Source - RNS
RNS Number : 4617M
Intu Properties PLC
13 October 2016
 

 

NOTIFICATION OF TRANSACTIONS OF DIRECTORS/PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND CONNECTED PERSONS

 

1.

Name of the issuer

 

INTU PROPERTIES PLC

2.

State whether the notification relates to (i) a

transaction notified in accordance with DTR

3.1.2 R, (ii) a disclosure made in

accordance with section 793 of the

Companies Act 2006, or (iii) in accordance

with paragraph 26 of the Model Code

 

transaction notified in accordance with DTR 3.1.2

 

3.

Name of person discharging managerial

responsibilities/director

 

 

John Whittaker

4.

State whether notification relates to a

person connected with a person discharging

managerial responsibilities/director named

in 3 and identify the connected person

 

PEEL CHAPEL NO.4 LIMITED

 

5.

Indicate whether the notification is in respect of a holding of the person

referred to in 3 or 4 above or in respect

of a non-beneficial interest

 

BENEFICIAL Holding of person mentioned in box 4 above

 

6.

Description of shares (including class),
debentures or derivatives or financial

instruments relating to shares

 

·   Ordinary Shares of 50p

·   PUT OPTIONS and call options (AS PART OF FINANCING ARRANGEMENTS)

 

7.

Name of registered shareholders(s) and,

if more than one, the number of shares

held by each of them

 

CHEMBANK NOMINEES LIMITED

 

8.

State the nature of the transaction

 

·   ACQUISITION OF 22,258,276 ORDINARY SHARES BY PEEL CHAPEL NO.4 LIMITED (THE "MARKET PURCHASE SHARES") AND A DERIVATIVE TRANSACTION TO PROVIDE FINANCING FOR SUCH ACQUISITION

 

·   AMENDMENT TO THE DERIVATIVE FINANCING ARRANGEMENTS ENTERED INTO ON 11 JUNE 2015  UNDER WHICH PUT AND CALL OPTIONS (THE "2015 OPTIONS") WERE GRANTED OVER 30,741,724 ORDINARY SHARES (THE "2015 OPTION SHARES") IN ORDER TO: (1) EXTEND THE DERIVATIVE FINANCING ARRANGEMENTS BY GRANTING PUT AND CALL OPTIONS (THE "NEW OPTIONS") OVER THE MARKET PURCHASE SHARES IN ADDITION TO THOSE IN RESPECT OF THE 2015 OPTION SHARES; AND (2) AMEND THE RANGE OF EXERCISE PRICES IN RESPECT OF THE 2015 OPTIONS SO THAT THEY ARE CONSISTENT WITH THE EXERCISE PRICES RELATING TO THE NEW OPTIONS GRANTED OVER THE MARKET PURCHASE SHARES.

 

9.

Number of shares, debentures or

financial instruments relating to shares

acquired

 

·   22,258,276 MARKET PURCHASE SHARES ACQUIRED

·   NEW PUT AND CALL OPTIONS GRANTED OVER 22,258,276 MARKET PURCHASE SHARES

·   AMENDMENT OF EXERCISE PRICES IN RESPECT OF THE 2015 OPTION SHARES RELATING TO 30,741,724 ORDINARY SHARES

10.

Percentage of issued class acquired

(treasury shares of that class should not be

taken into account when calculating

percentage)

 

1.655% SHARES ACQUIRED THROUGH MARKET PURCHASES

11.

Number of shares, debentures or

financial instruments relating to shares

disposed

 

N/A

 

12.

Percentage of issued class disposed

(treasury shares of that class should not be

taken into account when calculating

percentage)

 

N/A

 

13.

Price per share or value of transaction

 

·   THE ACQUISITION OF THE 22,258,276 MARKET PURCHASE SHARES TOOK PLACE AT A PRICE OF £2.8902 PER SHARE

·   THE PUT AND CALL OPTIONS GRANTED OVER THE MARKET PURCHASE SHARES AND THE 2015 OPTION SHARES UNDER THE AMENDED DERIVATIVE FINANCING ARRANGEMENTS HAVE A RANGE OF EXERCISE PRICES FROM £2.55 to £3.825 PER SHARE

 

14.

Date and place of transaction

 

·   ACQUISITION OF MARKET PURCHASE SHARES TOOK PLACE ON 12 OCTOBER 2016 (LONDON)

·   PUT AND CALL OPTIONS GRANTED ON 12 OCTOBER 2016 (LONDON)

15.

Total holding following notification and

total percentage holding following

notification (any treasury shares should

not be taken into account when

calculating percentage)

 

358,977,415 SHARES (26.694% IN TOTAL)

 

16.

Date issuer informed of transaction

 

12 OCTOBER 2016

17.

Any additional information

 

THE MARKET PURCHASE SHARES WERE FINANCED BY AN ARRANGEMENT, UNDER WHICH PEEL CHAPEL NO.4 LIMITED HAS (UNDER THE AMENDED ARRANGEMENTS IN RESPECT OF THE 2015 OPTION SHARES):

 

(i)        PLEDGED THE MARKET PURCHASE SHARES TO THE COUNTERPARTY; AND

 

(ii)       GRANTED THE COUNTER- PARTY THE RIGHT TO USE THE MARKET PURCHASE SHARES.

 

ON MATURITY OF THE FINANCING ARRANGEMENT, PC4L IS ENTITLED, AT ITS ELECTION, TO SETTLE IN CASH OR RETURN THE MARKET PURCHASE SHARES AND THE 2015 OPTION SHARES TO THE COUNTERPARTY

 

18.

Name of contact and telephone number

for queries

 

CHRIS EVES

01624 827 503

 

 

 

Susan Marsden

Group Company Secretary

020 7887 7004


This information is provided by RNS
The company news service from the London Stock Exchange
 
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