Last checked at 2 Jun 2010 13:12
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) Identity of the party to the offer making the disclosure: | Telephonetics 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 | N/A |
| (c) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each party to the offer | Telephonetics plc |
| (d) Is the party to the offer making the disclosure the offeror or the offeree? | OFFEREE |
| (e) Date position held: | 1 June 2010 |
| (f) Has the party previously disclosed, or is it today disclosing, under the Code in respect of any other party to this offer? | NO |
2. POSITIONS OF THE PARTY TO THE OFFER MAKING THE DISCLOSURE
(a) Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates
| Class of relevant security:
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| Interests | Short positions | ||
| Number | % | Number | % | |
| (1) Relevant securities owned and/or controlled: | 0 | 0 | 0 | 0 |
| (2) Derivatives (other than options): | 0 | 0 | 0 | 0 |
| (3) Options and agreements to purchase/sell: | 0 | 0 | 0 | 0 |
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TOTAL: | 0 | 0 | 0 | 0 |
All interests and all short positions should be disclosed.
Details of any open derivative or option positions, 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 |
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.
(c) Irrevocable commitments and letters of intent
| Details of any irrevocable commitments or letters of intent procured by the party to the offer making the disclosure or any person acting in concert with it (see Note 3 on Rule 2.11 of the Code): | ||
| Name | Number of Telephonetics Shares committed | Percentage of entire existing issued share capital of Telephonetics |
| Mr M Neville | 150,000 | 0.14 |
| Mr A McKay3 | 19,630,994 | 17.99 |
| Mr M Brooks4 | 10,939,255 | 10.02 |
| Mr J Sandon-Allum5 | 5,415,686 | 4.96 |
| Mr W Burgar6 | 19,480,994 | 17.85 |
| Octopus AIM VCT7 | 4,100,000 | 3.76 |
| Octopus IHT AIM VCT7 | 1,523,432 | 1.40 |
| Octopus Second AIM VCT7 | 1,431,267 | 1.31 |
Notes:
1. These irrevocable undertakings remain binding, even if a higher competing offer is announced by a third party, unless the Scheme lapses or is withdrawn other than as specified below
2. The irrevocable undertakings also cover options over Telephonetics Shares granted under the Telephonetics 2005 Scheme and the Unapproved Options. Pursuant to such undertakings, the Telephonetics Directors concerned have irrevocably agreed to either (i) accept, when made, the proposals to Option Holders; or (ii) exercise in full the relevant options prior to the Scheme Record Date. The number of Telephonetics Shares stated as being irrevocably committed excludes any Telephonetics Shares arising from the exercise of options over Telephonetics Shares
3 The number of Telephonetics Shares irrevocably committed does not include options over 657,895 Telephonetics Shares granted by Anthony McKay to Cineworld Cinemas Limited which expire on or around 7 May 2012
4 The number of Telephonetics Shares irrevocably committed does not include 1,970,588 Telephonetics Shares held under his pension fund
5 The number of Telephonetics Shares irrevocably committed does not include 917,647 Telephonetics Shares held under his pension funds
6 The number of Telephonetics Shares irrevocably committed does not include options over 657,895 Telephonetics Shares granted by William Burgar to Cineworld Cinemas Limited which expire on or around 7 May 2012
7 These irrevocable undertakings will lapse in the event that a "Higher Competing Offer" for Telephonetics is announced. "Higher Competing Offer" means an offer which exceeds 10 per cent. or more of the consideration per Scheme Share payable under the Acquisition
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 of any person acting in concert with the party to the offer making the disclosure: | ||
| Name | Number of Telephonetics Shares | Percentage of entire existing issued share capital of Telephonetics |
| Mr M Neville | 150,000 | 0.14 |
| Mr A McKay1 | 19,630,994 | 17.99 |
| Mr M Brooks2 | 10,939,255 | 10.02 |
| Mr W Burgar3 | 19,480,994 | 17.85 |
1. The number of Telephonetics Shares irrevocably committed does not include options over 657,895 Telephonetics Shares granted by Anthony McKay to Cineworld Cinemas Limited which expire on or around 7 May 2012
2. The number of Telephonetics Shares irrevocably committed does not include 1,970,588 Telephonetics Shares held under his pension fund
3. The number of Telephonetics Shares irrevocably committed does not include options over 657,895 Telephonetics Shares granted by William Burgar to Cineworld Cinemas Limited which expire on or around 7 May 2012
Share Options
2005 Scheme
| Name | Date of grant | Number of Ordinary Shares | Exercise Price (p) | Exercise Period |
| James Ormondroyd | 7 July 2005 | 12,275 | 36.0 | 6 July 2015 |
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2005 Unapproved Scheme
| Name | Date of grant | Number of Ordinary Shares | Exercise Price (p) | Exercise Period |
| Michael Neville | 7 July 2005 | 654,514 | 1.0 | 6 July 2015 |
| James Ormondroyd | 7 July 2005 | 305,555 | 22.0 | 6 July 2015 |
| James Ormondroyd | 7 July 2005 | 305,555 | 18.0 | 6 July 2015 |
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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 3 for each additional class of relevant security.
Details of any open derivative or option positions, 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: 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 |
| Supplemental Form 8 (SBL) | NO |
| Date of disclosure: | 2 June 2010 |
| Contact name: | James Ormondroyd (Finance Director) |
| Telephone number: | +44 (0) 1442 242 242 |
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.