TIDMWTM
RNS Number : 1184I
Waterman Group PLC
14 June 2017
14 June 2017
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY IN OR INTO ANY JURISDICTION WHERE TO
DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH
JURISDICTION. THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.
Waterman Group PLC
("Waterman" or the "Company")
Cancellation and Exercise of Options
Waterman Group plc, a leading engineering and environmental
consultancy, notes the announcement released by CTI Engineering
Co., Ltd ("CTI") earlier today, in connection with its recommended
cash offer for the Company (the "Offer"), in which it confirmed
that it had acquired or received valid acceptances representing
more than 75 per cent. of the voting rights attaching to Waterman
shares.
Exercise of LTIP options
As a result of CTI holding over 50 per cent. of the voting
rights attaching to Waterman shares, the Company confirms that
certain of the options issued pursuant to the Waterman Long Term
Incentive Plan 2014 (the "LTIP") have now become exercisable, being
upon a change of control of the Company. Accordingly, Nick Taylor,
Chief Executive Officer, Alex Steele, Chief Financial Officer,
Craig Beresford, Chief Operating Officer (Property) (each a
director of the Company) and Neil Humphrey, Chief Operating Officer
(Infrastructure and Environment) (a PDMR of the Company) (together,
the "Management"), have exercised the nil-cost options detailed in
the table below, as a result of which the Company has issued
1,280,000 new Waterman ordinary shares ("Ordinary Shares").
Name No. of Ordinary
Shares issued pursuant
to exercise of options
Nick Taylor 512,000
Alex Steele 256,000
Craig Beresford 256,000
Neil Humphrey 256,000
In addition, pursuant to the triggering of the change of control
provision in respect of the nil-cost LTIP options held by certain
employees of the Company, Waterman has issued a further 1,260,000
Ordinary Shares to employees of the Company. Following the exercise
of LTIP options by Management and other employees of the Company,
the total number of Ordinary Shares issued is 2,540,000.
The Company confirms that all of these new Ordinary Shares were,
immediately upon issue, transferred to the LTIP option holders.
These individuals immediately then sold these new Ordinary Shares
to CTI under the Offer at the Offer price of 140p per new Ordinary
Share.
Cancellation
Waterman confirms that CTI has requested that application is
made to the London Stock Exchange and the UKLA for the
cancellation, respectively, of trading in the Ordinary Shares on
the London Stock Exchange's Main Market for listed securities and
of the listing of Waterman Shares on the premium segment of the
Official List ("Cancellation").
As noted in the document published in connection with the Offer
(the "Offer Document"), Waterman shareholders will be given a
notice period of not less than 20 business days of Cancellation.
The Cancellation is expected to take effect from 8.00 a.m. on 13
July 2017. After this time, the Ordinary Shares will no longer be
admitted to trading on the Main Market of the London Stock
Exchange.
Total voting rights
The new Ordinary Shares will rank pari passu with the Company's
existing Ordinary Shares. Following the issue of the new Ordinary
Shares, the Company's issued share capital consists of 33,298,824
Ordinary Shares, each carrying one voting right. The Company does
not hold any Ordinary Shares in treasury. This figure may be used
by shareholders as the denominator for the calculations by which
they will determine if they are required to notify their interest
in, or a change to their interest in, the Company under the FCA's
Disclosure Guidance and Transparency Rules.
In view of the intended Cancellation and the immediate transfer
to CTI of the new Ordinary Shares, as detailed above, it is not
intended that the new Ordinary Shares be admitted to trading on the
Main Market of the London Stock Exchange or to listing on the
Official List of the UKLA.
The notifications below, made in accordance with the
requirements of the EU Market Abuse Regulation, provide further
detail.
Unless otherwise defined in this announcement, terms defined in
the Offer Document have the same meaning in this announcement.
For further information, call:
Waterman Group plc
Marie-Anne Culnane, Company Secretary
033-0060-4808
www.watermangroup.com
N+1 Singer
Sandy Fraser / Lauren Kettle
020-7496-3000
1 Details of the person discharging managerial
responsibilities / person closely associated
--- ----------------------------------------------------------
a) Name Nick Taylor
--- ------------------------- -------------------------------
2 Reason for the notification
--- ----------------------------------------------------------
a) Position/status Chief Executive Officer (PDMR)
--- ------------------------- -------------------------------
b) Initial notification Initial
/Amendment
--- ------------------------- -------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- ----------------------------------------------------------
a) Name Waterman Group plc
--- ------------------------- -------------------------------
b) LEI 213800KDXZ8ZTL191U40
--- ------------------------- -------------------------------
4 Details of the transaction(s): section to
be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv) each place where transactions
have been conducted
--- ----------------------------------------------------------
a) Description of
the financial Ordinary Shares of 10p each
instrument, type
of instrument GB0009422543
Identification
code
--- ------------------------- -------------------------------
b) Nature of the Exercise of options
transaction
--- ------------------------- -------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
---------- ----------
Nil 512,000
---------- ----------
--- ------------------------- -------------------------------
d) Aggregated information N/A (individual transaction)
- Aggregated volume
- Price
--- ------------------------- -------------------------------
e) Date of the transaction 14 June 2017
--- ------------------------- -------------------------------
f) Place of the transaction Off-market
--- ------------------------- -------------------------------
1 Details of the person discharging managerial
responsibilities / person closely associated
--- ----------------------------------------------------------
a) Name Nick Taylor
--- ------------------------- -------------------------------
2 Reason for the notification
--- ----------------------------------------------------------
a) Position/status Chief Executive Officer (PDMR)
--- ------------------------- -------------------------------
b) Initial notification Initial
/Amendment
--- ------------------------- -------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- ----------------------------------------------------------
a) Name Waterman Group plc
--- ------------------------- -------------------------------
b) LEI 213800KDXZ8ZTL191U40
--- ------------------------- -------------------------------
4 Details of the transaction(s): section to
be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv) each place where transactions
have been conducted
--- ----------------------------------------------------------
a) Description of
the financial Ordinary Shares of 10p each
instrument, type
of instrument GB0009422543
Identification
code
--- ------------------------- -------------------------------
b) Nature of the Sale of shares
transaction
--- ------------------------- -------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
--------- ----------
140p 512,000
--------- ----------
--- ------------------------- -------------------------------
d) Aggregated information N/A (individual transaction)
- Aggregated volume
- Price
--- ------------------------- -------------------------------
e) Date of the transaction 14 June 2017
--- ------------------------- -------------------------------
f) Place of the transaction Off-market
--- ------------------------- -------------------------------
1 Details of the person discharging managerial
responsibilities / person closely associated
--- ----------------------------------------------------------
a) Name Alex Steele
--- ------------------------- -------------------------------
2 Reason for the notification
--- ----------------------------------------------------------
a) Position/status Chief Financial Officer (PDMR)
--- ------------------------- -------------------------------
b) Initial notification Initial
/Amendment
--- ------------------------- -------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- ----------------------------------------------------------
a) Name Waterman Group plc
--- ------------------------- -------------------------------
b) LEI 213800KDXZ8ZTL191U40
--- ------------------------- -------------------------------
4 Details of the transaction(s): section to
be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv) each place where transactions
have been conducted
--- ----------------------------------------------------------
a) Description of
the financial Ordinary Shares of 10p each
instrument, type
of instrument GB0009422543
Identification
code
--- ------------------------- -------------------------------
b) Nature of the Exercise of options
transaction
--- ------------------------- -------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
---------- ----------
Nil 256,000
---------- ----------
--- ------------------------- -------------------------------
d) Aggregated information N/A (individual transaction)
- Aggregated volume
- Price
--- ------------------------- -------------------------------
e) Date of the transaction 14 June 2017
--- ------------------------- -------------------------------
f) Place of the transaction Off-market
--- ------------------------- -------------------------------
1 Details of the person discharging managerial
responsibilities / person closely associated
--- ----------------------------------------------------------
a) Name Alex Steele
--- ------------------------- -------------------------------
2 Reason for the notification
--- ----------------------------------------------------------
a) Position/status Chief Financial Officer (PDMR)
--- ------------------------- -------------------------------
b) Initial notification Initial
/Amendment
--- ------------------------- -------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- ----------------------------------------------------------
a) Name Waterman Group plc
--- ------------------------- -------------------------------
b) LEI 213800KDXZ8ZTL191U40
--- ------------------------- -------------------------------
4 Details of the transaction(s): section to
be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv) each place where transactions
have been conducted
--- ----------------------------------------------------------
a) Description of
the financial Ordinary Shares of 10p each
instrument, type
of instrument GB0009422543
Identification
code
--- ------------------------- -------------------------------
b) Nature of the Sale of shares
transaction
--- ------------------------- -------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
--------- ----------
140p 256,000
--------- ----------
--- ------------------------- -------------------------------
d) Aggregated information N/A (individual transaction)
- Aggregated volume
- Price
--- ------------------------- -------------------------------
e) Date of the transaction 14 June 2017
--- ------------------------- -------------------------------
f) Place of the transaction Off-market
--- ------------------------- -------------------------------
1 Details of the person discharging managerial
responsibilities / person closely associated
--- --------------------------------------------------------------
a) Name Craig Beresford
--- ------------------------- -----------------------------------
2 Reason for the notification
--- --------------------------------------------------------------
a) Position/status Chief Operating Officer (Property)
(PDMR)
--- ------------------------- -----------------------------------
b) Initial notification Initial
/Amendment
--- ------------------------- -----------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- --------------------------------------------------------------
a) Name Waterman Group plc
--- ------------------------- -----------------------------------
b) LEI 213800KDXZ8ZTL191U40
--- ------------------------- -----------------------------------
4 Details of the transaction(s): section to
be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv) each place where transactions
have been conducted
--- --------------------------------------------------------------
a) Description of
the financial Ordinary Shares of 10p each
instrument, type
of instrument GB0009422543
Identification
code
--- ------------------------- -----------------------------------
b) Nature of the Exercise of options
transaction
--- ------------------------- -----------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
---------- ----------
Nil 256,000
---------- ----------
--- ------------------------- -----------------------------------
d) Aggregated information N/A (individual transaction)
- Aggregated volume
- Price
--- ------------------------- -----------------------------------
e) Date of the transaction 14 June 2017
--- ------------------------- -----------------------------------
f) Place of the transaction Off-market
--- ------------------------- -----------------------------------
1 Details of the person discharging managerial
responsibilities / person closely associated
--- --------------------------------------------------------------
a) Name Craig Beresford
--- ------------------------- -----------------------------------
2 Reason for the notification
--- --------------------------------------------------------------
a) Position/status Chief Operating Officer (Property)
(PDMR)
--- ------------------------- -----------------------------------
b) Initial notification Initial
/Amendment
--- ------------------------- -----------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- --------------------------------------------------------------
a) Name Waterman Group plc
--- ------------------------- -----------------------------------
b) LEI 213800KDXZ8ZTL191U40
--- ------------------------- -----------------------------------
4 Details of the transaction(s): section to
be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv) each place where transactions
have been conducted
--- --------------------------------------------------------------
a) Description of
the financial Ordinary Shares of 10p each
instrument, type
of instrument GB0009422543
Identification
code
--- ------------------------- -----------------------------------
b) Nature of the Sale of shares
transaction
--- ------------------------- -----------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
--------- ----------
140p 256,000
--------- ----------
--- ------------------------- -----------------------------------
d) Aggregated information N/A (individual transaction)
- Aggregated volume
- Price
--- ------------------------- -----------------------------------
e) Date of the transaction 14 June 2017
--- ------------------------- -----------------------------------
f) Place of the transaction Off-market
--- ------------------------- -----------------------------------
1 Details of the person discharging managerial
responsibilities / person closely associated
--- -------------------------------------------------------------------
a) Name Neil Humphrey
--- ------------------------- ----------------------------------------
2 Reason for the notification
--- -------------------------------------------------------------------
a) Position/status Chief Operating Officer (Infrastructure
& Environment) (PDMR)
--- ------------------------- ----------------------------------------
b) Initial notification Initial
/Amendment
--- ------------------------- ----------------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- -------------------------------------------------------------------
a) Name Waterman Group plc
--- ------------------------- ----------------------------------------
b) LEI 213800KDXZ8ZTL191U40
--- ------------------------- ----------------------------------------
4 Details of the transaction(s): section to
be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv) each place where transactions
have been conducted
--- -------------------------------------------------------------------
a) Description of
the financial Ordinary Shares of 10p each
instrument, type
of instrument GB0009422543
Identification
code
--- ------------------------- ----------------------------------------
b) Nature of the Exercise of options
transaction
--- ------------------------- ----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
---------- ----------
Nil 256,000
---------- ----------
--- ------------------------- ----------------------------------------
d) Aggregated information N/A (individual transaction)
- Aggregated volume
- Price
--- ------------------------- ----------------------------------------
e) Date of the transaction 14 June 2017
--- ------------------------- ----------------------------------------
f) Place of the transaction Off-market
--- ------------------------- ----------------------------------------
1 Details of the person discharging managerial
responsibilities / person closely associated
--- -------------------------------------------------------------------
a) Name Neil Humphrey
--- ------------------------- ----------------------------------------
2 Reason for the notification
--- -------------------------------------------------------------------
a) Position/status Chief Operating Officer (Infrastructure
& Environment) (PDMR)
--- ------------------------- ----------------------------------------
b) Initial notification Initial
/Amendment
--- ------------------------- ----------------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- -------------------------------------------------------------------
a) Name Waterman Group plc
--- ------------------------- ----------------------------------------
b) LEI 213800KDXZ8ZTL191U40
--- ------------------------- ----------------------------------------
4 Details of the transaction(s): section to
be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv) each place where transactions
have been conducted
--- -------------------------------------------------------------------
a) Description of
the financial Ordinary Shares of 10p each
instrument, type
of instrument GB0009422543
Identification
code
--- ------------------------- ----------------------------------------
b) Nature of the Sale of shares
transaction
--- ------------------------- ----------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
--------- ----------
140p 256,000
--------- ----------
--- ------------------------- ----------------------------------------
d) Aggregated information N/A (individual transaction)
- Aggregated volume
- Price
--- ------------------------- ----------------------------------------
e) Date of the transaction 14 June 2017
--- ------------------------- ----------------------------------------
f) Place of the transaction Off-market
--- ------------------------- ----------------------------------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCLLFLRRSISLID
(END) Dow Jones Newswires
June 14, 2017 12:16 ET (16:16 GMT)
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