TIDMSTY
RNS Number : 7626A
Central Square Holdings Limited
02 January 2018
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: Central Square Holdings Limited
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(b) Owner or controller of interests and short positions disclosed, if different N/A
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 form Styles & Wood Group plc
relates:
Use a separate form for each offeror/offeree
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(d) Is the discloser the offeror or the offeree? OFFEROR
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(e) Date position held: 1 January 2018
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 N/A
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
----------------------------------------------------------------------------------- ------------ ------------------
Number % Number %
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(1) Relevant securities owned and/or controlled: Nil - Nil -
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(2) Cash-settled derivatives: Nil - Nil -
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(3) Stock-settled derivatives (including options) and agreements to purchase/sell: Nil - Nil -
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Nil - Nil -
TOTAL:
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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: N/A
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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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The following persons are deemed to be acting in concert with the Offeror and their interests
in the Offeree are disclosed accordingly:
No. of ordinary % of issued
shares share capital
---------------------- ---------------- ---------------
Steve Parkin Nil -
---------------------- ---------------- ---------------
David Hodkin Nil -
---------------------- ---------------- ---------------
Guy Jackson Nil -
---------------------- ---------------- ---------------
CentraI Square Nil -
Investments LLP
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Gurnaik Chima Nil -
---------------------- ---------------- ---------------
George Turner Nil -
---------------------- ---------------- ---------------
Andrew Kendall-Jones Nil -
---------------------- ---------------- ---------------
Paul Mitchell 47,676 0.55%
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Anthony Lenehan 24,688 0.28%
---------------------- ---------------- ---------------
Philip Lanigan 12,413 0.14%
---------------------- ---------------- ---------------
Paul Lonsdale Nil -
---------------------- ---------------- ---------------
Andrew Shaw 2,171 0.02%
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Karen Morley 190 0.002%
---------------------- ---------------- ---------------
Martin Ward 4,850 0.06%
---------------------- ---------------- ---------------
In addition, certain members of the above concert party have further interests in the Offeree
as follows:
Styles & Wood plc 2016 Long Term Incentive Plan ("LTIP")
Awards were granted on 1 June 2016 following shareholder approval on 26 January 2016. The
entitlement to participate in LTIP will crystallise upon the occurrence of an offer for the
Company.
Maximum number of Maximum "vesting Number of Styles &
Styles & Wood value" based on share Wood Ordinary Shares
Ordinary Shares in price at full vesting in respect of LTIP at
respect of which the of at least GBP2.75 the Offer Price
LTIP award may vest
----------------- --------------------- ---------------------- ----------------------
Anthony Lenehan 270,235 GBP743,146.42 159,816
----------------- --------------------- ---------------------- ----------------------
Philip Lanigan 154,420 GBP424,655.10 91,323
----------------- --------------------- ---------------------- ----------------------
Paul Lonsdale 115,815 GBP318,491.32 68,492
----------------- --------------------- ---------------------- ----------------------
Andrew Shaw 77,210 GBP212,327.55 45,661
----------------- --------------------- ---------------------- ----------------------
Karen Morley 77,210 GBP212,327.55 45,661
----------------- --------------------- ---------------------- ----------------------
Martin Ward 77,210 GBP212,327.55 45,661
----------------- --------------------- ---------------------- ----------------------
Hurdle Shares
Allotted following shareholder approval on 26 January 2016. The value to be attributed to
the holders of the Hurdle Shares in such circumstances shall be equal to:
(a) 20 per cent. of the amount by which the share price for an Ordinary Share exceeds GBP2.75
(up to GBP4.25); and
(b) 10 per cent. of the amount by which the share price for an Ordinary Share exceeds GBP4.25,
Number of Hurdle Value at the
Shares Offer Price
of GBP4.65
---------------- ----------------- --------------
Anthony Lenehan 3,500 GBP842,232.61
---------------- ----------------- --------------
Philip Lanigan 2,000 GBP481,275.78
---------------- ----------------- --------------
Paul Lonsdale 1,500 GBP360,956.83
---------------- ----------------- --------------
Andrew Shaw 1,000 GBP240,637.89
---------------- ----------------- --------------
Karen Morley 1,000 GBP240,637.89
---------------- ----------------- --------------
Martin Ward 1,000 GBP240,637.89
---------------- ----------------- --------------
Upon the occurrence of an offer for the Company ("Sale"), the Hurdle Shares will have the
right to participate for cash in the case of a Sale.
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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: 2 January 2018
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Contact name: David Hodkin
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Telephone number: +44 (0) 113 205 1552
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Public disclosures under Rule 8 of the Code must be made to a
Regulatory Information Service.
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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