Brit PLC Amended Opening Position Disclosure - 1(c) (4114G)
March 03 2015 - 7:52AM
UK Regulatory
TIDMBRIT
RNS Number : 4114G
Brit PLC
03 March 2015
FORM 8 (OPD)
This revised Opening Position Disclosure contains one amendment
only, which is to change "Fairfax Financial Holdings Limited" to
"Brit PLC" in paragraph 1(c).
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: Brit PLC
--------------------------------------------------------------------------------------------- -------------
(b) Owner or controller of interests and short positions disclosed, if different from 1(a): NA
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 relates: Brit PLC
Use a separate form for each offeror/offeree
--------------------------------------------------------------------------------------------- -------------
(d) Is the discloser the offeror or the offeree? OFFEREE
--------------------------------------------------------------------------------------------- -------------
(e) Date position held: 2 March 2015
The latest practicable date prior to the disclosure
--------------------------------------------------------------------------------------------- -------------
(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"
--------------------------------------------------------------------------------------------- -------------
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
----------------------------------------------------------------------------------- --------------------------------
Interests Short positions
----------------------------------------------------------------------------------- ------------ ------------------
Number % Number %
----------------------------------------------------------------------------------- -------- ------------- ---
(1) Relevant securities owned and/or controlled: Nil Nil
----------------------------------------------------------------------------------- -------- ------------- ---
(2) Cash-settled derivatives: Nil Nil
----------------------------------------------------------------------------------- -------- ------------- ---
(3) Stock-settled derivatives (including options) and agreements to purchase/sell: Nil Nil
----------------------------------------------------------------------------------- -------- ------------- ---
Nil Nil
TOTAL:
----------------------------------------------------------------------------------- -------- ------------- ---
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: Nil
---------------------------------------------------------------------------- ----
Details, including nature of the rights concerned and relevant percentages: Nil
---------------------------------------------------------------------------- ----
3. POSITIONS OF PERSONS ACTING IN CONCERT WITH THE PARTY TO THE OFFER MAKING THE DISCLOSURE
3.1 Shares held by the directors of Brit PLC
SHARE OF ORDINARY 1P SHARES
---------------------------------------------
Number %
--------------------- ------------ --------
Mark Cloutier 1,204,813 0.3%
--------------------- ------------ --------
Dr Richard Ward 102,750 0.03%
--------------------- ------------ --------
Hans-Peter Gerhardt 79,594 0.02%
--------------------- ------------ --------
TOTAL 1,387,157 0.35%
--------------------- ------------ --------
3.2 Conditional awards over ordinary shares of Brit PLC held by the directors of Brit PLC
Director
Number of 1p ordinary shares Vesting Terms
-------------- ------------------------------ ----------------------------------------------------------------------
Conditional awards of ordinary shares under the Brit PLC All-Employee Share Plan
----------------------------------------------------------------------------------------------------------------------
Mark Cloutier These awards are subject to a three-year holding period, expiring on
1,490 24 June 2017, but the
holder may, during this period, direct the trustee to accept an offer
of cash made as part
of a takeover offer.
-------------- ------------------------------ ----------------------------------------------------------------------
Conditional awards of ordinary shares under the Brit PLC Long-Term Incentive Plan
----------------------------------------------------------------------------------------------------------------------
Mark Cloutier Ordinarily, 50% of the awards vest on 16 September 2017, a further
25% on 16 September 2018
and the final 25% on 16 September 2019. On a change of control,
outstanding awards will vest
219,406 on the date that the takeover offer becomes unconditional in all
respects, to the extent determined
by the Board in accordance with the rules of the Plan.
-------------- ------------------------------ ----------------------------------------------------------------------
TOTAL 220,896 N/A
-------------- ------------------------------ ----------------------------------------------------------------------
3.3 Share interests of connected advisors
J.P. Morgan Cazenove
Class of relevant security: ORD 1P
------------------------------------------------- --------------------------------
Interests Short positions
------------------------------------------------- ------------ ------------------
Number % Number %
------------------------------------------------- -------- ------------- ---
(1) Relevant securities owned and/or controlled: Nil Nil
------------------------------------------------- -------- ------------- ---
(2) Derivatives (other than options): Nil Nil
------------------------------------------------- -------- ------------- ---
(3) Options and agreements to purchase/sell: Nil Nil
------------------------------------------------- -------- ------------- ---
TOTAL: Nil Nil
------------------------------------------------- -------- ------------- ---
Willis Capital Markets & Advisory Limited
Class of relevant security: ORD 1P
------------------------------------------------- --------------------------------
Interests Short positions
------------------------------------------------- ------------ ------------------
Number % Number %
------------------------------------------------- -------- ------------- ---
(1) Relevant securities owned and/or controlled: Nil Nil
------------------------------------------------- -------- ------------- ---
(2) Derivatives (other than options): Nil Nil
------------------------------------------------- -------- ------------- ---
(3) Options and agreements to purchase/sell: Nil Nil
------------------------------------------------- -------- ------------- ---
TOTAL: Nil Nil
------------------------------------------------- -------- ------------- ---
Numis Securities Limited
Class of relevant security: ORD 1P
------------------------------------------------- --------------------------------
Interests Short positions
------------------------------------------------- ------------ ------------------
Number % Number %
------------------------------------------------- -------- ------------- ---
(1) Relevant securities owned and/or controlled: Nil Nil
------------------------------------------------- -------- ------------- ---
(2) Derivatives (other than options): Nil Nil
------------------------------------------------- -------- ------------- ---
(3) Options and agreements to purchase/sell: Nil Nil
------------------------------------------------- -------- ------------- ---
TOTAL: Nil Nil
------------------------------------------------- -------- ------------- ---
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"
------------------------------------------------------------------------------------------------
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: 3 March 2015
--------------------- ------------------------
Contact name: David Gormley, Brit PLC
--------------------- ------------------------
Telephone number: +44 (0)20 7 984 8500
--------------------- ------------------------
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
FEEJJMTTMBIMBLA
Tellworth British Recove... (LSE:BRIT)
Historical Stock Chart
From Jun 2024 to Jul 2024
Tellworth British Recove... (LSE:BRIT)
Historical Stock Chart
From Jul 2023 to Jul 2024
