Seraphine Group PLC Form 8 (OPD) - Seraphine Group PLC (6126O)
01 Febrero 2023 - 6:11AM
UK Regulatory
TIDMBUMP
RNS Number : 6126O
Seraphine Group PLC
01 February 2023
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: Seraphine Group PLC
(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.
--------------------
(c) Name of offeror/offeree in relation to whose relevant securities this form relates: Seraphine Group PLC
Use a separate form for each offeror/offeree
--------------------
(d) Is the discloser the offeror or the offeree? OFFEREE
--------------------
(e) Date position held: 31 January 2023
The latest practicable date prior to the disclosure
--------------------
(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"
--------------------
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:
Interests Short positions
------------- ------------------
Number % Number %
------- ---- ----------- -----
(1) Relevant securities owned and/or controlled: Nil Nil Nil Nil
------- ---- ----------- -----
(2) Cash-settled derivatives: Nil Nil Nil Nil
------- ---- ----------- -----
(3) Stock-settled derivatives (including options) and agreements to purchase/sell: Nil Nil Nil Nil
------- ---- ----------- -----
Nil Nil Nil Nil
TOTAL:
------- ---- ----------- -----
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: None
Details, including nature of the rights concerned and relevant percentages: N/A
-----
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:
Ordinary shares:
Person Role No. of ordinary Percentage
shares holding
Creative and
Chelsey Oliver Brand Director 919,614 1.80%
-------------------- ---------------- -----------
Chief Executive
David Williams Officer 2,699,523 5.30%
-------------------- ---------------- -----------
Non-Executive
Sarah Highfield Director 10,169 0.01%
-------------------- ---------------- -----------
Sharon Flood
and persons Non-Executive
closely associated Chair 342,706 0.67%
-------------------- ---------------- -----------
Senior Independent
Non-Executive
William Ronald Director 63,090 0.12%
-------------------- ---------------- -----------
Share options:
Person Role Option Grant Normal No. Exercise
type date vesting Expiry of shares price
date Date under
option*
Seraphine
Creative LTIP
Chelsey and Brand Share
Oliver Director Plan 16.07.21 16.07.24 16.07.2031 81,356(1) 1p(1)
----------- ----------- ---------- ---------- ------------ ----------- ---------
30.09.22 30.09.25 30.09.2032 787,500(2) 1p(2)
---------- ---------- ----------------------------------------------- ----------- ---------
Seraphine
Chief LTIP
David Executive Share
Williams Officer Plan 16.07.21 16.07.24 16.07.2031 127.119(1) 1p(1)
----------- ----------- ---------- ---------- ------------ ----------- ---------
30.09.22 30.09.25 30.09.2032 937,500(2) 1p(2)
---------- ---------- ----------------------------------------------- ----------- ---------
Lee Chief Buy-out 22.02.22 28.02.23 21.03.2032 307,750 Nil
Williams Financial award and cost
Officer 28.02.24
(in
equal
parts)
----------- ----------- ---------- ---------- ------------ ----------- ---------
Seraphine
LTIP
Share
Plan 30.09.22 30.09.25 30.09.2032 900,000(2) 1p(2)
----------- ---------- ---------- ----------------------------------- ----------- ---------
* Maximum number of shares under option that could be exercised if all vesting criteria are
satisfied
(1) The performance conditions require the Company's Adjusted EBITDA pre IFRS 16 (which will
be re-expressed as adjusted EPS) for the year ending April 2024 achieving GBP13 million to
GBP16 million. 25 per cent. of each award will vest at GBP13 million rising on a straight-line
basis to 100 per cent. vesting at GBP16 million.
(2) The performance conditions for the awards have a performance period aligned to the three-year
vesting period and apply the following performance targets and related vesting percentages: Highest consecutive five Percentage of award that
day average share price vests
in the last three months
of the performance period
Less than GBP0.50 0%
-------------------------
Between GBP0.50 and GBP0.75 Pro-rata 25% to 50%
-------------------------
Between GBP0.75 and GBP1.00 Pro-rata 50% to 100%
-------------------------
GBP1.00 or better 100%
-------------------------
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"
None
(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: 1 February 2023
Contact name: Bridget Green
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Telephone number: +44 20 4558 4659
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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 .
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