John David Group (The) PLC
06 July 2004
6 July 2004
THE JOHN DAVID GROUP PLC ('JD' or the 'Company')
The Board of the Company yesterday received the following notification from John
Wardle, Non-executive Director of the Company:
'This letter is to notify the Company that on Saturday 3rd July 2004, I disposed
of 5,405,406 ordinary shares in the Company at 185p per share.
Following the transaction my beneficial interest in the Company is 6,808,364
ordinary shares representing 14.6% of the issued capital of the Company.
The reason for the sale is to allow me to diversify my investment portfolio as I
move towards retirement. For the time being I am happy to continue as a Director
of the Company for as long as the Board and Shareholders wish me to do so.'
The Board of the Company also received yesterday statutory notices in respect of
the acquisition of John Wardle's shares pursuant to:
Section 198 of the Companies Act 1985 from Manchester Square Home Accessories
Limited ('MSHAL'), a wholly owned subsidiary of Pentland Group plc ('Pentland');
Pentland itself; Stephen Ruben; Angela Ruben; John Wardle; David Makin and the
trustees of their respective family trusts; and
Section 206(2) of the Companies Act 1985 from MSHAL and John Wardle.
The Company also received the following letter from Pentland:
'Disclosures have been made to The John David Group plc ('Company') in relation
to the acquisition by Manchester Square Home Accessories Limited ('MSHAL'), a
wholly owned subsidiary of Pentland Group plc, of 5,405,406 shares from Mr John
Wardle, a director of the Company, for a price of £1.85 per share.
In addition, disclosure have also been made to the Company by MSHAL and certain
other parties concerning an agreement entered into on 3 July 2004 between MSHAL,
Mr Wardle and certain trusts associated with Mr Wardle, Mr David Makin (also a
director of the Company) and certain trusts associated with Mr Makin. This is an
agreement to which Section 204 Companies Act 1985 applies. The agreement imposes
certain restrictions on the use, retention or disposal of shares in the Company
held by the parties referred to above. '
In addition, the Panel on Takeovers and Mergers (the 'Panel') has also informed
the Company's financial adviser that the arrangements between John Wardle, David
Makin, their respective family trusts and MSHAL results in those parties being
considered to be acting in concert by the Panel.
The John David Group Plc
Tel: 0161 767 1000
Peter Cowgill, Executive Chairman
Barry Bown, Chief Executive
Brian Small, Finance Director
Hogarth Partnership Limited
Tel: 020 7357 9477
This information is provided by RNS
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