TIDMGED
RNS Number : 4691J
Global Energy Development PLC
30 June 2011
EXHIBIT 2
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 GLOBAL ENERGY DEVELOPMENT PLC
making the disclosure:
(b) Owner or controller of interests and
short positions disclosed, if different
from 1(a): The naming of nominee or
vehicle companies is insufficient
------------------------------
(c) Name of offeror/offeree in relation GLOBAL ENERGY DEVELOPMENT PLC
to whose relevant securities this form
relates: Use a separate form for each
party to the offer
------------------------------
(d) Is the party to the offer making the OFFEREE
disclosure the offeror or the offeree?
------------------------------
(e) Date position held: 29.6.11
------------------------------
(f) Has the party previously disclosed, NO
or is it today disclosing, under the Code If YES, specify which:
in respect of any other party to this
offer?
------------------------------
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
Interests Short positions
------------ ------------------
Number % Number %
-------- ------------- ---
(1) Relevant securities owned and/or NONE NONE
controlled:
-------- ------------- ---
(2) Derivatives (other than options): NONE NONE
-------- ------------- ---
(3) Options and agreements to NONE NONE
purchase/sell:
-------- ------------- ---
TOTAL: NONE NONE
-------- ------------- ---
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 N/A
right exists:
Details, including nature of the rights concerned N/A
and relevant percentages:
----
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:
Stephen Voss, a director of the offeree, holds 113,068
ordinary shares in the offeree and the options over
ordinary shares in the offeree as described in the
table below. As stated in the announcement of a mandatory
offer to be made for the company released by HKN Inc.
on 16 June 2011, Mr Voss has given an undertaking
to HKN Inc. not to accept the mandatory offer in respect
of these options.
David Quint - a director of the offeree, holds 94,390
ordinary shares in the offeree and the options over
ordinary shares in the offeree as described in the
table below.
Alan Henderson - a director of the offeree, holds
14,527 ordinary shares in the offeree and the options
over ordinary shares in the offeree as described in
the table below.
Name Number Date of Exercise Expiry
of grant price date
options pence
over
Global
Shares
Stephen 840,000 31 50p 31
Voss 150,000 January 151.1p January
50,000 2002 3 100p 2014 3
160,000 December 70p December
2004 11 2014 11
February February
2008 11 2018 11
December December
2008 2018
-------- --------- --------- ---------
Alan 30,000 3 151.1p 3
Henderson 20,000 December 265.1p December
50,000 2004 8 100p 2014 8
50,000 December 70p December
2005 11 2015 11
February February
2008 11 2018 11
December December
2008 2018
-------- --------- --------- ---------
David 30,000 3 151.1p 3
Quint 20,000 December 265.1p December
50,000 2004 8 100p 2014 8
50,000 December 70p December
2005 11 2015 11
February February
2008 11 2018 11
December December
2008 2018
-------- --------- --------- ---------
For further details regarding the above options see
note 27 to the 31 December 2010 annual report and
accounts.
Matrix Corporate Capital LLP - advisers to the offeree,
holds 252,665 ordinary shares in the offeree.
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: 30.6.11
Anna Williams, Director of Corporate Communications
Contact name: and Special Projects, Global Energy Development PLC
-----------------------------------------------------
Telephone number: 001 817 773 1502
-----------------------------------------------------
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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