Barclays, Societe Generale and Capula disclose AMS positions

what happened

The London Stock Exchange reported that Barclays PLC published a Rule 8.3 Takeover Code disclosure on 12 October concerning Advanced Medical Solutions Group plc. As of 9 October, Barclays owned or controlled 7,489,969 shares, or 3.39%, while its total interests stood at 8,578,542 shares, or 3.88%. Its aggregate short position was 8,580,648 shares, also 3.88%. The bank also reported share purchases and sales, alongside swap and CFD transactions at prices of about GBP 2.82.

Societe Generale disclosed an interest in 9,014,605 Advanced Medical Solutions shares, or 4.08%, and a short position covering 9,018,038 shares, also 4.08%. On 9 October, it bought 70,586 and 1,363 shares and sold 81,751 shares at GBP 2.82. It also reported closing long CFD positions and reducing a short CFD position.

Capula Investment Management LLP reported an interest equivalent to 6,370,401 shares, or 2.88%, through cash-settled derivatives. The investment manager disclosed a reduction of its long position by 85,014 reference shares at 282.50 pence. All three notices were distributed through RNS, the London Stock Exchange’s news service.

why it matters

The Rule 8.3 filings give the market visibility into major financial participants’ positions and derivatives during a potential takeover process. They indicate the structure of disclosed exposure around Advanced Medical Solutions, but do not by themselves confirm any change to deal terms or the parties’ intentions.

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