Cevian boosts Smith & Nephew (SNN) holding to 11.18% of voting rights
Filing Impact
Filing Sentiment
Form Type
6-K
Rhea-AI Filing Summary
Smith & Nephew plc reports an updated major shareholding notification from Cevian Capital II G.P. Limited under the UK TR-1 regime. Cevian now holds 11.183442% of Smith & Nephew’s voting rights, representing 95,512,095 voting rights attached to shares.
Within this total, Cevian Capital II Master Fund L.P. accounts for 10.005808% and Cevian Capital II Co-Investment - Series P L.P. accounts for 1.177635%. The aggregate stake has risen from 11.013663%, and the company notes that no new notification threshold has been crossed as a result of this increase.
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Key Figures
Aggregate voting-rights percentage: 11.183442%
Total voting rights held: 95,512,095 voting rights
Previous aggregate voting-rights percentage: 11.013663%
+2 more
5 metrics
Aggregate voting-rights percentage
11.183442%
Resulting situation when threshold was crossed or reached
Total voting rights held
95,512,095 voting rights
Resulting situation when threshold was crossed or reached
Previous aggregate voting-rights percentage
11.013663%
Position of previous notification
Master Fund voting-rights percentage
10.005808%
Cevian Capital II Master Fund L.P. holding
Co-Investment fund voting-rights percentage
1.177635%
Cevian Capital II Co-Investment - Series P L.P. holding
Key Terms
TR-1, voting rights, financial instruments, nominee, +2 more
6 terms
TR-1 regulatory
"TR-1: Standard form for notification of major holdings"
A TR-1 is a financial form used by investors to report significant ownership stakes in a company, typically when they acquire or dispose of a large number of shares. It helps keep the market informed about major shareholders and potential changes in control, allowing other investors to make better-informed decisions. This transparency encourages fair trading and reduces surprises related to ownership shifts.
voting rights financial
"Total number of voting rights held in issuer Resulting situation on the date on which threshold was crossed or reached"
Voting rights are the ability of shareholders to have a say in important company decisions, like choosing leaders or approving big changes. They matter because they give owners a voice in how the company is run, similar to how voters influence elections, ensuring the company acts in shareholders’ interests.
financial instruments financial
"% of voting rights through financial instruments (total of 8.B 1 + 8.B 2)"
Financial instruments are assets or contracts that hold monetary value and can be bought, sold, or traded. They serve as tools for investors to grow, protect, or transfer money, much like how a ticket or voucher can be used to access goods or services. These instruments help individuals and organizations manage financial goals and risks across different markets and economic conditions.
nominee financial
"The legal owner of the shares is Aurora Nominees Limited (acting as nominee), which holds the shares on behalf of UBS AG"
custodian financial
"Aurora Nominees Limited (acting as nominee), which holds the shares on behalf of UBS AG (acting as custodian)."
A custodian is a financial institution that holds and safeguards an investor's assets—such as stocks, bonds, or cash—and records transactions on the investor's behalf. Think of it as a trusted caretaker or safe-deposit box for investments; it helps prevent loss or theft, handles paperwork and transfers, and provides transparency and regulatory checks, so investors can focus on decisions rather than the mechanics or security of asset storage.
general partner financial
"Cevian Capital II G.P. Limited acts as general partner for Cevian Capital II Master Fund L.P. and Cevian Capital II Co-Investment - Series P L.P."
A general partner is the person or firm that runs an investment partnership and legally represents it — they make the day-to-day decisions, choose which assets to buy or sell, and are responsible for the partnership’s obligations. Investors care because the general partner’s judgment, risk-taking and fee and profit-sharing arrangements determine both the potential returns and the level of exposure to losses; think of the GP as the ship’s captain whose skill and honesty shape the voyage’s outcome.
FAQ
What does Smith & Nephew (SNN) disclose in this Form 6-K?
Smith & Nephew discloses an updated TR-1 major shareholding notification from Cevian Capital II G.P. Limited. It details Cevian’s current voting-rights percentage, the number of voting rights held, and how these holdings are split between its two limited partnerships.
What is Cevian Capital’s current stake in Smith & Nephew (SNN)?
Cevian Capital II G.P. Limited now holds 11.183442% of Smith & Nephew’s voting rights, corresponding to 95,512,095 voting rights attached to shares. This represents Cevian’s aggregate position across its related funds as reported in the TR-1 notification.
How has Cevian’s holding in Smith & Nephew (SNN) changed?
Cevian’s aggregate holding increased from 11.013663% to 11.183442% of Smith & Nephew’s voting rights. The increase comes from Cevian Capital II Master Fund L.P., whose stake rose to 10.005808%, while the Co-Investment fund’s percentage remains unchanged.
Did Cevian Capital cross a new notification threshold in Smith & Nephew (SNN)?
Cevian Capital did not cross a new notification threshold with this change. The filing states explicitly that although Cevian’s aggregate holding has risen to 11.183442%, this increase does not trigger any new reportable threshold under the applicable disclosure rules.
How are Cevian’s Smith & Nephew (SNN) holdings structured between its funds?
Cevian Capital II Master Fund L.P. holds 10.005808% of Smith & Nephew’s voting rights, and Cevian Capital II Co-Investment - Series P L.P. holds 1.177635%. Cevian Capital II G.P. Limited acts as general partner to both funds, combining to an 11.183442% aggregate stake.