Pearson plc announced on 7 June 2010 that it had received notification that the Libyan Investment Authority (LIA) had acquired 24,431,000 ordinary shares in the company. On further investigation, Pearson has reasonable cause to believe that the LIA may have acquired an additional 2,141,179 shares resulting in a total interest in 26,572,179 shares. This represents 3.27% of the company’s issued share capital.
Pearson has reviewed the United Nations Security Council Resolution 1970 (2011), and The Libya (Financial Sanctions) Order 2011 (SI 2011 No. 548) in the United Kingdom (the “Order”).
Having taken legal advice regarding its obligations under the Order, Pearson considers that the ordinary shares in the company which are held by or on behalf of the LIA are subject to the Order and are therefore effectively frozen. As a result, Pearson has today informed the LIA and its nominees that Pearson will not register any transfer or pay any dividend in respect of the shares until further notice.
For more information
Luke Swanson / Simon Mays-Smith / Charles Goldsmith +44 (0)20 7010 2310