Arrowgrass Capital Partners LLP
LSE : TTM

March 02, 2012 07:44 ET

Rule 8.3 - Glencore International 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          Arrowgrass Capital Partners LLP
    are being disclosed:
(b) Owner or controller of interests and short               N/A
    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             Glencore International PLC
    relevant securities this form relates: Use a
    separate form for each offeror/offeree
(d) If an exempt fund manager connected with an              N/A
    offeror/ offeree, state this and specify identity of
    offeror/ offeree:
(e) Date position held/dealing undertaken:                   01 March 2012
(f) Has the discloser previously disclosed, or are           Yes, Xstrata PLC
    they 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 0.01 ordinary

                                                          Interests         Short positions
                                                       Number       %        Number     %
(1) Relevant securities owned and/or controlled:                                          
(2) Derivatives (other than options):                 5,380,415     0.08    7,265,102   0.10
(3) Options and agreements to purchase/sell:                                              
    TOTAL:                                            5,380,415     0.08    7,265,102   0.10

Class of relevant security:                            5% guaranteed convertible bonds due
                                                                 December 2014
                                                      Interests             Short positions
                                                       Number       %        Number     %
(1) Relevant securities owned and/or controlled:     60,500,000     2.63                  
(2) Derivatives (other than options):                                                     
(3) Options and agreements to purchase/sell:                                               
    TOTAL:                                           60,500,000     2.63                  

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 0.01 ordinary       CFD            Increasing Long             500,000      GBP 4.27
USD 0.01 ordinary       CFD            Increasing Long             250,000      GBP 4.28
USD 0.01 ordinary       CFD            Increasing Long             250,000      GBP 4.28
USD 0.01 ordinary       CFD            Increasing Long             250,000      GBP 4.29
USD 0.01 ordinary       CFD            Increasing Long             250,000      GBP 4.27


(c) Options transactions in respect of existing securities

(i) Writing, selling, purchasing or varying

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



(ii) Exercising

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



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

Class of relevant           Nature of dealing                  Details          Price per unit
    security           e.g. subscription, conversion                            (if 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)         No
attached?


Date of disclosure:                            02 March 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.

Contact Information

  • Arrowgrass Capital Partners LLP