TIDMPGC

RNS Number : 3360A

ESWC Acquisitions Limited

29 March 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:                                  ESWC Acquisitions Ltd 
---------------------------------------------------------------------------------------------  ---------------------- 
 (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 
---------------------------------------------------------------------------------------------  ---------------------- 
 (c) Name of offeror/offeree in relation to whose relevant securities this form relates:        Prologic PLC 
  Use a separate form for each party to the offer 
---------------------------------------------------------------------------------------------  ---------------------- 
 (d) Is the party to the offer making the disclosure the offeror or the offeree?                OFFEROR 
---------------------------------------------------------------------------------------------  ---------------------- 
 (e) Date position held:                                                                        29/03/2012 
---------------------------------------------------------------------------------------------  ---------------------- 
 (f) Has the party previously disclosed, or is it today disclosing, under the Code in respect   NO 
  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: 
--------------------------------------------------  --------------------------------- 
                                                      Interests      Short positions 
--------------------------------------------------  -------------  ------------------ 
                                                      Number    %      Number      % 
--------------------------------------------------  ---------      -------------  --- 
 (1) Relevant securities owned and/or controlled:      NIL      0       NIL        0 
--------------------------------------------------  ---------      -------------  --- 
 (2) Derivatives (other than options):                 NIL      0       NIL        0 
--------------------------------------------------  ---------      -------------  --- 
 (3) Options and agreements to purchase/sell:          NIL      0       NIL        0 
--------------------------------------------------  ---------      -------------  --- 
 
  TOTAL:                                               NIL      0       NIL        0 
--------------------------------------------------  ---------      -------------  --- 
 

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 
----------------------------------------------------------------------------  ---- 
 Details, including nature of the rights concerned and relevant percentages:   NIL 
----------------------------------------------------------------------------  ---- 
 

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): 
------------------------------------------------------------------------------------------------ 
 
  Definitions in this disclosure are taken from the 2.7 announcement issued by ESWC Acquisitions 
  Limited ("ESWC") on 29 March 2012. 
 
  ESWC has received irrevocable undertakings to accept the Offer in respect of the following 
  shares: 
 
  Shareholder No. of shares % capital 
 
  Sam Jackson 2,278,728 22.79% 
  David Parry 185,256 1.85% 
  Colin Wells 100,000 1.00% 
  ISIS Equity Partners 1,500,100 15.00% 
  Unicorn Asset Management 1,075,200 10.75% 
  Monica Tourlamain 905,094 9.05% 
  Christina Baker 905,094 9.05% 
  Northern 3 VCT PLC 400,000 4.00% 
  Gareth Chick 100,000 1.00% 
 
  TOTAL 7,449,472 74.49% 
------------------------------------------------------------------------------------------------ 
 
 
   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: 
------------------------------------------------------------------------------------------ 
 
  None 
------------------------------------------------------------------------------------------ 
 

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 other than as set out in 2(c) 
------------------------------------------------------------------------------------------------ 
 
   (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:    29/03/2012 
---------------------  ---------------- 
 Contact name:          Andrew Price 
---------------------  ---------------- 
 Telephone number:      +1 512 524 6149 
---------------------  ---------------- 
 

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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