Rules 8.1, 8.2 and 8.4 of the Takeover Code

RNS Number : 0388P
Balfour Beatty PLC
13 August 2014
 



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

 

(a) Identity of the party to the offer or person acting in concert making the disclosure:

Peter Zinkin, director of Balfour Beatty 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

-

(c) Name of offeror/offeree in relation to whose relevant securities this form relates:

     Use a separate form for each offeror/offeree

Balfour Beatty plc

(d) Status of person making the disclosure:

     e.g. offeror, offeree, person acting in concert with the offeror/offeree (specify name of offeror/offeree)

Acting in concert - Balfour Beatty plc

(e) Date dealing undertaken:

11 August 2014

(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 PERSON MAKING THE DISCLOSURE

 

(a)        Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing

 

Class of relevant security:

 

Ordinary Shares of 50p each

 

 

Interests

Short positions

Number

%

Number

%

(1) Relevant securities owned and/or controlled:

315,352

0.046

Nil

0

(2) Derivatives (other than options):

Nil

0

Nil

0

(3) Options and agreements to purchase/sell:

Nil

0

Nil

0

 

     TOTAL:

315,352

0.046

Nil

0

 

Notes:

(i) the total figure includes securities held by close relatives or related trusts;

(ii) 2,055 of these shares are held under the HMRC approved all-employee Share Incentive Plan.

 

Class of relevant security:

 

Cumulative Convertible Redeemable Preference Shares of 1 pence each

 

 

Interests

Short positions

Number

%

Number

%

(1) Relevant securities owned and/or controlled:

325

0

Nil

0

(2) Derivatives (other than options):

Nil

0

Nil

0

(3) Options and agreements to purchase/sell:

Nil

0

Nil

0

 

     TOTAL:

325

0

Nil

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).

 

 

Class of relevant security in relation to which subscription right exists:

-

Details, including nature of the rights concerned and relevant percentages:

-

 

(i)        Performance Share Plan

 

Holder

 

Number of Balfour Beatty plc ordinary shares

Vesting date

Peter Zinkin

232,600

266,653

220,105

16 April 2015

16 April 2016

31 March 2017

 

(ii)       Deferred Bonus Plan

 

Holder

Number of Balfour Beatty plc ordinary shares

Vesting date

Peter Zinkin

67,598

49,440

38,058

30 March 2015

31 March 2016

31 March 2017

 

 

 

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.

 

3.         DEALINGS BY THE PERSON MAKING THE DISCLOSURE

 

(a)       Purchases and sales

 

Class of relevant security

Purchase/sale

 

Number of securities

Price per unit

Ordinary Shares of 50p each

Purchase in connection with Balfour Beatty plc's all employee Share Incentive Plan

 

51

244.4p

 

 

 

 

 

 

(b)       Derivatives transactions (other than options)

 

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

N/A

 

N/A

 

N/A

N/A

N/A

 

(c)        Options transactions in respect of existing securities

 

(i)        Writing, selling, purchasing or varying

 

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

N/A

N/A

N/A

N/A

N/A

N/A

N/A

N/A

 

(ii)       Exercising

 

Class of relevant security

Product description

e.g. call option

Number of securities

Exercise price per unit

N/A

N/A

 

N/A

 

N/A

 

(d)       Other dealings (including subscribing for new securities)

 

Class of relevant security

Nature of dealing

e.g. subscription, conversion

Details

Price per unit (if applicable)

N/A

N/A

N/A

 

N/A

 

The currency of all prices and other monetary amounts should be stated.

 

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.

 

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 or person acting in concert making the disclosure and any other person:

If there are no such agreements, arrangements or understandings, state "none"

 

None

 

 

 

(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 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"

 

None

 

 

(c)        Attachments

 

Are any Supplemental Forms attached?

 

Supplemental Form 8 (Open Positions)

YES/NO

Supplemental Form 8 (SBL)

YES/NO

 

 

Date of disclosure:

13 August 2014

Contact name:

Mr M D Peters (Head of Secretariat)

Telephone number:

+44 (0) 20 7216 6968

 

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.

 

 

 


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