REG - Delivery Hero SE Takeaway.com N.V. - Form 8.3 - Takeaway.com N.V.
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:
Delivery Hero SE
(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 relates:
Use a separate form for each offeror/offeree
Takeaway.com N.V.
(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:
For an opening position disclosure, state the latest practicable date prior to the disclosure
16 October 2019
(f) In addition to the company in 1(c) above, is the 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"
No
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:
Ordinary Shares of EUR 0.04
Interests
Short positions
Number
%
Number
%
(1) Relevant securities owned and/or controlled:
8,462,715
13.83%
-
-
(2) Cash-settled derivatives:
-
-
-
-
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:
-
-
5,162,715*
8.44%*
TOTAL:
8,462,715
13.83%
5,162,715*
8.44%*
* On 9 September 2019, Delivery Hero entered into a sale agreement over 3,000,000 shares as described in the attached Supplemental Form 8. As of the date listed in 1(e) above, 1,037,285 shares have been sold under this agreement. In addition, Delivery Hero has a short position over a further 3,200,000 shares which are subject to the equity collar described in the attached Supplemental Form 8. Delivery Hero has elected for cash settlement as the default settlement method for the equity collar, but is entitled to elect for stock settlement in certain circumstances for a portion or all of the equity collar.
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 relevant security in relation to which subscription right exists:
N/A
Details, including nature of the rights concerned and relevant percentages:
N/A
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
Ordinary Shares of EUR 0.04
Sale
76,001
73.693900 EUR
Ordinary Shares of EUR 0.04
Sale
85,000
73.364700 EUR
(b) Cash-settled derivative transactions
Class of relevant security
Product description
e.g. CFD
Nature of dealing
e.g. opening/closing a long/short position, increasing/reducing a long/short position
Number of reference securities
Price per unit
(c) Stock-settled derivative transactions (including options)
(i) Writing, selling, purchasing or varying
Class of relevant security
Product description e.g. call option
Writing, purchasing, selling, varying etc.
Number of securities to which option relates
Exercise price per unit
Type
e.g. American, European etc.
Expiry date
Option money paid/ received per unit
(ii) Exercise
Class of relevant security
Product description
e.g. call option
Exercising/ exercised against
Number of securities
Exercise price per unit
(d) Other dealings (including subscribing for new securities)
Class of relevant security
Nature of dealing
e.g. subscription, conversion
Details
Price per unit (if applicable)
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?
YES
Date of disclosure:
17 October 2019
Contact name:
Julia Schmidtmann
Telephone number*:
+49 30 54 44 59 231
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.
SUPPLEMENTAL FORM 8 (OPEN POSITIONS)
DETAILS OF OPEN STOCK-SETTLED DERIVATIVE (INCLUDING OPTION) POSITIONS, AGREEMENTS TO PURCHASE OR SELL ETC.
Note 5(i) on Rule 8 of the Takeover Code (the "Code")
1. KEY INFORMATION
Full name of person making disclosure:
Delivery Hero SE
Name of offeror/offeree in relation to whose relevant securities the disclosure relates:
Takeaway.com N.V.
2. STOCK-SETTLED DERIVATIVES (INCLUDING OPTIONS)
Class of relevant security
Product description e.g. call option
Written or purchased
Number of securities to which option or derivative relates
Exercise price per unit
Type
e.g. American, European etc.
Expiry date
EUR 0.04
Equity Collar*
Purchased
3,200,000
€65.075 (floor, put option) or €71.24 (cap, call option)
European
250 buckets of 12,800 option pairs each, expiring between 8 October 2021 and 26 September 2022
*Pursuant to a multi-year equity collar agreement described in (3) below. Delivery Hero has elected for cash settlement as the default settlement method for the equity collar, but is entitled to elect for stock settlement in certain circumstances for a portion or all of the equity collar.
3. AGREEMENTS TO PURCHASE OR SELL ETC.
Full details should be given so that the nature of the interest or position can be fully understood:
Delivery Hero entered into a multi-year equity collar agreement with Morgan Stanley on 4 April 2019 in relation to the 3,200,000 Option Shares, pursuant to which (1) Delivery Hero may cause Morgan Stanley to acquire (the "Put Options") or (2) Morgan Stanley may cause Delivery Hero to sell (the "Call Options") the Option Shares in certain fixed instalments, in each case on expiry dates between 8 October 2021 and 26 September 2022. The exercise price for the Put Options is €65.075 per Option Share and the exercise price for the Call Options is €71.24 per Option Share. Delivery Hero has elected for cash settlement as the default settlement method for the equity collar, but is entitled to elect for stock settlement in certain circumstances for a portion or all of the equity collar.
In addition, on 9 September 2019, Delivery Hero SE entered into a sale agreement with Kepler Cheuvreux (the "Sale Agreement") under which Kepler Cheuvreux, as principal, agreed to proceed with on market and off market sales of a total of 3,000,000 ordinary shares of Takeaway.com NV (the "Sale Shares") at a minimum price of EUR 73 per share within the limits set out below, together with related arrangements that give Kepler Cheuvreux the right to call the Sale Shares for the purpose of settling sales under the Sale Agreement. As of the date listed in 1(e) of the Form 8.3 above, 1,037,285 Sale Shares have been sold pursuant to the Sale Agreement and 1,962,715 Sale Shares remain subject to the Sale Agreement. The Sale Agreement and the related arrangements are irrevocable and cannot be terminated by Delivery Hero SE.
The limit for daily on-market sales under the Sale Agreement is 20% of the volume of Takeaway.com NV shares traded on the relevant trading day. Kepler Cheuvreux will also, under the terms of the Sale Agreement, use its best efforts to sell Sale Shares on an off-market basis through block trades, provided that the maximum volume of any such block trades is limited to 100,000 Sale Shares in total per trading day.
It is not necessary to provide details on a Supplemental Form (Open Positions) with regard to cash-settled derivatives.
The currency of all prices and other monetary amounts should be stated.
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.ENDRETLLFIFIALDLIA
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