Last checked at 12 Oct 2011 07:00
Merchant Securities Group plc
("Merchant Securities" or the "Company")
Issue of Equity
12 October 2011
Merchant Securities announces that application has been made for the admission to AIM ("Admission") of 230,158 new ordinary shares of 1p each in the Company ("Ordinary Shares"), pursuant to the exercise of options by a former employee of the Company. The new Ordinary Shares rank pari passu with the Company's existing issued ordinary shares and dealings are expected to commence on 18 October 2011.
Following Admission, the Company's enlarged issued share capital will comprise 51,575,856 ordinary shares, excluding Treasury Shares. Therefore the total number of ordinary shares with voting rights is 51,575,856. This figure of 51,575,856 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FSA's Disclosure and Transparency Rules.
Enquiries:
Merchant Securities Group Plc | Tel: +44 (0)20 7375 9022 |
Patrick Claridge, Chief Executive Nigel Gurney, Chief Financial Officer | |
Grant Thornton Corporate Finance | Tel: +44 (0)20 7383 5100 |
Philip Secrett / Salmaan Khawaja / Daniela Amihood | |
Biddicks | Tel: +44 (0)20 3178 6378 |
Katie Tzouliadis/Sophie Lane |
Disclosure requirements of the Takeover Code (the "Code")
Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant securities of an offeree company or of any paper offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the announcement in which any paper offeror is first identified.
An Opening Position Disclosure must contain details of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any paper offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 pm (London time) on the 10th business day following the commencement of the offer period and, if appropriate, by no later than 3.30 pm (London time) on the 10th business day following the announcement in which any paper offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a paper offeror
prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.
Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% or more of any class of relevant securities of the offeree company or of any paper offeror must make a Dealing Disclosure if the person deals in any relevant securities of the offeree company or of any paper offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any paper offeror, save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must
be made by no later than 3.30 pm (London time) on the business day following the date of the relevant dealing.
If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree company or a paper offeror, they will be deemed to be a single person for the purpose of Rule 8.3.
Opening Position Disclosures must also be made by the offeree company and by any offeror and Dealing Disclosures must also be made by the offeree company, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4).
Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Takeover Panel's website at www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the offer period commenced and when any offeror was first identified. If you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure, you should contact the Panel's Market Surveillance
Unit on +44 (0)20 7638 0129.