RGU.L Regulatory News (RGU)

14 Jan 2008 17:40

Regus Group PLC14 January 2008 Regus Group plc14 January 2008 Notification pursuant to paragraph 3.1.2 of the Disclosure and TransparencyRules Notification of a transaction by a person connected with Mark Dixon in theordinary shares of Regus Group plc (the "Company") The Company announces that it has today received notification that on 13 January2008, Maxon Investments B.V, a company wholly owned by Mark Dixon, ("MaxonInvestments") agreed to amend the terms of a forward contract of sale with BearStearns International Limited ("Bear Stearns") in relation to ordinary shares ofRegus Group plc ("Forward Contract"). The Forward Contract was entered into on18 March 2005 and notified by the Company to the market in March 2005. Under the terms of the Forward Contract, the Seller agreed to sell to BearStearns a total of up to 34,200,000 ordinary shares in the Company, such sharesto be transferred in equal tranches of up to 3,420,000 ordinary shares of theCompany on ten different settlement dates between February 2008 and April 2008.As collateral for its obligations under the Forward Contract, Maxon transferredtitle to 34,371,000 ordinary shares to Bear Stearns. The revised Forward Contract provides that the ordinary shares may be settled atany time between, and including, 15 January 2008 and 13 March 2008, in suchamounts and on such number of occasions as may be determined by Bear Stearns inits absolute discretion, subject to various minimum transfer requirements. Thecontract provides that the shares settled between these dates shall be settledin cash. Shares remaining to be settled after 13 March 2008 (if any) shall besettled in cash or by physical settlement and in such amounts and on such numberof occasions before 22 April 2008 as may be determined by Maxon in its absolutediscretion, subject to various minimum transfer requirements. In addition, on 11 January 2008 Maxon agreed to transfer ordinary shares in theCompany of a value of £40,000,000 to UBS as collateral for any future borrowingsfrom UBS. This information is provided by RNS The company news service from the London Stock Exchange