TIDMLSL
RNS Number : 1584F
LSL Property Services PLC
05 March 2020
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) Full name of discloser: LSL Property Services Plc
(b) Owner or controller of interests and short positions disclosed, if different from N/A
1(a):
The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s),
settlor and beneficiaries must be named.
--------------------------
(c) Name of offeror/offeree in relation to whose relevant securities this form relates: LSL Property Services Plc
Use a separate form for each offeror/offeree
--------------------------
(d) Is the discloser the offeror or the offeree? OFFEROR
--------------------------
(e) Date position held: 4 March 2020
The latest practicable date prior to the disclosure
--------------------------
(f) In addition to the company in 1(c) above, is the discloser making disclosures in N/A
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 PARTY TO THE OFFER 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
Class of relevant security: Ordinary shares of 0.2p in LSL Property Services Plc
Interests Short positions
------------------------------ ----------------------------
Number % Number %
---------------- ------------ -------------- ------------
(1) Relevant securities owned and/or controlled: Nil 0.000 Nil 0.000
---------------- ------------ -------------- ------------
(2) Cash-settled derivatives: Nil 0.000 Nil 0.000
---------------- ------------ -------------- ------------
(3) Stock-settled derivatives (including options) and
agreements to purchase/sell: Nil 0.000 Nil 0.000
---------------- ------------ -------------- ------------
TOTAL: Nil 0.000 Nil 0.000
---------------- ------------ -------------- ------------
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).
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: N/A
Details, including nature of the rights concerned and relevant percentages: N/A
----
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 (including directors' and
other employee options) of any person acting in concert with the party to the offer making
the disclosure:
(A) Interests held by the directors of LSL Property Services Plc and their close relatives
and related trusts:
Director No. of ordinary Percentage of
shares of 0.2p issued share
each held capital
Gaby Appleton Nil 0.000%
---------------- --------------
Helen Buck 2,327 0.002%
---------------- --------------
Adam Castleton 3,321 0.003%
---------------- --------------
Ian Crabb 81,942 0.079%
---------------- --------------
Simon Embley 6,777,291 6.507%
---------------- --------------
Darrell Evans Nil 0.000%
---------------- --------------
Bill Shannon 25,329 0.024%
---------------- --------------
David Stewart Nil 0.000%
---------------- --------------
(B) Interests held as options or awards by directors of LSL Property Services Plc under certain
of its share plans, being the LSL Share Incentive Plan ("SIP"), LSL Long Term Incentive Plan
("LTIP"), and legacy Joint Share Ownership Plan ("JSOP") which have vested but where the director
has not exercised their right to acquire or receive the shares:
Director Scheme No. of ordinary Vesting date Percentage
shares of 0.2p of issued
each under option share capital
/ award
23 September
Ian Crabb LTIP 49,228 2016 0.047%
-------- ------------------- ------------- ---------------
SIP 4,942 N/A(1) 0.005%
----------------------- ------------------- ------------- ---------------
Simon Embley JSOP 83,928 1 June 2013 0.081%
-------- ------------------- ------------- ---------------
CSOP 12,500 11 June 2013 0.012%
----------------------- ------------------- ------------- ---------------
LTIP 58,333 2 April 2015 0.056%
----------------------- ------------------- ------------- ---------------
(1) SIP awards are made on a monthly basis. Accordingly, shares acquired and/or awarded in
connection with the SIP do not have a vesting date.
(C) Interests held as options or awards by directors of LSL Property Services Plc under certain
of its share plans, being the LSL Sharesave Plan ("SAYE") and LTIP which have not yet vested:
Director Scheme No. of ordinary Vesting date Percentage
shares of 0.2p of issued
each under option share capital
/ award (2)
Helen Buck LTIP: 143,198 30 March 2020 0.138%
-------- ------------------- -------------- ---------------
173,405 29 March 2021 0.167%
------------------------- ------------------- -------------- ---------------
151,470 29 March 2022 0.145%
------------------------- ------------------- -------------- ---------------
SAYE: 2,511 1 June 2020 0.002%
------------------------- ------------------- -------------- ---------------
1,469 1 June 2021 0.001%
------------------------- ------------------- -------------- ---------------
2,037 1 June 2022 0.002%
------------------------- ------------------- -------------- ---------------
Adam Castleton LTIP: 140,334 30 March 2020 0.135%
-------- ------------------- -------------- ---------------
169,988 29 March 2021 0.163%
------------------------- ------------------- -------------- ---------------
148,529 29 March 2022 0.143%
------------------------- ------------------- -------------- ---------------
SAYE: 2,511 1 June 2020 0.002%
------------------------- ------------------- -------------- ---------------
1,469 1 June 2021 0.001%
------------------------- ------------------- -------------- ---------------
Ian Crabb LTIP: 193,794 30 March 2020 0.186%
-------- ------------------- -------------- ---------------
234,624 29 March 2021 0.225%
------------------------- ------------------- -------------- ---------------
220,098 29 March 2022 0.211%
------------------------- ------------------- -------------- ---------------
SAYE: 2,511 1 June 2020 0.002%
------------------------- ------------------- -------------- ---------------
1,469 1 June 2021 0.001%
------------------------- ------------------- -------------- ---------------
2,037 1 June 2022 0.002%
------------------------- ------------------- -------------- ---------------
(2) The number shown in this column is the maximum number of ordinary shares which are capable
of being acquired in connection with that option or award. The actual number of shares which
may be acquired may be more or less, depending on performance against any applicable performance
conditions.
(D) Interests of connected advisers of LSL Property Services Plc
(i) Apex Financial Services (Trust Company) Limited, in its capacity as trustee of the LSL
Property Services plc Employee Benefit Trust
Class of relevant Ordinary shares of 0.2p each in LSL
security Property Services Plc
Interests Short positions
---------------------- ------------------
Number % Number %
------------ -------- -------- --------
(1) Relevant securities
owned and/or controlled 1,376,339 1.321% 0 0.000%
------------ -------- -------- --------
(2) Cash-settled
derivatives 0 0.000% 0 0.000%
------------ -------- -------- --------
(3) Stock-settled
derivatives 0 0.000% 0 0.000%
------------ -------- -------- --------
(ii) Link Market Services Trustees Limited, in its capacity as trustee of The LSL Property
Services plc Employee SIP Trust
Class of relevant Ordinary shares of 0.2p each in LSL
security Property Services Plc
Interests Short positions
--------------------- -------------------
Number % Number %
---------- --------- --------- --------
(1) Relevant securities
owned and/or controlled 433,432 0.416% 0 0.000%
---------- --------- --------- --------
(2) Cash-settled
derivatives 0 0.000% 0 0.000%
---------- --------- --------- --------
(3) Stock-settled
derivatives 0 0.000% 0 0.000%
---------- --------- --------- --------
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).
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:
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 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: 5 March 2020
Contact name: Sapna B. Fitzgerald
--------------------
Telephone number: 01904 698850
--------------------
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.
The Code can be viewed on the Panel's website at
www.thetakeoverpanel.org.uk .
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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