Sandell Asset Management Europe Limited
LSE : TTM

March 05, 2012 12:32 ET

Form 8.3 - Canaccord Financial Inc

                                                                                                 2
                                                                                          FORM 8.3
                                                 
                     PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
              A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
  AND AMENDMENT OF SECTIONS 2(a) AND 3(a) &(b) OF REPORTS FILED ON 22/12/11, 23/12/11, 29/12/11,
                                4/1/12, 5/1/12, 6/1/12 AND 10/1/12
                            Rule 8.3 of the Takeover Code (the "Code")
                                                 
1.      KEY INFORMATION

(a)Identity of the person whose positions/dealings are being    Sandell Asset Management Corp.
disclosed:
(b)Owner or controller of interests and 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 whose relevant        Canaccord Financial Inc
securities this form relates:
   Use a separate form for each offeror/offeree
(d)If an exempt fund manager connected with an                  
offeror/offeree, state this and specify identity of
offeror/offeree:
(e)Date position held/dealing undertaken:                       2 March 2012.
                                                             In addition Sandell has dealt on the
                                                             previous dates as displayed in the
                                                             table attached below.
(f)Has the discloser previously disclosed, or are they today    Yes, Collins Stewart Hawkpoint Plc
disclosing, under the Code in respect of any other party     
to this offer?

2.      POSITIONS OF THE PERSON MAKING THE DISCLOSURE

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

Class of relevant security:                                       Common

                                                 Interests                  Short positions

                                               Number           %           Number            %
(1)Relevant securities owned and/or                                         473,749         0.56%
controlled:
(2)Derivatives (other than options):                                        27,762          0.03%
                                                                                               
(3)Options and agreements to                                                                      
purchase/sell:
                                                                                               
   TOTAL:                                                                   501,511         0.59%

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).

(b)     Rights to subscribe for new securities (including directors' and other executive options)

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

3.      DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

(a)     Purchases and sales

  Class of relevant           Purchase/sale        Number of securities         Price per unit
       security                     
   Common                         Sale                     83,500                   576.92p
                         

(b)     Derivatives transactions (other than options)

Class of relevant      Product            Nature of dealing           Number of     Price per unit
    security         description        e.g. opening/closing a        reference
                      e.g. CFD           long/short position,        securities
                                        increasing/reducing a
                                         long/short position
                                                                                    
                                                                                    

(c)     Options transactions in respect of existing securities

(i)     Writing, selling, purchasing or varying

Class of      Product        Writing,       Number of    Exercise       Type      Expiry      Option
relevant    description     purchasing,    securities   price per       e.g.       date       money
security     e.g. call       selling,       to which       unit      American,                paid/
              option       varying etc.      option                   European               received
                                             relates                    etc.                 per unit
                                                                                            

(ii)    Exercising

  Class of relevant        Product description     Number of securities       Exercise price per
       security             e.g. call option                                         unit
                                                                            
                                                                            

(d)     Other dealings (including subscribing for new securities)

 Class of relevant           Nature of dealing                Details          Price per unit (if
      security         e.g. subscription, conversion                               applicable)
                                                                               
                      

The currency of all prices and other monetary amounts should be stated.

Where  there  have been dealings in more than one class of relevant securities of the  offeror  or
offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class
of relevant security dealt in.

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 person making the disclosure and any party to the offer or any person
acting in concert with a party to the offer:
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 person
making the disclosure 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

Is a Supplemental Form 8 (Open Positions) attached?                                     NO


Date of disclosure:                               5 March 2012
Contact name:                                     Richard Gashler
Telephone number:                                 1-212-603-5812

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.

Amendments

     Date of        Class of relevant     Purchase/sale         Number of         Price per unit
   Transaction           security                               securities
22/12/11            Common              sale                5,104                446.53p
22/12/11            Common              sale                125,300              447.06
23/12/11            Common              sale                3,630                450.82
23/12/11            Common              sale                84,000               460.87
29/12/11            Common              sale                67,900               467.82
4/1/12              Common              sale                17,061               487.67
5/1/12              Common              sale                22,682               491.92
5/1/12              Common              sale                5,445                488.72
6/1/12              Common              sale                1,452                492.90
10/1/12             Common              sale                5,191                505.42

(b)     Derivatives transactions (other than options)

   Date of        Class of        Product         Nature of dealing       Number of      Price per
 Transaction      relevant      description     e.g. opening/closing a    reference         unit
                  security       e.g. CFD        long/short position,     securities
                                                increasing/reducing a
                                                 long/short position
22/12/11         Common        swap            Increasing a short        9,451          443.87
                                                                                        
23/12/11         Common        swap            Increasing a short        6,187          465.84
29/12/11         Common        swap            Increasing a short        4,706          468.64
4/1/12           Common        swap            Increasing a short        1,090          488.39
5/1/12           Common        swap            Increasing a short        1,507          489.12
10/1/12          Common        swap            Increasing a short        1,017          510.35


Contact Information

  • Sandell Asset Management Europe Limited