Public dealing disclosure
July 27 2010 - 10:40AM
UK Regulatory
TIDMGRI TIDMSVN
RNS Number : 0149Q
Grainger PLC
27 July 2010
FORM 8 (DD)
PUBLIC DEALING DISCLOSURE BY A PARTY TO AN OFFER OR PERSON ACTING IN CONCERT
(INCLUDING DEALINGS FOR THE ACCOUNT OF DISCRETIONARY INVESTMENT CLIENTS)
Rules 8.1, 8.2 and 8.4 of the Takeover Code (the "Code")
1. KEY INFORMATION
+------------------+------------+
| (a) | Grainger |
| Identity | Equity |
| of the | Release |
| party to | Limited |
| the | |
| offer or | |
| person | |
| acting | |
| in | |
| concert | |
| making | |
| the | |
| disclosure: | |
+------------------+------------+
| (b) | |
| Owner | |
| or | |
| controller | |
| of | |
| interests | |
| and short | |
| positions | |
| disclosed, | |
| if | |
| different | |
| from 1(a): | |
+------------------+------------+
| (c) | Sovereign |
| Name | Reversions |
| of | plc |
| offeror/offeree | |
| in relation to | |
| whose relevant | |
| securities this | |
| form relates: | |
| Use a | |
| separate form | |
| for each | |
| offeror/offeree | |
+------------------+------------+
| (d) | Offeror |
| Status | |
| of | |
| person | |
| making | |
| the | |
| disclosure: | |
| e.g. | |
| offeror, | |
| offeree, | |
| person | |
| acting in | |
| concert | |
| with the | |
| offeror/offeree | |
| (specify name | |
| of | |
| offeror/offeree) | |
+------------------+------------+
| (e) | 26 |
| Date | July |
| dealing | 2010 |
| undertaken: | |
+------------------+------------+
| (f) | NO |
| Has | |
| the | |
| party | |
| previously | |
| disclosed, | |
| or is it | |
| today | |
| disclosing, | |
| under the | |
| Code in | |
| respect of | |
| any other | |
| party to | |
| this offer? | |
+------------------+------------+
2. POSITIONS OF THE PERSON MAKING THE DISCLOSURE
(a) Interests and short positions in the relevant securities of the
offeror or offeree to which the disclosure relates following the dealing
+----------------+--------+--------+--------+--------+
| Class | |
| of | |
| relevant | |
| security: | |
| | |
+----------------+-----------------------------------+
| | Interests |Short positions |
| | | |
+ +-----------------+-----------------+
| |Number | % |Number | % |
+----------------+--------+--------+--------+--------+
| (1) | 2 | 0.00 | 0 | 0.00 |
| Relevant | | | | |
| securities | | | | |
| owned | | | | |
| and/or | | | | |
| controlled: | | | | |
+----------------+--------+--------+--------+--------+
| (2) | 0 | 0.00 | 0 | 0.00 |
| Derivatives | | | | |
| (other than | | | | |
| options): | | | | |
+----------------+--------+--------+--------+--------+
| (3) | 0 | 0.00 | 0 | 0.00 |
| Options | | | | |
| and | | | | |
| agreements | | | | |
| to | | | | |
| purchase/sell: | | | | |
+----------------+--------+--------+--------+--------+
| | 2 | 0.00 | 0 | 0.00 |
| | | | | |
| TOTAL: | | | | |
+----------------+--------+--------+--------+--------+
(b) Rights to subscribe for new securities (including directors' and
other executive options)
+--------------+----------+
| Class | Ordinary |
| of | shares |
| relevant | |
| security | |
| in | |
| relation | |
| to which | |
| subscription | |
| right | |
| exists: | |
+--------------+----------+
| Details, | n/a |
| including | |
| nature of | |
| the | |
| rights | |
| concerned | |
| and | |
| relevant | |
| percentages: | |
+--------------+----------+
3. DEALINGS BY THE PERSON MAKING THE DISCLOSURE
(a) Purchases and sales
+----------+---------------+------------+--------+
| Class |Purchase/sale | Number | Price |
| of | | of | per |
|relevant | |securities | unit |
|security | | | |
+----------+---------------+------------+--------+
| Ordinary | Purchase | 1 | 200 |
| shares | | | GBp |
+----------+---------------+------------+--------+
(b) Derivatives transactions (other than options)
+----------+-------------+---------------------+------------+--------+
| Class | Product | Nature | Number | Price |
| of |description | of | of | per |
|relevant | e.g. CFD | dealing | reference | unit |
|security | | e.g. |securities | |
| | | opening/closing | | |
| | | a long/short | | |
| | | position, | | |
| | |increasing/reducing | | |
| | | a long/short | | |
| | | position | | |
+----------+-------------+---------------------+------------+--------+
| n/a | n/a | n/a | n/a | n/a |
| | | | | |
+----------+-------------+---------------------+------------+--------+
(c) Options transactions in respect of existing securities
(i) Writing, selling, purchasing or varying
+----------+-------------+-------------+------------+----------+-----------+--------+----------+
| Class | Product | Writing, | Number |Exercise | Type |Expiry | Option |
| of |description |purchasing, | of | price | e.g. | date | money |
|relevant | e.g. call | selling, |securities |per unit |American, | | paid/ |
|security | option | varying | to which | | European | |received |
| | | etc. | option | | etc. | |per unit |
| | | | relates | | | | |
+----------+-------------+-------------+------------+----------+-----------+--------+----------+
| n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a |
+----------+-------------+-------------+------------+----------+-----------+--------+----------+
(ii) Exercising
+----------+-------------+------------+----------+
| Class | Product | Number |Exercise |
| of |description | of | price |
|relevant | e.g. call |securities |per unit |
|security | option | | |
+----------+-------------+------------+----------+
| n/a | n/a | n/a | |
| | | | n/a |
+----------+-------------+------------+----------+
(d) Other dealings (including subscribing for new securities)
+----------+---------------+---------+-------------+
| Class | Nature |Details | Price |
| of | of | | per |
|relevant | dealing | | unit |
|security | e.g. | | (if |
| |subscription, | |applicable) |
| | conversion | | |
+----------+---------------+---------+-------------+
| n/a | n/a | n/a | n/a |
+----------+---------------+---------+-------------+
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 |
| or person |
| acting in |
| concert making |
| the disclosure |
| and any other |
| person: |
+----------------+
| |
| 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 or |
| person acting |
| in concert |
| 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: |
+----------------+
| None |
| |
| |
+----------------+
(c) Attachments
Are any Supplemental Forms attached?
+--------------+--------+
| Supplemental | NO |
| Form 8 (Open | |
| Positions) | |
+--------------+--------+
| Supplemental | NO |
| Form 8 (SBL) | |
+--------------+--------+
+-------------+---------------+
| Date | 27 |
| of | July |
| disclosure: | 2010 |
+-------------+---------------+
| Contact | Edouard |
| name: | Asselin |
| | J.P. |
| | Morgan |
| | Cazenove |
+-------------+---------------+
| Telephone | 0207 155 4730 |
| number: | |
+-------------+---------------+
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 trade has been carried out in relation to the recommended scheme of
arrangement (the "Scheme") pursuant to which Grainger Equity Release Limited, a
wholly owned subsidiary of Grainger plc, is proposing to acquire the entire
issued share capital of Sovereign Reversions plc, details of which were set out
in a circular to Sovereign Reversions' shareholders dated 17 June 2010 (the
"Scheme Document"). As disclosed in the Scheme Document, for the purposes of
implementing the Scheme, Grainger Equity Release Limited has acquired one
ordinary share in Sovereign Reversions plc prior to the date of the Court
Hearing to approve the Scheme on 4 August 2010.
The Takeover Panel have confirmed on an ex parte basis that this dealing has no
Code consequences.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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