Waterman Group PLC Form 8 (OPD) Waterman Group plc (1244F)
15 Mayo 2017 - 3:52AM
UK Regulatory
TIDMWTM TIDMTTM
RNS Number : 1244F
Waterman Group PLC
15 May 2017
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: Waterman Group plc
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(b) Owner or controller of interests and short positions disclosed, if different from 1(a):
The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s),
settlor and beneficiaries must be named.
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(c) Name of offeror/offeree in relation to whose relevant securities this form relates: Waterman Group plc
Use a separate form for each offeror/offeree
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(d) Is the discloser the offeror or the offeree? OFFEREE
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(e) Date position held: 11 May 2017
The latest practicable date prior to the disclosure
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(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"
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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: Ordinary Shares of 10p each
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Interests Short positions
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Number % Number %
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(1) Relevant securities owned and/or controlled: Nil - Nil -
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(2) Cash-settled derivatives: Nil - Nil -
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(3) Stock-settled derivatives (including options) and agreements to Nil - Nil -
purchase/sell:
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Nil - Nil -
TOTAL:
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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
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Details, including nature of the rights concerned and relevant percentages: N/A
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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:
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(a) Interests of directors of Waterman Group plc in Waterman Group's shares
Director Number of ordinary Percentage of
shares in Waterman total issued
Group plc share capital
----------------- -------------------- ---------------
Michael Baker 26,000(1) 0.085%
----------------- -------------------- ---------------
Richard Piper Nil -
----------------- -------------------- ---------------
Nicholas Taylor 5,265(2) 0.017%
----------------- -------------------- ---------------
Alex Steele 4,544(3) 0.015%
----------------- -------------------- ---------------
Craig Beresford 21,472(4) 0.070%
----------------- -------------------- ---------------
Michael Strong Nil -
----------------- -------------------- ---------------
(1) Vestra Nominees Limited is the registered holder of 26,000 ordinary shares as trustee
of Michael Baker's SIPP.
(2) Capita IRG Trustees Limited is the registered holder of 5,265 ordinary shares as trustee
of the 2014 Share Incentive Plan.
(3) Capita IRG Trustees Limited is the registered holder of 4,544 ordinary shares as trustee
of the 2014 Share Incentive Plan.
(4) Capita IRG Trustees Limited is the registered holder of 620 ordinary shares as trustee
of the 2014 Share Incentive Plan.
(b) Directors' rights to subscribe for Waterman Group's shares under Waterman Group's share
plans
Long Term Incentive Plan
Director Number of Shares Vesting Period Exercise Price
---------------- ----------------- ------------------ ---------------
Nicholas Taylor 640,000(1) 9/12/17 - 8/12/19 Nil
---------------- ----------------- ------------------ ---------------
Alex Steele 320,000(1) 9/12/17 - 8/12/19 Nil
---------------- ----------------- ------------------ ---------------
Craig Beresford 320,000(1) 9/12/17 - 8/12/19 Nil
---------------- ----------------- ------------------ ---------------
(1) These options become exercisable on an offer to acquire the entire issued share capital
of Waterman Group plc being made unconditional in all respects, resulting in a change of control
of Waterman Group plc. Nicholas Taylor is entitled to exercise 512,000 LTIP options, Alex
Steele is entitled to exercise 256,000 LTIP options and Craig Beresford is entitled to exercise
256,000 LTIP options (assuming under the LTIP performance target, which is based on the offer
price of 140 pence, that 80% of the LTIP options held by Waterman Group plc's directors and
PDMRs may be deemed by Waterman Group plc's remuneration committee to have vested).
Share Incentive Plan 2014
Director Number of Shares
----------------- -----------------
Nicholas Taylor 5,265 (1)
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Alex Steele 4,544 (1)
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Craig Beresford 620(1)
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(1) These holdings are included in the number of ordinary shares set out in 3(a) (Interests
of directors of Waterman Group plc in Waterman Group's shares) above.
(c) Waterman Group shares held by Waterman Trustees Limited (as trustees of the 2005 Waterman
Group Employee Trust), Waterman Trustees Limited (as trustees of the 1994 Profit Share Scheme
and 2002 Share Incentive Plan) and Waterman Employee Trust Ireland Limited (as trustees of
the Irish Approved Profit Share Scheme)
Name Number of ordinary Percentage of
shares in Waterman total issued
Group plc share capital
--------------------- -------------------- ---------------
Waterman Trustees
Limited (as
trustees of
the 2005 Waterman
Group Employee
Trust) 127,442 0.414%
--------------------- -------------------- ---------------
Waterman Trustees
Limited (as
trustees of
the 1994 Profit
Share Scheme
and 2002 Share
Incentive Plan) 188,675 0.613%
--------------------- -------------------- ---------------
Waterman Employee
Trust Ireland
Limited (as
trustees of
the Irish Approved
Profit Share
Scheme) 10,407 0.034%
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(d) Interests of connected advisors of Waterman Group plc in Waterman Group's shares
Name Number of ordinary Percentage of
shares in Waterman total issued
Group plc share capital
------------------ -------------------- ---------------
Nplus1 Singer
Capital Markets
Limited 28,424 0.09%
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(e) Interests of close relatives of directors of Waterman Group plc in Waterman Group's shares
Close Director Relationship Number Percentage
Relative to of close of ordinary of total
whom close relative shares issued
relative to in Waterman share capital
is director Group plc
connected
----------- ------------- -------------- ------------- ---------------
Jeanne
Mitchell Nicholas
Taylor Taylor Mother 1,773 0.006%
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(f) Interests of other concert parties of Waterman Group plc in Waterman Group's shares
Name Number of ordinary Percentage of
shares in Waterman total issued
Group plc share capital
------------ -------------------- ---------------
Phil Barnes Nil -
------------ -------------------- ---------------
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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"
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None
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(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"
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None
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(c) Attachments
Are any Supplemental Forms attached?
Supplemental Form 8 (Open Positions) NO
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Supplemental Form 8 (SBL) NO
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Date of disclosure: 15 May 2017
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Contact name: Marie-Anne Culnane
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Telephone number: +44 (0) 330 060 4808
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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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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