Ashcourt Rowan PLC Form 8 (OPD) (Ashcourt Rowan PLC) (2124E)
05 Febbraio 2015 - 7:20PM
UK Regulatory
TIDMARP
RNS Number : 2124E
Ashcourt Rowan PLC
05 February 2015
FORM 8 (OPD)
PUBLIC OPENING POSITION DISCLOSURE BY A PARTY TO AN OFFER
Rules 8.1 and 8.2 of the Takeover Code (the "Code")
1. KEY INFORMATION
(a) Full name of discloser: Ashcourt Rowan plc
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(b) Owner or controller of interests and short positions disclosed, if different from 1(a): N/A
The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s),
settlor and beneficiaries must be named.
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(c) Name of offeror/offeree in relation to whose relevant securities this form relates: Ashcourt Rowan plc
Use a separate form for each offeror/offeree
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(d) Is the discloser the offeror or the offeree? OFFEREE
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(e) Date position held: 04/02/15
The latest practicable date prior to the disclosure
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(f) In addition to the company in 1(c) above, is the discloser making disclosures in respect N/A
of any other party to the offer?
If it is a cash offer or possible cash offer, state "N/A"
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2. POSITIONS OF THE PARTY TO THE OFFER MAKING THE DISCLOSURE
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 securities of
the offeror or offeree to which the disclosure relates
Class of relevant security: Ordinary Shares of 20p each
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Interests Short positions
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Number % Number %
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(1) Relevant securities owned and/or controlled:
Ashcourt Rowan Asset Management Limited 74,040 0.209% Nil 0%
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(2) Cash-settled derivatives: Nil 0% Nil 0%
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(3) Stock-settled derivatives (including options) and agreements to
purchase/sell: Nil 0% Nil 0%
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TOTAL: Nil 0% Nil 0%
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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).
Details of any securities borrowing and lending positions or
financial collateral arrangements should be disclosed on a
Supplemental Form 8 (SBL).
(b) Rights to subscribe for new securities
Class of relevant security in relation to which subscription right exists: None
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Details, including nature of the rights concerned and relevant percentages: None
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3. POSITIONS OF PERSONS ACTING IN CONCERT WITH THE PARTY TO THE OFFER MAKING THE DISCLOSURE
Details of any interests, short positions and rights to
subscribe of any person acting in concert with the party to the
offer making the disclosure:
a) Ordinary shares of 20 pence each held by directors of
Ashcourt Rowan plc (including their connected persons)
Ordinary Shares of 20p each
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Number %
---------------- ---------------- ------------
Name
---------------- ---------------- ------------
Jonathan Polin 231,645 0.653
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Jim Roberts 28,099 0.079
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b) Directors' rights to subscribe to Ashcourt Rowan plc Ordinary shares
(i) Growth Securities Ownership Plan ("GSOP")
Year Existing contractual Existing contractual Vesting awards(1) Exercise Price
awarded awards awards as % of ISC
----------------- ---------- ------------------------ ------------------------ ------------------ ---------------
Name
----------------- ---------- ------------------------ ------------------------ ------------------ ---------------
Jonathan Polin 2012 2,143,763 6.04% 643,129 GBP2.70
----------------- ---------- ------------------------ ------------------------ ------------------ ---------------
Alfio Tagliabue 2012 494,545 1.39% 148,364 GBP2.70
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Note 1
Vesting conditions:
Final Share Price Percentage of Award Percentage of Award
Vested Vested in the event
of a change of control
before 1 September
2015
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(GBP) % %
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2.50 20 30
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3.00 35 45
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3.50 50 60
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4.00 70 80
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6.00 100 100
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Between 4.00 and Pro rata between Pro rata between 80
6.00 70 and 100 and 100
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In the event of a change of control, the Awards will be subject to accelerated early vesting
depending on the timing of the change of control:
* an additional 20 per cent. of each Award vests if
change of control occurs before 1 September 2013;
* an additional 15 per cent. of each Award vests if
change of control occurs before 1 September 2014; and
* an additional 10 per cent. of each Award vests if
change of control occurs before 1 September 2015.
This will result in payments by Ashcourt Rowan plc to the Directors in cash on completion.
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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).
Details of any securities borrowing and lending positions or
financial collateral arrangements should be disclosed on a
Supplemental Form 8 (SBL).
4. OTHER INFORMATION
(a) Indemnity and other dealing arrangements
Details of 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 party to the offer making the disclosure or any person acting
in concert with it:
Irrevocable commitments and letters of intent should not be included. If there are no such
agreements, arrangements or understandings, state "none"
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None
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(b) Agreements, arrangements or understandings relating to options or derivatives
Details of any agreement, arrangement or understanding, formal or informal, between the party
to the offer making the disclosure, or any person acting in concert with it, and any other
person relating to:
(i) the voting rights of any relevant securities under any option; or
(ii) the voting rights or 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"
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None
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(c) Attachments
Are any Supplemental Forms attached?
Supplemental Form 8 (Open Positions) NO
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Supplemental Form 8 (SBL) NO
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Date of disclosure: 5 February 2015
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Contact name: Alfio Tagliabue
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Telephone number: 020 7871 7250
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Public disclosures under Rule 8 of the Code must be made to a
Regulatory Information Service and must also be emailed to the
Takeover Panel at monitoring@disclosure.org.uk. 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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