TIDMCOST TIDMMAYG
RNS Number : 9533A
Costain Group PLC
26 March 2013
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) Identity of the party to the offer making the COSTAIN GROUP PLC ("Costain")
disclosure:
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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
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(c) Name of offeror/offeree in relation to whose relevant COSTAIN GROUP PLC
securities this form relates:
Use a separate form for each party to the offer
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(d) Is the party to the offer making the disclosure the OFFEROR
offeror or the offeree?
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(e) Date position held: 26 MARCH 2013
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(f) Has the party previously disclosed, or is it today YES, ON THE FORM RELATING TO MAY GURNEY INTEGRATED
disclosing, under the Code in respect SERVICES PLC SHARES
of any other party to this offer?
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2. POSITIONS OF THE PARTY TO THE OFFER MAKING THE DISCLOSURE
(a) Interests and short positions in the relevant securities of
the offeror or offeree to which the disclosure relates
Class of relevant security: Ordinary Shares
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Interests Short positions
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Number % Number %
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(1) Relevant securities owned and/or controlled: Nil Nil
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(2) Derivatives (other than options): Nil Nil
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(3) Options and agreements to purchase/sell: Nil Nil
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Nil Nil
TOTAL:
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All interests and all short positions should be disclosed.
Details of any open derivative or option positions, 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
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Details, including nature of the rights concerned and relevant percentages: N/A
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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.
(c) Irrevocable commitments and letters of intent
Details of any irrevocable commitments or letters of intent procured by the party to the offer
making the disclosure or any person acting in concert with it (see Note 3 on Rule 2.11 of
the Code):
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See below
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Undertakings procured in respect of Costain Shares
Name of Costain Director Number of Costain Approximate % of
Shares in relation Costain issued share
to which irrevocable capital
commitments have
been procured
-------------------------- ---------------------- ----------------------
David Allvey 5,250 0.008
-------------------------- ---------------------- ----------------------
Andrew Wyllie 200,242 0.306
-------------------------- ---------------------- ----------------------
Anthony Bickerstaff 117,198 0.179
-------------------------- ---------------------- ----------------------
Michael Alexander 18,364 0.028
-------------------------- ---------------------- ----------------------
James Morley 27,000 0.041
-------------------------- ---------------------- ----------------------
TOTAL 368,264 0.56%[1]
-------------------------- ---------------------- ----------------------
These irrevocable undertakings include undertakings to vote in
favour of the resolutions to be proposed at the Costain General
Meeting to approve the Merger and related matters.
These irrevocable undertakings stipulate that they will cease to
be binding if the announcement to be made under rule 2.7 of the
Code is not released by 31 May 2013 (or such later date as Costain
may determine).
Name of Costain Shareholder Number of Costain Approximate % of
Shares in relation Costain issued share
to which irrevocable capital
commitments have
been procured
----------------------------- ---------------------- ----------------------
UEM Builders Berhad 13,810,850 21.07%
----------------------------- ---------------------- ----------------------
Mohammed Abdulmohsin
AI-Kharafi & Sons
Co. W.L.L. 13,789,490 21.04%
----------------------------- ---------------------- ----------------------
TOTAL 27,600,340 42.11%
----------------------------- ---------------------- ----------------------
These irrevocable undertakings include undertakings to vote in
favour of the resolutions to be proposed at the Costain General
Meeting to approve the Merger and related matters.
These irrevocable undertakings will cease to be binding if the
Costain General Meeting is held after, or the resolutions to be
proposed at the Costain General Meeting are not passed by, 30
September 2013.
Note: defined terms used in this section 2 but not defined in
this announcement have the meaning given to them in the
announcement made under rule 2.7 of the Code by Costain and May
Gurney Integrated Services plc dated 26 March 2013.
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 of any person acting in
concert with the party to the offer making the disclosure:
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See below
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3.1 Shares held by directors of Costain
Director Number of Costain Approximate % of
shares Costain issued share
capital
--------------------- ------------------ ----------------------
David Allvey 5,250 0.008%
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Andrew Wyllie 200,452 0.306%
--------------------- ------------------ ----------------------
Anthony Bickerstaff 117,198 0.179%
--------------------- ------------------ ----------------------
Michael Alexander 18,364 0.028%
--------------------- ------------------ ----------------------
James Morley 27,000 0.041%
--------------------- ------------------ ----------------------
3.2 Rights to subscribe in Costain
Costain Deferred Share Bonus Plan
Director Date of grant Number of Option exercise Option exercise
options price (GBP) period
-------------------- -------------- ---------- ---------------- ----------------
Andrew Wyllie 12 April 82,644 Nil April 2013
2011 - 2021
-------------------- -------------- ---------- ---------------- ----------------
04 April 78,258 Nil April 2014
2012 - 2022
-------------------- -------------- ---------- ---------------- ----------------
Anthony Bickerstaff 12 April 54,752 Nil April 2013
2011 - 2021
-------------------- -------------- ---------- ---------------- ----------------
04 April 51,846 Nil April 2014
2012 - 2022
-------------------- -------------- ---------- ---------------- ----------------
Costain Long-Term Incentive Plan
Director Date of grant Number Option exercise Option exercisable
of options price (GBP) from
--------------------- --------------- ------------ ---------------- -------------------
14 April
Andrew Wyllie 2010 81,632 1.00 March 2013
--------------------- --------------- ------------ ---------------- -------------------
12 April
2011 169,294 1.00 March 2014
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09 May 2012 207,044 1.00 March 2015
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14 April
Anthony Bickerstaff 2010 54,081 1.00 March 2013
--------------------- --------------- ------------ ---------------- -------------------
12 April
2011 112,157 1.00 March 2014
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09 May 2012 137,167 1.00 March 2015
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Costain Save As You Earn Options
Director Date of grant Number Option exercise Option exercise
of options price (GBP) period
--------------------- --------------- ------------ ---------------- ----------------
11 October November 2014
Andrew Wyllie 2011 1,633 2.05 - May 2015
--------------------- --------------- ------------ ---------------- ----------------
11 October November 2014
Anthony Bickerstaff 2011 1,633 2.05 - May 2015
--------------------- --------------- ------------ ---------------- ----------------
3.3 Interests of persons presumed to be acting in concert with
Costain
Name of Costain Shareholder Number of Costain Approximate % of
Shares Costain issued share
capital
----------------------------- ------------------ ----------------------
UEM Builders Berhad 13,810,850 21.07%
----------------------------- ------------------ ----------------------
Mohammed Abdulmohsin
AI-Kharafi & Sons
Co. W.L.L. 13,789,490 21.04%
----------------------------- ------------------ ----------------------
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 3 for each additional class of
relevant security.
Details of any open derivative or option positions, 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:
If there are no such agreements, arrangements or understandings, state "none"
------------------------------------------------------------------------------------------------
None
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(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"
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None
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(c) Attachments
Are any Supplemental Forms attached?
Supplemental Form 8 (Open Positions) NO
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Supplemental Form 8 (SBL) NO
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(1): Date of disclosure: 26 March 2013
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(2): Contact name: Tom O'Neill
Slaughter and May
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(3): Telephone number +44 (0)20 7600 1200
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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.
[1] Percentages may not add due to rounding.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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