Sand Grove Capital Management LLP has disclosed its position in Barratt Developments plc, as per the requirements of Rule 8.3 of the Takeover Code. The disclosure, released on 9th July 2024, indicates that Sand Grove Capital Management LLP serves as the Investment Manager or Discretionary Sub-Advisor for the fund(s) with interests in Barratt Developments plc. The disclosure includes details of interests and short positions in the relevant securities of Barratt Developments plc, as well as dealings undertaken.
The disclosure reveals that Sand Grove Capital Management LLP holds 0.70% in cash-settled derivatives of Barratt Developments plc. It also includes information about the nature of the dealings, such as increasing a short position in the relevant securities. The disclosure further states that there are no indemnity or other dealing arrangements, agreements, arrangements, or understandings relating to options or derivatives.
The release does not include a Supplemental Form 8 (Open Positions) and provides contact information for further inquiries. It emphasizes that public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service and that the Panel’s Market Surveillance Unit is available for consultation in relation to the Code’s disclosure requirements.
This disclosure provides transparency regarding Sand Grove Capital Management LLP's position in Barratt Developments plc, in accordance with regulatory requirements. It offers insights into the interests and short positions held, as well as the nature of dealings undertaken, contributing to a clearer understanding of the company's securities and the involvement of relevant stakeholders.