Lombard Odier Asset Management Decreases its Position in Horizonte Minerals Plc

2017-12-08 / @newswire

 

LONDON, Dec. 8, 2017 /CNW Telbec/ - This press release is being disseminated by Lombard Odier Asset Management (Europe) Limited ("LOAME") because LOAME is ceasing to file reports under the Alternative Monthly Reporting System of Part 4 of National Instrument 62‑103 in respect of its investment in Horizonte Minerals plc ("Horizonte") (TSX:HZM , LSE HZM:LN).

In a series of dispositions that took place on the London Stock Exchange during the months of September, October and November 2017, LOAME disposed of a total of 49,250,000 ordinary shares of Horizonte such that its security holder percentage decreased from approximately 14.11% as at April 30, 2017 to less than 12.5% on October 23, 2017 and less than 10% on November 22, 2017. As a result of such dispositions, as at December 8, 2017, LOAME has ownership, on behalf of the accounts it manages, of 115,526,242 ordinary shares of Horizonte, representing approximately 9.85% of the issued and outstanding ordinary shares of Horizonte.

LOAME inadvertently omitted to file a report under the Alternative Monthly Reporting System for the period ending October 31, 2017 to disclose that its security holder percentage decreased to below 12.5% of the issued and outstanding ordinary shares of Horizonte and, as a result , LOAME is ceasing to file reports under the Alternative Monthly Reporting System. Consequently, a report on Form 62-103F2 (Required Disclosure by an Eligible Institutional Investor under Section 4.3) is being filed by LOAME in accordance with applicable Canadian securities laws and will be available on SEDAR at www.sedar.com. The report is an amendment to a report filed dated May 8, 2017. 

LOAME has not acquired or disposed of securities of Horizonte since it was made aware of its inadvertent omission to file a report. Securities of Horizonte are held by certain funds and accounts managed by [Lombard Odier Investment Managers group] as part of discretionary managed portfolios held on behalf on institutional investors and investment funds and were acquired for investment purposes. Depending on the evolution of Horizonte's business, financial condition, the market for Horizonte's securities, general economic conditions and other factors, the funds may in the future increase the ownership of securities of Horizonte, from time to time, or sell some or all of the securities it holds, in the open market, by private agreement or otherwise, subject to their availability at attractive prices, market conditions, applicable securities laws and other relevant factors.

 

SOURCE Lombard Odier Asset Management (Europe) Limited

View original content: http://www.newswire.ca/en/releases/archive/December2017/08/c2750.html

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