RNS Number:0457S
Cantor Fitzgerald Europe
13 November 2003
FORM 8.1/8.3
Lodge with a RIS or Newstrack and the Takeover Panel. Use separate form for each
class of securities in which dealings have been made.
Date of disclosure 13/11/03.................
DISCLOSURE UNDER RULES 8.1(a), 8.1(b)(i) AND 8.3
OF THE CITY CODE ON TAKEOVERS AND MERGERS
Date of dealing 12/11/03
Dealing in Regus Plc................(name of company)
(1) Class of securities (eg ordinary shares) ordinary shares...............
(2) Amount bought Amount sold Price per unit
250,000 0.320
200,000 0.325
50,000 0.345
100,000 0.340
In addition, Cantor Fitzgerald Europe (and affiliates) have undertaken certain
CFD and Spreadbet transactions (see below).
(3) Resultant total of the same class owned or controlled
(and percentage of class) 116,081,800 shares * (19.85%)
(4) Party making disclosure Cantor Fitzgerald Europe......
(5) EITHER (a) Name of purchaser/vendor (Note 1) Cantor Fitzgerald
Europe
OR (b) If dealing for discretionary client(s), name of
fund management organisation
......................................................................
(6) Reason for disclosure (Note 2)
(a) associate of (i) offeror (Note 3) NO
(ii) offeree company YES
Specify which category or categories of associate (1-8 overleaf) category 6
If category (8), explain .............................................
....................................................
......................................................................
.......................................................
(b) Rule 8.3 (ie disclosure because of ownership or control of 1% or
more of the class of relevant securities dealt in) YES
Signed, for and on behalf of the party named in (4) above .....................
........................................
(Also print name of signatory) Ross Tanton...................
Telephone and extension number 020 7894 7214..................
............
______________________________________
*In addition, Cantor Fitzgerald Europe (and affiliates) are party
to certain CFDs and Spreadbets ( see below)
Note 1. Specify owner, not nominee or vehicle company. If relevant, also
identify controller of owner, eg where an owner normally acts on instructions of
a controller.
Note 2. Disclosure might be made for more than one reason; if so, state all
reasons.
Note 3. Specify which offeror if there is more than one.
Note 4. When an arrangement exists with any offeror, with the offeree company or
with an associate of any offeror or of the offeree company in relation to
relevant securities, details of such arrangement must be disclosed, as required
by Note 6 on Rule 8.
Note 5. It may be necessary, particularly when disclosing derivative
transactions, to append a sheet to this disclosure form so that all relevant
information can be given. .-see attached
Note 6. In the case of an average price bargain, each underlying trade should be
disclosed.
For full details of disclosure requirements, see Rule 8 of the Code. If in
doubt, contact the Panel on Takeovers and Mergers, Monitoring Section, Tel. No:
020 7638 0129. E-mail:monitoring@disclosure.org.uk
Date of Disclosure: November 13, 2003
Form 8 Enclosure
Cantor Fitzgerald Europe is the beneficial owner of 116,081,800 Regus PLC
ordinary shares. 97,180,000 of these shares are held to hedge Contract for
Differences ("CFD") positions for clients and 18,901,800 of these shares are
held to hedge Spreadbet positions between Cantor Index Limited and other
clients.
There is a written agreement entered into on 15 January 2003 between Indigo
Capital L.L.C. and Cantor Fitzgerald Europe under which Indigo Capital L.L.C.
(1) controls Cantor Fitzgerald Europe's voting rights in relation to the
underlying Regus shares owned by Cantor Fitzgerald Europe to hedge the CFDs
entered into with Indigo Capital L.L.C. and (2) is entitled to acquire the
beneficial interest in such Regus shares. The number of underlying shares to
which this agreement relates is currently 74,350,000 Regus shares. This
agreement is open-ended and the prices at which Indigo Capital L.L.C. is
entitled to acquire the underlying shares to which the agreement relates are the
reference prices per Regus share as set out in the table below less any margin
payments to be made or which have been made by Indigo Capital L.L.C. to Cantor
Fitzgerald Europe in respect of the relevant CFDs. This arrangement does not
apply to the other 41,731,800 shares held by Cantor Fitzgerald Europe.
A Long CFD is a product where the client to whom the product is sold is taking a
long economic interest in the underlying share price such that the client can
realise a gain if the price of the underlying securities rises above the
reference price.
A Spread Bet is a product where the client to whom the product is sold can
realise a gain or a loss depending on whether the price of the underlying
security increases above or falls below the reference price. The client's
Spread bet position is described as his "stake". A "stake" is expressed in
pounds (sterling) per "point" and a "point" is the price in pence of the
underlying shares. A client with a "stake" of #100 per point will make a gain
of #100 for every penny increase in the underlying shares and he/she has an
exposure equivalent to 10,000 shares.
A purchaser of a Spread Bet or a CFD contract will realise a gain if the price
of the underlying security goes up. A seller of a Spread Bet or a CFD contract
will realise a gain if the price of the underlying security goes down.
Other than as set out above, there are no written or oral agreements between
Cantor Fitzgerald Europe and any clients concerning the control of voting rights
in relation to the underlying shares used to hedge the CFDs and Spreadbets.
The CFD contracts are open-ended and there is no rollover into new contracts
Contracts Date of 13-Nov-03
for Disclosure:
Differences
Regus Plc
Cantor Reference
Fitzgerald Underlying Price
Number
ProductName DateExecuted Buy/Sell Of Shares (pence)
Regus January Sell 100,000 19
Plc, Long 21, 2003
CFD
Regus January Sell 100,000 15.25
Plc, Long 21, 2003
CFD
Regus January Sell 50,000 15.5
Plc, Long 21, 2003
CFD
Regus May 15, Sell 200,000 33
Plc, Long 2003
CFD
Regus May 19, Sell 250,000 30
Plc, Long 2003
CFD
Regus May 19, Buy -75,000 29.5
Plc, Long 2003
CFD
Regus June 3, Sell 100,000 39
Plc, Long 2003
CFD
Regus June 3, Sell 100,000 39
Plc, Long 2003
CFD
Regus June 4, Sell 100,000 43
Plc, Long 2003
CFD
Regus June 6, Sell 500,000 44.5
Plc, Long 2003
CFD
Regus June 6, Sell 500,000 43
Plc, Long 2003
CFD
Regus June 24, Sell 12,855,000 36
Plc, Long 2003
CFD
Regus July 29, Sell 150,000 37.5
Plc, Long 2003
CFD
Regus July 30, Sell 150,000 36.5
Plc, Long 2003
CFD
Regus August 6, Sell 100,000 34
Plc, Long 2003
CFD
Regus August 27, Sell 150,000 38
Plc, Long 2003
CFD
Regus August 29, Sell 150,000 37.75
Plc, Long 2003
CFD
Regus August 29, Sell 250,000 36.75
Plc, Long 2003
CFD
Regus September Sell 250,000 34.5
Plc, Long 8, 2003
CFD
Regus September Sell 150,000 34
Plc, Long 12, 2003
CFD
Regus September Sell 150,000 33.25
Plc, Long 15, 2003
CFD
Regus September Sell 74,350,000 33
Plc, Long 16, 2003
CFD
Regus September Sell 750,000 35.33
Plc, Long 29, 2003
CFD
Regus September Sell 250,000 32.25
Plc, Long 30, 2003
CFD
Regus October Sell 200,000 36
Plc, Long 13, 2003
CFD
Regus October Sell 200,000 36.5
Plc, Long 14, 2003
CFD
Regus October Sell 600,000 35.25
Plc, Long 29, 2003
CFD
Regus October Sell 250,000 33
Plc, Long 31, 2003
CFD
Regus November Sell 250,000 33
Plc, Long 3, 2003
CFD
Regus November Sell 100,000 33
Plc, Long 3, 2003
CFD
Regus November Sell 100,000 33
Plc, Long 3, 2003
CFD
Regus November Sell 250,000 33
Plc, Long 4, 2003
CFD
Regus November Sell 250,000 33
Plc, Long 4, 2003
CFD
Regus November Sell 50,000 32.75
Plc, Long 5, 2003
CFD
Regus November Sell 250,000 33
Plc, Long 10, 2003
CFD
Regus November Sell 1,000,000 32
Plc, Long 10, 2003
CFD
Regus November Sell 250,000 32.5
Plc, Long 10, 2003
CFD
Regus November Sell 50,000 32.5
Plc, Long 10, 2003
CFD
Regus November Sell 1,000,000 31.75
Plc, Long 10, 2003
CFD
Regus November Sell 100,000 32
Plc, Long 11, 2003
CFD
Regus November Sell 250,000 32
Plc, Long 11, 2003
CFD
Regus November Sell 50,000 32
Plc, Long 11, 2003
CFD
Regus November Sell 100,000 32.5
Plc, Long 12, 2003
CFD
Regus November Sell 250,000 32
Plc, Long 12, 2003
CFD
97,180,000
CFD's
Closed Out
12-Nov-03 Open Close
Price Price
Regus November Sell 50,000 32.5 34.5
Plc, Long 10, 2003
CFD
Regus November Sell 100,000 32.5 34
Plc, Long 12, 2003
CFD
Spread
Bets
Regus Plc Cantor Reference
Fitzgerald Stake - # Price
per Point
ProductName DateExecuted Buy/Sell 1 Point = (pence)
1 pence
No Expiry June 13, Sell 2,500 38.615
2003
No Expiry June 13, Sell 5,000 38.5
2003
No Expiry June 13, Sell 2,500 35.356
2003
16-Dec-03 June 16, Buy 3,000 38.4
2003
16-Dec-03 June 17, Buy 5,000 31.45
2003
No Expiry June 17, Sell 2,000 32.096
2003
No Expiry June 17, Sell 2,000 31.093
2003
No Expiry June 17, Sell 3,000 31.093
2003
16-Dec-03 June 20, Buy 50 35.5
2003
16-Dec-03 June 20, Buy 50 35
2003
16-Dec-03 July 10, Buy 1,000 37.03
2003
16-Dec-03 July 14, Buy 1,000 36.42
2003
16-Dec-03 July 21, Buy 1,000 35.38
2003
No Expiry July 28, Sell 10,750 37.185
2003
No Expiry July 28, Sell 2,000 37.43
2003
No Expiry July 28, Sell 1,000 37.185
2003
16-Dec-03 August 6, Buy 100 33.5
2003
16-Dec-03 August 28, Sell 500 38.62
2003
16-Dec-03 August 29, Buy 75 36.6
2003
16-Dec-03 August 29, Buy 50 36.1
2003
16-Dec-03 September Buy 2,000 34.91
8, 2003
16-Dec-03 September Buy 25 35.24
10, 2003
16-Dec-03 September Buy 1,000 34.98
11, 2003
16-Dec-03 September Sell 3,500 33.97
11, 2003
16-Mar-04 September Buy 5,500 35.03
11, 2003
16-Mar-04 September Buy 1,000 35.03
11, 2003
16-Dec-03 September Buy 1,500 34.73
12, 2003
16-Dec-03 September Sell 25 34.64
15, 2003
16-Mar-04 September Buy 1,000 33.4
15, 2003
16-Dec-03 September Buy 10 34.46
15, 2003
16-Dec-03 September Buy 12 32.6
15, 2003
16-Dec-03 September Buy 50 31
15, 2003
16-Dec-03 September Buy 20 31.7
15, 2003
16-Dec-03 September Buy 70 32.45
16, 2003
16-Dec-03 September Buy 250 32.45
16, 2003
16-Dec-03 September Sell 56,500 32.61
16, 2003
16-Dec-03 September Sell 750 32.87
16, 2003
16-Dec-03 September Buy 60 32.7
16, 2003
No Expiry September Sell 2,500 32.5975
16, 2003
No Expiry September Sell 2,000 34.6035
18, 2003
16-Dec-03 September Sell 70,645 33.66
19, 2003
16-Dec-03 September Sell 30,010 33.66
19, 2003
No Expiry September Sell 8,500 33.6005
22, 2003
No Expiry September Sell 3,000 33.6005
25, 2003
No Expiry September Sell 3,000 33.099
25, 2003
No Expiry September Sell 10,000 32.5975
29, 2003
No Expiry September Sell 2,500 32.5975
30, 2003
16-Dec-03 September Buy 22,000 33.3
30, 2003
16-Dec-03 October 2, Sell 500 35.5
2003
16-Dec-03 October Buy 500 34
13, 2003
16-Mar-04 October Sell 40 37
20, 2003
16-Mar-04 October Sell 100 35
23, 2003
No Expiry November Sell 2,500 32.848
6, 2003
16-Mar-04 November Sell 20 36
6, 2003
16-Mar-04 November Buy 2,000 34.85
7, 2003
16-Mar-04 November Buy 2,000 32.31
11, 2003
16-Mar-04 November Buy 2,000 32.31
11, 2003
16-Mar-04 November Buy 1,000 32.31
11, 2003
No Expiry November Sell 10,000 32.096
11, 2003
No Expiry November Sell 5,000 32.096
11, 2003
53,322
242,340
Net Sell 189,018
END
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END
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