REG - EnQuest PLC - Form 8 (OPD) EnQuest PLC

EnquestAnnouncement

20/03/2025 09:00

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RNS Number : 4785B  EnQuest PLC  20 March 2025

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:                                                     EnQuest Plc
 (b) Owner or controller of interests and short positions disclosed, if
 different from 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  EnQuest plc
 relates:

      Use a separate form for each offeror/offeree
 (d) Is the discloser the offeror or the offeree?                                OFFEROR
 (e) Date position held:                                                         19 March 2025

      The latest practicable date prior to the disclosure
 (f)  In addition to the company in 1(c) above, is the discloser making          No
 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 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:                                          0.05 pence Ordinary

                                                                      Interests      Short positions

                                                                      Number  %      Number    %
 (1) Relevant securities owned and/or controlled:                     Nil     -      Nil       -
 (2) Cash-settled derivatives:                                        Nil     -      Nil       -

 (3) Stock-settled derivatives (including options) and agreements to  Nil     -      Nil       -
 purchase/sell:
                                                                      Nil     -      Nil       -

      TOTAL:

 

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:   Nil
 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:
 Name          Number of Ordinary Shares held  Percentage of total issued share capital  Beneficial Owner/ Controller
 Amjad Bseisu  234,732,857                     12.61                                     Amid Bseisu
 Gareth Penny  137,047                         0.00                                      Gareth Penny
 Farina Khan   211,235                         0.01                                      Farina Khan
 Total:        235,081,139                     12.63

a) Holdings of directors of EnQuest plc

 Notes:

 1.     201,881,058 shares are held by Double A Limited, a company
 beneficially owned by the extended family of Amjad Bseisu. 32,674,840 shares
 are also held by The Amjad and Suha Bseisu Foundation and 176,959 shares are
 held directly by Amjad Bseisu.

 2.     62,500 shares are held by Gareth Penny, and 74,547 shares are held
 by his wife, Kate Penny

 b) Options and awards held by directors of EnQuest plc

Name            Number of EnQuest shares awarded  Date of grant      Date of vesting    Date of expiry    Exercise price
 Executive Director Deferred Bonus Share Award
 Amjad Bseisu    72,475                            10 September 2020  9 September 2022   9 September 2030  £0.1209
 Name            Number of EnQuest shares awarded  Date of grant      Date of vesting    Date of expiry    Exercise price
 PSP Award
 Amjad Bseisu    5,303,351(1)                      10 September 2020  10 September 2023  9 September 2030  £0.1664
         1,488,409(2)                      27 April 2021      27 April 2024      26 April 2031     £0.1617
         3,343,689                         25 April 2022      25 April 2025      24 April 2032     £0.358239
         8,102,723                         10 July 2023       25 April 2026      25 April 2033     £0.152267
         6,054,872                         25 April 2024      25 April 2027      25 April 2034     £0.1566
 Jonathan Copus  4,718,390                         25 April 2024      25 April 2027      25 April 2034     £0.1566

 

 Notes:

 1.     The original award was for 7,090,042 shares however 1,786,691
 shares were cancelled on 6 March 2023.

 2.     The original award was for 7,442,048 shares however 5,953,639
 shares were cancelled on 1 March 2024.

a) Holdings of directors of EnQuest plc

 

 

Notes:

1.     201,881,058 shares are held by Double A Limited, a company
beneficially owned by the extended family of Amjad Bseisu. 32,674,840 shares
are also held by The Amjad and Suha Bseisu Foundation and 176,959 shares are
held directly by Amjad Bseisu.

 

2.     62,500 shares are held by Gareth Penny, and 74,547 shares are held
by his wife, Kate Penny

 

b) Options and awards held by directors of EnQuest plc

 Name            Number of EnQuest shares awarded  Date of grant      Date of vesting    Date of expiry    Exercise price
 Executive Director Deferred Bonus Share Award
 Amjad Bseisu    72,475                            10 September 2020  9 September 2022   9 September 2030  £0.1209
 Name            Number of EnQuest shares awarded  Date of grant      Date of vesting    Date of expiry    Exercise price
 PSP Award
 Amjad Bseisu    5,303,351(1)                      10 September 2020  10 September 2023  9 September 2030  £0.1664
                 1,488,409(2)                      27 April 2021      27 April 2024      26 April 2031     £0.1617
                 3,343,689                         25 April 2022      25 April 2025      24 April 2032     £0.358239
                 8,102,723                         10 July 2023       25 April 2026      25 April 2033     £0.152267
                 6,054,872                         25 April 2024      25 April 2027      25 April 2034     £0.1566
 Jonathan Copus  4,718,390                         25 April 2024      25 April 2027      25 April 2034     £0.1566

 

Notes:

1.     The original award was for 7,090,042 shares however 1,786,691
shares were cancelled on 6 March 2023.

2.     The original award was for 7,442,048 shares however 5,953,639
shares were cancelled on 1 March 2024.

 

 

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:  20 March 2025
 Contact name:        Kate Christ
 Telephone number:    020 7925 4900

 

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
(http://www.thetakeoverpanel.org.uk) .

 

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