11 Mar 2021 15:15
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: | RDI REIT P.L.C. |
(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: Use a separate form for each offeror/offeree | RDI REIT P.L.C. |
(d) Is the discloser the offeror or the offeree? | Offeree |
(e) Date position held: The latest practicable date prior to the disclosure | 10 March 2021 |
(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
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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 40p each | |||
| Interests | Short positions | ||
Number | % | Number | % | |
(1) Relevant securities owned and/or controlled: | N/A | N/A | ||
(2) Cash-settled derivatives:
| N/A | N/A | ||
(3) Stock-settled derivatives (including options) and agreements to purchase/sell: | N/A | N/A | ||
TOTAL: | N/A | N/A | ||
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: |
(a) Shares held by Redefine International Management Holdings Limited (subsidiary of RDI REIT P.L.C.)
| ||
Name | Number of Ordinary Shares of 40p each in the Offeree interested in | Percentage of total issued share capital (%) of the Offeree
|
Redefine International Management Holdings Limited | 64,179 | 0.02 |
(b) Shares held by the directors of RDI REIT P.L.C.
| ||
Name | Number of Ordinary Shares of 40p each in the Offeree interested in | Percentage of total issued share capital (%) of the Offeree
|
Stephen Oakenfull | 207,282* | 0.05 |
Donald Grant | 84,839 | 0.02 |
Gavin Tipper** | 101,726 | 0.03 |
TOTAL: | 393,847 | 0.10 |
* 114,707 of which are held by Andrea Oakenfull, wife of Stephen Oakenfull
** held by Thornton Retirement PCC [Class C]
(c) Awards granted to the directors of RDI REIT P.L.C. outstanding
| ||||||
Name | Description of Award | Date of Grant | Number of Ordinary Shares of 40p each subject to the outstanding awards | Performance/ Deferred Period | Vesting Date | Award price |
Stephen Oakenfull | Short Term Incentive Plan Deferred Shares ("STIP") | 02.12.19 | 39,551 | 01.09.19, 01.09.20 | 01.12.21 | 127.4p (based on share price at 28 November 2019) |
STIP | 01.12.20 | 33,332 | 01.09.20, 01.09.21 | 01.12.22 | 92.8p (based on share price at 1 December 2020) | |
Long Term Incentive Plan ("LTIP") | 31.10.18 | 343,264 | 01.09.18, 01.09.19, 01.09.20 | 31.10.21 | 168.5p (based on share price at 1 September 2018) | |
LTIP | 02.12.19 | 427,500 | 01.09.19, 01.09.20, 01.09.21 | 02.12.22 | 104p (based on share price at 1 September 2019) | |
LTIP | 01.12.20 | 528,663 | 01.09.20, 01.09.21, 01.09.22 | 01.12.23 | 86p (based on share price at 1 September 2020) | |
Donald Grant | STIP | 02.12.19 | 31,249 | 01.09.19, 01.09.20 | 01.12.21 | 127.4p (based on share price at 28 November 2019) |
STIP | 01.12.20 | 26,637 | 01.09.20, 01.09.21 | 01.12.22 | 92.8p (based on share price at 1 December 2020) | |
LTIP | 31.10.18 | 290,326 | 01.09.18, 01.09.19, 01.09.20 | 31.10.21 | 168.5p (based on share price at 1 September 2018) | |
LTIP | 02.12.19
| 361,586
| 01.09.19, 01.09.20, 01.09.21 | 02.12.22 | 104p (based on share price at 1 September 2019) | |
LTIP | 01.12.20 | 447,035 | 01.09.20, 01.09.21, 01.09.22 | 01.12.23 | 86p (based on share price at 1 September 2020) | |
Name of adviser | Interests held (other than Rule 8 exempt entities) |
J.P. Morgan Securities plc1 | 22 ordinary shares of 40 pence each |
1The interests are held by J.P. Morgan Chase Bank (Custody)
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 March 2021 |
| Contact name: | Lisa Hibberd |
| Telephone number: | 020 7811 0100 |
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.