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TR-1: NOTIFICATION OF MAJOR INTERESTS IN SHARES

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

Low & Bonar PLC

2. Reason for the notification (please place an X inside the appropriate bracket/s):

An acquisition or disposal of voting rights: ( X )

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 notification obligation:

RWC Focus Asset Management Limited

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

RWC Specialist UK Focus Fund

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

03 January 2013

6. Date on which issuer notified:

04 January 2013

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

From 5% to 3%, following change in number of shares held.  



8. Notified details:

A: Voting rights attached to shares

Class/type of shares if possible using the ISIN CODE

Situation previous to the Triggering transaction



Number of shares

Number of voting Rights

GB0005363014

15,983,715

15,983,715

Resulting situation after the triggering transaction

Class/type of shares if possible using the ISIN CODE

Number of shares

Number of voting rights

% of voting rights





Direct

Indirect

Direct

Indirect

GB0005363014

N/A

N/A

10,983,715

N/A

3.78%

B: Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration Date

Exercise/Conversion Period/ Date

Number of voting rights that may be acquired if the instrument is exercised/ converted.

% of voting rights

N/A

N/A

N/A

N/A

N/A

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Exercise price

Expiration Date

Exercise/Conversion Period

Number of voting rights instrument refers to

% of voting rights

Nominal

%

N/A

N/A

N/A

N/A

N/A

N/A

N/A

Total (A+B+C)

Number of voting rights

% of voting rights

10,983,715

3.78%

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

N/A

Proxy Voting:

10. Name of the proxy holder:

N/A

11. Number of voting rights proxy holder will cease to hold:

            N/A

12. Date on which proxy holder will cease to hold voting rights:

N/A

13. Additional information:

Notification using the total issued shares as at December 31, 2012: 290,955,148

14. Contact name:

Matthew Joy, Company Secretary, Low & Bonar PLC

15. Contact telephone number:

0207 535 3180


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