11 Aug 2020 12:30
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: | FORTIANA HOLDINGS LIMITED |
(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. | VLADISLAV SVIBLOV, a citizen of Russia
CHARTAC MANAGEMENT SERVICES LIMITED, a company incorporated under the laws of Cyprus, registration number HE 18466
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(c) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offeree | HIGHLAND GOLD MINING LIMITED |
(d) Is the discloser the offeror or the offeree
| OFFEROR |
(e) Date position held: The latest practicable date prior to disclosure | 11 AUGUST 2020 |
(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" | 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:
| 0.1p ordinary shares | |||
| Interests | Short positions | ||
Number | % | Number | % | |
(1) Relevant securities owned and/or controlled: | 87,153,330 | 23.95 | ||
(2) Cash-settled derivatives:
| ||||
(3) Stock-settled derivatives (including options) and agreements to purchase/sell: | ||||
TOTAL: | 87,153,330 | 23.95 | ||
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: | |
Details, including nature of the rights concerned and relevant percentages: |
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: | ||||||||||||||||||||||||||||||
Pursuant to a share purchase agreement dated 31 July 2020 (the "SPA"), Fortiana Holdings Limited ("Fortiana") agreed to acquire 145,759,871 ordinary shares in Highland Gold Mining Limited ("Highland Gold") (representing 40.06 per cent. of Highland Gold's issued share capital) from certain shareholders of Highland Gold (the "Selling Shareholders"). Due to Russian Federal Antimonopoly Service ("FAS") requirements, Fortiana agreed to acquire 87,153,330 ordinary shares in Highland Gold (representing 23.95 per cent. of Highland Gold's issued share capital) upon the announcement of the mandatory cash offer for the entire issued and to be issued share capital of Highland Gold on 31 July 2020. The remaining 58,606,541 ordinary shares in Highland Gold (representing 16.11 per cent. of Highland Gold's issued share capital) (the "Remaining Shares") will be acquired upon such approval from FAS having been obtained. Accordingly, from the time of entry into the SPA until such time as the Remaining Shares are acquired, Fortiana is treated as acting in concert with the Selling Shareholders.
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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" |
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" |
None.
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(c) Attachments
Are any Supplemental Forms attached?
Supplemental Form 8 (Open Positions) | NO |
Supplemental Form 8 (SBL) | NO |
| Date of disclosure: | 11 August 2020 |
| Contact name: | Kira Dmitrieva |
| Telephone number: | +7 (495) 276 5004 |
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.