Recent trading activity in 3i Group plc shares
The Board would like to bring to the attention of 3i Group plc ("3i") shareholders its understanding that Sherborne Investors through its associates (together, "Sherborne") and Jefferies International (Nominees) Limited ("Jefferies") have been trading in 3i shares during January.
We understand that trading commenced on 2 January 2013, and in a number of instances, we believe that Sherborne has acquired and then sold 3i shares to Jefferies. We believe that as at close of business on 15 January 2013, Sherborne had acquired an interest representing approximately 0.7% of 3i's total issued share capital, and has since sold that interest to Jefferies. In addition, since then, we believe that Jefferies has acquired further 3i shares, and that, as at close of business on 22 January 2013, Jefferies owned approximately 1.6% of 3i's total issued share capital. In the period from 2 January to 22 January 2013, the volume weighted average price of 3i shares was approximately 239 pence per share. As at close of business on 28 January 2013, 3i's share price was 258.9 pence per share.
The Board notes that in November 2012, an investment vehicle, Sherborne Investors (Guernsey) B Limited, which is managed by Sherborne Investors Management (Guernsey) LLC, raised gross proceeds of £207m with the stated objective of investing in a company which is publicly quoted, most likely on a UK stock exchange, and which it considers to be undervalued. The Board also notes the comments in a Financial Times article on 3 January 2013 in relation to this new investment vehicle, stating that "Most of the £200m raised will be used to buy up to 30 per cent of one target". Jefferies International Limited is nominated adviser and broker to Sherborne Investors (Guernsey) B Limited.
For further information, please contact:
Investor Relations Director
Tel 020 7975 3258
Kathryn van der Kroft
PR Director, 3i Group plc
Tel: 020 7975 3021
Notes to editors
3i is an international investor focused on mid-market private equity, infrastructure and debt management, across Europe, Asia and the Americas. For further information, please see www.3iGroup.com.