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Cenkos Securities PLC, as an offeree, made a public dealing disclosure on 25 July 2023 for transactions undertaken on 24 July 2023. This involved Zedra Trust Company transferring 4,372,480 ordinary shares to Apex Financial Services, which then allocated 7,117,461 shares to Cenkos employees for incentive scheme awards. Following these dealings, Cenkos Securities PLC reported an interest of 1,006,044 ordinary shares, equating to 1.77% of its shares.
| Date | 25 Jul 2023 |
| Time | 09:08:04 |
| Category | Holding(s) in company |
| ID | 0999H |
FORM 8 (DD)
PUBLIC DEALING DISCLOSURE BY A PARTY TO AN OFFER OR PERSON ACTING IN CONCERT (INCLUDING DEALINGS FOR THE ACCOUNT OF DISCRETIONARY INVESTMENT CLIENTS)
Rules 8.1, 8.2 and 8.4 of the Takeover Code (the "Code")
1. KEY INFORMATION
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(a) Full name of discloser: |
CENKOS SECURITIES PLC |
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(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. |
N/A |
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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 |
CENKOS SECURITIES PLC |
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(d) Status of person making the disclosure: e.g. offeror, offeree, person acting in concert with the offeror/offeree (specify name of offeror/offeree) |
OFFEREE |
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(e) Date dealing undertaken: |
24 July 2023 |
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(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" |
NO
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2. POSITIONS OF THE PERSON 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 following the dealing
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Class of relevant security:
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Ordinary Shares |
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Interests |
Short positions |
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Number |
% |
Number |
% |
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(1) Relevant securities owned and/or controlled: |
1,006,044 |
1.77% |
0 |
0 |
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(2) Cash-settled derivatives:
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(3) Stock-settled derivatives (including options) and agreements to purchase/sell: |
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TOTAL: |
1,006,044¹ |
1.77% |
0 |
0 |
¹ 1,006,044 ordinary shares that are held within the Cenkos Securities EBT (for which Zedra Trust Company (Guernsey) Limited acts as trustee) are unallocated under any Cenkos Securities plc incentive schemes and accordingly can be voted by the trustee, subject to its discretion, in accordance with the recommendations of Cenkos Securities plc.
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 (including directors' and other employee options)
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Class of relevant security in relation to which subscription right exists: |
N/A |
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Details, including nature of the rights concerned and relevant percentages: |
N/A |
3. DEALINGS BY THE PERSON MAKING THE DISCLOSURE
Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.
The currency of all prices and other monetary amounts should be stated.
(a) Purchases and sales
(i) Party to an offer or person acting in concert (except for a principal trader in the same group as a connected adviser)
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Class of relevant security |
Purchase/sale
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Number of securities |
Price per unit |
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(ii) Principal trader where the sole reason for the connection is that the principal trader is in the same group as a connected adviser
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Class of relevant security |
Purchases/ sales
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Total number of securities |
Highest price per unit paid/received |
Lowest price per unit paid/received |
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(b) Cash-settled derivative transactions
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Class of relevant security |
Product description e.g. CFD |
Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position |
Number of reference securities |
Price per unit |
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(c) Stock-settled derivative transactions (including options)
(i) Writing, selling, purchasing or varying
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Class of relevant security |
Product description e.g. call option |
Writing, purchasing, selling, varying etc. |
Number of securities to which option relates |
Exercise price per unit |
Type e.g. American, European etc. |
Expiry date |
Option money paid/ received per unit |
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(ii) Exercise
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Class of relevant security |
Product description e.g. call option |
Exercising/ exercised against |
Number of securities |
Exercise price per unit |
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(d) Other dealings (including subscribing for new securities)
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Class of relevant security |
Nature of dealing e.g. subscription, conversion |
Details |
Price per unit (if applicable) |
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Ordinary Shares |
Transfer of shares between Cenkos EBTs and allocation of shares within Cenkos EBT in favour of certain Cenkos employees to satisfy awards made under Cenkos incentive schemes such that such shares can no longer be voted by the Cenkos EBT in accordance with the recommendations of the Company.
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Transfer by Zedra Trust Company (Guernsey) Limited in its capacity as trustee of the Cenkos Securities EBT to Apex Financial Services (Trust Company) Limited in its capacity as trustee of the Cenkos EBT of 4,372,480 shares and allocation by Apex Financial Services (Trust Company) Limited of 7,117,461 shares within the Cenkos EBT in favour of certain Cenkos employees to satisfy awards made under Cenkos incentive schemes. |
n/a |
4. OTHER INFORMATION
(a) Indemnity and other dealing arrangements
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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 or person acting in concert making the disclosure and any other person: Irrevocable commitments and letters of intent should not be included. 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
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Details of any agreement, arrangement or understanding, formal or informal, between the party to the offer or person acting in concert making the disclosure 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?
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Supplemental Form 8 (Open Positions) |
NO |
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Supplemental Form 8 (SBL) |
NO |
Date of disclosure: |
25 July 2023 |
Contact name: |
Jeremy Osler |
Telephone number: |
020 7397 8978 |
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 dealing disclosure requirements on +44 (0)20 7638 0129.
The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.