Redstone PLC Redstone plc Form 8 (OPD) Maxima Holdings plc (4422M)
September 17 2012 - 9:31AM
UK Regulatory
TIDMRED TIDMMXM
RNS Number : 4422M
Redstone PLC
17 September 2012
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: Redstone Plc ("Redstone")
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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
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(c) Name of offeror/offeree in relation to whose relevant securities this form Maxima Holdings plc ("Maxima")
relates:
Use a separate form for each party to the offer
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(d) Is the party to the offer making the disclosure the offeror or the offeree? OFFEROR
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(e) Date position held: 17 September 2012
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(f) Has the party previously disclosed, or is it today disclosing, under the Code in Yes
respect
of any other party to this offer?
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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:
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Interests Short positions
------------------------------------------------- ------------ ------------------
Number % Number %
------------------------------------------------- -------- ------------- ---
(1) Relevant securities owned and/or controlled: Nil Nil
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(2) Derivatives (other than options): Nil Nil
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(3) 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 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).
(b) Rights to subscribe for new securities
Class of relevant security in relation to which subscription right exists: Nil
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Details, including nature of the rights concerned and relevant percentages: Nil
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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.
(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):
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The following shareholders in Maxima have given irrevocable commitments to vote or procure
the vote in favour of the scheme of arrangement ("Scheme") at the court meeting and the special
resolution to be proposed at the general meeting of Maxima in order for the offer for Maxima
by Redstone to complete in relation to the following ordinary shares of 1 penny each ("Shares")
in the share capital of Maxima.
Maxima Directors No of Shares %
Michael Brooke - Senior Independent Director 32,730 0.09%
David Memory - Finance Director 56,588 0.16%
Robin Williams - Non Executive Director 60,000 0.17%
MXC Capital (representing the interests
of Ian Smith, Executive Chairman) and
Ian Smith's self invested personal pension
plan 3,433,333 9.74%
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3,582,651 10.16%
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Other Maxima Shareholders No of Shares %
Kelvin Harrison 3,546,026 10.06%
Marlborough Fund Managers 3,089,345 8.76%
Artemis Alpha Trust plc 3,100,000 8.79%
Unicorn AIM VCT 1,818,691 5.16%
11,554,062 32.77%
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The irrevocable undertakings given by the Maxima Directors remain binding in all circumstances,
including in the event of a higher offer for Maxima being announced, unless the Scheme lapses
or is withdrawn.
The irrevocable undertakings given by the institutional shareholders are binding in all circumstances
except in the event of a higher competing offer for Maxima being announced, which comprises:
* a cash offer (or a cash or partial cash alternative
to any securities exchange offer) in the equivalent
or greater proportion per Maxima Share offered by
Redstone and the value of such offer at the date of
its announcement exceeds by more than ten per cent
the value of the offer by Redstone; or
* a securities exchange offer (without a cash
alternative) involving the issue of securities of a
class already admitted to trading on a securities
exchange or market in the United Kingdom, the value
of which as at the date of its announcement exceeds
by more than ten per cent. the value of the offer by
Redstone,
or if the Scheme does not become effective, lapses or is withdrawn.
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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 of any person acting in
concert with the party to the offer making the disclosure:
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The following directors of Redstone hold the following number of ordinary shares of 1 penny
each in the share capital of Maxima:
MXC Capital (representing the interests
of Ian Smith, Executive Chairman) and
Ian Smith's self invested personal pension
plan 3,433,333 9.74%
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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"
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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: 17 September 2012
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Contact name: Richard Ramsay
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Telephone number: 07949 217798
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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 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
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