Caledonia Investments PLC Share Purchase by Caledonia Employee Share Trust (8288N)
26 Septiembre 2019 - 7:19AM
UK Regulatory
TIDMCLDN
RNS Number : 8288N
Caledonia Investments PLC
26 September 2019
Caledonia Investments plc
Share purchase by the Caledonia Investments plc Employee Share
Trust
Caledonia Investments plc ("Caledonia" or the "Company")
announces that, on 26 September 2019, the Caledonia Investments plc
Employee Share Trust (the "Employee Share Trust") purchased 100,000
shares in Caledonia from The Cayzer Trust Company Limited ("Cayzer
Trust") at a price of 3012.63p per share. The transaction was
conducted on exchange at the volume-weighted average price for the
Company's shares at midday on the day of execution.
Financed by an interest free loan from Caledonia, the Employee
Share Trust acquires and holds shares in the Company for subsequent
transfer to Caledonia employees who are beneficiaries of the
Employee Share Trust and who participate in the Company's
share-based incentive plans. The Employee Share Trust is deemed by
the Panel on Takeovers and Mergers to be a member of the Cayzer
family concert party ("Concert Party"), which in aggregate owns
48.44% of Caledonia's total voting rights. Consequently, due to the
restrictions imposed by Rule 9 of the City Code on Takeovers and
Mergers ("Code"), the Employee Share Trust has a very limited
ability to acquire Caledonia shares, other than from other members
of the Concert Party.
Prior to the above transaction, the Employee Share Trust held
438,707 Caledonia shares and there are currently awards over
1,108,774 shares outstanding under the Company's incentive plans.
In view of the Code restrictions, and in order to assist the
Employee Share Trust in maintaining sufficient Caledonia shares to
satisfy such awards for the foreseeable future, Cayzer Trust, a
fellow member of the Concert Party, offered to sell a small part of
its shareholding to the Employee Share Trust.
Following the transaction, the Employee Share Trust owns 538,707
shares in Caledonia, representing 0.97% of the Company's total
voting rights. Cayzer Trust's shareholding in Caledonia has reduced
from 19,472,364 shares to 19,372,364 shares, being from 35.17% to
34.98% of the total voting rights. The Concert Party's overall
holding in Caledonia remains unchanged.
26 September 2019
Contacts for enquiries:
Caledonia Investments plc
Graeme Denison (Company Secretary)
Tel: +44 20 7802 8080
Tulchan Communications
Tom Murray
Tel: +44 20 7353 4200
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END
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September 26, 2019 08:19 ET (12:19 GMT)
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