Funds disclose positions and trades in Vesuvius and RHI Magnesita

what happened

GlobeNewswire published Man Group PLC’s Form 8.3 disclosures on 12 October. As of 9 October, the firm owned 13,965,573 Vesuvius plc shares, or 5.62%, and held cash-settled derivatives referencing 993,858 shares. Its total interests reached 14,959,431 shares, or 6.02%, alongside a short position of 499,224 shares, or 0.20%. Man Group also sold two blocks of 205,394 shares at 4.6529 GBP and 4.6893 GBP. The filing said it also covered offeror RHI Magnesita N.V.

According to GlobeNewswire, Man Group’s position in RHI Magnesita totalled 1,488,663 shares, or 3.14%, consisting of 1,148,776 owned shares and cash-settled derivatives referencing 339,887 shares. The firm bought 3,963 shares at 28.6688 EUR. For Gamma Communications plc, Man Group reported interests equivalent to 1,327,423 shares, or 1.48%, after increasing a long position through equity swaps on 1,612, 1,497 and 817 shares.

The London Stock Exchange reported that M&G Plc / M&G Investment Management Limited held 9,504,590 Vesuvius shares, or 3.82%, after selling 24,450 shares at £4.7161 and 534,877 at £4.7150. BlackRock, Inc. disclosed 12,645,952 shares, or 5.09%, and cash-settled short derivatives on 926,292 shares, or 0.37%; it also reported purchases and an 886-share transfer in.

why it matters

The Rule 8.3 filings provide market participants with visibility into major managers’ ownership, derivative exposure and trading in companies linked to RHI Magnesita’s offer for Vesuvius.

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