TIDMDES

RNS Number : 9234P

Desire Petroleum PLC

07 October 2013

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           Desire Petroleum plc 
 disclosure: 
----------------------------------------------------------  ---------------------------------------------------------- 
 (b) Owner or controller of interests and short positions    The Directors of Desire Petroleum plc, as set out in 
 disclosed, if different from 1(a):                          section 3. 
 The naming of nominee or vehicle companies is 
 insufficient 
----------------------------------------------------------  ---------------------------------------------------------- 
 (c) Name of offeror/offeree in relation to whose relevant   Desire Petroleum plc 
 securities this form relates: 
 Use a separate form for each party to the offer 
----------------------------------------------------------  ---------------------------------------------------------- 
 (d) Is the party to the offer making the disclosure the     Offeree 
 offeror or the offeree? 
----------------------------------------------------------  ---------------------------------------------------------- 
 (e) Date position held:                                     7 October 2013 
----------------------------------------------------------  ---------------------------------------------------------- 
 (f) Has the party previously disclosed, or is it today      No 
 disclosing, under the Code in respect 
 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:   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 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): 
----------------------------------------------------------------------------------------------- 
 
   None. 
----------------------------------------------------------------------------------------------- 
 
   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: 
-------------------------------------------------------------------------------------------------------- 
 
   The following Directors of the company had the interests in ordinary shares of 1p in the capital 
   of Desire Petroleum plc as follows: 
    Director           Number of shares 
    Mr S L Phipps      36,702,633 
    Dr I G Duncan      485,369 
    Mr E Wisniewski    30,000 
    Mr A G Windham     37,555 
    Mr R Lyons         75,000 
    Mr K Black         75,000 
 
   Mr K Black holds 500,000 share options in Desire Petroleum plc. The exercise period for the 
   options is from 12 September 2013 to 12 September 2017. The exercise price for the options 
   is 98.75 pence. 
   The following Directors of Desire Petroleum plc hold Share Appreciation Rights ("SARs") in 
   Desire Petroleum plc as follows: Director           Number      Base     Date         Exercise period 
                        of SARs     price    of 
                                             award 
    Mr S L Phipps      903,807     33.07p   26-01-2006   Up to 23-01-2016 
    Dr I G Duncan      2,485,469   33.07p   26-01-2006   Up to 23-01-2016 
    Mr E Wisniewski    903,807     33.07p   26-01-2006   Up to 23-01-2016 
    Mr A G Windham     903,807     33.07p   26-01-2006   Up to 23-01-2016 
    Mr R Lyons         927,057     45.57p   26-02-2008   Up to 26-02-2018 
                                                         16-01-2015 to 
    Mr K Black         400,473     22.50p   16-01-2012    16-01-2022 
-------------------------------------------------------------------------------------------------------- 
 

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. 
------------------------------------------------------------------------------------------------ 
 
   (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:    7 October 2013 
---------------------  ----------------- 
 Contact name:          Eddie Wisniewski 
---------------------  ----------------- 
 Telephone number:      0207 436 0423 
---------------------  ----------------- 
 

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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