Facts triggering the obligation to notify: Renova Group crossed with the signing of an ABN Swap on December 27, 2007 the 33 1/3% notification threshold with combined 33.82% of the voting rights / equivalents and recrossed it again on December 28, 2007 to 30.00% with a sale of 138 311 call warrants on 138 311 Sulzer shares representing 3.82% of the voting rights in Sulzer.
Accordingly, Everest notified Sulzer on January 7, 2008, of the following Renova Group holding as at January 7, 2008:
|
Equity Securities |
|
|
Voting Rights |
|
|
Number Shares |
|
Number |
Percentage |
|
Shares |
890 457 |
|
890 457 |
24.48% |
|
Purchase Positions |
|
|
Voting Rights |
|
Derivatives |
Number Rights |
ISIN |
Number |
Percentage |
|
Long Call Warrants |
60 533 |
CH0030677782 |
60 533 |
1.66% |
|
Financial Instruments |
|
|
|
|
|
Swap (Nexgen)1 |
53 419 |
see remarks |
53 419 |
1.47% |
|
Swap (ABN)2 |
87 000 |
see remarks |
87 000 |
2.39% |
|
Cumulative |
|
|
200 952 |
5.52% |
|
Cumulative Shares and Purchase Positions |
|
|
1 091409 |
30.00% |
Remarks
1) On December 3, 2007, Renova Industries entered with Nexgen Capital Limited, Ormonde House, 12 Lower Leeson Street, Dublin 2, Ireland, into a cash-settled equity swap transaction subject to the multicurrency-cross border master agreement of the International Swap Dealers Association, Inc (ISDA Master Agreement) and a confirmation setting out the following key terms: Termination Date: April 30, 2009; Shares: 53 419 Sulzer shares, representing 1.47% of the voting rights in Sulzer, Initial price: CHF 1 702 per Sulzer share; Notional Amount: Equity Notional Amount (CHF 90 919 138) minus the Initial Collateral Amount (CHF 18 183 827.6), i.e. CHF 72 735 311; Floating Rate Option: CHF-LIBOR-BBA; Spread: 1.4%.
2) On December 27, 2007, Renova Industries entered with ABN Amro Bank N.V., 250 Bishopsgate, London EC2M 4AA, United Kingdom, into a cash-settled share swap transaction (the “ABN Swap”), subject to the ISDA Master Agreement and a confirmation setting out of the following key terms: Trade Date: December 27, 2007, Termination Date: December 27, 2008, or earlier according to the terms of the Swap; Shares: 87 000 Sulzer shares, representing 2.29% of the voting rights in Sulzer; Initial price: CHF 1 640 per Sulzer share; Notional Amount: Equity Notional Amount (CHF 142 680 000) minus the Initial Collateral Amount (CHF 28 536 000), i.e. CHF 114 144 000; Floating Rate Option: CHF-LIBOR; Spread: 1.3%.
|
Sale Positions |
|
|
Voting Rights |
|
Rights
with Cash Settlement |
Number Rights |
Exercise Period |
Number |
Percent |
|
Long Put Options |
150 000 |
March 19, 20081 |
150 000 |
4.12% |
|
Long Put Options |
150 000 |
March 26, 20081 |
150 000 |
4.12% |
|
Long Put Options |
150 000 |
April 2, 20081 |
150 000 |
4.12% |
|
Long Put Options |
150 000 |
April 9, 20081 |
150 000 |
4.12% |
|
Rights
with Physical Settlement |
Number Rights |
Exercise Period |
Number |
Percent |
|
Short Call Options |
150 000 |
March 19, 20082 |
150 000 |
4.12% |
|
Short Call Options |
150 000 |
March 26, 20082 |
150 000 |
4.12% |
|
Short Call Options |
150 000 |
April 2, 20082 |
150 000 |
4.12% |
|
Short Call Options |
150 000 |
April 9, 20082 |
150 000 |
4.12% |
|
Cumulative Sale Positions |
|
|
1 200000 |
32.96% |
Remarks
1) All long put options set forth in this table have as seller (issuer) Deutsche Bank AG London; the underlying are Sulzer shares; the subscription ratio is 1:1; and the exercise price is CHF 1038.00; the exercise type is European; and the settlement is in cash.
2) All short call options set forth in this table have as seller (issuer) Everest; the underlying are Sulzer shares; the subscription ratio is 1:1; and the exercise price is CHF 2162.50; the exercise type is European; and the settlement is physical.
Renova Industries Ltd., Everest Beteiligungs GmbH and Salve Beteiligungs GmbH form a group together. Salve Beteiligungs GmbH, Griechengasse 2, 1010 Vienna, Austriais a 100% subsidiary of Everest,Griechengasse 2, 1010 Vienna, Austria, which is a 100% subsidiary of Jollinson Holdings Limited, Nestonos 5 CY-6035 Larnaca, Cyprus, which is a 100% subsidiary of Renova Industries, which is a 86% controlled subsidiary of Renova Holding Ltd, 2nd Terrace West Centreville, P.O. Box N-7755 Nassau, Bahamas. The 100% shareholder of Renova Holding is TZ Columbus Services Ltd., Pasea Estate, Road Town, Tortola, British Virgin Island as trustee of the Columbus Trust, a trust established under laws of Cayman Islands, whose ultimate beneficiary is Victor F. Vekselberg, 19 Bakrushina Street, Bld. 2, Apt. 15, 113054 Moscow, Russia, and Susenbergstrasse 94, 8044 Zurich, Switzerland. The group is represented by Vladimir Kuznetsov, Chairman of the Supervisory Board of Everest. The shareholder’s contact person for the present notification is David Kalberer, 8834 Schindellegi, Switzerland.
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