TIDMELE
RNS Number : 2354K
Electric Word PLC
05 July 2017
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: Electric Word 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: Electric Word 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: 4 July 2017
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 1 pence 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: N/A N/A
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(2) Cash-settled derivatives: N/A N/A
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(3) Stock-settled derivatives (including options) and agreements to N/A N/A
purchase/sell:
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N/A N/A
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: N/A
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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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(a) Interests of directors of Electric Word plc in ordinary shares of Electric Word plc:
Director Number of ordinary Percentage of
shares total issued
ordinary share
capital
--------------- ------------------- ----------------
Andrew Brode 7,200,000 1.8
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Julian Turner 12,650,275 3.1
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(b) Interests of directors of Electric Word plc in ordinary shares of Electric Word plc under
share options:
Director Maximum Exercise Vesting Expiry
number of price date date
ordinary (pence)
shares awarded
--------------- ---------------- --------- --------- ------------
Andrew Brode 11 December
(1) 2,748,291 1.5 Vested 2023
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11 December
7,403,429* 1.5 Unvested 2023
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Julian Turner 4 November
(2) 692,267 1.0 Vested 2017
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11 December
11,627,385 1.5 Vested 2023
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11 December
31,322,201* 1.5 Unvested 2023
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William
Fawbert 11 December
(3) 4,650,954 1.5 Vested 2023
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11 December
12,528,880* 1.5 Unvested 2023
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Note: * options vest upon the average mid-market closing price of the Shares being equal to
or above certain share price levels as set out below for a continuous period of at least 4
months, or on the occurrence of an Offer, Winding-up, Demerger or Assets Sale of Electric
Word plc being equal to or above certain share price levels as set out below
(1) at 3.5 pence - 2,748,291; at 5.0 pence - 4,863,556; at 6 pence - 6,185,597; at 7 pence
- 7,507,638; at 8 pence - 8,829,679; at 9 pence - 10,151,720 (all amounts aggregated)
(2) at 3.5 pence - 11,627,385; at 5.0 pence - 20,576,585; at 6 pence - 26,169,835; at 7 pence
- 31,763,086; at 8 pence - 37,356,336; at 9 pence - 42,949,586 (all amounts aggregated)
(3) at 3.5 pence - 4,650,954; at 5.0 pence - 8,230,634; at 6 pence - 10,467,934; at 7 pence
- 12,705,234; at 8 pence - 14,942,534; at 9 pence - 17,179,834 (all amounts aggregated)
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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: 4 July 2017
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Contact name: Will Fawbert
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Telephone number: 020 7265 4100
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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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