(WSM.L) Wellstream Holdings PLC Buy/Sell

RNS Number : 7724C Wellstream Holdings PLC 19 November 2009

Form TR-1 with annex. FSA Version 2.1 updated April 2007

For filings with the FSA include the annex For filings with issuer exclude the annex

TR-1: Notifications of Major Interests in Shares

Wellstream Holding plc

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

2. Reason for notification (yes/no)
Yes

An acquisition or disposal of voting rights
No

An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached
No

An event changing the breakdown of voting rights

Other (please specify):______________
Janus Capital Management LLC

3. Full name of person(s) subject to notification obligation:

4. Full name of shareholder(s) (if different from 3):
17 November 2009

5. Date of transaction (and date on which the threshold is crossed or reached if different):
18 November 2009

6. Date on which issuer notified:
8%

7. Threshold(s) that is/are crossed or reached:

8: Notified Details A: Voting rights attached to shares

Class/type of shares Situation previous to the triggering Resulting situation after the triggering transaction
If possible use ISIN code transaction

Ordinary

Number of shares Number of voting Number of shares Number of voting rights Percentage of voting
rights rights
8,024,873 8,024,873 7,876,476
Direct Indirect Direct Indirect
7,876,476 7.90%

B: Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument Expiration date Exercise/ conversion No. of voting rights Percentage of voting
period/date that may be acquired rights
(if the instrument
exercised/converted)

Total (A+B)

Number of voting rights Percentage of voting rights
7,876,476 7.90%

9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectively held, if applicable:

Proxy Voting:

10. Name of proxy holder: Janus Capital Management LLC
11. Number of voting rights proxy holder will 148,397

cease to hold:

12. Date on which proxy holder will cease to 17 November 2009

hold voting rights:

13. Additional information:

14 Contact name: Kathy Valenta

15. Contact telephone name: 303-336-4528

For notes on how to complete form TR-1 please see the FSA website.

Note: Annex should only be submitted to the FSA not the issuer

Annex: Notification of major interests in shares

A: Identity of the persons or legal entity subject to the notification obligation
Full name Janus Capital Management, LLC

(including legal form of legal entities)

Contact address 151 Detroit St.
(registered office for legal entities) Denver, CO 80206

Phone number & email 303-336-4528
kathy.valenta@janus.com

Other useful information (at least legal representative for legal persons)

B: Identity of the notifier, if applicable Full name Contact address Phone number & email Other useful information (e.g. functional relationship with the person or legal entity subject to the notification obligation)

C: Additional information

This information is provided by RNS The company news service from the London Stock Exchange

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RNS Number : 7712C Wellstream Holdings PLC 19 November 2009

Financial Services Authority

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

1. Identity of the issuer or the underlying issuer Wellstream Holdings Plc

of existing shares to which voting rights are attached:

2. Reason for the notification (please tick the appropriate box or boxes):
An acquisition or disposal of voting rights Yes

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached.

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

3. Full name of person(s) subject to the Legal & General Group Plc (L&G)

notification obligation:
4. Full name of shareholder(s) Legal & General Assurance (Pensions Management) Limited
(if different from 3.): (PMC)
17 November 2009

5. Date of the transaction and date on which the threshold is crossed or reached:

6. Date on which issuer notified: 18 November 2009
7. Threshold(s) that is/are crossed or From 4% - 3% (L&G)

reached:

8. Notified details:

A: Voting rights attached to shares
Class/type of Situation previous Resulting situation after the triggering transaction
shares to the triggering
transaction

if possible using the ISIN CODE
Number Number Number of voting % of voting rights
of of Number rights
Shares Voting of shares
Rights
Direct Indirect Direct Indirect
ORD 4,006,893 4,006,893 3,975,393 3,975,393 3.98

GBP 0.01

B: Qualifying Financial Instruments Resulting situation after the triggering transaction
Number of voting
Type of financial Expiration Exercise/ rights that may be % of voting
instrument date Conversion Period acquired if the rights
instrument is
exercised/ converted.

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments Resulting situation after the triggering transaction

Type of financial Exercise price Expiration date Exercise/ Number of voting rights instrument refers to % of voting rights
instrument Conversion period
Nominal Delta

Total (A+B+C)
Number of voting rights Percentage of voting rights
3.98
3,975,393

9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable: Legal & General Group Plc (Direct and Indirect) (Group) Legal & General Investment Management (Holdings) Limited (LGIMH) (Direct and Indirect) Legal & General Investment Management Limited (Indirect) (LGIM) Legal & General Group Plc (Direct) (L&G) (3,975,393 - 3.98% = LGAS, LGPL &

Legal & General Investment Legal & General Insurance Holdings Limited

Management (Holdings) Limited (Direct) (LGIH) (Direct) (LGIMHD) (3,364,454 - 3.37% = PMC)
Legal & General Assurance Legal & General Assurance Society Limited
(Pensions Management) Limited (LGAS & LGPL)

(PMC) (3,364,454 - 3.37% =

Legal & General Pensions Limited (Direct)

Proxy Voting:
10. Name of the proxy holder:

11. Number of voting rights proxy holder will cease

to hold:

12. Date on which proxy holder will cease to hold

voting rights:

13. Additional information:
Notification using the total voting rights figure of 99,748,460
14. Contact name:
Helen Lewis (LGIM)
15. Contact telephone number:

This information is provided by RNS The company news service from the London Stock Exchange

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10:12GMT 17Nov2009-Wellstream drops on disappointing order backlog, outlook

Shares in Wellstream Holdings fall as much as 10 percent to 485.10 pence, an 11-week low, after the oil services group says it has an order backlog of 170 million pounds, down from 215 million pounds when it posted its interim results in August.
The company also says uncertainty remains around timing of contract awards outside of Brazil and that it expects this to affect profits in the first half of 2010.
"We are positive about the group's product base and longer term market trends, however the statement while in line is somewhat disappointing on the level of order backlog and downbeat about 2010," says FinnCap in a note.
To see more on Wellstream please click on

Reuters messaging rm://julie.crust.reuters.com@reuters.net
10:10GMT 17Nov2009-Chime Communications higher on update

Shares in British marketing services group Chime Communications Plc gain 1.4 percent, outperforming the FTSE Small Cap Index which sheds 0.2 percent, following a bullish interim update.
KBC Peel Hunt, which rates the firm as "buy" and raises its target price to 240 pence from 200 pence, says the statement "increases our confidence that Chime's strong first-half trading was not exceptional and has continued".
The broker says its new target price equates to 10.8 times 2010 estimated earnings, compared to the FTSE Small Cap Index which trades on 11.3 times estimated 2010 earning.
For more double click on

Reuters Messaging rm://david.brett.reuters.com@reuters.net
09:34GMT 17Nov2009-Big Yellow falls after results

Shares in Big Yellow fall 3.1 percent after the self-storage firm posts first-half results, with Evolution Securities repeating its "reduce" rating on the stock.
"The results are generally weaker than we expected and we continue to favour Safestore over Big Yellow," Evolution says in a note.
The broker adds that the company has not proposed a dividend, so the shares continue to not provide a yield.
Big Yellow says adjusted profit before tax in the six months to Sept. 30 rose to 7.7 million pounds from 6.9 million a year ago, while revenue fell 3 percent to 29.2 million pounds.

Reuters Messaging rm://tricia.wright1.reuters.com@reuters.net
08:55GMT 17Nov2009-UK smallcaps fall 0.1 pct early

The FTSE Small Cap index falls 0.1 percent in early trade, while the midcaps shed 0.7 percent, and the blue chips are 0.5 percent weaker.
Accsys Technologies drops 7.8 percent after the environmental science and technology company posts revenue of 9.3 million euros for the six months to Sept. 30, down from 17.9 million in the same period the previous year.
Pendragon gains 2.9 percent after the car dealer says it traded ahead of plan in the four months to Oct. 31, with the outcome boosted by the government's "cash for bangers" scrappage scheme, good cost control and a better used car performance.

Reuters Messaging rm://tricia.wright1.reuters.com@reuters.net
08:52GMT Redhall higher on contract wins

Shares in Redhall Group Plc rise 4.2 percent as the British engineering support services group announces two new contract wins at Sellafield and the Atomic Weapons Establishment, totalling 10 million pounds.

Altium Securities, which reiterates its "buy" rating and 195 pence target price, calls the win "reassuring" given the recent change in management and says it demonstrates the wider demand for Redhall's offering.
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RNS Number : 6018C
  Wellstream Holdings PLC
  17 November 2009
   

Wellstream Holdings PLC ('Wellstream')

Interim Management Statement

Wellstream, the oil field services provider, issues the following Interim Management Statement for the period 1 July to 17 November 2009.

Trading continues to be in line with the Board's expectations with earnings for the second half of the year anticipated to be slightly ahead of the first half of 2009 as previously indicated. 

Strategically, the company continues to make progress.  It has acquired the lease on the land adjacent to its Niteroi production plant in Brazil which allows realisation of operational efficiencies, scope to offer key customers logistics support and space to expand production capacity further as demand requires.  Also, effective 1 October 2009, the company successfully completed the divestment of its onshore FlexSteelTM business to Prime Natural Resources Inc. for a total cash consideration of approximately USD $30 million. 

Key contract awards in Brazil under the framework agreement with Petrobras, along with background activity elsewhere, have contributed to backlog which currently stands at £170M. However, whilst awards are evident, uncertainty remains around timing of awards outside of Brazil. The Company anticipates this uncertainty will continue through the first half of 2010 and is likely to impact earnings in that period.  Consequently we remain focussed on improving cost efficiency in the business by expanding the local content in our plants and by maintaining the appropriate balance between resources and anticipated demand.

For further information, contact:

Wellstream Holdings PLC                       +44 (0) 191 295 9000

Chris Gill, Finance Director

Jason Nunn, Investor Relations

Tulchan Communications                      +44 (0) 20 7353 4200

Peter Hewer 

Notes to Editors:

Wellstream refers to Wellstream Holdings PLC (FTSE:WSM) and its subsidiary Wellstream International Ltd. The company is a leading independent designer and manufacturer of high quality bespoke flexible pipeline products, systems and solutions for fluid transportation. Its pipeline portfolio includes established product lines such as dynamic flexible risers and static flowlines, for deep and ultra-deepwater environments. With over 1000 employees, Wellstream has offices/facilities in the UK, Brazil, USA, and Australia. Further information regarding Wellstream and its products and services can be accessed at www.wellstream.com.

This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
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