TIDMELTA
RNS Number : 7038Q
Electra Private Equity PLC
07 June 2018
The following amendment has been made to the Form 8 (OPD)
announcement released on 7 June 2018 at 07.00 under RNS No
5553Q.
The interest of Edward Bramson in the ordinary shares of 25
pence each is 11,446,086 shares (29.9%) not 11,046,086 (28.85%) as
previously stated.
All other details remain unchanged.
The full amended text is shown below.
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: ELECTRA PRIVATE EQUITY PLC
(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.
---------------------------
(c) Name of offeror/offeree in relation to whose relevant securities this form relates: ELECTRA PRIVATE EQUITY PLC
Use a separate form for each offeror/offeree
---------------------------
(d) Is the discloser the offeror or the offeree? OFFEREE
---------------------------
(e) Date position held: 6 June 2018
The latest practicable date prior to the disclosure
---------------------------
(f) In addition to the company in 1(c) above, is the discloser making disclosures in YES / NO / N/A
respect If YES, specify which:
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: Ordinary shares of 25 pence each
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 Nil Nil
purchase/sell:
-------------- ---- ------------- ---
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: N/A
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:
3.1 Interests of the directors and their closely associated persons of Electra Private Equity
PLC in the ordinary shares of 25 pence each (the Ordinary Shares)
Director No. of Ordinary Shares held % of total number of Ordinary Shares held
------------------------------- ---------------------------------------------
Edward Bramson(1) 11,446,086 29.9
------------------------------- ---------------------------------------------
Ian Brindle 797 0.002
------------------------------- ---------------------------------------------
Neil Johnson 2,500 0.006
------------------------------- ---------------------------------------------
David Lis 18,500 0.048
------------------------------- ---------------------------------------------
Gavin Manson 1,440 0.004
------------------------------- ---------------------------------------------
Roger Perkin 2,074 0.005
------------------------------- ---------------------------------------------
(1) The shares are held by Sherborne Investors (Guernsey) B Limited ("SIGB LP"). Edward Bramson
is the managing member of Sherborne Investors Management GP, LLC, which is the investment
manager of SIGB LP. Edward Bramson and Stephen Welker are members of an investment committee
of Sherborne Investors Management GP, LLC which makes all decisions regarding the acquisition,
holding, voting, or disposition of investment securities managed, directly or indirectly,
by Sherborne Investors Management GP, LLC.
3.2 Interests of the directors of Electra Private Equity PLC in awards of the ordinary shares
of 25 pence each under the 2017 Long Term Incentive Plan (LTIP), Deferred Bonus Plan (DBP)
and Executive Share of Value Plan (SOVP).
Director (Plan) Award % of total number of Ordinary Shares Vesting Date
---------------------------------------- -------------------------------------- -------------
Gavin Manson (LTIP) Nil cost option award over 69,882 0.183 14.07.20
ordinary shares
---------------------------------------- -------------------------------------- -------------
Gavin Manson (DBP) Nil cost option award over 13,758 0.036 21.12.20
ordinary shares
---------------------------------------- -------------------------------------- -------------
Nil cost unit awards over 65,000 units
Gavin Manson (SOVP) in the Plan Pool(2) n/a (2)
---------------------------------------- -------------------------------------- -------------
Nil cost unit awards over 35,000 units
Neil Johnson (SOVP) in the Plan Pool(2) n/a (2)
---------------------------------------- -------------------------------------- -------------
(2) Each award is granted as a conditional right to receive a specified number of units in
a notional cash pool which will, subject to achievement of specified performance targets relating
to the Company's net asset value over a three-year performance period ending on 31 December
2020 and to the grantee's continued service with the Company's group.
At the end of the three-year performance period, if an award vests the grantee shall be entitled
to receive an award over ordinary shares of 25 pence each in the capital of the Company. The
number of Shares which shall be granted shall be proportionate to the extent to which the
performance conditions have been satisfied, and shall be subject to individual caps on the
maximum number of Shares which may be delivered.
3.3 Interests of connected advisers of Electra Private Equity PLC in the ordinary shares of
25 pence each:
Sanne Fiduciary Services Limited, acting as the trustee of the Electra Private Equity PLC
Employee Benefit Trust
Interests Short positions
--------------- ------------------
Number % Number %
-------- ----- ------------- ---
(1) Relevant securities owned and/or controlled: 107,369 0.28 Nil
-------- ----- ------------- ---
(2) Cash-settled derivatives: Nil Nil
-------- ----- ------------- ---
(3) Stock-settled derivatives (including options) and agreements to Nil Nil
purchase/sell:
-------- ----- ------------- ---
Nil Nil
TOTAL:
-------- ----- ------------- ---
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: 7 June 2018
Contact name: Gavin Manson
--------------
Telephone number: 020 3874 8300
--------------
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 news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
FEEFRMATMBIMBMP
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