Rule 8.3- Easyscreen Plc
April 28 2005 - 12:36PM
UK Regulatory
RNS Number:6767L
Man Financial Limited
28 April 2005
Date Of Disclosure: 28/04/05
Fax to 020 7256 9386 (Take Over Panel) and 020 7588 6057 (RNS) 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.
DISCLOSURE UNDER RULES 8.1(a), 8.1(b)(i) AND 8.3 OF THE CITY CODE
ON TAKEOVERS AND MERGERS
Date of dealing 27/04/05
(1) Name of Company Dealing in Easyscreen
Class of securities ORDINARY SHARES
(2) Amount Bought Amount Sold Price (GBP)
1300000 0.1544
690000 0.1575
200000 0.1525
In addition, Man Financial Ltd have entered into CFD and Spread Betting
arrangements with its clients which are detailed below.
(3) Resultant total of the same class owned or controlled and percentage of
class 10,813,500 11.33%
(4) Party making disclosure MAN FINANCIAL LIMITED
(5) Name of purchaser/vendor (Note1) MAN FINANCIAL LIMITED
(6) Reason for disclosure (Note 2)
(a) Associate of (i) offeror (Note 3) - NO
(b) (i) offeree Company - NO
Specify which category or categories of associate (1-8 overleaf)
If category (8), explain Rule 8.3 (i.e. 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 Stewart Horner
Telephone and extension number 020-7144-4201
Note1. Specify owner, not nominee or vehicle company. If relevant, also
identify controller of owner, e.g. 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.
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
NOTES REGARDING DISCLOSURE
Man Financial Ltd ("MAN") is the beneficial owner of 10,813,500 Ordinary
Shares in the above company which are held to hedge CFD & Spread Betting
positions (see below) established between MAN and its clients. A Contract for
Difference or CFD is an agreement between two parties to exchange, at the close
of the contract, the difference between the opening price and the closing
price, multiplied by the number of reference shares specified within the
contract. The 'reference shares' are the underlying shares specified in the
CFD. The economic performance of the CFD is determined by the performance of
the underlying reference shares. Although CFDs replicate the price movement of
the underlying reference shares, they convey no right or requirement to acquire
or deliver the physical shares.
The contract value of a CFD is defined as the number of reference shares
specified in the contract, multiplied by the price of the underlying reference
share. If a client of Man takes a long position, the client will make a profit
if the contract value increases.
Conversely, if a client of Man takes a short position, the client will benefit
if the contract value falls.
The CFD contracts detailed below are open-ended and without predetermined
expiry/close value A Spread Bet is a product whereby 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. A
client's Spread bet position is described the client's "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 the
client has an exposure equivalent to 10,000 shares.
DEFINITION OF ASSOCIATE
It is not practicable to define associate in terms which would cover all the
different relationships which may exist in an offer. The term associate is
intended to cover all persons (whether or not acting in concert) who directly or
indirectly own or deal in the shares of an offeror or the offeree company in
an offer and who have (in addition to their normal interests as shareholders)
an interest or potential interest, whether commercial, financial or personal,
in the outcome of the offer Without prejudice to the generality of the
foregoing, the term associate will normally include the following:-
(1) an offeror's or the offeree company's parent, subsidiaries and fellow
subsidiaries, and their associated companies, and companies of which such
companies are associated companies (for this purpose ownership or control of
20% or more of the equity share capital of a company is regarded as the test of
associated company status);
(2) banks and financial and other professional advisers (including
stockbrokers)* to an offeror, the offeree company or any company covered in
(1), including persons controlling#, controlled by or under the same control as
such banks, financial and other professional advisers;
(3) the directors (together with their close relatives & related trusts) of an
offeror, the offeree company or any company covered in (1);
(4) the pension funds of an offeror, the offeree company or any company
covered in (1);
(5) any investment company, unit trust or other person whose investments an
associate manages on a discretionary basis, in respect of the relevant
investment accounts;
(6) a person who owns or controls 5% or more of any class of relevant
securities (as defined in paragraphs (a) to (d) in Note 2 on Rule 8) issued by
an offeror or an offeree company, including a person who as a result of any
transaction owns or controls 5% or more. When two or more persons act pursuant
to an agreement or understanding (formal or informal) to acquire or control
such securities, they will be deemed to be a single person for the purpose of
this paragraph. Such securities managed on a discretionary basis by an
investment management group will, unless otherwise agreed by the Panel, also be
deemed to be those of a single person (see Note 8 on Rule 8); and
(7) a company having a material trading arrangement with an offeror or the
offeree company. Paragraphs (1)-(7) are typical cases. Paragraph (8) below is a
category to cover associate status not within (1)-(7).
(8) Other.
CFDs CLOSED OUT
PRODUCT NAME POS. OPEN OPEN DATE CLOSE
Easyscreen SHORT CFD 25000 0.1975 12/10/04 0.1575
Easyscreen SHORT CFD 31500 0.2200 10/08/04 0.1525
Easyscreen SHORT CFD 100000 0.1825 22/11/04 0.1575
Easyscreen SHORT CFD 168500 0.2200 10/08/04 0.1525
Easyscreen SHORT CFD 200000 0.2900 09/07/04 0.1544
Easyscreen SHORT CFD 250000 0.1650 02/08/04 0.1544
Easyscreen SHORT CFD 250000 0.2075 28/07/04 0.1544
Easyscreen SHORT CFD 265000 0.1925 28/09/04 0.1575
Easyscreen SHORT CFD 300000 0.1825 13/12/04 0.1575
Easyscreen SHORT CFD 600000 0.2200 10/08/04 0.1544
CFD OPEN INTEREST
PRODUCT NAME EXECUTED MAN FIN LTD Ref Shares PRICE (GBP)
Easyscreen LONG CFD 25/04/05 SALE 150,000 0.1550
Easyscreen LONG CFD 22/04/05 SALE 100,000 0.1575
Easyscreen LONG CFD 11/04/05 SALE 200,000 0.1525
Easyscreen LONG CFD 23/03/05 SALE 250,000 0.1575
Easyscreen LONG CFD 07/02/05 SALE 205,000 0.1525
Easyscreen LONG CFD 07/02/05 SALE 100,000 0.1525
Easyscreen LONG CFD 02/02/05 SALE 25,000 0.1500
Easyscreen LONG CFD 25/01/05 SALE 75,000 0.1475
Easyscreen LONG CFD 30/12/04 SALE 25,000 0.1500
Easyscreen LONG CFD 13/12/04 SALE 200,000 0.1825
Easyscreen LONG CFD 02/12/04 SALE 875,000 0.1825
Easyscreen LONG CFD 25/11/04 SALE 350,000 0.1900
Easyscreen LONG CFD 23/11/04 SALE 200,000 0.1900
Easyscreen LONG CFD 12/11/04 SALE 250,000 0.1900
Easyscreen LONG CFD 11/11/04 SALE 125,000 0.1900
Easyscreen LONG CFD 08/11/04 SALE 250,000 0.1850
Easyscreen LONG CFD 05/11/04 SALE 1,925,000 0.1850
Easyscreen LONG CFD 05/11/04 SALE 50,000 0.1800
Easyscreen LONG CFD 03/11/04 SALE 200,000 0.1800
Easyscreen LONG CFD 03/11/04 SALE 100,000 0.1800
Easyscreen LONG CFD 02/11/04 SALE 650,000 0.1800
Easyscreen LONG CFD 01/11/04 SALE 175,000 0.1900
Easyscreen LONG CFD 20/10/04 SALE 50,000 0.1950
Easyscreen LONG CFD 19/10/04 SALE 100,000 0.1950
Easyscreen LONG CFD 07/10/04 SALE 100,000 0.1800
Easyscreen LONG CFD 05/10/04 SALE 250,000 0.1850
Easyscreen LONG CFD 15/09/04 SALE 450,000 0.2100
Easyscreen LONG CFD 17/08/04 SALE 1,250,000 0.2300
Easyscreen LONG CFD 12/08/04 SALE 250,000 0.2250
Easyscreen LONG CFD 10/08/04 SALE 718,500 0.2200
Easyscreen LONG CFD 13/07/04 SALE 200,000 0.2875
Easyscreen LONG CFD 04/03/04 SALE 750,000 0.3400
Easyscreen LONG CFD 11/02/04 SALE 40,000 0.3438
Easyscreen LONG CFD 04/02/04 SALE 150,000 0.2950
This information is provided by RNS
The company news service from the London Stock Exchange
END
RETUWVVRVBRSUAR
Energy Assets (LSE:EAS)
Historical Stock Chart
From Jun 2024 to Jul 2024
Energy Assets (LSE:EAS)
Historical Stock Chart
From Jul 2023 to Jul 2024
