Nationwide Accident Repair Srvs PLC Form 8 (OPD)-Nationwide Accident Repair Services (6039J)
08 Aprile 2015 - 11:31AM
UK Regulatory
TIDMNARS
RNS Number : 6039J
Nationwide Accident Repair Srvs PLC
08 April 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: Nationwide Accident Repair Services Plc
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(b) Owner or controller of interests and short positions disclosed, if N/A
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.
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(c) Name of offeror/offeree in relation to whose relevant securities this Nationwide Accident Repair Services Plc
form relates:
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: 07/04/2015
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 N/A
disclosures in respect
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:
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Interests Short positions
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Number % Number %
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(1) Relevant securities owned and/or controlled: Nil 0 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 (including directors' and
other employee options) of any person acting in concert with the party to the offer making
the disclosure:
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1) - 1 Independent Director and the Chief Executive hold shares as follows:
Michael Marx - Non Executive Chairman - 30,000 NARS Ordinary Shares (0.07%)
Michael Wilmshurst - Chief Executive - 1,351,351 Ordinary Shares (3.13%)
2) - 1 employee currently holds share options as follows:
Individual Number Number Exercise Exercise
of Share of Share Price Period
Options Options
2013 2012
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Michael
Wilmshurst Approved 25,751 25,751 GBP1.165 2009-2016
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Unapproved 1,096,055 1,096,055 GBP1.11 2009-2016
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1,121,806 1,121,806
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All options are 'out of the money' under the terms of the offer made by Carlyle on 01/04/2015
3) - Christopher Mills (Non-executive Director) / Harwood Capital / NARS
Christopher Mills is deemed in concert with NARS by virtue of his being a director of NARS.
Christopher Mills also holds indirectly a controlling interest in Harwood Capital LLP ("Harwood
Capital") and is a director and Chief Executive and Investment Manager of North Atlantic Smaller
Companies Investment Trust Plc ("NASCIT"). NASCIT, which was until recently a discretionary
investment management client of Harwood Capital and is deemed to be in concert with Harwood
Capital, holds 10,000,000 NARS shares. Harwood Capital is an investment manager and Oryx International
Growth Fund Limited ("Oryx") and certain other discretionary and/or investment advisory clients
of Harwood Capital (the "Harwood Funds") hold between them a total of 3,395,414 NARS shares.
The combined holdings of NASCIT and the Harwood Funds represent approximately 31.01% of the
issued share capital of NARS. As a result of the significant shareholding and directorship
NASCIT and Harwood Capital are considered to form part of the NARS concert party.
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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: 08/04/2015
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Contact name: David Pugh
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Telephone number: 01993 701 720
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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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