Public dealing disclosure

RNS Number : 9258P
Grainger PLC
26 July 2010
 



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:

Grainger plc

(b) Owner or controller of interests and short positions disclosed, if different from 1(a):


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

     Use a separate form for each offeror/offeree

Sovereign Reversions 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)

Offeror

(e) Date dealing undertaken:

13 July 2010

(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:

 


 

 

Interests

Short positions

Number

%

Number

%

(1) Relevant securities owned and/or controlled:

1

0.00

0

0.00

(2) Derivatives (other than options):

0

0.00

0

0.00

(3) Options and agreements to purchase/sell:

0

0.00

0

0.00

 

     TOTAL:

1

0.00

0

0.00

 

 

(b)        Rights to subscribe for new securities (including directors' and other executive options)

 

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

Ordinary shares

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

n/a

 

 

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

Purchase

 

1

200 GBp

 

(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

 

 

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:

 

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:

None

 

 

 

(c)        Attachments

 

Are any Supplemental Forms attached?

 

Supplemental Form 8 (Open Positions)

NO

Supplemental Form 8 (SBL)

NO

 

 

Date of disclosure:

26 July 2010

Contact name:

Edouard Asselin

J.P. Morgan Cazenove

Telephone number:

0207 155 4730

 

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.

 

This trade has been carried out in relation to the recommended scheme of arrangement (the "Scheme") pursuant to which Grainger plc is proposing to acquire the entire issued share capital of Sovereign Reversions plc, details of which were set  out in a circular to Sovereign Reversions' shareholders dated 17 June 2010  (the "Scheme Document"). As disclosed in the Scheme Document, for the purposes of implementing the Scheme, Grainger plc has acquired one ordinary share in Sovereign Reversions plc prior to the date of the Court Hearing to approve the Scheme on 4 August 2010.

The Takeover Panel have confirmed on an ex parte basis that this dealing has no Code consequences.


This information is provided by RNS
The company news service from the London Stock Exchange
 
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