TIDMWRN
RNS Number : 6992L
Worthington Group PLC
29 April 2015
Worthington Group plc ("the Company" or "Worthington")
29(th) April 2015
FOR IMMEDIATE RELEASE
Disclosure announcement under rule 8.1 and 8.2 of the Takeover
Code
In accordance with Takeover Code rule 8.1 & 8.2, the Company
makes the following announcement:
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: Worthington Group Plc
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(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.
--------------------------------------------------------------------------------------------- ----------------------
(c) Name of offeror/offeree in relation to whose relevant securities this form relates: Worthington Group Plc
Use a separate form for each offeror/offeree
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(d) Is the discloser the offeror or the offeree? OFFEREE
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(e) Date position held: 28(th) April 2015
The latest practicable date prior to the disclosure
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(f) In addition to the company in 1(c) above, is the discloser making disclosures in respect NO
of any other party to the offer?
If it is a cash offer or possible cash offer, state "N/A"
--------------------------------------------------------------------------------------------- ----------------------
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: None None
----------------------------------------------------------------------------------- -------- ------------- ---
(2) Cash-settled derivatives: None None
----------------------------------------------------------------------------------- -------- ------------- ---
(3) Stock-settled derivatives (including options) and agreements to purchase/sell: None None
----------------------------------------------------------------------------------- -------- ------------- ---
None None
TOTAL:
----------------------------------------------------------------------------------- -------- ------------- ---
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: None
---------------------------------------------------------------------------- -----
Details, including nature of the rights concerned and relevant percentages: None
---------------------------------------------------------------------------- -----
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:
-----------------------------------------------------------------------------------------------------
Mr Douglas Ware, director of Worthington Group Plc and controller of European & Asian Ltd,
3(rd) Floor, Jonsim Place, 228 Queen's Road East, Wanchai, Hong Kong, owner of relevant securities
for the benefit of Mr Ware's family:
Class of relevant security: Ordinary Shares Worthington Group Plc
---------------------------------------- ----------------------------------------------
Interests Short positions
---------------------------------------- -------------------------- ------------------
Number % Number %
---------------------------------------- -------------- ---------- ------------- ---
(1) Relevant securities owned and/or
controlled: 785,000 3.14% None
---------------------------------------- -------------- ---------- ------------- ---
(2) Cash-settled derivatives: None None
---------------------------------------- -------------- ---------- ------------- ---
(3) Stock-settled derivatives None None
(including options) and agreements to
purchase/sell:
---------------------------------------- -------------- ---------- ------------- ---
TOTAL: 785,000 3.14% None
---------------------------------------- -------------- ---------- ------------- ---
Class of relevant Secured Convertible Loan Notes at 10p 2019 Worthington Group Plc
security:
--------------------- -----------------------------------------------------------------
Interests Short positions
--------------------- --------------------------------------- ------------------------
Number % Number %
--------------------- -------------------- ----------------- ----------------- -----
(1) Relevant
securities owned
and/or controlled: 3,024,000 65.54% None
--------------------- -------------------- ----------------- ----------------- -----
(2) Cash-settled None None
derivatives:
--------------------- -------------------- ----------------- ----------------- -----
(3) Stock-settled None None
derivatives
(including options)
and agreements to
purchase/sell:
--------------------- -------------------- ----------------- ----------------- -----
TOTAL: 3,024,000 65.54% None
--------------------- -------------------- ----------------- ----------------- -----
Class of relevant security: Placing Warrants exercisable at 10p 2017
Worthington Group Plc
------------------------------------- -------------------------------------------------
Interests Short positions
------------------------------------- ----------------------------- ------------------
Number % Number %
------------------------------------- ---------------- ----------- ------------- ---
(1) Relevant securities owned and/or
controlled: 3,024,000 25.20% None
------------------------------------- ---------------- ----------- ------------- ---
(2) Cash-settled derivatives: None None
------------------------------------- ---------------- ----------- ------------- ---
(3) Stock-settled derivatives None None
(including options) and agreements
to purchase/sell:
------------------------------------- ---------------- ----------- ------------- ---
TOTAL: 3,024,000 25.20% None
------------------------------------- ---------------- ----------- ------------- ---
Class of relevant Warrants exercisable at 10p 2020 Worthington Group Plc
security:
------------------------- -------------------------------------------------------------
Interests Short positions
------------------------- --------------------------------------- --------------------
Number % Number %
------------------------- ---------------------- --------------- -------------- ----
(1) Relevant securities
owned and/or
controlled: 8,000,000 80.00% None
------------------------- ---------------------- --------------- -------------- ----
(2) Cash-settled None None
derivatives:
------------------------- ---------------------- --------------- -------------- ----
(3) Stock-settled None None
derivatives (including
options) and agreements
to purchase/sell:
------------------------- ---------------------- --------------- -------------- ----
TOTAL: 8,000,000 80.00% None
------------------------- ---------------------- --------------- -------------- ----
Mr Richard Spurway, director of Worthington Group Plc, owner of relevant securities:
Class of relevant security: Placing Warrants exercisable at 10p 2017
Worthington Group Plc
-------------------------------------- ------------------------------------------------
Interests Short positions
-------------------------------------- ---------------------------- ------------------
Number % Number %
-------------------------------------- --------------- ----------- ------------- ---
(1) Relevant securities owned and/or
controlled: 240,000 2.00% None
-------------------------------------- --------------- ----------- ------------- ---
(2) Cash-settled derivatives: None None
-------------------------------------- --------------- ----------- ------------- ---
(3) Stock-settled derivatives None None
(including options) and agreements to
purchase/sell:
-------------------------------------- --------------- ----------- ------------- ---
TOTAL: 240,000 2.00% None
-------------------------------------- --------------- ----------- ------------- ---
Class of relevant security: Warrants exercisable at 10p 2020
Worthington Group Plc
------------------------------------------ --------------------------------------------
Interests Short positions
------------------------------------------ ------------------------ ------------------
Number % Number %
------------------------------------------ ------------- --------- --------------
(1) Relevant securities owned and/or
controlled: 2,000,000 20.00% None
------------------------------------------ ------------- --------- --------------
(2) Cash-settled derivatives: None None
------------------------------------------ ------------- --------- --------------
(3) Stock-settled derivatives (including None None
options) and agreements to purchase/sell:
------------------------------------------ ------------- --------- --------------
TOTAL: 2,000,000 20.00% None
------------------------------------------ ------------- --------- --------------
-----------------------------------------------------------------------------------------------------
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: 29(th) April 2015
--------------------- --------------------------
Contact name: Mr Douglas Ware, Director
--------------------- --------------------------
Telephone number: 0207 769 6741
--------------------- --------------------------
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 disclosure requirements on +44 (0)20 7638 0129.
The Code can be viewed on the Panel's website at
www.thetakeoverpanel.org.uk.
About Worthington Group Plc ("Worthington")
Worthington (Stock Exchange LSE: WRN) is a British investment
company that celebrates its 61st anniversary as a London Stock
Exchange main market listed company this year. The Company has four
areas of investment focus: property, litigation claims, new economy
and emerging markets. The Company believes that exceptional
shareholder returns can be achieved by utilising its main market
Sterling paper to acquire investments in these sectors
worldwide.
Note: Forward-looking statements contained in this announcement,
including Worthington's strategy and plans, as well as expectations
for future revenue and earnings, reflect Worthington's current
views and assumptions with respect to future events and are subject
to certain risks, uncertainties and assumptions. There are many
factors that may cause actual results achieved to differ materially
from expectations for future results and expectations that may be
expressed in or form an assumption of such forward-looking
statements. Such factors include risks related to the day to day
business of Worthington, client volatility, sales fluctuations, the
general economic climate, political and environment and other
risks, cancellations, software failures and interruption to service
to customers due to technical problems, acquisition delays and
failure as well as other uncertainties related to the results of
Worthington including risks of delays or closure of projects, price
falls, currency fluctuations and changes in contract terms,
legislation and administrative practices, as well as competition
risk and other unforeseen factors. If one or more of such risks or
factors of uncertainty were to materialise, or should one or more
of the statements provided prove to be incorrect, actual
developments may differ materially from the forward-looking
statements contained in this announcement.
Enquiries:
Media information Tel: +44 203 291 1872
or email: media@worthingtongroupplc.com
PD Cosec - Company Secretary Tel: +44 208 940 0963
Website: www.worthingtongroupplc.com
Statement ends.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCGMGZDMLGGKZM
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