7th Feb 2008 16:24
Notification of interests of directors/persons discharging managerial responsibility and connected persons pursuant to DTR 3.1.4 R(1)
7 February 2008
Friends Provident plc announces the transfer of 28,878 treasury shares from the Treasury Shares Account to the trustees of the Friends Provident plc Share Incentive Plan (SIP) at a price of ‚£1.417 per share to satisfy the obligation to issue shares to SIP participants in January 2008.
The Company has received notifications from the following persons discharging managerial responsibilities, including an executive director of the Company, that, of the 28,878 shares acquired by the Trustees, they have each acquired shares through the SIP as follows:
DIRECTORName Shares purchased on Total no. of shares held by directors and Connected 6 February 2008 Persons A R G Gunn 88 122,113
OTHER PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY
Name Shares purchased on Total number of shares held by persons 6 February 2008 discharging managerial responsibilities and Connected Persons S J Clamp 88 5,208 B Harrison 88 27,482 A P Jackson 88 9,765 R Sepe 88 27,415 J Stevens 88 26,659 P T Tunnicliffe 88 25,799 J A Ward 88 2,291
The executive director of Friends Provident plc participating in the SIP is to be regarded as interested in 6,370 shares out of the 2,111,851 shares held by the trustees of the SIP.
Dealing Disclosure Requirements
Under the provisions of Rule 8.3 of the Takeover Code (the "Code"), if any person is, or becomes, "interested" (directly or indirectly) in 1% or more of any class of "relevant securities" of Friends Provident plc, all "dealings" in any "relevant securities" of that company (including by means of an option in respect of, or a derivative referenced to, any such "relevant securities") must be publicly disclosed by no later than 3.30pm (London time) on the London business day following the date of the relevant transaction.
This requirement will continue until the date on which the offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the "offer period" otherwise ends. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire an "interest" in "relevant securities" of Friends Provident plc, they will be deemed to be a single person for the purpose of Rule 8.3.
Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevant securities" of Friends Provident by an offeror or Friends Provident, or by any of their respective "associates", must be disclosed by no later than 12.00 noon (London time) on the London business day following the date of the relevant transaction.
A disclosure table, giving details of the companies in whose "relevant securities" "dealings" should be disclosed, and the number of such securities in issue, can be found on the Takeover Panel's website at www.thetakeoverpanel.org.uk.
"Interests in securities" arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in the price of securities. In particular, a person will be treated as having an "interest" by virtue of the ownership or control of securities, or by virtue of any option in respect of, or derivative referenced to, securities.
Terms in quotation marks are defined in the Code, which can also be found on the Panel's website. If you are in any doubts as to whether or not you are required to disclose a "dealing" under Rule 8, you should consult the Panel.
Enquiries: Gordon Ellis, Group Secretary 0845 2683441
FRIENDS PROVIDENT PLCRelated Shares:
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