Electric Word PLC Form 8 (OPD) Electric Word plc (2354K)

TIDMELE

RNS Number : 2354K

Electric Word PLC

05 July 2017

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:                                                                    Electric Word plc 
---------------------------------------------------------------------------------------------  ------------------ 
 (b) Owner or controller of interests and short positions disclosed, if different from 1(a):    N/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:        Electric Word plc 
  Use a separate form for each offeror/offeree 
---------------------------------------------------------------------------------------------  ------------------ 
 (d) Is the discloser the offeror or the offeree?                                               OFFEREE 
---------------------------------------------------------------------------------------------  ------------------ 
 (e) Date position held:                                                                        4 July 2017 
  The latest practicable date prior to the disclosure 
---------------------------------------------------------------------------------------------  ------------------ 
 (f) In addition to the company in 1(c) above, is the discloser making disclosures in respect   N/A 
  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 1 pence each 
----------------------------------------------------------------------------  ---------------------------------------- 
                                                                                    Interests         Short positions 
----------------------------------------------------------------------------  --------------------  ------------------ 
                                                                                  Number        %       Number      % 
----------------------------------------------------------------------------  --------------  ----  -------------  --- 
 (1) Relevant securities owned and/or controlled:                                   N/A                  N/A 
----------------------------------------------------------------------------  --------------  ----  -------------  --- 
 (2) Cash-settled derivatives:                                                      N/A                  N/A 
----------------------------------------------------------------------------  --------------  ----  -------------  --- 
 (3) Stock-settled derivatives (including options) and agreements to                N/A                  N/A 
 purchase/sell: 
----------------------------------------------------------------------------  --------------  ----  -------------  --- 
                                                                                    N/A                  N/A 
   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:    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 of directors of Electric Word plc in ordinary shares of Electric Word plc: 
         Director         Number of ordinary   Percentage of 
                           shares               total issued 
                                                ordinary share 
                                                capital 
        ---------------  -------------------  ---------------- 
         Andrew Brode              7,200,000               1.8 
        ---------------  -------------------  ---------------- 
         Julian Turner            12,650,275               3.1 
        ---------------  -------------------  ---------------- 
 
 
        (b) Interests of directors of Electric Word plc in ordinary shares of Electric Word plc under 
        share options: 
         Director                 Maximum   Exercise    Vesting        Expiry 
                                number of      price       date          date 
                                 ordinary    (pence) 
                           shares awarded 
        ---------------  ----------------  ---------  ---------  ------------ 
         Andrew Brode                                             11 December 
          (1)                   2,748,291        1.5     Vested          2023 
        ---------------  ----------------  ---------  ---------  ------------ 
                                                                  11 December 
                               7,403,429*        1.5   Unvested          2023 
        ---------------  ----------------  ---------  ---------  ------------ 
         Julian Turner                                             4 November 
          (2)                     692,267        1.0     Vested          2017 
        ---------------  ----------------  ---------  ---------  ------------ 
                                                                  11 December 
                               11,627,385        1.5     Vested          2023 
        ---------------  ----------------  ---------  ---------  ------------ 
                                                                  11 December 
                              31,322,201*        1.5   Unvested          2023 
        ---------------  ----------------  ---------  ---------  ------------ 
         William 
          Fawbert                                                 11 December 
          (3)                   4,650,954        1.5     Vested          2023 
        ---------------  ----------------  ---------  ---------  ------------ 
                                                                  11 December 
                              12,528,880*        1.5   Unvested          2023 
        ---------------  ----------------  ---------  ---------  ------------ 
 
        Note: * options vest upon the average mid-market closing price of the Shares being equal to 
        or above certain share price levels as set out below for a continuous period of at least 4 
        months, or on the occurrence of an Offer, Winding-up, Demerger or Assets Sale of Electric 
        Word plc being equal to or above certain share price levels as set out below 
 
        (1) at 3.5 pence - 2,748,291; at 5.0 pence - 4,863,556; at 6 pence - 6,185,597; at 7 pence 
        - 7,507,638; at 8 pence - 8,829,679; at 9 pence - 10,151,720 (all amounts aggregated) 
        (2) at 3.5 pence - 11,627,385; at 5.0 pence - 20,576,585; at 6 pence - 26,169,835; at 7 pence 
        - 31,763,086; at 8 pence - 37,356,336; at 9 pence - 42,949,586 (all amounts aggregated) 
        (3) at 3.5 pence - 4,650,954; at 5.0 pence - 8,230,634; at 6 pence - 10,467,934; at 7 pence 
        - 12,705,234; at 8 pence - 14,942,534; at 9 pence - 17,179,834 (all amounts aggregated) 
----------------------------------------------------------------------------------------------------- 
 

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:    4 July 2017 
---------------------  -------------- 
 Contact name:          Will Fawbert 
---------------------  -------------- 
 Telephone number:      020 7265 4100 
---------------------  -------------- 
 

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 [phone].

The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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July 05, 2017 11:04 ET (15:04 GMT)