Vanguard Discloses Stake in Virgin Money UK plc

The Vanguard Group, Inc. has publicly disclosed its position in Virgin Money UK plc as per the requirements set by Rule 8.3 of the Takeover Code. The disclosure, relevant to entities or individuals holding interests in securities representing 1% or more, was made on 09 April 2024. The investment firm reported holding a total interest of 73,436,316 shares, amounting to 5.66% in Virgin Money UK plc.

These holdings are in the form of 10p ordinary shares and CDIs (Chess Depositary Interests), denoting a significant stake in the financial institution. Additionally, the document outlined a recent transaction involving the purchase of 14,775 CDIs at a price of 4.11 AUD each, further indicating Vanguard’s active investment approach towards Virgin Money UK plc.

No other forms of dealing, such as cash-settled derivatives or stock-settled derivatives transactions, were reported by Vanguard in this latest disclosure. Also, no indemnity or dealing arrangements that might influence dealing decisions were entered into by the firm, suggesting a straightforward investment strategy without underlying motives to affect the market or the takeover process.