TIDMEQLS
RNS Number : 5949T
Equals Group PLC
15 November 2023
FORM 8.3
PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1%
OR MORE
Rule 8.3 of the Takeover Code (the "Code")
1. KEY INFORMATION
(a) Full name of discloser: Concert party established in 2014 at the time of the
Equals Group plc IPO
(b) Owner or controller of interests and short positions Ashley Levett
disclosed, if different from 1(a): Christian Levett
The naming of nominee or vehicle companies is Ian Strafford-Taylor
insufficient. For a trust, the trustee(s), Matthew Tawse
settlor and beneficiaries must be named. Richard Hills
Tom Breslin
Stephen Heath
Julian Bean
----------------------------------------------------------
(c) Name of offeror/offeree in relation to whose relevant Equals Group plc
securities this form relates:
Use a separate form for each offeror/offeree
----------------------------------------------------------
(d) If an exempt fund manager connected with an
offeror/offeree, state this and specify identity
of offeror/offeree:
----------------------------------------------------------
(e) Date position held/dealing undertaken: 14 November 2023
For an opening position disclosure, state the latest
practicable date prior to the disclosure
----------------------------------------------------------
(f) In addition to the company in 1(c) above, is the N/A
discloser making disclosures in respect
of any other party to the offer?
If it is a cash offer or possible cash offer, state "N/A"
----------------------------------------------------------
2. POSITIONS OF THE PERSON 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 following
the dealing (if any)
Class of relevant security: 1p Ordinary
Interests Short positions
--------------------- ------------------
Number % Number %
------------ ------------- ---
(1) Relevant securities owned and/or controlled: 32,557,041* 17.52%
------------ ------- ------------- ---
(2) Cash-settled derivatives:
------------ ------- ------------- ---
(3) Stock-settled derivatives (including options) and agreements to
purchase/sell:
------------ ------- ------------- ---
TOTAL: 32,557,041* 17.52%
------------ ------- ------------- ---
* Please see full breakdown of interests below.
Breakdown of concert party interests
Shareholder Interests Percentage
Ashley Levett 22,291,833 12.00%
------------------ ------------------
Christian Levett 2,144,989 1.15%
------------------ ------------------
Ian Strafford-Taylor*(+) 2,208,226 1.18%
------------------ ------------------
Matthew Tawse 180,000 0.09%
------------------ ------------------
Richard Hills 373,500 0.20%
------------------ ------------------
Tom Breslin 460,152 0.24%
------------------ ------------------
Stephen Heath 4,898,341 2.63%
------------------ ------------------
Julian Bean Options only (see Options only (see
below) below)
------------------ ------------------
32,557,041 17.52%
------------------ ------------------
* Figure includes 7,976 shares beneficially held by Ian
Strafford-Taylor and legally held by the share incentive plan
trustee pursuant to the Equals Group PLC Share Incentive Plan
("SIP").
(+) Ian Strafford-Taylor's interests are also disclosed on the
Company's OPD as released via RNS number: 4621T on 15 November 2023
at 07:00.
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).
(b) Rights to subscribe for new securities (including directors' and other employee options)
Class of 1p Ordinary
relevant
security in
relation to
which
subscription
right exists:
Details,
including Ian Strafford-Taylor (+)
nature of the Number Share Date of Exercise Vesting Expiry
rights of plan under grant price date / period
concerned and ordinary which (per share) first / final
relevant shares option (GBP) date of date for
percentages: in Equals or award exercise exercise
Group PLC was granted
under
option
or subject
to an
award
Standalone
option 22 July 4 November 28 July
192,950 agreement 2014 0.2184 2015 2024
------------ ---------------- -------------- ------------- ------------
Standalone
option 22 July 4 November 28 July
1,789,300 agreement 2014 0.3644 2015 2024
------------ ---------------- -------------- ------------- ------------
Standalone
option 28 July 4 November 28 July
1,535,750 agreement 2014 0.3644 2015 2024
------------ ---------------- -------------- ------------- ------------
28 September
2017 27
28 September (250,000 September
750,000 EMI Plan*** 2016 0.2975 shares) 2026
------------ ---------------- -------------- ------------- ------------
28 September
2018
(250,000
shares)
------------ ------------ ------------ ------------- ------------
28 September
2019
(250,000
shares)
------------ ------------ ------------ ------------- ------------
30 April
Standalone 2021
option 1 September (666,667 1 September
2,000,000 agreement 2020 0.29 shares) 2030
------------ ---------------- -------------- ------------- ------------
30 April
2022
(666,667
shares)
------------ ------------ ------------ ------------- ------------
30 April
2023
(666,666
shares)
------------ ------------ ------------ ------------- ------------
750,000 LTIP**** 18 October Nil 18 October N/A
2021 2024
------------ ---------------- -------------- ------------- ------------
637,500 LTIP 14 December Nil 14 December N/A
2022 2025
-------------- ------------ -------------- ------------- --------------
550,000 LTIP 3 November Nil 3 November N/A
2023 2026
-------------- ------------ -------------- ------------- --------------
2,024 SIP***** 4 December Nil 4 December N/A
2023 2026
-------------- ------------ -------------- ------------- --------------
*** the FairFX Group Share Option Plan.
**** the Equals Group PLC 2021 Discretionary Incentive Plan under which conditional share
awards (not options to acquire shares) are granted.
***** Share awards pursuant to the SIP which are due to be issued to the SIP trustee but will
be beneficially held by Ian Strafford-Taylor, at the end of a 25 day opt-out period, with
a grant date of 4 December 2023.
SIP shares are subject to forfeiture on termination of employment (other than as a "good leaver").
(+) Ian Strafford-Taylor's holding is also disclosed on the Company's OPD as released via
RNS number: 4621T on 15 November 2023 at 07:00.
Julian Bean
Number Share Date of Exercise Vesting Expiry
of ordinary plan under grant price date / period
shares which option (per share) first date / final
in Equals or award (GBP) of exercise date for
Group PLC was granted exercise
under option
or subject
to an award
Standalone
option 22 July 4 November 21 July
200,000 agreement 2014 0.0730 2015 2024
------------- ------------- ------------- ------------- -------------
Standalone
option 22 July 4 November 21 July
254,800 agreement 2014 0.2184 2015 2024
------------- ------------- ------------- ------------- -------------
Standalone
option 22 July 4 November 21 July
400,000 agreement 2014 0.3644 2015 2024
------------- ------------- ------------- ------------- -------------
Standalone
option 28 September 4 November 27 September
50,000 agreement 2016 0.2975 2015 2026
------------- ------------- ------------- ------------- -------------
-----------------------------------------------------------------------------------------------------
3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE
Where there have been dealings in more than one class of
relevant securities of the offeror or offeree named in 1(c), copy
table 3(a), (b), (c) or (d) (as appropriate) for each additional
class of relevant security dealt in.
The currency of all prices and other monetary amounts should be
stated.
(a) Purchases and sales
Class of relevant security Purchase/sale Number of securities Price per unit
(b) Cash-settled derivative transactions
Class of relevant Product description Nature of dealing Number of reference Price per unit
security e.g. CFD e.g. opening/closing a securities
long/short position,
increasing/reducing a
long/short position
(c) Stock-settled derivative transactions (including options)
(i) Writing, selling, purchasing or varying
Class of Product Writing, Number of Exercise Type Expiry date Option money
relevant description purchasing, securities price per e.g. paid/
security e.g. call selling, to which unit American, received per
option varying etc. option European unit
relates etc.
(ii) Exercise
Class of relevant Product description Exercising/ exercised Number of securities Exercise price per
security e.g. call option against unit
(d) Other dealings (including subscribing for new securities)
Class of relevant security Nature of dealing Details Price per unit (if applicable)
e.g. subscription, conversion
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 person making the disclosure and any party to the offer or
any person acting in concert with a party to the offer:
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 person
making the disclosure 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
Is a Supplemental Form 8 (Open Positions) attached? No
Date of disclosure: 15 November 2023
Contact name: Ian Strafford-Taylor
---------------------
Telephone number*: +44 (0) 20 7778 9308
---------------------
Public disclosures under Rule 8 of the Code must be made to a
Regulatory Information Service.
The Panel's Market Surveillance Unit is available for
consultation in relation to the Code's disclosure requirements on
+44 (0)20 7638 0129.
*If the discloser is a natural person, a telephone number does
not need to be included, provided contact information has been
provided to the Panel's Market Surveillance Unit.
The Code can be viewed on the Panel's website at
www.thetakeoverpanel.org.uk .
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END
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