17 Jan 2024 16:30
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: | Belvoir Group 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. | N/A |
(c) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree | Belvoir Group PLC |
(d) Is the discloser the offeror or the offeree? | OFFEREE |
(e) Date position held: The latest practicable date prior to the disclosure | 17 January 2024 |
(f) In addition to the company in 1(c) above, is the discloser making disclosures in respect of any other party to the offer? If it is a cash offer or possible cash offer, state "N/A" | No |
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 1p | |||
| 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 |
| |
TOTAL: | Nil | Nil |
| |
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: |
(a) Ordinary Shares of 1 pence each in the capital of the Company (b) Rights to subscribe for Ordinary Shares of 1 pence each in the capital of the Company
|
(a) Interests in Belvoir Group PLC's ordinary shares of 1p each held by the directors of Belvoir Group PLC:
Director | Number of Ordinary Shares | % of issued share capital |
Dorian Gonsalves | 656,500 | 1.75% |
Louise George | 450,106 | 1.20% |
Michelle Brook | 485,162 | 1.30% |
Mark Newton | 435,507 | 1.17% |
Paul George | 20,000 | 0.05% |
Jon Di-Stefano | 10,000 | 0.03% |
(b) Rights to subscribe for Interests in Belvoir Group PLC's ordinary shares of 1p each held by the directors of Belvoir Group PLC:
Director | Type | Number of Options | Dividend equivalent shares* | Exercise price | Date of grant | Vesting date from | Expiry date |
Dorian Gonsalves | Belvoir Group Performance Share Plan 2017 ("PSP") | 247,347 | 24,661 | £0.01 | 30/06/2021 | 8/04/2024 | 29/06/2031 |
Dorian Gonsalves | PSP | 101,075 | 6,736 | £0.01 | 02/08/2022 | 8/04/2025 | 01/08/2032 |
Dorian Gonsalves | PSP | 114,350 | 2,486 | £0.01 | 31/05/2023 | 10/04/2026 | 30/05/2033 |
Louise George | PSP | 207,122 | 20,651 | £0.01 | 30/06/2021 | 8/04/2024 | 29/06/2031 |
Louise George | PSP | 92,475 | 6,163 | £0.01 | 02/08/2022 | 8/04/2025 | 01/08/2032 |
Louise George | PSP | 104,630 | 2,275 | £0.01 | 31/05/2023 | 10/04/2026 | 30/05/2033 |
Michelle Brook | PSP | 9,527 | 950 | £0.01 | 30/06/2021 | 8/04/2024 | 29/06/2031 |
Michelle Brook | PSP | 58,065 | 3,870 | £0.01 | 02/08/2022 | 8/04/2025 | 01/08/2032 |
Michelle Brook | PSP | 65,620 | 1,427 | £0.01 | 31/05/2023 | 10/04/2026 | 30/05/2033 |
*Dividend equivalent shares represent additional shares the option holder is entitled to receive upon exercise, equivalent to the value of dividends that would have been received on shares subject to the option between the grant date and the exercise date.
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: | 17 January 2024 |
| Contact name: | Louise George |
| Telephone number: | + 44 (0) 1476 584 900 |
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.