Arrowgrass Capital Partners LLP
LSE : TTM

February 06, 2012 11:20 ET

Form 8.3 - Xstrata Plc

                                                                                                  FORM 8.3
                                                 
                     PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
              A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
                                                 
                            Rule 8.3 of the Takeover Code (the "Code")
                                                 
1.      KEY INFORMATION

(a) Identity of the person whose positions/dealings are       Arrowgrass Capital Partners LLP
    being disclosed:
(b) Owner or controller of interests and short positions      N/A
    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     Xstrata Plc
    securities this form relates:
    Use a separate form for each offeror/offeree
(d) If an exempt fund manager connected with an offeror/      N/A
    offeree, state this and specify identity of offeror/
    offeree:
(e) Date position held/dealing undertaken:                    02 February 2012
(f) Has the discloser previously disclosed, or are they       Yes, Glencore International Plc
    today 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:                                          USD 0.5 ordinary

                                                              Interests          Short positions

                                                           Number         %       Number       %
(1)Relevant securities owned and/or controlled:                                                  
(2)Derivatives (other than options):                         1,015,627      0.03                   
(3)Options and agreements to purchase/sell:                                          108,000     0.00
   TOTAL:                                                    1,015,627      0.03     108,000     0.00



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:

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 security      Purchase/sale      Number of securities        Price per unit
                                       
                                                                             
                                                                             
                                                                             

(b)     Derivatives transactions (other than options)

 Class of relevant        Product             Nature of dealing         Number of      Price per
      security          description        e.g. opening/closing a       reference        unit
                          e.g. CFD          long/short position,        securities
                                            increasing/reducing a
                                             long/short position
  USD 0.5 ordinary          CFD                Increasing Long            55,000       GBP 12.26
  USD 0.5 ordinary          CFD                Increasing Long           445,000       GBP 12.26
  USD 0.5 ordinary          CFD                Increasing Long           177,231       GBP 12.33
  USD 0.5 ordinary          CFD                Increasing Long           338,396       GBP 12.28


(c)     Options transactions in respect of existing securities

(i)     Writing, selling, purchasing or varying

 Class of    Product     Writing,      Number of   Exercis       Type       Expiry   Option money
 relevant    descrip   purchasing,    securities   e price       e.g.        date        paid/
 security     tion       selling,      to which      per      American,              received per
              e.g.     varying etc.     option       unit      European                  unit
              call                      relates                  etc.
             option
 USD 0.5       Put       Purchase       108,000      800p      American     March         2.5
 ordinary    Option                                                          2012

(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)         Yes
attached?


Date of disclosure:                               06 February 2012
Contact name:                                     Moana Moore
Telephone number:                                 0203 100 1000

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.

                                                              SUPPLEMENTAL FORM 8 (OPEN POSITIONS)
                                                 
       DETAILS OF OPEN OPTION AND DERIVATIVE POSITIONS, AGREEMENTS TO PURCHASE OR SELL ETC.
                       Note 5(i) on Rule 8 of the Takeover Code (the "Code")
                                                 

1.      KEY INFORMATION

Identity of person whose open positions are being            Arrowgrass Capital Partners LLP
disclosed:
Name of offeror/offeree in relation to whose relevant        Xstrata Plc
securities the disclosure relates:

2.      OPTIONS AND DERIVATIVES

 Class of       Product        Written or      Number of      Exercise      Type       Expiry date
 relevant     description      purchased      securities     price per      e.g.
 security      e.g. call                       to which         unit      American,
                 option                        option or                  European
                                              derivative                    etc.
                                                relates
USD 0.5 Ord  Put Option      Purchased       108,000         800p        American      March 2012
                                             

3.      AGREEMENTS TO PURCHASE OR SELL ETC.

Full  details  should  be  given  so that the nature of the interest  or  position  can  be  fully
understood:
Position  formed  part  of a basket of put protection trades for the overall  European  volatility
portfolio for the Arrowgrass Master Fund Ltd.





It  is  not  necessary to provide details on a Supplemental Form (Open Positions) with  regard  to
contracts for differences ("CFDs") or spread bets.

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

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.

Contact Information

  • Arrowgrass Capital Partners LLP