TIDMSTY

RNS Number : 7626A

Central Square Holdings Limited

02 January 2018

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:                                                           Central Square Holdings Limited 
------------------------------------------------------------------------------------  -------------------------------- 
 (b) Owner or controller of interests and short positions disclosed, if different      N/A 
 from 1(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        Styles & Wood Group plc 
 relates: 
 Use a separate form for each offeror/offeree 
------------------------------------------------------------------------------------  -------------------------------- 
 (d) Is the discloser the offeror or the offeree?                                      OFFEROR 
------------------------------------------------------------------------------------  -------------------------------- 
 (e) Date position held:                                                               1 January 2018 
  The latest practicable date prior to the disclosure 
------------------------------------------------------------------------------------  -------------------------------- 
 (f) In addition to the company in 1(c) above, is the discloser making disclosures     N/A 
 in respect 
 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            - 
-----------------------------------------------------------------------------------  --------      -------------  --- 
 (2) Cash-settled derivatives:                                                        Nil       -   Nil            - 
-----------------------------------------------------------------------------------  --------      -------------  --- 
 (3) Stock-settled derivatives (including options) and agreements to purchase/sell:   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: 
------------------------------------------------------------------------------------------------------ 
 
        The following persons are deemed to be acting in concert with the Offeror and their interests 
        in the Offeree are disclosed accordingly: 
                                 No. of ordinary      % of issued 
                                          shares    share capital 
        ----------------------  ----------------  --------------- 
         Steve Parkin                        Nil                - 
        ----------------------  ----------------  --------------- 
         David Hodkin                        Nil                - 
        ----------------------  ----------------  --------------- 
         Guy Jackson                         Nil                - 
        ----------------------  ----------------  --------------- 
         CentraI Square                      Nil                - 
          Investments LLP 
        ----------------------  ----------------  --------------- 
         Gurnaik Chima                       Nil                - 
        ----------------------  ----------------  --------------- 
         George Turner                       Nil                - 
        ----------------------  ----------------  --------------- 
         Andrew Kendall-Jones                Nil                - 
        ----------------------  ----------------  --------------- 
         Paul Mitchell                    47,676            0.55% 
        ----------------------  ----------------  --------------- 
         Anthony Lenehan                  24,688            0.28% 
        ----------------------  ----------------  --------------- 
         Philip Lanigan                   12,413            0.14% 
        ----------------------  ----------------  --------------- 
         Paul Lonsdale                       Nil                - 
        ----------------------  ----------------  --------------- 
         Andrew Shaw                       2,171            0.02% 
        ----------------------  ----------------  --------------- 
         Karen Morley                        190           0.002% 
        ----------------------  ----------------  --------------- 
         Martin Ward                       4,850            0.06% 
        ----------------------  ----------------  --------------- 
 
 
        In addition, certain members of the above concert party have further interests in the Offeree 
        as follows: 
 
        Styles & Wood plc 2016 Long Term Incentive Plan ("LTIP") 
        Awards were granted on 1 June 2016 following shareholder approval on 26 January 2016. The 
        entitlement to participate in LTIP will crystallise upon the occurrence of an offer for the 
        Company. 
                               Maximum number of        Maximum "vesting      Number of Styles & 
                                   Styles & Wood   value" based on share    Wood Ordinary Shares 
                              Ordinary Shares in   price at full vesting   in respect of LTIP at 
                            respect of which the     of at least GBP2.75         the Offer Price 
                             LTIP award may vest 
        -----------------  ---------------------  ----------------------  ---------------------- 
         Anthony Lenehan                 270,235           GBP743,146.42                 159,816 
        -----------------  ---------------------  ----------------------  ---------------------- 
         Philip Lanigan                  154,420           GBP424,655.10                  91,323 
        -----------------  ---------------------  ----------------------  ---------------------- 
         Paul Lonsdale                   115,815           GBP318,491.32                  68,492 
        -----------------  ---------------------  ----------------------  ---------------------- 
         Andrew Shaw                      77,210           GBP212,327.55                  45,661 
        -----------------  ---------------------  ----------------------  ---------------------- 
         Karen Morley                     77,210           GBP212,327.55                  45,661 
        -----------------  ---------------------  ----------------------  ---------------------- 
         Martin Ward                      77,210           GBP212,327.55                  45,661 
        -----------------  ---------------------  ----------------------  ---------------------- 
 
 
        Hurdle Shares 
        Allotted following shareholder approval on 26 January 2016. The value to be attributed to 
        the holders of the Hurdle Shares in such circumstances shall be equal to: 
        (a) 20 per cent. of the amount by which the share price for an Ordinary Share exceeds GBP2.75 
        (up to GBP4.25); and 
        (b) 10 per cent. of the amount by which the share price for an Ordinary Share exceeds GBP4.25, 
                           Number of Hurdle    Value at the 
                                     Shares     Offer Price 
                                                 of GBP4.65 
        ----------------  -----------------  -------------- 
         Anthony Lenehan              3,500   GBP842,232.61 
        ----------------  -----------------  -------------- 
         Philip Lanigan               2,000   GBP481,275.78 
        ----------------  -----------------  -------------- 
         Paul Lonsdale                1,500   GBP360,956.83 
        ----------------  -----------------  -------------- 
         Andrew Shaw                  1,000   GBP240,637.89 
        ----------------  -----------------  -------------- 
         Karen Morley                 1,000   GBP240,637.89 
        ----------------  -----------------  -------------- 
         Martin Ward                  1,000   GBP240,637.89 
        ----------------  -----------------  -------------- 
 
 
        Upon the occurrence of an offer for the Company ("Sale"), the Hurdle Shares will have the 
        right to participate for cash in the case of a Sale. 
------------------------------------------------------------------------------------------------------ 
 

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:    2 January 2018 
---------------------  --------------------- 
 Contact name:          David Hodkin 
---------------------  --------------------- 
 Telephone number:      +44 (0) 113 205 1552 
---------------------  --------------------- 
 

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.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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