REG - LSL Property Svcs. - Opening Position Disclosure

LSL Property ServicesAnnouncement

05/03/2020 11:20

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 1(a):
     The naming of nominee or vehicle companies is insufficient.  For a trust, the trustee(s), settlor and beneficiaries must be named.


N/A




(c) Name of offeror/offeree in relation to whose relevant securities this form relates:
     Use a separate form for each offeror/offeree


LSL Property Services Plc




(d) Is the discloser the offeror or the offeree?


OFFEROR 




(e) Date position held:
     The latest practicable date prior to the disclosure


4 March 2020




(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"


 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 shares of 0.2p each held


Percentage of issued share 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 shares of 0.2p each under option / award 


Vesting date


Percentage of issued share capital




Ian Crabb


LTIP


49,228


23 September 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 shares of 0.2p each under option / award (2)


Vesting date


Percentage of issued share capital




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 security


Ordinary shares of 0.2p each in LSL 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 security


Ordinary shares of 0.2p each in LSL 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.
 


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