,000)<br />
35.05% (127,663,000)<br />
40%.<br />
Reubens are reported <strong>to</strong> hold 14% through CFDs.<br />
Can<strong>to</strong>r<br />
7.88% (28,686,860)<br />
25/10/06<br />
HBOS<br />
5.12% (18,647,124)<br />
16/03/07
Strategic stakes and holdings – June 2007<br />
Company Activity Holder Declared stake Last<br />
change<br />
Aricom (TIO) Metals Lansdowne 10.63% (99,420,169) +53,400,000<br />
Partners<br />
Date<br />
06/06/07<br />
Market<br />
Price<br />
63p<br />
Notes<br />
Originally spun off from Peter Hambro Mining (2003). Recent<br />
placing of 200m share at 45p. AGM due 20/06/07.<br />
Pavel<br />
Maslovskiy<br />
10.1% (52,400,223)<br />
+10,000,000<br />
17/07/06<br />
Malavasia<br />
27.91% (145,000,000)<br />
27/04/07<br />
Ark Therapeutics<br />
(AKT)<br />
Medical<br />
Peter Hambro<br />
Lansdowne<br />
Partners<br />
6.02% (31,266,955)<br />
7.08% (11,748,373)<br />
+10,000,000<br />
+2.7m<br />
17/07/06<br />
14/03/07<br />
144p Last research update 31/05/07.<br />
Arling<strong>to</strong>n Group<br />
(ARL)<br />
Armor Group Int’l<br />
(ARG)<br />
Armour Group<br />
(AMR)<br />
Ashley <strong>House</strong><br />
(ASH)<br />
JO Hambro 3.89% (6,444,294) +1,400,000 11/07/06<br />
Investment Nick Barham 70.1% (45,281,000) +4,511,000 03/06 40.5p Interims were out 20/12/06. Undertaking restructuring.<br />
Protection Lansdowne<br />
Partners<br />
9.25% (4,891,847) -10,031 03/05/07 90p Last AGM statement 22/05/07.<br />
Audio<br />
Southwind 18.82% (12,890,152) +500,000 18/12/06 48.5p Interims were out 04/04/07.<br />
(Bob Mor<strong>to</strong>n<br />
Ch.)<br />
Building GPG 11.56% (3,132,838) -700,000 29/01/07 147.5p Last trading update 25/04/07.<br />
Ashley (Laura)<br />
(ALY)<br />
Retail<br />
MUI<br />
Dr. Khoo Kay<br />
Peng<br />
ASOS (ASC) E-commerce William Currie<br />
34.5% (255,938,000)<br />
24.49% (182,670,822) +100,000 21/12/06<br />
10.5% (7,650,000)<br />
+1,650,000<br />
21/05/07<br />
30p Finals were out 28/03/07.<br />
121p Last trading statement 30/04/07.<br />
Fidelity<br />
10.2% (7,364,739)<br />
23/02/07<br />
AssetCo (ASTO)<br />
Atlas Estates<br />
(ATLS)<br />
Commercial<br />
Services<br />
Investment<br />
Nicholas<br />
Robertson<br />
(CEO)<br />
North Atlantic<br />
John Shannon<br />
JO Hambro<br />
Elran Real<br />
Estate<br />
Augean (AUG) Investment North Atlantic<br />
Value<br />
13.74% (9,895,057) +954,387<br />
6.42% (4,313,540)<br />
40% (26,963,327)<br />
6.93% (3,356,894)<br />
16.7% (8,088,436) +121,200<br />
5.31% (3,480,000) +1,072,000<br />
21/12/06<br />
02/04/07<br />
20/04/07<br />
20/03/07<br />
30/01/07<br />
23/02/07<br />
218p Interims were out 29/11/06.<br />
343p Finals were out 04/04/07.<br />
149p<br />
Prelims were out 20/03/07. One51 run by Philip Lynch, paid around<br />
155p for the stake.<br />
Goldman<br />
3.77% (2,466,253)<br />
-5,150,802<br />
06/12/06<br />
One51<br />
26.89%<br />
+2,350,000<br />
07/12/06
Strategic stakes and holdings – June 2007<br />
Company Activity Holder Declared stake Last<br />
Date<br />
change<br />
Au<strong>to</strong>logic (ALG) Transport GPG<br />
21.92% (13,323,337) +5,615,829 26/02/07<br />
Market Notes<br />
Price<br />
108p Finals were out 12/04/07.<br />
Avanti Comms<br />
(AVN)<br />
Avingtrans (AVG)<br />
Satellite<br />
Metal<br />
processors<br />
Man Financial<br />
North Atlantic<br />
Caledonia Inv.<br />
Nigel Wray<br />
Bluehone<br />
Inves<strong>to</strong>rs<br />
5.65% (3,436,001)<br />
7.07% (1,816,613)<br />
23.97% (6,163,301)<br />
13.93% (2,447,433)<br />
11.95% (2,101,000)<br />
22/06/06<br />
16/04/07<br />
16/04/07<br />
+120,000 31/05/07<br />
05/10/06<br />
226p Demerged from Avanti Screenmedia 16/04/07.<br />
129p Last trading update 04/01/07.<br />
Baggeridge Brick<br />
(BGBK)<br />
BATM Adv<br />
Comm (BVC)<br />
Building<br />
Products<br />
Networking<br />
Unicorn<br />
Wienerberger<br />
Michelmersh<br />
Brick<br />
JO Hambro<br />
Dr. Zvi Marom<br />
Beale (BAE) Retail Lawdene Ltd<br />
(Thomson<br />
Family)<br />
Ben Bailey (BBC) Building Trefick<br />
13.9% (2,444,000)<br />
50.3% (20,784,709)<br />
23.12%<br />
7.27% (28,314,097)<br />
05/10/06<br />
+10.3% 15/06/07<br />
04/06/07<br />
245p<br />
Subject <strong>to</strong> 247p agreed bid.<br />
20/03/07 32.5p Finals were out 28/02/07.<br />
23.74% (92,879,500) +128,600<br />
24.36% (5,000,000) 2000 64.5p Lawdene describe their stake as a ‘trade investment’. Lawdene is a<br />
subsidiary of privately owned Hoopers. Takeover talks terminated.<br />
Last trading update 25/05/07.<br />
5.84% (698,397)<br />
+23,079 06/06/07 658p Considering strategic options (21/02/07).<br />
Benfield Group<br />
(BFD)<br />
Berkeley Group<br />
Holdings (BKG)<br />
Insurance<br />
Building<br />
Town Centre<br />
Secs<br />
Harris Assoc.<br />
Deccan Value<br />
Advisers<br />
Saad<br />
Investments<br />
3.34% (400,000)<br />
+290,000 14/06/07<br />
5.75% (12,941,000) +61,800 03/07 316p Prelims were out 08/03/07.<br />
6.16% (14,066,000) +850,000 23/01/07<br />
29.28% (35,175,000) +1,100,000 07/06 1903p Prelims due 29/06/07.<br />
Berkeley<br />
Technology<br />
(BEK)<br />
Finance<br />
Peter<br />
Gyllenhammar<br />
Arthur<br />
Trueger<br />
6.4% (4,095,000)<br />
29.9% (19,261,000)<br />
+945,000 11/02/04 5p Previously London Pacific Group. Q1 results were out 10/05/07.<br />
Big Yellow Group<br />
(BYG)<br />
S<strong>to</strong>rage<br />
Philip Burks<br />
David Ross<br />
7.7% (8,767,000)<br />
9.92% (11,354,140)<br />
-250,000<br />
+277,000<br />
08/02/07<br />
26/09/06<br />
612p Finals were out 21/05/07.<br />
Nicholas<br />
Vetch<br />
8.27% (19,417,000)<br />
-1,000,000<br />
08/02/07<br />
Thames River<br />
5.99% (6,826,086)<br />
-1,843,000<br />
13/02/07
Strategic stakes and holdings – June 2007<br />
Company Activity Holder Declared stake Last<br />
change<br />
Billam (BLLM) Investment Angus Forrest 10.7% (1,123,000) +50,000<br />
Date<br />
12/04/05<br />
Market Notes<br />
Price<br />
17.75p 1 for 100 consolidation now effective. Interims were out 29/09/06.<br />
Caldwell<br />
Investments<br />
5.25% (556,750)<br />
-483,000<br />
03/05/07<br />
David Barry<br />
(Value<br />
Investments)<br />
2.49% (500,000)<br />
+250,000<br />
William<br />
Wes<strong>to</strong>n<br />
8.25% (875,000)<br />
+325,000<br />
04/10/06<br />
Billing Services<br />
(BILL)<br />
Finance<br />
Stephen<br />
Wickes<br />
Galloway (Jim<br />
Mellon)<br />
25.8% (2,700,101)<br />
13.63% (38,185,000)<br />
+619,500 14/03/06<br />
+4,000,000 02/04/07<br />
33.5p Buy-out talks have foundered. Finals were out 02/04/07.<br />
Hawkeye<br />
Capital<br />
20.2% (27,518,471)<br />
02/11/06<br />
Biofuels (BFC) Chemicals Toscafield<br />
(Martin<br />
Hughes)<br />
nil 20/03/07 14.25p Last financing update 01/06/07.<br />
Blacks Leisure<br />
(BSLA)<br />
Block Shield<br />
Corp. (BLS)<br />
Borders &<br />
Southern<br />
Petroleum (BOR)<br />
BowLeven<br />
(BLVN)<br />
Retail<br />
Electrical<br />
Oil<br />
Oil<br />
Sportsworld<br />
(Ashley)<br />
Michael<br />
Fitzgerald<br />
Lansdowne<br />
Partners<br />
Harry Dobson<br />
(Chairman)<br />
Suntera<br />
Resources<br />
29.38% (12,503,071) 26/10/06 250p Prelims were out 03/05/07.<br />
33.2% (11,050,279) +150,000 25/10/06 93p Last trading update 23/04/07.<br />
8.65% (11,050,000) +1,500,000 18/07/06 27p Finals were out 16/04/07.<br />
15.67%<br />
13.38% (9,938,000) +5,500,000 20/12/06 202p Last drilling report 25/04/07.<br />
Britvic (BVIC) Drinks Permira<br />
(Snowdon)<br />
Brown (N) Group Retail<br />
Alliance<br />
(BWNG)<br />
family<br />
13.98% (30,207,082) 19/12/06 396p Interims were out 21/05/07.<br />
48% 331p Finals were out 09/05/07.<br />
BSkyB (BSY) Television News Corp.<br />
Harris Assoc.<br />
39.14% (686,022,000)<br />
3.2% (56,092,700) 19/03/07<br />
541p Q3 results were out 02/05/07.
Strategic stakes and holdings – June 2007<br />
Company Activity Holder Declared stake Last<br />
change<br />
Business Post Transport Peter Kane 27.3% (14,900,000)<br />
(BPG)<br />
(founder)<br />
Date<br />
05/06<br />
Market<br />
Price<br />
465p<br />
Notes<br />
Finals were out 23/05/07. Kane family holds 52% in <strong>to</strong>tal.<br />
Cadbury<br />
Schweppes<br />
(CBRY)<br />
Cambridge<br />
Mineral Resource<br />
(CMR)<br />
Cardinal<br />
Resources (CDL)<br />
Foods<br />
Michael Kane<br />
Nelson Peltz<br />
(Trian)<br />
12.8% (7,010,019) +8,725 22/01/07<br />
2.98% (62,465,267) 13/03/07 723p Finals were out 20/02/07.<br />
Diamonds RAB Capital 13.1% (27,396,783) +4,000,000 20/04/05 2.88p Last drilling report 10/04/07.<br />
Oil QVT 17.8% (20,395,000) +250,000 23/03/07 16.5p Last operational update 13/02/07.<br />
Cardpoint<br />
(CASH)<br />
Finance<br />
Cycladic<br />
North Atlantic<br />
9.63% (10,766,265)<br />
17.01% (19,031,562)<br />
+146,227<br />
+1,044,000<br />
08/02/07<br />
04/05/07<br />
95p<br />
RIT has an interest in 14.69% in <strong>to</strong>tal through a holding in Cycladic<br />
Capital. Interims were out 21/05/07. Rejected a 100p per share bid<br />
(06/11/06).<br />
Carpetright<br />
(CPR)<br />
Retail<br />
Goldman<br />
Lord Harris<br />
Harris<br />
Associates<br />
11.08% (11,692,060)<br />
23.4% (15,874,632)<br />
7.06% (4,799,408)<br />
+650,000<br />
05/12/06<br />
29/12/06<br />
08/05/07<br />
1132p Last trading update 12/04/07.<br />
Olayan Group<br />
(Crescent)<br />
14.87% (10,099,000)<br />
Carphone<br />
Warehouse<br />
(CPW)<br />
Carr’s Milling<br />
(CRM)<br />
Electronics<br />
Agricultural<br />
Man Financial<br />
Charles<br />
Duns<strong>to</strong>ne<br />
Peter Ross<br />
Heygate &<br />
Sons<br />
5.95% (4,042,732)<br />
02/02/07<br />
33.2% (297,577,535)<br />
26/03/07 306p Last trading statement 02/04/07.<br />
21.7% (193,840,759) -6,000,000 17/06/05<br />
16.2% (1,333,000) -282,000 11/04 552p Interims were out 23/04/07.<br />
Cashbox (CBOX) Commercial Lansdowne 4.51% (3,750,000) 04/06/07 17p Interims were out 30/03/07.<br />
Partners<br />
Castle<br />
Acquisitions<br />
(CAQ)<br />
SPV JO Hambro 26.37% (41,551) 26/03/07 4975p Finals were out 22/03/07.<br />
Cellcast (CLTV) Telecoms Neil Craven 10.89% (6,748,014) +3,225,000 30/04/07 8.5p Finals were out 04/05/07<br />
Centrica (CNA) Gas Petronas 4% (145,000,000) +36,000,000 09/09/05 380p Last AGM statement 14/05/07.
Strategic stakes and holdings – June 2007<br />
Company Activity Holder Declared stake Last<br />
change<br />
Chapelthorpe Miscellaneous Amberley (inc. 5.97% (12,173,860)<br />
(CPL)<br />
CFDs)<br />
Date<br />
20/04/05<br />
Market Notes<br />
Price<br />
4.25p Prelims due 12/07/07.<br />
Starlight Inv.<br />
(Naggar)<br />
3.52% (7,173,860)<br />
+7,173,860<br />
26/07/05<br />
North Atlantic<br />
6.1% (12,455,000)<br />
CACI<br />
9.77% (19,950,000)<br />
+3,600,000<br />
15/12/06<br />
Character Group<br />
(CCT)<br />
CHE Hotels<br />
Group (CEU)<br />
Gyllenhammar 5.03% (9,325,000) +575,000 10/04/07<br />
Toys 3i 25.77% (11,525,898) +11,525,898 18/07/06 173p Stake acquired from Giochi Preziosi 18/07/06 at 58p. Interims were<br />
out 24/04/07.<br />
Hotels<br />
Melvin<br />
11% (9,638,184)<br />
+140,000 13/02/06 28p<br />
Placing of 49m shares at 41p each on 22/12/05. 23.8% of Dawnay’s<br />
Lawson<br />
stake is on CFD. Finals were out 25/04/07.<br />
Can<strong>to</strong>r<br />
8.23% (7,206,697)<br />
+140,000<br />
12/01/07<br />
Nick<br />
Beaumont-<br />
Dark<br />
3.09% (2,700,000)<br />
24/01/06<br />
CACI<br />
24.23% (21,211,024)<br />
+3,500,000<br />
20/02/07<br />
Dawnay Day<br />
(CFD)<br />
25.6% (22,417,000)<br />
05/06<br />
China Biodiesel<br />
(CBI)<br />
ChoicesUK<br />
(CHUK)<br />
Clarity<br />
Commerce<br />
Solutions (CCS)<br />
Marc Downes 4.34% (3,800,000) +1,047,000 03/05/07<br />
Energy JO Hambro 3.36% (1,526,471) 03/04/07 99.5p Finals were out 16/04/07.<br />
Retail<br />
Gyllenhammar 20.03% (3,621,000) +102,500 06/12/06 11p Last trading statement 18/04/07.<br />
Iain Muspratt 27.9% (5,037,000)<br />
(CEO)<br />
Software Groundlinks 6.6% (1,343,000)<br />
20/02/04 58.5p Last strategic update 23/05/07.<br />
Graham York 14.3% (3,623,343)<br />
23/05/07<br />
Bob Mor<strong>to</strong>n<br />
(Ch.)<br />
4.2% (891,667)<br />
+225,000<br />
03/03/04<br />
Bluehone<br />
Inves<strong>to</strong>rs<br />
Clarkson (CKN) Transport CMB Group<br />
12.5% (2,541,000)<br />
15.06% (2,757,000)<br />
03/07 908p CMB is one of Clarkson’s clients. Last AGM statement 31/05/07.<br />
Employee<br />
shares<br />
30.523% (4,959,000)
Strategic stakes and holdings – June 2007<br />
Company Activity Holder Declared stake Last<br />
change<br />
Clearspeed Technology Lansdowne 10.18% (6,382,268) +2,700,000<br />
Technology<br />
Partners<br />
(CSD)<br />
JO Hambro 10.11% (6,330,759) +3,400,000<br />
Date<br />
02/04/07<br />
27/04/07<br />
Market Notes<br />
Price<br />
105p Recently placed 20m shares at 100p.<br />
Clipper<br />
Windpower<br />
(CWP)<br />
Energy<br />
Richard<br />
Farleigh<br />
Lehman<br />
Lansdowne<br />
Partners<br />
12.83% (8,033,045)<br />
8.9% (9,522,294)<br />
7.43% (7,961,517)<br />
-1,000,000<br />
-219,000<br />
+163,500<br />
11/05/06<br />
24/04/07<br />
23/04/07<br />
867p Finals were out 29/03/07. The board owns a <strong>to</strong>tal of 29%.<br />
Dehlsen<br />
Assoc.<br />
8.63% (9,234,904)<br />
-1,500,000<br />
19/01/07<br />
CML<br />
Microsystems<br />
(CML)<br />
Semiconduc<strong>to</strong><br />
rs<br />
BlackRock<br />
Eaglet<br />
Liontrust<br />
14% (15,098,145)<br />
6.63% (991,590)<br />
17.13% (2,559,842)<br />
+100,000<br />
-76,500<br />
25/05/07<br />
06/06<br />
19/03/07<br />
117p Finals were out 12/06/07.<br />
George Gurry 29.4% (4,389,000)<br />
06/06<br />
Cobham (COB) Aerospace Vilaseca 5.03% (57,000,000) 03/01/07 220p Finals were out 15/03/07.<br />
Coffee Republic<br />
(CFE)<br />
Retail<br />
Surthurst<br />
Plymouth<br />
Land (Stephen<br />
Bartlett)<br />
13.55% (71,500,000)<br />
13.45% (70,000,000)<br />
+15,000,000<br />
+4,000,000<br />
22/01/07<br />
15/09/06<br />
3.94p Interims were out 20/12/06.<br />
Man Financial<br />
3.09% (18,350,000)<br />
02/11/06<br />
Colt Telecom<br />
(COLT)<br />
CACI<br />
4.02% (23,900,000)<br />
10/04/07<br />
Telecoms Fidelity 51.99% (353,579,677) -27,587,518 22/09/06 157p Q1 figures were out 27/04/07.<br />
Communisis<br />
(CMS)<br />
Printing<br />
North Atlantic<br />
Value LLP<br />
13.29% (18,410,000)<br />
+2,860,000<br />
08/05/07<br />
65p Finals were out 28/02/07.<br />
Computacenter<br />
(CCC)<br />
Computer<br />
Services<br />
SVG Capital<br />
Taube Hodson<br />
S<strong>to</strong>nex<br />
5.88% (8,230,000)<br />
3.62% (6,881,217)<br />
-100,000 08/09/06<br />
-10,000 07/12/05 246p Last AGM statement 04/05/07.<br />
Computerland<br />
(CPU)<br />
Retail<br />
Peter Ogden<br />
Graham<br />
Gilbert<br />
22.2% (35,336,000)<br />
37.2% (3,800,000)<br />
-115,000<br />
28/02/05<br />
237p Last trading statement 30/04/07.<br />
Eaglet<br />
12.73% (1,300,431)<br />
+40,000<br />
20/03/07
Strategic stakes and holdings – June 2007<br />
Company Activity Holder Declared stake Last<br />
Date Market Notes<br />
change<br />
Price<br />
Corporate Human Velvet Hights 28.6% (308,137,682) +1.1m 09/03/07 8.47p Finals were out 21/02/07.<br />
Services Group<br />
(CSV)<br />
Resources (Michael<br />
Ashcroft)<br />
Cosalt (CSLT) Manufacturing Hanover<br />
General<br />
Partner<br />
14.79% (2,178,726) +216,812 10/04/07 464p Finals were out 20/02/07.<br />
David Ross<br />
13.54% (2,002,273)<br />
+10,000<br />
13/04/07<br />
Rappaport<br />
Family<br />
Creigh<strong>to</strong>ns (CRL) Cosmetics David Abell<br />
24.6%<br />
6.54% (3,550,000)<br />
+750,000<br />
02/11/06<br />
5.5p Interims were out 20/12/06.<br />
William<br />
McIIroy<br />
(Ora<strong>to</strong>rio)<br />
Croda (CRDA) Chemicals Lansdowne<br />
Partners<br />
27.48% (14,916,000) +500,000 02/05/07<br />
7.03% (9,575,368) +3,200,000 05/09/06 688p Last trading statement 26/04/07.<br />
CSS Stellar (CSS) Consulting Charles<br />
Soukup<br />
29.9% (8,543,000)<br />
+8,493,000<br />
13/09/06 37.25p Prelims were out 15/03/07.<br />
Julian Jakobi<br />
(Joint CEO)<br />
D1 Oils (DOO) Energy Lansdowne<br />
Partners<br />
15.18% (4,336,246)<br />
3.9% (2,404,000)<br />
+42,500<br />
12/05<br />
180p Last AGM statement 23/05/07.<br />
UBS<br />
17.81% (10.956,834)<br />
+916,072<br />
24/04/07<br />
Morgan<br />
Stanley<br />
4.95% (3,047,234)<br />
-652,144<br />
03/05/07<br />
Daily Mail &<br />
General (DMGT)<br />
Principle 10.17% (6,254,545)<br />
13/03/07<br />
Capital<br />
Publishing Rothermere 20.52% (76,195,913) -665,399 29/01/07 847p Interims were out 24/05/07<br />
Dart Group (DTG) Transport Philip Meeson<br />
39.99% (56,240,000)<br />
06/05<br />
117p Last trading update 17/04/07.<br />
Datamoni<strong>to</strong>r<br />
(DTM)<br />
Finance<br />
JO Hambro<br />
Michael<br />
Danson (CEO)<br />
5.62% (7,917,349) +229,929 22/05/07<br />
13.15% (9,488,494) -9,000,000 01/03/07 659p Subject <strong>to</strong> agreed 650p per share bid from Informa (14/05).<br />
Davenham Group<br />
(DAV)<br />
Finance<br />
Cycladic<br />
Perseus<br />
Holdings<br />
(ACP Capital)<br />
Strategic stakes and holdings – June 2007<br />
Company Activity Holder Declared stake Last<br />
change<br />
Dawson<br />
Textiles GPG<br />
6.78% (15,274,890) +2,700,000<br />
International<br />
(DWSN)<br />
Fairmont 3.6% (8,057,000)<br />
Trading ( E<br />
Gallo)<br />
Date<br />
20/03/07<br />
03/06<br />
Market Notes<br />
Price<br />
4p Prelims were out 04/06/07.<br />
Giovanni<br />
Ghione<br />
5.82% (13,113,800)<br />
+2,553,000<br />
26/03/07<br />
Third Advance<br />
Value<br />
29.09% (65,500,000)<br />
+12,712,000<br />
19/03/07<br />
Man Financial<br />
4.33% (9,745,000)<br />
-3,000,000<br />
03/06<br />
Deal Group<br />
Media (DGM)<br />
Internet<br />
Security<br />
Can<strong>to</strong>r<br />
JO Hambro<br />
I-spire Corp.<br />
8.19% (18,450,000)<br />
10.81% (41,235,000)<br />
22.29% (85,055,000)<br />
+3,534,000<br />
-600,000<br />
+5,000,000<br />
03/07<br />
20/12/05<br />
10/11/05<br />
3.25p Deal Group reversed in<strong>to</strong> IBNet in 2003. Finals were out 11/04/07.<br />
Debenhams<br />
(DEB)<br />
Retail<br />
Adrian Moss<br />
Unity Inv.<br />
(Baugur & FL<br />
Group)<br />
11.64% (44,419,000) +1,500,000 07/10/05<br />
4.87% (41,833,000) 08/06/07 140p Interims were out 17/04/07.<br />
Delta (DLTA) Diversified Stern Family<br />
Foundation<br />
8.18% (12,574,659)<br />
-27,000,000<br />
11/05/06<br />
145p Last AGM statement 02/05/07.<br />
Steel Partners<br />
II LP<br />
3.49% (5,363,979)<br />
+768,191<br />
12/03/07<br />
Goldman<br />
3.91% (6,008,862)<br />
-1,574,910<br />
21/12/06<br />
Densitron<br />
Technologies<br />
(DSN)<br />
Electronics<br />
Forvalnings<br />
(Gyllenhmmr)<br />
Trafalgar<br />
Devro (DVO) Food Acomita<br />
Investments<br />
24.3% (15,745,110)<br />
nil<br />
13.77% (22,434,052)<br />
+600,000<br />
-6,162,071<br />
+13,525,126<br />
09/12/05<br />
02/04/07<br />
09/03/03<br />
7.88p Densitron owns 24.9% of Vbest Electronics, which floated on the<br />
Taiwan market at the end of May 2004. Finals were out 25/04/07.<br />
116p<br />
Acomita is Irish horse breeder John Magnier’s vehicle. Last AGM<br />
statement 03/05/07. Talks off (13/04).<br />
Dobbies Garden<br />
Centres (DGC)<br />
Dolphin Capital<br />
Invest (DCI)<br />
Retail<br />
Venture<br />
Capital<br />
Bestinver<br />
Gestion<br />
10.1% (16,447,248) +181,465 19/03/07<br />
West Coast 20.6% (2,064,633) +1,001,553 14/06/07 1785p Subject <strong>to</strong> multiple bid approaches. Hunter has raided the market at<br />
Capital (Lios)<br />
1750p.<br />
Lansdowne 11.8% (40,205,000) +31,880,000 09/10/06 182p Finals were out 12/03/07.
Strategic stakes and holdings – June 2007<br />
Company Activity Holder Declared stake Last<br />
change<br />
Domino’s Pizza Retail<br />
Nigel Wray 22.12% (11,404,725) -2.7m<br />
UK & IRL(DOM)<br />
Colin Halpern 11.7% (6,033,540) -350,000<br />
Date<br />
21/02/07<br />
21/02/07<br />
Market Notes<br />
Price<br />
270p Interims due 23/07/07.<br />
Stephen<br />
Hemsley<br />
Dragon Oil (DGO) Oil Emirates<br />
National<br />
easyJet (EZJ) Airlines Haji-Ioannou<br />
Family<br />
EBT Mobile<br />
China (EBT)<br />
Cellular<br />
JO Hambro<br />
James<br />
Reiman (Ch.)<br />
4.27% (2,200,000)<br />
-257,831<br />
21/02/07<br />
47.33% (241,414,000) 04/05 178p Last AGM statement 22/05/07.<br />
45% 581p Non-UK share ownership limited <strong>to</strong> 45% (raised in Nov 05 from<br />
40%). Easygroup holds 16.6%, Stelio’s brother 12% & sister 12%.<br />
Interims were out 09/05/07.<br />
4.04% (7,172,000)<br />
21/03/07 26.75p Last AGM statement 21/05/07.<br />
34.6% (61,375,688)<br />
Electric Word<br />
(ELE)<br />
Publishing<br />
Audley<br />
Nigel Wray<br />
Sylvester<br />
Stein<br />
17.53% (37,000,000) +2,850,000<br />
8.12% (11,219,165)<br />
3.34% (4,624,857) -4,000,000<br />
16/05/07<br />
11/04/07<br />
18/04/06<br />
10p Prelims were out 06/03/07.<br />
Stewart<br />
New<strong>to</strong>n<br />
Elektron (EKT) Electronics Panther<br />
Securities<br />
(Andrew<br />
Perloff)<br />
14.1% (19,470,000)<br />
15.47% (13,260,909)<br />
+600,000<br />
+1,570,000<br />
07/03/06<br />
27/02/06<br />
19p Interims were out 18/09/06.<br />
Empresaria<br />
(EMR)<br />
Enova Systems<br />
(ENV)<br />
Enterprise Inns<br />
(ETI)<br />
John Kinder 17.25% (14,964,947) +397,300 26/01/07<br />
Human Miles Hunt & 23.4% 187p Finals were out 20/04/07.<br />
Resources Tony Martin<br />
Engineering JO Hambro 6.43% (950,000) 20/03/07 350p Q1 results were out 15/05/07.<br />
Pubs<br />
Lansdowne<br />
Partners<br />
7.07% (39,396,861) +709,915 28/02/07 742p Interims were out 15/05/07.<br />
Entertainment<br />
Rights (ERT)<br />
Broadcast<br />
Taube Hodson<br />
S<strong>to</strong>nex<br />
5.64% (23,410,000)<br />
03/05<br />
32p<br />
Recent placing 250m new shares at 28.5p. (14/12/06). Last AGM<br />
statement 31/05/07.<br />
Ashby Manor<br />
(Trevor<br />
Hemmings)<br />
14.43% (105,486,665)<br />
19/01/07<br />
SP Classic<br />
Holdings<br />
9.15% (66,867,268)<br />
11/01/07
Strategic stakes and holdings – June 2007<br />
Company Activity Holder Declared stake Last<br />
Date Market Notes<br />
change<br />
Price<br />
Equest Balkan Real Estate Trefick 3.1% (4,345,627) 10/04/07 125p Finals were out 18/04/07.<br />
Props (EBP)<br />
Eredene Capital SPV GLG Partners 28.14% (68,858,409) +89,462 22/03/07 25.25p Interims were out 09/12/06.<br />
(ERE)<br />
Euromoney<br />
(ERM)<br />
Publishing DMG<br />
Investments<br />
60.6% (62,148,000) 679p Interims were out 17/05/07<br />
Evolution Group<br />
(EVG)<br />
Investment<br />
Lansdowne<br />
Partners<br />
4.98% (11,025,750) +1,050,000 20/03/07 144p Last AGM statement 31/05/07.<br />
Falkland Islands<br />
Holdings (FKL)<br />
Diversified<br />
Channel<br />
Hotels & Prps<br />
5.612% (350,000)<br />
-15,000<br />
04/01/07<br />
283p Finals were out 13/06/07.<br />
Leonard Licht<br />
9.34% (791,250)<br />
-95,000<br />
09/02/05<br />
Artemis<br />
11.83% (995,902)<br />
+400,000<br />
01/03/07<br />
Falkland Oil &<br />
Gas (FOGL)<br />
Faroe Petroleum<br />
(FPM)<br />
Oil<br />
Oil<br />
Sir Harry<br />
Solomon<br />
RAB Capital<br />
Falkland<br />
Island<br />
Holdings<br />
Lansdowne<br />
Partners<br />
5.08% (430,027)<br />
28.66% (26,300,000)<br />
16.35% (15,000,000)<br />
5.01% (3,698,120)<br />
+5,000<br />
+1,150,000<br />
10/02/06<br />
05/06 79p Last AGM statement 16/05/07.<br />
7/02/07 119p Finals were out 13/03/07.<br />
Dana<br />
Petroleum<br />
12.9% (9,513,000)<br />
RAB Capital<br />
4.96% (3,658,000)<br />
-215,000<br />
03/06<br />
Fayrewood<br />
(FWY)<br />
Bionostics (BIO)<br />
Distribution<br />
Medical<br />
Products<br />
MHR Capital<br />
Man Financial<br />
North Atlantic<br />
North Atlantic<br />
Value<br />
4.92% (3,623,220) -300,000 19/05/06<br />
9% (4,686,000)<br />
+992,500 17/05/07 118p Prelims were out 29/03/07.<br />
6.5% (3,350,000)<br />
20/03/07<br />
26.76% (13,489,076) +4,001,969 08/06/07 28.25p Previously Ferraris. Subject <strong>to</strong> bid approach (08/06/07).<br />
Flomerics Group<br />
(FLO)<br />
Software<br />
Bluehone<br />
Inves<strong>to</strong>rs<br />
9.39% (1,380,000) 03/07 71.5p<br />
Flying Brands<br />
(FBDU)<br />
Retail<br />
Channel<br />
Hotels<br />
10.3% (2,610,000)<br />
+200,000<br />
30/05/07<br />
267p Last AGM statement 17/04/07.<br />
West Coast<br />
Capital<br />
(Hunter)<br />
29.9% (7,559,394)<br />
+7,559,394<br />
29/11/06
Strategic stakes and holdings – June 2007<br />
Company Activity Holder Declared stake Last<br />
Date Market Notes<br />
change<br />
Price<br />
Focus Solutions<br />
(FSG)<br />
Applications John Streets<br />
(CEO)<br />
29.68% (8,500,000) +100,000 28/06/06 65p Prelims due 12/06/07.<br />
Foreign &<br />
Colonial Inv<br />
Trust (FCI)<br />
Formation Group<br />
(FRM)<br />
Inv Trust<br />
Friends<br />
Provident<br />
Consulting David<br />
Kennedy<br />
Freeport (FPR) Real Estate GPG<br />
78.7% (62,807,975) 22/12/06 258p Interims were out 15/05/07.<br />
24.45% (30,137,813) +525,000 26/10/06 19.5p Subject <strong>to</strong> a reverse takeover.<br />
18.2% (6,890,781) +525,000 15/05/07 359p Subject <strong>to</strong> bid approach 10/08/06. Interims were out 21/03/07.<br />
Laxey<br />
Partners<br />
29.75% (11,263,494)<br />
+775,585<br />
22/06/06<br />
Can<strong>to</strong>r<br />
3.99% (1,510,000)<br />
17/08/06<br />
French<br />
Connection<br />
(FCCN)<br />
Galahad Gold<br />
(GLA)<br />
Retail<br />
Investment<br />
Dawnay Day<br />
Stephen<br />
Marks<br />
Unity (Baugur,<br />
FL, Kevin<br />
Stanford)<br />
Ian Watson<br />
Jim Slater<br />
5% (1,893,205)<br />
41.8% (40,081,690)<br />
19.6% (18,758,408)<br />
29.7% (220,877,573)<br />
10.1% (75,000,000)<br />
+100,000 14/08/06<br />
-8,894,845 29/06/04<br />
04/07/06<br />
10/12/03<br />
04/06<br />
227p Last statement 16/05/07.<br />
14.25p Interims were out 29/09/06.<br />
Mark Slater<br />
6.13% (45,894,000)<br />
+3,800,000<br />
16/03/07<br />
RAB Capital<br />
4.61% (34,250,000)<br />
-6,000,000<br />
16/03/07<br />
Games<br />
Workshop (GAW)<br />
Gartmore Smaller<br />
Companies<br />
(GSM)<br />
GCAP Media<br />
(GCAP)<br />
Toys<br />
Investment<br />
Trust<br />
Liberty<br />
Square<br />
Phoenix<br />
Nomad Inv.<br />
Prudential<br />
5.6% (41,770,000)<br />
14.16% (4,405,419)<br />
20.29% (6,314,269)<br />
30.99% (4,300,000)<br />
-570,000<br />
+565,000<br />
+310,500<br />
25/04/07<br />
28/02/07<br />
04/05/07<br />
Bear Stearns 4.54% (630,000) +25,000 10/06<br />
Radio DMG Media 14.36% (23,561,000) 05/06 193p Finals were out 30/05/07.<br />
Georgica (GGA) Leisure North Atlantic<br />
Value<br />
20.58% (20,045,320)<br />
+1,400,000<br />
17/04/07<br />
278p<br />
Last trading statement 03/05/07. (Nomad ex Marathon).<br />
641p NAV 752.9p (06/06/07).<br />
119p<br />
Q1 results were out 02/05/07. Demerging in<strong>to</strong> two companies.<br />
Deutsche<br />
3.23% (3,142,945)<br />
-4,903,571<br />
17/11/06<br />
Man Financial<br />
10.2% (9,938,963)<br />
-2,023,516<br />
17/11/06<br />
Trefick<br />
12.5% (12,180,718)<br />
04/07/06
Strategic stakes and holdings – June 2007<br />
Company Activity Holder Declared stake Last<br />
Date Market Notes<br />
change<br />
Price<br />
Gleeson (MJ)<br />
(GLE)<br />
Building North Atlantic<br />
Value<br />
13.36% (6,931,342) +124,251 20/03/07 406p Interims were out 30/03/07. Family own 30%, staff 9.2%.<br />
Global Coal<br />
Management<br />
(GCM)<br />
Global Gaming<br />
Tech (GGT)<br />
Coal RAB Capital 19.23% (9,379,511) +2m 22/03/07 135p Interims were out 16/03/07. Previously Asia Energy.<br />
Internet<br />
Lansdowne<br />
Partners<br />
3.82% (7,111,791)<br />
21/04/07<br />
0.3p Interims were out 27/04/07.<br />
Goals Soccer<br />
Centres (GOAL)<br />
Gresham<br />
Computing (GHT)<br />
Sports<br />
Data<br />
processing<br />
Corvus 17.19% (43,930,196) +745,990 21/04/07<br />
JO Hambro 6.75% (2,828,000) -525,000 02/07 405p Finals were out 26/02/07.<br />
Capital<br />
JO Hambro 11.71% (5,895,750) +375,000 20/03/07 126p AGM scheduled for 29/06/07.<br />
Hampson<br />
Industries<br />
(HAMP)<br />
Hansteen<br />
Holdings (HSTN)<br />
Engineering Cycladic 3.5% (3,340,000) -1,044,635 03/10/06 167p Finals were out 06/06/07.<br />
Real Estate<br />
Lansdowne<br />
Partners<br />
9.91% (17,675,000) +4,585,000 23/03/07 151p Interims were out 27/07/06.<br />
Hardy<br />
Underwriting<br />
(HDU)<br />
Hartest Holdings<br />
(HTH)<br />
Harvey Nash<br />
(HVN)<br />
Property Phoenix 8.21% (2,913,545) -250,001 17/04/07 285p Omega Holdings can now bid again. Last trading update 24/05/07.<br />
Instruments<br />
Recruitment<br />
Bronsstadet<br />
(Gyllenhamma<br />
r)<br />
Management<br />
Unicorn<br />
Hawtin (HTI) Diversified Chris Hazell<br />
Gracelands<br />
22.1% (188,725,000) +2,000,000 31/01/07 0.7p Interims were out 14/12/06.<br />
33.8%<br />
14.51% (9,663,000) -8,500,000 06/07<br />
6.27% (4,500,000) +200,000 21/03/07<br />
29.75% (21,500,000)<br />
+19,796,000<br />
08/02/06<br />
78p AGM scheduled for 25/06/07.<br />
17p Talks were on, now they are off. Gracelands has maxed <strong>to</strong> 29.9%<br />
by buying large stakes from Portnard and Panther. Finals were out<br />
02/05/07.<br />
Henderson<br />
Group (HGI)<br />
Investment<br />
Alan Fernback<br />
Lansdowne<br />
Partners<br />
12.66% (9,082,183) +50,000 18/04/07<br />
6.02% (54,343,072) +3,771,488 31/05/07 161p Last AGM statement 03/05/07.<br />
Hichens Harrison<br />
(HICH)<br />
Finance<br />
Channel<br />
Hotels &<br />
Props (Kirch)<br />
4.3% (650,000)<br />
-299,000<br />
16/05/07<br />
337p<br />
Finals were out 02/04/07. Sanlam has a Rule 9 waiver.<br />
Sanlam<br />
Financial<br />
32.83% (4,993,078)<br />
+250,000<br />
08/05/06<br />
Adam Wilson<br />
9.94% (1,492,500)<br />
16/05/07<br />
Unicorn<br />
6.91% (1,050,562)<br />
-25,000<br />
25/05/07
Strategic stakes and holdings – June 2007<br />
Company Activity Holder Declared stake Last<br />
Date Market Notes<br />
change<br />
Price<br />
Homeserve (HSV) Services Richard<br />
Harpin<br />
16.91% (10,987,609) +120,120 29/09/06 1789p Finals were out 21/05/07.<br />
Hornby (HRN) Miscellaneous Peter Wood 10.67% (4,013,000) +250,000 05/05 256p Finals were out 01/06/07.<br />
HR Owen (HRO) Retail Trefick<br />
17.54% (4,139,696)<br />
+1,117,797 29/07/05 119p Buyout talks finished 20/11/06. Last AGM statement 23/05/07.<br />
Nicolas<br />
Lancaster<br />
(MD)<br />
ICAP (IAP) Finance Michael<br />
Spencer<br />
19.6% (4,610,000)<br />
21.14%% (136,738,922) +5m 30/05/07 506p Finals were out 23/05/07.<br />
I.D. Data (IDD) Systems RAB Capital 10.5% (125,075,000) +8,740,000 16/03/07 0.75p Interims were out 22/12/06.<br />
Imagination<br />
Technologies<br />
(IMG)<br />
Computers<br />
Saad<br />
Investments<br />
16.02% (34,850,979) +4,465,499 27/04/07 125p Prelims were out 24/05/07.<br />
Imperial Energy<br />
(IEC)<br />
Oil<br />
Peter Levine<br />
(CEO & Ch.)<br />
8.07% (4,081,771)<br />
+19,994 10/11/06<br />
1209p Last update 02/06/07.<br />
Lansdowne<br />
Partners<br />
Strategic stakes and holdings – June 2007<br />
Company Activity Holder Declared stake Last<br />
change<br />
Inditherm (IDM) Electrics Cazenove 27% (13,801,000) +8,000,000<br />
Date<br />
18/01/07<br />
Market Notes<br />
Price<br />
12p Prelims were out 29/03/07. Placed 30m shares at 10p.<br />
Patrick<br />
O’Grady<br />
4% (2,009,536)<br />
-200,000<br />
01/03/05<br />
Inmarsat (ISAT) Satellite Lansdowne<br />
Partners<br />
9.11% (41,660,368) +3,100,000 08/06/06 408p Floated at 245p on 17/06/05. Last AGM statement 08/05/07.<br />
Inspicio (INP)<br />
Commercial<br />
Services<br />
Cycladic<br />
Capital<br />
9% (7,985,136)<br />
18/05/07<br />
185p Finals were out 23/03/07.<br />
Intercontinental<br />
Hotels (IHG)<br />
Interlink Foods<br />
(ITF)<br />
Hotels<br />
Foods<br />
JO Hambro<br />
Ellerman Corp<br />
(Barclay<br />
Brothers)<br />
McCambridge<br />
Group<br />
7.29% (6,436,806) +896,806 20/03/07<br />
8.19% (29,116,245) +2,916,000 26/04/07 1318p Q1 results were out 09/05/07.<br />
9.1% (1,065,000) +25,000 04/05/07 107p Now in takeover talks.<br />
International<br />
Biotechnology<br />
Trust (IBT)<br />
Interquest (ITQ)<br />
Intimas Group<br />
(IAG)<br />
Inv. Trust AstraZeneca 9.38% (6,532,000) 10/04 156p Interims were out 12/04/07.<br />
Human<br />
Resources<br />
Textiles<br />
Luke Johnson<br />
Gary<br />
Ashworth<br />
Nakterhuset<br />
Peter<br />
Gyllenhammr)<br />
13.42% (3,797,033)<br />
43.6% (12,538,000)<br />
12.9% (13,650,000)<br />
+500,000 13/06/06<br />
-100,000<br />
12/05<br />
19/04/07<br />
121p Finals were out 30/03/07.<br />
15p Previously Sherwood Group. Last AGM statement 17/05/07.<br />
Zoar Invest<br />
APS<br />
29.3% (30,900,000)<br />
+1,000,000<br />
17/10/06<br />
Peter O’Reilly<br />
8.74% (9,206,000)<br />
-227,000<br />
03/07<br />
Invesco English<br />
& Int’l (IEI)<br />
Closed end<br />
fund<br />
Friheden<br />
Laxey<br />
Partners<br />
8.5% (9,000,000) +1,000,000 10/04/07<br />
22% (13,474,450) +150,000 01/11/05 367p NAV 401p (06/06). Interims were out 22/12/06.<br />
I.S. Solutions<br />
(ISL)<br />
Networking<br />
Bluehone<br />
S Forward<br />
nil<br />
6.3% (1,565,573)<br />
02/07<br />
09/07/04<br />
19.75p Finals were out 30/03/07.<br />
Southwind<br />
18.9% (4,700,000)<br />
14/11/02<br />
Active Capital<br />
Trust<br />
18.73% (4,562,370)<br />
24/02/07
Strategic stakes and holdings – June 2007<br />
Company Activity Holder Declared stake Last<br />
Date Market Notes<br />
change<br />
Price<br />
Itacare Capital<br />
(ITA)<br />
Investment Lansdowne<br />
Partners<br />
13.79% (12,000,000) 29/05/07 $1.04 Floated 30/05/07.<br />
ITV (ITV) Media BSkyB 17.9% (696,046,825) +696m 17/11/06 115p Last AGM statement 17/05/07.<br />
Jacques Vert<br />
(JQV)<br />
Apparel<br />
Alchemy<br />
Partners<br />
26.3% (50,627,173) 07/04 24.5p Interims were out 12/01/07.<br />
JJB Sports (JJB) Retail Whelan<br />
Family<br />
Harris<br />
Associates<br />
(Herro)<br />
nil<br />
3.98% (9,477,393)<br />
-69m<br />
-200,000<br />
08/06/07<br />
11/04/07<br />
259p<br />
Last trading update 06/06/07. Mike Ashley reported <strong>to</strong> hold 10% via<br />
CFD. HALLCO 1480 is a vehicle for Chris Ronnie and Icelandic<br />
Exista.<br />
Man Financial<br />
3.93% (9,327,720)<br />
-7,193,250<br />
13/11/06<br />
HALLCO 1480<br />
JKX Oil (JKX) Oil UKRGazprom<br />
29.01% (68,992,948)<br />
6.53% (9,957,214)<br />
+69m<br />
-1,822,828<br />
08/06/07<br />
28/01/05<br />
324p Last AGM statement 24/05/07.<br />
John David<br />
Group (JD)<br />
Retail<br />
Glengary<br />
Overseas<br />
John Wardle<br />
David Makin<br />
25.8% (39,312,688)<br />
14.7% (7,019,815)<br />
21.15% (10,082,875)<br />
+14,751,826<br />
19/06/06<br />
05/05<br />
05/05<br />
582p Finals were out 26/04/07.<br />
Pentland<br />
Group (Rubin<br />
family)<br />
57.8% (27,566,256)<br />
+248,344<br />
17/01/06<br />
Sportsworld<br />
International<br />
Jourdan (JDR) Diversified David Abell<br />
(Ch.)<br />
10.4% (4,964,000)<br />
27.82% (901,500)<br />
-86,500<br />
05/06<br />
06/03/07<br />
275p Interims were out 07/03/07.<br />
Amodeo<br />
29.66% (960,900)<br />
+50,000<br />
Keller Group<br />
(KLR)<br />
Engineering<br />
Goosegog<br />
Terratest<br />
(Pedro Lopez<br />
Jiminez)<br />
11.36% (368,000)<br />
07/03/07<br />
5.63% (3,691,985) -900,000 28/04/06 1044p Finals were out 01/03/07.<br />
Kings<strong>to</strong>n<br />
Communications<br />
(KCOM)<br />
Kirkland Lake<br />
Gold (KGI)<br />
Telecoms<br />
Gold<br />
Kings<strong>to</strong>n<br />
upon Hull<br />
Council<br />
Harry Dobson<br />
George Mil<strong>to</strong>n<br />
nil -157.5m 23/05/07 74p Finals were out 22/05/07.<br />
6.64% (3,390,000) +100,000 12/05/06 598p Q3 results were out 16/03/07.<br />
3.52% (1,921,941) +5,300 03/05/07
Strategic stakes and holdings – June 2007<br />
Company Activity Holder Declared stake Last<br />
change<br />
Date<br />
Lambert Howarth Footwear North Atlantic 13.06% (2,662,000) +170,000 13/06/06<br />
(LMBT)<br />
Intrinsic Value 4.9% (1,000,000)<br />
18/07/06<br />
Market Notes<br />
Price<br />
28p Finals were out 01/05/07.<br />
Landore<br />
Resources (LND)<br />
Minerals<br />
International<br />
Marketmakers<br />
Consolidated<br />
Press Group<br />
(Packer)<br />
9.07% (1,850,000)<br />
23/01/07<br />
17.5% (21,285,740) 17/04/07 19p Last drilling update 05/06/07.<br />
Lavendon (LVD) Rental Au<strong>to</strong> Steel Partners<br />
II<br />
Strategic stakes and holdings – June 2007<br />
Company Activity Holder Declared stake Last<br />
change<br />
Lorien (LRG) Human Southwind 40.3% (7,500,860) +3,390,860<br />
Resources<br />
Electra Active 7.34% (1,367,324) +1,367,324<br />
Date<br />
12/01/07<br />
02/02/06<br />
Market<br />
Price<br />
87p<br />
Notes<br />
Subject <strong>to</strong> a manda<strong>to</strong>ry offer at 40p per share.<br />
Third Advance<br />
6.44% (1,200,000)<br />
+1,200,000<br />
11/01/06<br />
Low & Bonar<br />
(LWB)<br />
Plastics Schroder<br />
JO Hambro<br />
Mallett (MAE) Auction <strong>House</strong> Trefick Ltd<br />
9.752% (14,950,000)<br />
3.8% (5,826,423)<br />
7.63% (1,052,730)<br />
-3.3m<br />
-4.7m<br />
-3,000,000<br />
06/04/07<br />
01/05/07<br />
27/03/06<br />
140p Last trading statement 04/06/07.<br />
210p<br />
Last AGM 06/06/07. 63p return of capital.<br />
Laura<br />
Weins<strong>to</strong>ck<br />
29.9% (4,130,000)<br />
Manganese<br />
Bronze (MNGS)<br />
Au<strong>to</strong>s<br />
Aliianz<br />
Toscafield<br />
(Martin<br />
Hughes)<br />
24.62% (3,397,600)<br />
27.7% (5,340,000)<br />
+3,397,600<br />
30/03/06<br />
09/06<br />
885p Interims were out 06/03/07.<br />
Morgan<br />
Stanley<br />
3.88% (748,189) -40,705<br />
23/05/07<br />
Marchpole<br />
Holdings (MPH)<br />
Retail<br />
Michael<br />
Morris<br />
19.25% (26,191,715)<br />
+200,000<br />
19/07/06<br />
185p Prelims due 28/06/07.<br />
Marylebone<br />
Warwick Balfour<br />
(MWB)<br />
Real Estate<br />
Man Financial<br />
Active Value<br />
4.71% (1,281,146)<br />
31% (25,000,000)<br />
-150,000<br />
-1,000,000<br />
22/02/07<br />
22/02/06<br />
Mercury Real 14.72% (11,852,980) +1,040,900 13/12/06<br />
Estate<br />
McBride (MCB) Soap JO Hambro 4.13% (7,311,705) +1,567,415 22/09/06 260p Interims were out 12/02/07.<br />
Mecom (MEC) Investment Lansdowne 9.96% (145,598,415) 12/04/07 89p Finals were out 30/03/07.<br />
282p<br />
Finals were out 21/03/07. MWB owns 68.3% of Liberty (AIM) and<br />
61.9% MWB Business Exchange.<br />
Media Square<br />
(MSQ)<br />
Melrose<br />
Resources (MRS)<br />
Meridian<br />
Petroleum (MRP)<br />
Micro Focus<br />
International<br />
(MCRO)<br />
Midas Income<br />
and Growth<br />
(MIGT)<br />
Advertising Promethean 7.18% (23,360,000) +14,010,000 18/10/06 11.75p Prelims due 27/06/07.<br />
Oil<br />
Oil<br />
Software<br />
Robert Adair<br />
(Ch.)<br />
Tony Mason<br />
(CEO)<br />
Golden Gate<br />
51.8% (56,796,000) 04/07 337p Last drilling update 03/05/07.<br />
31% (24,700,000) 16.75p Last update 30/04/07. Placed 7.2m shares at 14p on 20/02/06.<br />
42.04% (84,026,000)<br />
-30m 10/01/07<br />
276p Prelims due 28/06/07.<br />
Lansdowne
Strategic stakes and holdings – June 2007<br />
Company Activity Holder Declared stake Last<br />
change<br />
Date<br />
Miles<strong>to</strong>ne Group Radio<br />
Landfinance 28.27% (7,803,906) +1,500,000 02/10/06<br />
(MSG)<br />
Ltd (BVI)<br />
Market Notes<br />
Price<br />
3.5p Landfinance is part of Guyzeller Bank, British Virgin islands based.<br />
Last AGM statement 09/03/07.<br />
Mitchells &<br />
Butlers (MAB)<br />
Retail<br />
Elliott<br />
International<br />
Violet Capital<br />
(Tchenguiz)<br />
Molins (MLIN) Machinery Redbird<br />
Holdings<br />
Monsoon (MSN) Retail Family<br />
22.95% (6,337,000)<br />
3% (12,105,318)<br />
11.87% (47,894,682)<br />
CFD<br />
10/04<br />
26/01/07 849p Interims were out 22/05/07. Tchenguiz is believed <strong>to</strong> have a 15%<br />
holding through CFD. He has dropped his 550p per share bid.<br />
Strategic stakes and holdings – June 2007<br />
Company Activity Holder Declared stake Last<br />
change<br />
Newcastle United Sports<br />
Shepherd nil<br />
-37.2m<br />
(NCU)<br />
Brothers<br />
Date<br />
07/06/07<br />
Market<br />
Price<br />
99p<br />
Notes<br />
Subject <strong>to</strong> an agreed offer from Mike Ashley at 101p/share.<br />
Wynyard (Sir<br />
John Hall)<br />
nil<br />
-36.6m<br />
23/05/07<br />
New Star Asset<br />
(NSAM)<br />
Investment<br />
Management<br />
Mike Ashley<br />
Lansdowne<br />
Partners<br />
69.6% (92.5m)<br />
+37.2m 07/06/07<br />
3.2% (9,384,777) +1,240,000 09/05/07 490p Last AGM statement 24/05/07.<br />
Nord Anglia<br />
Education (NAE)<br />
Schools<br />
Principle<br />
Capital (Julian<br />
Myerson)<br />
25.83% (10,293,187) +674,131 31/05/07 320p Interims were out 01/05/07. Subject <strong>to</strong> recent failed bid approach.<br />
North American<br />
Banks (NAM)<br />
Northern<br />
European<br />
Properties<br />
(NEPR)<br />
Closed-End North Atlantic 23.73% (901,739) +80,000 21/05/07 482p AGM due 22/06/07.<br />
Real Estate<br />
Lansdowne<br />
Partners<br />
Man Financial<br />
9.16% (43,584,775)<br />
3.96% (18,847,082)<br />
+3,700,000 15/05/07<br />
06/06/07<br />
EUR1.25 Last portfolio update 16/02/07.<br />
Numis (NUM) Finance Staff<br />
60%<br />
319p Interims were out 02/05/07.<br />
NWF Group<br />
(NWF)<br />
Distribution<br />
Intercapital<br />
Private<br />
(Michael<br />
Spencer)<br />
Fjarfestingarfe<br />
lagio (A<strong>to</strong>rka)<br />
10.99% (11,682,376) +154,174 12/02/07<br />
20.25%% (1,851,000) +107,500 20/02/07 1010p Interims were out 31/01/07.<br />
Oakdene Homes<br />
(OKD)<br />
Building<br />
Nigel Wray<br />
Carl Turpin<br />
(CEO)<br />
15.45% (6,234,967)<br />
8.32% (3,354,923)<br />
+875,000<br />
-1,000,000<br />
12/05/07<br />
11/01/07<br />
194p Recently bought Honeygrove. Last AGM statement 05/06/07.<br />
Oriel Resources<br />
(ORI)<br />
Gold<br />
JO Hambro<br />
RAB Capital<br />
Polyprom<br />
4.01% (1,653,462)<br />
5.67% (35,996,461)<br />
19.6% (124,486,000)<br />
+202,654<br />
-2.5m<br />
05/06/07<br />
22/03/07<br />
12/06<br />
58p<br />
Recent private placing of 56m shares.<br />
Eanermoon<br />
17.7% (112,300,292)<br />
+56m<br />
09/06/07<br />
Oxford Catalysts<br />
(OCG)<br />
Energy<br />
IP2IPO<br />
Lansdowne<br />
Partners<br />
28.67% (10,706,061)<br />
9.84% (3,674,586)<br />
-150,000<br />
+567,977<br />
18/01/07<br />
10/04/07<br />
125p Prelims were out 26/03/07.
Strategic stakes and holdings – June 2007<br />
Company Activity Holder Declared stake Last<br />
Date Market Notes<br />
change<br />
Price<br />
Oxonica (OXN) Medical Richard<br />
Farleigh<br />
15.5% (7,029,000) 03/06 31p Last trading update 06/06/07.<br />
Oxus Gold (OXS) Minerals RAB Capital 29.01% (88,979,020) +11,231,000 23/03/07 57p Interims were out 02/04/07.<br />
Parity Group<br />
(PTY)<br />
Park Group<br />
(PKG)<br />
Parkwood<br />
Holdings (PKW)<br />
Computer<br />
Services<br />
Financials<br />
Commercial<br />
Services<br />
North Atlantic 5.95% (2,257,074) 02/05/07 83p Finals were out 14/03/07.<br />
Peter Johnson<br />
(Ch. &<br />
founder)<br />
Anthony<br />
Hewitt<br />
57.66% (94,648,325) 14/03/07 19.75p Last trading update 28/03/07.<br />
56.5% (11,070,000) +110,000 10/06 123p Prelims were out 12/03/07.<br />
Penna<br />
Consulting (PNA)<br />
Human<br />
Resources<br />
Stephen<br />
Rowlinson<br />
(Ch.)<br />
23.2% (5,863,222)<br />
+94,722<br />
02/03/06<br />
87p Finals were out 07/06/07.<br />
Susan<br />
Mumme<br />
13.3% (3,369,640)<br />
+21,500<br />
13/07/05<br />
Jeremy<br />
Hosking<br />
14% (3,548,184)<br />
+109,719<br />
17/11/06<br />
Pennon (PNN) Water Lansdowne<br />
Partners<br />
Strategic stakes and holdings – June 2007<br />
Company Activity Holder Declared stake Last<br />
change<br />
Pho<strong>to</strong>-Me<br />
Pho<strong>to</strong><br />
Serge<br />
19.57% (71,143,000)<br />
International equipment Crasnianski<br />
(PHTM)<br />
Steel Partners 11.26% (41,191,300) +2,800,000<br />
Date<br />
28/10/04<br />
15/03/07<br />
Market Notes<br />
Price<br />
76p Last trading statement 02/03/07.<br />
Pelo<strong>to</strong>n<br />
Partners<br />
6.645% (24,153,938)<br />
14/07/06<br />
OZ Capital<br />
Strategic stakes and holdings – June 2007<br />
Company Activity Holder Declared stake Last<br />
change<br />
Prodesse<br />
Funds<br />
Laxey<br />
14.93% (4,205,000) +400,000<br />
Investment (PRD)<br />
Partners<br />
Date<br />
01/05/07<br />
Market Notes<br />
Price<br />
447p NAV $8.04 (31/05/07).<br />
Polygon<br />
21.46% (5,500,000)<br />
+1,100,000<br />
19/03/07<br />
Prosperity<br />
Minerals (PMHL)<br />
Aggregates David Wong 27.5% (35,497,005) +2,117,300 13/09/06 156p Q3 results were out 13/03/07.<br />
Proteome<br />
Sciences (PRM)<br />
Medical<br />
CACI<br />
Man Financial<br />
7% (9,206,199)<br />
7% (9,200,701)<br />
+43,647<br />
+1,312,000<br />
09/05/07<br />
10/02/07<br />
53.5p Interims were out 28/09/06.<br />
Sanofi Aventis<br />
11.4% (14,982,811)<br />
-1,402,000<br />
15/05/07<br />
Protherics (PTI) Medical AstraZeneca 3.24% (10,990,621) 25/01/06 59p Finals were out 05/06/07.<br />
Proximagen<br />
Neuroscience<br />
(PRX)<br />
PSG Solutions<br />
(PGS)<br />
Medical Lansdowne 7.59% (1,520,000) 03/06 90p Last AGM statement 19/04/07.<br />
Investment<br />
Southwind<br />
(Bob Mor<strong>to</strong>n)<br />
12.93% (3,475,768)<br />
+1.1m 15/01/07<br />
71p<br />
Stake in Croma. Recent placing of 8m shares at 50p. Formerly<br />
London & Bos<strong>to</strong>n. Interims were out 14/11/06.<br />
Julie Hester<br />
10.24% (2,752,970)<br />
Gary Hester<br />
10.24% (2,752,000)<br />
Punch Taverns<br />
(PUB)<br />
Pubs<br />
Wheddon<br />
Lansdowne<br />
Partners<br />
9.4% (2,525,000)<br />
6% (15,981,978)<br />
+2,380,000<br />
09/05<br />
06/03/07<br />
1257p Last AGM statement 24/01/07.<br />
Alliance<br />
Capital<br />
14.8% (39,278,874) -118,580 27/02/06<br />
Pure Wafer (PUR) Commercial Apax Partners 49.9% (13,247,000) 09/06 327p Interims were out 28/02/07.<br />
Services<br />
Qinetiq (QQ/) Research Lansdowne 9.05% (59,750,251) +7,000,000 14/03/07 198p Finals were out 31/05/07.<br />
Partners<br />
Carlyle Group<br />
10.3% (67,766,766)<br />
-250,000<br />
17/02/07<br />
UK Ministry of<br />
Defence<br />
Quar<strong>to</strong> (QRT) Publishing JO Hambro<br />
19% (125,582,000)<br />
19.99% (4,087,568)<br />
-6,000<br />
06/06<br />
19/03/07<br />
185p Last AGM statement 02/05/07.<br />
Ennismore<br />
3.96% (810,000)<br />
+185,000<br />
03/07<br />
Laurence<br />
Orbach<br />
14.23% (2,909,185)<br />
+10,000<br />
29/12/06
Strategic stakes and holdings – June 2007<br />
Company Activity Holder Declared stake Last<br />
change<br />
Quintain Estates Real Estate Taube Hodson 9.14% (11,842,000)<br />
& Dev. (QED)<br />
S<strong>to</strong>nex<br />
Date<br />
05/06<br />
Market Notes<br />
Price<br />
760p Prelims due 13/06/07.<br />
Man Financial<br />
Strategic stakes and holdings – June 2007<br />
Company Activity Holder Declared stake Last<br />
change<br />
Renold (RNO) Machinery Steel Partners
Strategic stakes and holdings – June 2007<br />
Company Activity Holder Declared stake Last<br />
change<br />
Scapa (SCPA) Manufacturing Silchester 12.61% (18,252,760) -100,000<br />
Date<br />
29/11/04<br />
Market Notes<br />
Price<br />
25p Finals were out 07/06/07.<br />
Sherborne<br />
Inves<strong>to</strong>rs<br />
nil<br />
-6,675,000<br />
23/04/07<br />
Schroders (SDR)<br />
SCi<br />
Entertainment<br />
(SEG)<br />
Inv.<br />
Management<br />
Entertainment<br />
Cazenove<br />
Family<br />
Harris Assoc.<br />
Warner Bros.<br />
Can<strong>to</strong>r<br />
10.08% (14,594,846) +601,007 25/05/07<br />
47%<br />
8.03% (18,145,800) +200,000 26/03/07<br />
10.3% (8,860,897) +8,860,897 15/12/06<br />
4.93% (4,250,121) -316,905 19/03/07<br />
1309p Last trading statement 01/05/07<br />
509p<br />
Interims were out 29/03/07. Thorson is a Tchenguiz vehicle.<br />
Scottish &<br />
Newcastle<br />
(SCTN)<br />
Serviced Office<br />
Group (SVO)<br />
Brewing<br />
Investment<br />
Thorson<br />
Investments<br />
Trevor<br />
Hemmings<br />
Peter O’Reilly<br />
Tickgold<br />
17.38% (13,413,073)<br />
22/11/06<br />
Strategic stakes and holdings – June 2007<br />
Company Activity Holder Declared stake Last<br />
change<br />
SMG (SMG) Television Granada 16.8% (53,019,000)<br />
Media (ITV)<br />
Date<br />
04/06<br />
Market Notes<br />
Price<br />
62p Last AGM statement 25/05/07.<br />
Soco<br />
International<br />
(SIA)<br />
Oil<br />
Hanover<br />
Lansdowne<br />
Partners<br />
Pon<strong>to</strong>il<br />
Intetrade<br />
12.59% (39,776,518)<br />
6.74% (4,901,549)<br />
20.49% (14,904,465)<br />
-161,675<br />
+201,152<br />
20/02/07<br />
24/03/07<br />
24/03/07<br />
1800p Last drilling report 04/06/07.<br />
Spirent (SPT) Telecomms Lexa BV<br />
5.67% (50,000,000)<br />
-40,400,000<br />
22/05/07<br />
75.25p Last AGM 09/05/07. Sherborne is related <strong>to</strong> Hanover Inves<strong>to</strong>rs.<br />
Sherborne<br />
Inves<strong>to</strong>rs<br />
14.71% (130,270,000)<br />
+20,000<br />
15/03/07<br />
Stagecoach<br />
(SGC)<br />
Standard<br />
Chartered (STAN)<br />
Transport<br />
Banks<br />
Brian Souter<br />
Ann Gloag<br />
Temasek<br />
Holdings<br />
(Nortrust)<br />
14.2% (156,104,709)<br />
10.8% (118,029,172)<br />
13.3% (186,471,559)<br />
+86,058<br />
+78,207<br />
+20,321,000<br />
28/12/06<br />
28/12/06<br />
01/06/07<br />
171p Last trading statement 14/03/07.<br />
1628p<br />
Temasek has bought the shares of the estate of the late Tan Sri<br />
Khoo Tek. Last AGM statement 03/05/07.<br />
Istithmar<br />
2.7%<br />
+2.7%<br />
06/10/06<br />
Star Energy<br />
(STAR)<br />
Oil<br />
Petronas<br />
Tudor Capital<br />
19.5% (18,131,000)<br />
5.92% (5,502,326)<br />
+3,000,000<br />
-2,220,000<br />
03/07<br />
19/03/07<br />
222p Last update 02/04/07.<br />
CSFB<br />
14.22% (13,223,890)<br />
+999,421<br />
05/04/07<br />
Lansdowne<br />
Partners<br />
6.67% (6,201,796)<br />
22/03/07<br />
Stylo (STYL) Retail Michael A Ziff 76.7% of votes +40,000 20/10/06 74p Family run company with valuable freeholds. NAV 98.3p per share,<br />
net debt £40.9m. 2 tier voting structure. Trefick bought out at 60p.<br />
200 Barrett s<strong>to</strong>res, 174 Priceless. Finals were out 26/04/07.<br />
Summit Germany Investment Trefick<br />
6.71% (10,400,000) +2,850,000 29/01/07 €1.31 Finals were out 28/03/07.<br />
(SGL)<br />
Savannah- 8.82% (13,669,597)<br />
03/05/07<br />
Baltimore<br />
Superscape Virtual Reality ARM Holdings 8.12% (14,777,000) 03/06 10.25p Finals were out 20/04/07.<br />
(SPS)<br />
Sut<strong>to</strong>n Harbour<br />
Holdings (SUH)<br />
Warehousing<br />
Ro<strong>to</strong>lok<br />
Holdings<br />
M E Winser<br />
(Chairman)<br />
29.8% (7,283,000)<br />
7.29% (1,771,000)<br />
+87,000<br />
+250,931<br />
03/02/02<br />
01/07/04<br />
293p<br />
Ro<strong>to</strong>lok MD Dan McLauley says no firm intentions <strong>to</strong> bid, he has<br />
built up the holding over six years after a failed approach <strong>to</strong> sit on<br />
the board. Sut<strong>to</strong>n is changing direction and setting up a regional<br />
airline. Was subject <strong>to</strong> a bid approach from a £5m recently listed<br />
AIM company, believed <strong>to</strong> be Conygar Investment. Finals were out<br />
24/05/07.
Strategic stakes and holdings – June 2007<br />
Company Activity Holder Declared stake Last<br />
Date Market Notes<br />
change<br />
Price<br />
Tanfield (TAN) Machinery Lansdowne 5.97% (17,504,127) -2,855,000 07/06/07 153p Prelims were out 26/03/07.<br />
Tarsus (TRS) E-commerce Clive Smith 3.57% (2,105,856) -250,000 16/11/05 227p Last AGM statement 18/04/07.<br />
Neville Buch<br />
19.9% (12,059,393)<br />
20/04/07<br />
Luxrule 4.3% (2,601,481)<br />
23/06/05<br />
Ted Baker (TBK) Apparel Ray Kelvin 39.4% (16,537,276) -200,000 24/01/07 573p Prelims were out 21/03/07.<br />
Telecom Plus<br />
(TEP)<br />
Telecoms<br />
Charles<br />
Wigoder<br />
23.3% (15,944,041)<br />
+15,000<br />
07/06/06<br />
195p Finals were out 05/06/07. Npower has options <strong>to</strong> buy up <strong>to</strong> 29%<br />
stake in 2009 inc. Wigoder’s stake, based on earnings formula.<br />
Npower<br />
28.8% (19,857,711)<br />
+2,982,500<br />
24/03/06<br />
Telit Comms<br />
(TCM)<br />
Wireless<br />
North Atlantic<br />
Polar Inv.<br />
5.06% (3,489,102)<br />
52.2% (22,556,785)<br />
-221,000<br />
+60,000<br />
02/04/07<br />
06/12/05<br />
52p Last AGM 29/05/07.<br />
Oozi Cats (inc.<br />
Boostt)(CEO)<br />
34.25% (14,800,357) +50,000 24/05/07<br />
Tellings Golden Transport Julian Peddle 21.03% (4,826,000) 10/06 26.5p Prelims were out 03/04/07.<br />
Miller (TGM)<br />
Telspec (TSP) Telecomms Gyllenhammar 12.1% (4,910,500) +50,000 23/02/07 6.63p Finals were out 27/03/07. Nearly GBP4m in cash.<br />
Tenon Group<br />
(TNO)<br />
Consulting<br />
Faraday<br />
Holdings<br />
Southwind<br />
(Bob Mor<strong>to</strong>n)<br />
42% (17,000,000)<br />
8.03% (13,375,000)<br />
03/06<br />
+1,100,000 12/05<br />
61p Interims were out 09/03/07.<br />
Cazenove<br />
Capital<br />
9.06% (15,100,354)<br />
24/01/07<br />
TG21 (TGP) Electronics Gyllenhammar 11.07% (9,045,344) +100,000 05/06/07 6.13p Last AGM statement 22/05/07.<br />
Theo Fennell Retail<br />
Direc<strong>to</strong>rs 71%<br />
151p Theo holds 17.8%. Finals were out 04/06/07.<br />
(TFL)<br />
JO Hambro 7.53% (1,224,192) 13/11/06<br />
Thomas Walker Metal<br />
Thomas 20.8% (1,280,000)<br />
53.5p Interims were out 05/03/07.<br />
(WKT)<br />
Processors Walker<br />
Thomson<br />
Intermedia (THN)<br />
Internet<br />
Value<br />
Investments<br />
(Barry)<br />
Steve<br />
Thomson<br />
3.1% (190,799) +16,000 02/02/06<br />
20.7% (6,482,393) -800,000 26/01/05<br />
110p Second interims were out 30/04/07.<br />
Sarah<br />
Thomson<br />
20.7% (6,482,394)<br />
-800,000<br />
26/01/05<br />
Herald<br />
10.18% (3,186,060)<br />
-100,000<br />
22/03/07<br />
Eaglet<br />
6.58% (2,058,523)<br />
-514,889<br />
03/05/07
Strategic stakes and holdings – June 2007<br />
Company Activity Holder Declared stake Last<br />
Date Market Notes<br />
change<br />
Price<br />
Tinopolis (TIN) Investment North Atlantic 5.7% (5,400,000) -142,540 20/03/07 37p Finals were out 12/12/06.<br />
Town Centre<br />
Securities<br />
(TCSC)<br />
Trans-Siberian<br />
Gold (TSG)<br />
Real Estate Ziff family 39% 522p Arnold Ziff is Chairman, his son Edward CEO. The company has<br />
bought back 50% of its shares in the last four years. Interims were<br />
out 08/03/07.<br />
Gold Mining RAB Capital 9.7% (3,991,058) +425,000 04/05/05 43.5p Last AGM statement 18/10/06.<br />
Anglogold<br />
Ashanti<br />
29.8% (12,263,000)<br />
06/06<br />
Trinity Capital<br />
(TRC)<br />
Real Estate<br />
UFG Private<br />
Equity<br />
QVT<br />
GLG<br />
25% (10,291,000)<br />
11.69% (27,102,000)<br />
Strategic stakes and holdings – June 2007<br />
Company Activity Holder Declared stake Last<br />
Date Market Notes<br />
change<br />
Price<br />
Urals Energy<br />
(UEN)<br />
Oil<br />
Lansdowne<br />
Partners<br />
6.46% (7,720,000) 02/05/07 378p Prelims were out 30/04/07.<br />
Uruguay Mineral<br />
Exp (UGY)<br />
Minerals Paul Curtis<br />
Saad<br />
Investments<br />
Vas<strong>to</strong>x (VOX) Medical Lansdowne<br />
Partners<br />
3.09% (1,326,500) +35,000 28/01/05 187p Q3 results were out 12/04/07.<br />
9.06% (4,179,400)<br />
28/04/05<br />
11.46% (4,265,000) +2,145,000 22/03/06 128p Finals were out 29/05/07.<br />
Vedanta<br />
Resources (VED)<br />
Metals<br />
Agarwal<br />
(Volcan)<br />
53.6% (154,157,921) 01/03/06 1465p Finals were out 16/05/07.<br />
Vislink (VLK) Broadcast Bob Mor<strong>to</strong>n 3.6% (4,981,000) 03/05 79.5p Last trading statement 23/05/07.<br />
Vitesse Media<br />
(VIS)<br />
Media<br />
Bob Mor<strong>to</strong>n<br />
Sara Williams<br />
Volex (VLX) Electric Cycladic<br />
Capital<br />
14.39% (1,870,000)<br />
38.273% (8,002,894) +146,150<br />
22.2% (12,587,610) +200,000<br />
10/01/02<br />
08/03/07<br />
21/07/06<br />
35p Interims were out 17/10/06.<br />
163p Prelims were out 11/06/07.<br />
Sterling<br />
Investment<br />
(Tettamanti)<br />
10.1% (5,722,016)<br />
-1,300,000<br />
08/05/07<br />
Goldman<br />
17.15% (9,723,609)<br />
+473,262<br />
10/05/07<br />
Bear Stearns<br />
VP (VP) Rental Jeremy<br />
Pilking<strong>to</strong>n<br />
(Ackers)<br />
VTR (VTR) Multimedia Peter Cundill<br />
North Atlantic<br />
9.47% (5,370,000) +200,000 13/03/07<br />
51.28% (23,685,000) 377p Jeremy Pilking<strong>to</strong>n is Chairman and CEO. Finals were out 07/06/07.<br />
3.96% (1,100,000) +50,000 13/11/03 43.5p Placing 12m shares at 35p. Last AGM statement 24/05/07.<br />
6.48% (1,798,000)<br />
Mark Dixon<br />
(Mr & Mrs)<br />
7.03% (1,952,800)<br />
+10,000<br />
16/01/06<br />
Warner Estates<br />
(WNER)<br />
Real Estate<br />
ACC<br />
Industries<br />
Trefick Ltd<br />
3.06% (850,700)<br />
13.34% (7,483,027)<br />
29/08/06<br />
+126,804 23/04/07<br />
695p Prelims due 19/06/07.<br />
Henry Warner 16.9% (9,489,000)<br />
06/06<br />
Whatman (WHM) Filtration JO Hambro 4.83% (6,332,500) -927,500 08/06/06 287p Last AGM statement 24/05/07.
Strategic stakes and holdings – June 2007<br />
Company Activity Holder Declared stake Last<br />
Date Market Notes<br />
change<br />
Price<br />
Whitbread (WTB) Retail Credit<br />
Agricole<br />
8.38% (16,546,235) +858,123 03/05/07 1754p The Credit Agricole stake is reported <strong>to</strong> represent a CFD held with<br />
the Reuben Brothers.<br />
Starwood 3%<br />
Wichford (WICH) Investment JO Hambro 7.07% (6,882,824) -1,723,533 20/03/07 192p Interims were out 23/05/07.<br />
Robert Wiseman<br />
(RWD)<br />
Dairy products<br />
Alan Wiseman<br />
(Ch.)<br />
Robert<br />
Wiseman<br />
17.3% (12,531,314)<br />
19.6% (14,189,896)<br />
-1,500,000<br />
-250,000<br />
10/01/07<br />
12/12/06<br />
503p Finals were out 14/05/07.<br />
Woolworths<br />
(WLW)<br />
First Milk 15.7% (11,332,197) +11,332,197 17/11/04<br />
Retail Baugur 10.02% (146,000,000) +15,125,000 23/03/06 27.25p Last trading statement 06/06/07.<br />
Wynnstay Group<br />
(WYN)<br />
Agricultural<br />
Laxey<br />
Partners<br />
Xstrata (XTA) Minerals Glencore/CSF<br />
B<br />
York Pharma Medical Saad<br />
(YRK)<br />
Investments<br />
6.38% (752,153) 10/02/06 247p Last AGM statement 20/03/07.<br />
34.66% (336,801,000) 26/01/07 2858p Last AGM statement 08/05/07.<br />
10.35% (3,310,629) +277,296 30/05/07 135p Interims were out 24/04/07.<br />
Nigel Wray 3.67% (1,174,059) +340,000 27/04/07<br />
Young & Co’s Brewing GPG 10.23% (743,491) +12,500 03/07 3384p Finals were out 31/05/07.<br />
Brewery (YNGA)<br />
ZincOx (ZOX) Metals Teck Comino 11.5%<br />
+2,040,690 12/12/06 355p<br />
Finals were out 29/05/07. Teck (world’s second largest zinc miner)<br />
has warrants that could increase its stake <strong>to</strong> 15%.<br />
Hoegh Capital 9.07% (4,428,822)<br />
12/04/07<br />
Zotefoams (ZTF) Chemicals Alveo AG 9.56% (3,465,762)<br />
07/03/03 112p Last AGM statement 10/05/07.<br />
(Sekisui<br />
Chemical)<br />
Liontrust<br />
11.1% (4,029,608) +200,000<br />
03/05/05
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