Belphar Limited PUBLIC OPENING POSITION DISCLOSURE (7295H)
21 Maggio 2014 - 4:16PM
UK Regulatory
TIDMPAN
RNS Number : 7295H
Belphar Limited
21 May 2014
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) Identity of the party to the offer making the disclosure: Belphar Ltd
-------------------------------------------------------------------------- ------------------------------------------
(b) Owner or controller of interests and short positions disclosed, if Khofiz Shakhidi, the owner of Belphar Ltd
different from 1(a):
The naming of nominee or vehicle companies is insufficient
-------------------------------------------------------------------------- ------------------------------------------
(c) Name of offeror/offeree in relation to whose relevant securities this Pan European Terminals plc
form relates:
Use a separate form for each party to the offer
-------------------------------------------------------------------------- ------------------------------------------
(d) Is the party to the offer making the disclosure the offeror or the Offeror
offeree?
-------------------------------------------------------------------------- ------------------------------------------
(e) Date position held: 21 May 2014
-------------------------------------------------------------------------- ------------------------------------------
(f) Has the party previously disclosed, or is it today disclosing, under No
the Code in respect
of any other party to this offer?
-------------------------------------------------------------------------- ------------------------------------------
2. POSITIONS OF THE PARTY TO THE OFFER MAKING THE DISCLOSURE
(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 1p each
-------------------------------------------------- ------------------------------------------
Interests Short positions
-------------------------------------------------- ---------------------- ------------------
Number % Number %
-------------------------------------------------- ------------- ------- ------------- ---
(1) Relevant securities owned and/or controlled: 31,791,207 29.9
-------------------------------------------------- ------------- ------- ------------- ---
(2) Derivatives (other than options):
-------------------------------------------------- ------------- ------- ------------- ---
(3) Options and agreements to purchase/sell:
-------------------------------------------------- ------------- ------- ------------- ---
TOTAL: 31,791,207 29.9
-------------------------------------------------- ------------- ------- ------------- ---
(b) Rights to subscribe for new securities
Class of relevant security: 10% Secured Convertible Fixed Rate Loan Notes of GBP1 each, repayable on 19 November
2015
------------------------------- -------------------------------------------------------------------------------------
Interests Short positions
------------------------------- ---------------------------------------------------- -------------------------------
Number % Number %
------------------------------- ------------------------------ -------------------- ----------------------- ------
(1) Relevant securities owned
and/or controlled: 8,500,000 100
------------------------------- ------------------------------ -------------------- ----------------------- ------
(2) Derivatives (other than
options):
------------------------------- ------------------------------ -------------------- ----------------------- ------
(3) Options and agreements to
purchase/sell:
------------------------------- ------------------------------ -------------------- ----------------------- ------
TOTAL: 8,500,000 100
------------------------------- ------------------------------ -------------------- ----------------------- ------
Class of relevant security: 10% Guaranteed Convertible Fixed Rate Loan Notes of GBP1 each, repayable on 26 April
2016
----------------------------- ---------------------------------------------------------------------------------------
Interests Short positions
----------------------------- --------------------------------------------------- ----------------------------------
Number % Number %
----------------------------- ---------------------------- --------------------- ------------------------- -------
(1) Relevant securities
owned and/or controlled: 350,000 100
----------------------------- ---------------------------- --------------------- ------------------------- -------
(2) Derivatives (other than
options):
----------------------------- ---------------------------- --------------------- ------------------------- -------
(3) Options and agreements
to purchase/sell:
----------------------------- ---------------------------- --------------------- ------------------------- -------
TOTAL: 350,000 100
----------------------------- ---------------------------- --------------------- ------------------------- -------
Class of relevant security: Warrants over Ordinary Shares of 1p each exercisable at 24.5p per share between 17
November
2011 and 17 November 2016
---------------------------- ----------------------------------------------------------------------------------------
Interests Short positions
---------------------------- ---------------------------------------------------- ----------------------------------
Number % Number %
---------------------------- --------------------------- ----------------------- ------------------------- -------
(1) Relevant securities
owned and/or controlled: 408,163 100
---------------------------- --------------------------- ----------------------- ------------------------- -------
(2) Derivatives (other than
options):
---------------------------- --------------------------- ----------------------- ------------------------- -------
(3) Options and agreements
to purchase/sell:
---------------------------- --------------------------- ----------------------- ------------------------- -------
TOTAL: 408,163 100
---------------------------- --------------------------- ----------------------- ------------------------- -------
(c) Irrevocable commitments and letters of intent
Details of any irrevocable commitments or letters of intent procured by the party to the offer
making the disclosure or any person acting in concert with it (see Note 3 on Rule 2.11 of
the Code):
----------------------------------------------------------------------------------------------------
Definitions used in this disclosure are taken from the Rule 2.7 announcement issued by Pan
European Terminals plc ("Pan") and Belphar Ltd ("Belphar") on 21 May 2014.
Belphar has received irrevocable undertakings to accept (or procure acceptance of, as the
case may be) the Offer in respect of the following Pan Shares:
Pan Directors and Company Secretary
Name of Pan Shareholder Number of Percentage
Pan Shares* of issued
share capital
---------------------------- ------------- ---------------
Simon Leigh Escott 4,926,500 4.63%
---------------------------- ------------- ---------------
James Mark Colin Gilchrist 2,775,000 2.61%
---------------------------- ------------- ---------------
* This number includes the number of Pan Shares (if any) held by family members/trusts/nominees
of the relevant person to which the irrevocable also relates.
The irrevocable undertaking received from Mr Escott will remain binding in the event that
a third party makes a competing offer and will only cease to be binding in the event that
the Offer Document is not published within five Business Days of the date of the Rule 2.7
announcement or if the Offer lapses or is otherwise withdrawn.
The irrevocable undertaking received from Mr Gilchrist will remain binding in the event of
a competing offer being made unless the value of such competing offer is 25 pence or more
(where such competing offer has been announced as a firm intention to make an offer in accordance
with Rule 2.7 of the Code) or if the Offer Document is not published within 28 days of the
date of the Rule 2.7 announcement or the Offer lapses or is otherwise withdrawn.
Institutions
Belphar has received irrevocable undertakings to accept (or procure acceptance of, as the
case may be) the Offer in respect of the following Pan Shares from the following Institutional
Pan Shareholders: Name of Pan Shareholder Number of Percentage
Pan Shares* of issued
share capital
-------------------------- ------------- ---------------
Utilico Emerging Markets
Limited 17,030,464 16.02%
-------------------------- ------------- ---------------
Hawkwood Capital LLP 7,200,546 6.77%
-------------------------- ------------- ---------------
WorldOver Capital
LLP 5,140,167 4.83%
-------------------------- ------------- ---------------
Hurley Investment
Holdings Limited* 5,032,863 4.73%
-------------------------- ------------- ---------------
* - as nominee for K&S Baltic Offshore (Cyprus) Limited.
These undertakings will remain binding in the event of a competing offer being made unless
the value of such competing offer is 25 pence or more (where such competing offer has been
announced as a firm intention to make an offer in accordance with Rule 2.7 of the Code) or
if the Offer Document is not published within 28 days of the date of the Rule 2.7 announcement
or the Offer lapses or is otherwise withdrawn.
Accordingly, Belphar has received, in aggregate, irrevocable undertakings in respect of a
total of 42,105,540 Pan Shares, to accept its Offer representing approximately 39.60 per cent.
of Pan's issued share capital.
----------------------------------------------------------------------------------------------------
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:
------------------------------------------------------------------------------------------
N/A
------------------------------------------------------------------------------------------
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 3 for each additional class of
relevant security.
Details of any open derivative or option positions, 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:
If there are no such agreements, arrangements or understandings, state "none"
------------------------------------------------------------------------------------------------
None
------------------------------------------------------------------------------------------------
(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"
----------------------------------------------------------------------------------------------
None
----------------------------------------------------------------------------------------------
(c) Attachments
Are any Supplemental Forms attached?
Supplemental Form 8 (Open Positions) NO
------------------------------------- ---
Supplemental Form 8 (SBL) NO
------------------------------------- ---
Date of disclosure: 21 May 2014
--------------------- --------------
Contact name: Colin Pringle
--------------------- --------------
Telephone number: +33760248688
--------------------- --------------
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 dealing 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
FEEZFLFLZEFFBBL
Grafico Azioni Pan Euro (LSE:PAN)
Storico
Da Apr 2024 a Mag 2024
Grafico Azioni Pan Euro (LSE:PAN)
Storico
Da Mag 2023 a Mag 2024
