14th Nov 2012 11:45
FORM 8 (OPD)
AMENDED PUBLIC OPENING POSITION DISCLOSURE BY A PARTY TO AN OFFER TO INCLUDE OPTION INFORMATION
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 disclosure: | Metric Property Investments plc |
(b) Owner or controller of interests and short positions disclosed, if different from 1(a): The naming of nominee or vehicle companies is insufficient | N/A |
(c) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each party to the offer | Metric Property Investments plc |
(d) Is the party to the offer making the disclosure the offeror or the offeree? | OFFEREE |
(e) Date position held: | 8 November 2012 |
(f) Has the party previously disclosed, or is it today disclosing, under the Code in respect of any other party to this offer? | NO
|
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 of 1 penny each | |||
| Interests | Short positions | ||
Number | % | Number | % | |
(1) Relevant securities owned and/or controlled: | None | N/A | None | N/A |
(2) Derivatives (other than options): | None | N/A | None | N/A |
(3) Options and agreements to purchase/sell: | None | N/A | None | N/A |
TOTAL: | None | N/A | None | N/A |
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: | None |
Details, including nature of the rights concerned and relevant percentages: | None |
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): |
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 of any person acting in concert with the party to the offer making the disclosure: |
See below
|
3.1 Shares held by the directors of Metric Property Investments plc
Name of director | Number of shares | Percentage of issued share capital |
Andrew Jones | 2,055,720 | 1.08 |
Valentine Beresford | 2,109,693 | 1.11 |
Mark Stirling | 1,534,693 | 0.81 |
Sue Ford | 76,808 | 0.04 |
Andrew Huntley | 100,000 | 0.05 |
Alec Pelmore | 75,000 | 0.04 |
Andrew Varley | 50,000 | 0.03 |
Philip Watson | 100,000 | 0.05 |
3.2 Options over shares held by the directors of Metric Property Investments plc (Subject to meeting performance criteria - 30% of a Matching Share Award ("MSA") will vest if the Company achieves median performance relative to the peer group with 100% of a MSA vesting if the Company achieves upper quartile performance relative to the peer group. Straight-line vesting of a MSA will occur between these two points. The calculation will be independently performed by the Metric remuneration committee. Participants will receive a MSA delivered as an award of shares equal to two times the number of bonus shares acquired.)
Name of director | Number of shares over which options held | Percentage of issued share capital | Award Date | Exercise Date |
Andrew Jones | 111,440 | 0.06 | 31 May 2011 | 31 May 2014 |
Valentine Beresford | 69,386 | 0.04 | 31 May 2011 | 31 May 2014 |
Mark Stirling | 69,386 | 0.04 | 31 May 2011 | 31 May 2014 |
Sue Ford | 53,616 | 0.04 | 31 May 2011 | 31 May 2014 |
Andrew Huntley | Nil | Nil | - | - |
Alec Pelmore | Nil | Nil | - | - |
Andrew Varley | Nil | Nil | - | - |
Philip Watson | Nil | Nil | - | - |
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
|
(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: | 14 November 2012 |
| Contact name: | Richard Howell |
| Telephone number: | +44 (0) 20 7016 1890 |
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 [email protected]. 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.
Related Shares:
METP.L