Skyline Investments Inc. — Director's Dealing 2017

Aug 1, 2017

01-Aug-2017 / 15:31 GMT/BST

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FORM 8.3

PUBLICOPENING POSITION DISCLOSURE/DEALING DISCLOSUREBY A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1%OR MORE Rule 8.3 of the Takeover Code (the "Code")

1. KEY INFORMATION

(a) Full name of discloser:	Cambridge Global Asset Management a business units of CI Investments Inc., as portfolio advisor to certain investment funds
(b)Owner or controller of interests and short positionsdisclosed, if different from
1(a):
The naming of nominee or vehicle companies is insufficient . For a trust, the
trustee(s), settlor and beneficiaries must be named.
(c)Name of offeror/offeree in relation to whose relevant securities this form	Kennedy-Wilson Holdings, Inc.
relates:
Use a separate form for each offeror/offeree
(d)If an exempt fund manager connected with an offeror/offeree, state this and	N/A
specify identity of offeror/offeree:
(e)Date position held/dealing undertaken:	July 31, 2017
For an opening position disclosure, state the latest practicable date prior to the
disclosure
(f) In addition to the company in 1(c) above, is the discloser making disclosures in	YES
respect of any other party to the offer?	If YES, specify which:
If it is a cash offer or possible cash offer , state "N/A"	Kennedy Wilson Europe Real Estate Plc

2. POSITIONS OF THE PERSON MAKING THEDISCLOSURE

If there are positions or rights to subscribe to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2(a) or (b) (as appropriate) for each additional class of relevant security.

(a) Interests and short positions in the relevant securitiesof the offeror or offeree to which the disclosure relates following the dealing (if any)

Classof relevant security:	Common Stock
	Interests		Short positions
	Number	%	Number	%
(1)Relevant securitiesowned and/or controlled:	3089411	2.7
(2)Cash-settled derivatives:
(3)Stock-settled derivatives (including options) and agreements to purchase/sell:
TOTAL:	3089411	2.7

All interests and all short positions should be disclosed.

Details of any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8 (Open Positions).

(b) Rights to subscribe for new securities (including directors' and other employee options)

Classof relevant security in relation to which subscription right exists:
Details, including nature of the rights concerned and relevant
percentages:

3. DEALINGS (IF ANY) BY THE PERSON MAKING THEDISCLOSURE

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

The currency of all prices and other monetary amounts should be stated.

(a) Purchases and sales

Classof relevant security	Purchase/sale	Number of securities	Price per unit

Common Stock	Sale	30,782	20.00

(b) Cash-settled derivative transactions

Classof relevant security	Product description e.g. CFD	Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position	Number of reference securities	Price per unit

(c) Stock-settled derivative transactions (including options)

(i) Writing, selling, purchasing or varying

Classof relevant security	Product description e.g. call option	Writing, purchasing, selling, varying etc.	Number of securities to which option relates	Exercise price per unit	Type e.g. American, European etc.	Expiry date	Option money paid/ received per unit

(ii) Exercise

Classof relevant security	Product description e.g. call option	Exercising/ exercised against	Number of securities	Exercise price per unit

(d) Other dealings (including subscribing for new securities)

Classof relevant security	Nature of dealing e.g. subscription, conversion	Details	Price per unit (if applicable)

4. OTHER INFORMATION

(a) Indemnity and other dealing arrangements

Detailsof any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer:

Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings , state "none"

None

(b) Agreements, arrangementsor understandings relating to optionsor derivatives

Detailsof any agreement, arrangement or understanding, formal or informal, between the person making the disclosure and any other person relating to:

(i) the voting rightsof any relevant securitiesunder any option; or

(ii)the voting rightsor future acquisition or disposal of any relevant securities to which any derivative is referenced:

If there are no such agreements, arrangements or understandings , state "none"

None

(c) Attachments

Is a Supplemental Form 8 (Open Positions) attached? No

Date of disclosure:	August 1, 2017
Contact name:	Anne Ramsay
Telephone number:	416-681-1771

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Servic e.

The Panel's Market Surveillance Unit is available for consultation in relation to the Code's disclosure requirements on +44 (0)20 7638 0129.

The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.

Language: English ISIN: CA125521AA21 Category Code:RET - Kennedy-Wilson Holdings, Inc. TIDM: - Sequence No.: 4487

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