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:

Clipper Logistics 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

Clipper Logistics plc

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

OFFEREE

(e) Date position held:

The latest practicable date prior to the disclosure

4 December 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'

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:

Interests

Short positions

Number

%

Number

%

(1) Relevant securities owned and/or controlled:

Nil

0

Nil

0

(2) Cash-settled derivatives:

Nil

0

Nil

0

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

Nil

0

Nil

0

TOTAL:

Nil

0

Nil

0

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:

None

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:

The Directors of Clipper Logistics plc (the 'Company') have the following interests in the Company:

Name

No. of ordinary shares of 0.05p each held

Percentage of issued share capital

Steven Parkin

25,140,820

24.73%

Tony Mannix

946,786

0.93%

David Hodkin

1,113,196

1.09%

Stephen Robertson

9,410

0.01%

Stuart Watson

4,000

0.00%

Share Options

The Directors of the Company have been granted share option awards from time to time under the Company's 2014 Performance Share Plan ('PSP') and 2014 Sharesave Plan ('Sharesave'), which were put in place at the time of the Company's IPO in 2014:

Name

Plan

Date of grant

Exercise / Vesting Date

Expiry date

Option price

Number of shares subject to the award

Steven Parkin

PSP

14/01/2015

14/01/2018

14/01/2025

176.33

229,682

PSP

18/01/2018

18/01/2021

18/01/2028

474.67

86,602

PSP

16/01/2019

16/01/2022*

16/01/2029

241.67

173,499

Sharesave

13/02/2018

01/04/2021

30/09/2021

379.74

4,740

Total:

494,523

Tony Mannix

PSP

14/01/2015

14/01/2018

14/01/2025

176.33

127,601

PSP

18/01/2018

18/01/2021

18/01/2028

474.67

58,145

PSP

16/01/2019

16/01/2022*

16/01/2029

241.67

116,489

Sharesave

13/02/2018

01/04/2021

30/09/2021

379.74

2,370

Sharesave

08/02/2019

01/04/2022

30/09/2022

193.34

4,655

Total:

309,260

David Hodkin

PSP

14/01/2015

14/01/2018

14/01/2025

176.33

102,081

PSP

18/01/2018

18/01/2021

18/01/2028

474.67

45,926

PSP

16/01/2019

16/01/2022*

16/01/2029

241.67

92,009

Sharesave

13/02/2018

01/04/2021

30/09/2021

379.74

4,740

Total:

244,756

*Subject to further 2 year holding period following vesting date; exercisable from 16/01/2024.

Concert Parties

In addition to the Director shareholdings detailed above, there are certain other shareholders in the Company who have previously been deemed to be acting in concert with Steve Parkin, consequently their shareholdings are also included in this OPD announcement under Rule 8.2 of the Code as follows:

Name

No. of ordinary shares of 0.05p each held

Percentage of issued share capital

Sean Fahey

6,502,729

6.40%

Gurnaik Chima

5,000,000

4.92%

George Turner

1,705,203

1.68%

Name

Plan

Date of grant

Exercise / Vesting Date

Expiry date

Option price

Number of shares subject to the award

Guy Jackson

PSP

18/01/2018

18/01/2021

18/01/2028

474.67

15,800

PSP

16/01/2019

16/01/2022

16/01/2029

241.67

31,654

Sharesave

08/02/2019

01/04/2022

30/09/2022

193.34

9,310

Total:

56,764

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 December 2019

Contact name:

Marianne Hodgkiss

Telephone number:

+44 113 205 1550

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 atwww.thetakeoverpanel.org.uk.

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Clipper Logistics plc published this content on 04 December 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 December 2019 10:18:07 UTC