Form 8 (OPD) - Barratt Developments PLC

Barratt Developments PLC
20 February 2024
 

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:

Barratt Developments 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.  For a trust, the trustee(s), settlor and beneficiaries must be named.

N/A

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

     Use a separate form for each offeror/offeree

Barratt Developments PLC

(d) Is the discloser the offeror or the offeree?

OFFEROR

(e) Date position held:

     The latest practicable date prior to the disclosure

19 February 2024

(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"

YES

Redrow plc

 

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:

 

 

 

 

Interests

Short positions

Number

%

Number

%

(1) Relevant securities owned and/or controlled:

Nil

-

Nil

-

(2) Cash-settled derivatives:

 

Nil

-

Nil

-

(3) Stock-settled derivatives (including options) and agreements to purchase/sell:

Nil

-

Nil

-

 

     TOTAL:

Nil

-

Nil

-

 

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)  Interests in Barratt Developments PLC's ordinary shares of 10 pence each held by directors of Barratt Developments PLC and their close relatives and related trusts

 

Barratt Developments PLC Director

Number of relevant securities owned and/or controlled

%**

Caroline Silver

10,000

0.00

David Thomas*

1,326,830

0.13

Steven Boyes*

728,582

0.07

Mike Scott

69,620

0.00

Jock Lennox

10,000

0.00

Katie Bickerstaffe

8,489

0.00

Jasi Halai

12,581

0.00

Nigel Webb

12,660

0.00

 

*Includes interests held by close relatives and related trusts

**Figures are rounded down to 2 decimal places

 

(B)  Interests under Barratt Developments PLC's share plans held by the directors of Barratt Developments PLC and their close relatives and related trusts

 

Barratt Developments PLC Director

Share Plan

 

 

Number of ordinary shares under option / subject to award

Grant Date

Vesting Date / Exercise Period

Exercise Price per share (£)

David Thomas

Long-Term Performance Plan

390,914

21-Dec-2023

19-Oct-2026

Nil

Long-Term Performance Plan

307,746

12-Oct-2022

12-Oct-2025

Nil

Long-Term Performance Plan

224,370

14-Oct-2021

14-Oct-2024

Nil

Deferred Bonus Plan

88,632

12-Oct-2022

12-Oct-2025

Nil

Deferred Bonus Plan

52,138

24-Sep-2021

24-Sep-2024

Nil

SAYE

2,483

07-Apr-2021

01-Jul-2026 to 31-Dec-2026

6.04

SAYE

2,890

09-Apr-2019

01-Jul-2024 to 31-Dec-2024

5.19

Employee Long-Term Incentive Plan*

304

17-Jul-2023

01-Jul-2025

Nil

Mike Scott

Long-Term Performance Plan

240,563

21-Dec-2023

19-Oct-2026

Nil

Long-Term Performance Plan

189,382

12-Oct-2022

12-Oct-2025

Nil

Long-Term Performance Plan

117,716

14-Feb-2022

14-Oct-2024

Nil

SAYE

4,128

06-Apr-2022

01-Jul-2025 to 31-Dec-2025

4.36

Steven Boyes

Long-Term Performance Plan

315,329

21-Dec-2023

19-Oct-2026

Nil

Long-Term Performance Plan

248,243

12-Oct-2022

12-Oct-2025

Nil

Long-Term Performance Plan

180,987

14-Oct-2021

14-Oct-2024

Nil

Deferred Bonus Plan

71,495

12-Oct-2022

12-Oct-2025

Nil

Deferred Bonus Plan

41,263

24-Sep-2021

24-Sep-2024

Nil

SAYE*

5,186

12-Apr-2023

01-Jul-2026 to 31-Dec-2026

3.47

SAYE

1,490

07-Apr-2021

01-Jul-2024 to 31-Dec-2024

6.04

Employee Long-Term Incentive Plan*

304

17-Jul-2023

01-Jul-2025

Nil

Employee Long-Term Incentive Plan*

271

15-Jul-2022

01-Jul-2024

Nil

 

*Includes interests held by close relatives and related trusts

 

(C)  Interests in Barratt Developments PLC's ordinary shares of 10 pence each held by other concert parties of Barratt Developments PLC

 

Concert Party

Number of relevant securities owned and/or controlled

%*

Calvert Research and Management

64,328

0.00

Evelyn Partners Group Limited

473,326

0.04

UBS AG Australia Branch

1,406

0.00

 

*Figures are rounded down to 2 decimal places

 

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.

 

 

 

(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.

 

 

(c)        Attachments

 

Are any Supplemental Forms attached?

 

Supplemental Form 8 (Open Positions)

NO

Supplemental Form 8 (SBL)

NO

 

 

Date of disclosure:

20 February 2024

Contact name:

Tina Bains

Group Company Secretary

Telephone number:

+44 (0) 7702 676 380

 

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.

 

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