Source - LSE Regulatory
RNS Number : 9966D
Takeover Panel
21 February 2024
 

THE TAKEOVER PANEL - DISCLOSURE TABLE

 

21 February 2024 - FINAL

 

The following are today's changes to the Disclosure Table:

 

ADDITIONS

 

None

 

DELETIONS

 

None

 

OTHER AMENDMENTS

 

OFFEREE: Redrow plc

Offer period commenced: 07:01 07-Feb-2024

10.5p ordinary

ISIN: GB00BG11K365

NSI: 330,770,245

OFFEROR: Barratt Developments plc

Offeror identified: 07:01 07-Feb-2024

Rule 2.6 deadline: N/A

10p ordinary

ISIN: GB0000811801

NSI: 974,592,261

 

DISCLOSURE TABLE

 

OFFEREE: abrdn European Logistics Income plc

Offer period commenced: 07:00 27-Nov-2023

1p ordinary

ISIN: GB00BD9PXH49

NSI: 412,174,356

OFFEROR: No named offeror

 

OFFEREE: abrdn Property Income Trust Limited

Offer period commenced: 07:00 19-Jan-2024

1p ordinary

ISIN: GB0033875286

NSI: 381,218,977

OFFEROR: Custodian Property Income REIT plc

Offeror identified: 07:00 19-Jan-2024

Rule 2.6 deadline: N/A

1p ordinary

ISIN: GB00BJFLFT45

NSI: 440,850,398

OFFEROR: Urban Logistics REIT plc

Offeror identified: 16:31 20-Feb-2024

Rule 2.6 deadline: to be determined

1p ordinary

ISIN: GB00BYV8MN78

NSI: 471,975,411

 

OFFEREE: Advanced Oncotherapy plc

Offer period commenced: 07:00 18-Apr-2023

25p ordinary

ISIN: GB00BD6SX109

NSI: 542,573,869

Senior secured fixed rate convertible loan notes 11 January 2024

 

NSI: 6,379,725

OFFEROR: No named offeror

 

OFFEREE: Belvoir Group plc

Offer period commenced: 07:00 10-Jan-2024

1p ordinary

ISIN: GB00B4QY1P51

NSI: 37,294,592

OFFEROR: Property Franchise Group plc, The

Offeror identified: 07:00 10-Jan-2024

Rule 2.6 deadline: N/A

1p ordinary

ISIN: GB00BH0WFH67

NSI: 32,255,007

 

OFFEREE: Benchmark Holdings plc

Offer period commenced: 07:00 22-Jan-2024

0.1p ordinary

ISIN: GB00BGHPT808

NSI: 739,489,843

OFFEROR: No named offeror

 

OFFEREE: City Pub Group plc, The

Offer period commenced: 07:01 16-Nov-2023

1p ordinary

ISIN: GB00BYWRS683

NSI: 104,843,151

OFFEROR: Young & Co.'s Brewery, plc

Offeror identified: 07:01 16-Nov-2023

Rule 2.6 deadline: N/A

12.5p A ordinary

ISIN: GB00B2NDK765

NSI: 34,413,847

12.5p ordinary

ISIN: GB00B2NDK989

NSI: 24,070,755

 

OFFEREE: Currys plc

Offer period commenced: 14:29 17-Feb-2024

0.1p ordinary

ISIN: GB00B4Y7R145

NSI: 1,133,494,651

OFFEROR: Elliott Advisors (UK) Limited

Offeror identified: 14:29 17-Feb-2024

Rule 2.6 deadline: 17:00 16-Mar-2024

Disclosure of dealings and positions in this offeror is not required

OFFEROR: JD.com, Inc.

Offeror identified: 07:51 19-Feb-2024

Rule 2.6 deadline: 17:00 18-Mar-2024

Disclosure of dealings and positions in this offeror is not required

 

OFFEREE: Cykel AI plc

Offer period commenced: 08:00 19-Jan-2024

0.1p ordinary

ISIN: GB00BPTJZN05

NSI: 205,183,350

Warrants 1p 25/10/2026

 

NSI: 48,000,000

Warrants 3p 25/10/2028

 

NSI: 11,385,170

OFFEROR: Mustang Energy plc

Offeror identified: 08:00 19-Jan-2024

Rule 2.6 deadline: 17:00 15-Mar-2024

0.1p ordinary

ISIN: GB00BJ9MHH56

NSI: 12,161,966

Warrants 30p 15/11/2024

 

NSI: 636,986

Unsecured Convertible Loan Notes 31/5/24

 

GBP: 200,000

 

OFFEREE: Equals Group plc

Offer period commenced: 13:39 01-Nov-2023

1p ordinary

ISIN: GB00BLS0XX25

NSI: 187,627,898

OFFEROR: Madison Dearborn Partners, LLC

Offeror identified: 13:39 01-Nov-2023

Rule 2.6 deadline: 17:00 20-Mar-2024

Disclosure of dealings and positions in this offeror is not required

 

OFFEREE: FireAngel Safety Technology Group plc

Offer period commenced: 07:02 06-Jun-2023

2p ordinary

ISIN: GB0030508757

NSI: 302,321,822

Warrant 3p June 2026

 

NSI: 60,355,529

OFFEROR: Intelligent Safety Electronics Pte. Ltd (a company incorporated in Singapore and wholly-owned by Siterwell Electronics Co., Ltd)

Offeror identified: 07:00 27-Oct-2023

Rule 2.6 deadline: N/A

Disclosure of dealings and positions in this offeror is not required

 

OFFEREE: Forward Partners Group plc

Offer period commenced: 07:00 27-Nov-2023

1p ordinary

ISIN: GB00BKPGBB09

NSI: 134,613,117

OFFEROR: Molten Ventures plc

Offeror identified: 07:00 27-Nov-2023

Rule 2.6 deadline: N/A

1p ordinary

ISIN: GB00BY7QYJ50

NSI: 174,261,401

 

OFFEREE: GCP Asset Backed Income Fund Limited

Offer period commenced: 07:00 13-Dec-2023

NPV ordinary

ISIN: JE00BYXX8B08

NSI: 425,626,059

OFFEROR: No named offeror

 

OFFEREE: Impellam Group plc

Offer period commenced: 07:00 12-Apr-2022

1p ordinary

ISIN: GB00B8HWGJ55

NSI: 44,502,264

OFFEROR: Heather Global plc (a company owned by HeadFirst Global B.V.)

Offeror identified: 18:03 04-Jul-2023

Rule 2.6 deadline: N/A

Disclosure of dealings and positions in this offeror is not required

 

OFFEREE: Kin and Carta plc

Offer period commenced: 07:03 18-Oct-2023

10p ordinary

ISIN: GB0007689002

NSI: 177,931,360

OFFEROR: Kelvin UK Bidco Limited (a newly formed company owned indirectly by funds advised by Apax Partners LLP)

Offeror identified: 07:03 18-Oct-2023

Rule 2.6 deadline: N/A

Disclosure of dealings and positions in this offeror is not required

OFFEROR: Ken Bidco Limited (a newly formed company controlled by funds advised by BC partners)

Offeror identified: 16:04 19-Dec-2023

Rule 2.6 deadline: N/A

Disclosure of dealings and positions in this offeror is not required

 

OFFEREE: LXi REIT plc

Offer period commenced: 14:43 18-Dec-2023

1p ordinary

ISIN: GB00BYQ46T41

NSI: 1,714,473,236

OFFEROR: LondonMetric Property plc

Offeror identified: 14:43 18-Dec-2023

Rule 2.6 deadline: N/A

10p ordinary

ISIN: GB00B4WFW713

NSI: 1,093,559,368

 

OFFEREE: musicMagpie plc

Offer period commenced: 07:00 20-Nov-2023

1p ordinary

ISIN: GB00BKY4XG48

NSI: 107,808,287

OFFEROR: No named offeror

 

OFFEREE: Network International Holdings plc

Offer period commenced: 14:05 13-Apr-2023

10p ordinary

ISIN: GB00BH3VJ782

NSI: 532,748,593

OFFEROR: BCP VI Neptune Bidco Holdings Limited (an entity indirectly owned by Brookfield Business Partners together with private equity funds managed and/or advised by affiliates of Brookfield Asset Management Ltd)

Offeror identified: 07:00 21-Apr-2023

Rule 2.6 deadline: N/A

Disclosure of dealings and positions in this offeror is not required

 

OFFEREE: Premier Veterinary Group plc (See Note 9 below)

Offer period commenced: 10:19 15-Sep-2023

0.1p ordinary

ISIN: GB00BSZLMS59

NSI: 16,497,970

0.1p A ordinary

 

NSI: 645,269

OFFEROR: No named offeror

 

OFFEREE: Redrow plc

Offer period commenced: 07:01 07-Feb-2024

10.5p ordinary

ISIN: GB00BG11K365

NSI: 330,770,245

OFFEROR: Barratt Developments plc

Offeror identified: 07:01 07-Feb-2024

Rule 2.6 deadline: N/A

10p ordinary

ISIN: GB0000811801

NSI: 974,592,261

 

OFFEREE: Shanta Gold Limited

Offer period commenced: 07:01 20-Dec-2023

0.01p ordinary

ISIN: GB00B0CGR828

NSI: 1,051,467,684

OFFEROR: Saturn Resources Ltd (a newly formed company wholly-owned by ETC Holdings (Mauritius) Limited)

Offeror identified: 07:01 20-Dec-2023

Rule 2.6 deadline: N/A

Disclosure of dealings and positions in this offeror is not required

 

OFFEREE: Smart Metering Systems plc

Offer period commenced: 07:00 07-Dec-2023

1p ordinary

ISIN: GB00B4X1RC86

NSI: 133,606,918

OFFEROR: Sienna Bidco Limited (a company wholly-owned by funds advised by Kohlberg Kravis Roberts & Co. L.P. and its affiliates)

Offeror identified: 07:00 07-Dec-2023

Rule 2.6 deadline: N/A

Disclosure of dealings and positions in this offeror is not required

 

OFFEREE: SmartSpace Software plc

Offer period commenced: 07:00 12-Dec-2023

10p ordinary

ISIN: GB00BYWN0F98

NSI: 28,941,234

OFFEROR: Sign in Solutions Inc. (a company majority owned, and controlled, by funds managed or advised by PSG Equity L.L.C.)

Offeror identified: 07:00 22-Jan-2024

Rule 2.6 deadline: 17:00 18-Mar-2024

Disclosure of dealings and positions in this offeror is not required

 

OFFEREE: Smith (DS) plc

Offer period commenced: 10:16 08-Feb-2024

10p ordinary

ISIN: GB0008220112

NSI: 1,377,451,807

OFFEROR: Mondi plc

Offeror identified: 10:16 08-Feb-2024

Rule 2.6 deadline: 17:00 07-Mar-2024

EUR 0.22 ordinary

ISIN: GB00BMWC6P49

NSI: 441,412,530

 

OFFEREE: STM Group plc

Offer period commenced: 07:00 11-Jul-2023

0.1p ordinary

ISIN: IM00B1S9KY98

NSI: 59,408,088

OFFEROR: Jambo SRC Limited

Offeror identified: 07:00 11-Jul-2023

Rule 2.6 deadline: N/A

Disclosure of dealings and positions in this offeror is not required

 

OFFEREE: Superdry plc

Offer period commenced: 10:55 02-Feb-2024

5p ordinary

ISIN: GB00B60BD277

NSI: 99,080,937

OFFEROR: Julian Dunkerton

Offeror identified: 10:55 02-Feb-2024

Rule 2.6 deadline: 17:00 01-Mar-2024

Disclosure of dealings and positions in this offeror is not required

 

OFFEREE: UK Commercial Property REIT Limited

Offer period commenced: 18:57 09-Feb-2024

25p ordinary

ISIN: GB00B19Z2J52

NSI: 1,299,412,465

OFFEROR: Tritax Big Box REIT plc

Offeror identified: 18:57 09-Feb-2024

Rule 2.6 deadline: 17:00 08-Mar-2024

1p ordinary

ISIN: GB00BG49KP99

NSI: 1,903,738,325

 

OFFEREE: Wincanton plc

Offer period commenced: 07:00 19-Jan-2024

10p ordinary

ISIN: GB0030329360

NSI: 124,543,670

OFFEROR: CEVA Logistics UK Rose Limited (a company indirectly controlled by CMA CGM and its affiliates)

Offeror identified: 07:00 19-Jan-2024

Rule 2.6 deadline: N/A

Disclosure of dealings and positions in this offeror is not required

 

Notes:

 

1.

Rule 8 of the Takeover Code (the "Code") sets out the circumstances in which Dealing Disclosures and/or Opening Position Disclosures are required to be made by the parties to an offer, persons acting in concert with them, persons with an interest in relevant securities of 1% or more and exempt principal traders ("EPTs") connected with the parties to an offer.

2.

Where an offeror is marked "Disclosure of dealings and positions in this offeror is not required", dealings and positions in relevant securities of that offeror are not required to be disclosed under Rule 8. This is either because it has been announced that the offer or possible offer is, or is likely to be, solely in cash or because disclosure is not required for some other reason.

3.

Dealings and positions required to be disclosed under Rule 8 of the Code include dealings and positions in derivatives referenced to, and options in respect of, relevant securities of an offeree company and, where appropriate, an offeror (see Note 2 above).

4.

The information set out in the Disclosure Table relating to the relevant securities in issue of an offeree company or of an offeror (and any amendments thereto) has been extracted from the relevant announcement made by such company under Rule 2.9 of the Code. Similarly, details of any deadline set under Rule 2.6 by which a potential offeror must announce either a firm intention to make a bid or that it does not intend to make an offer (or, in the case of Rule 2.6(a), by which the Panel must consent to an extension of the deadline) has been extracted from the relevant announcement made by the offeree company.

5.

Additions and deletions of offeree companies and offerors are reflected in the Disclosure Table throughout the day, following the relevant announcement. Other amendments may also be made throughout the day. In any event, details of the classes of relevant securities issued by an offeree or offeror company, the number of such securities in issue ("NSI") and the International Securities Identification Number ("ISIN") of such securities announced under Rule 2.9 of the Code before 5.00 pm each day will be included in the final version of the Disclosure Table by 5.30 pm that day. The final version of the Disclosure Table issued each day will be marked "Final" and persons required to make Dealing Disclosures and Opening Position Disclosures are advised to use that final version. Any changes to a potential offeror's Rule 2.6 deadline will also be reflected in the "Final" version of the Disclosure Table, although any such changes will not be shown in the "Amendments" section at the top of the Disclosure Table.

6.

Dealing Disclosures by the parties to an offer, persons acting in concert with them and connected EPTs must be made by no later than 12 noon on the business day (as defined in the Code) following the date of the relevant dealing and Dealing Disclosures by persons with an interest in relevant securities of 1% or more must be made by 3.30 pm on the business day following the date of the relevant dealing.

7.

Opening Position Disclosures by the parties to an offer and by connected EPTs must be made by no later than 12 noon on the 10th business day after the commencement of the offer period or the announcement that first identifies an offeror (as the case may be). Where required, Opening Position Disclosures by persons with interests in relevant securities of 1% or more must be made by no later than 3.30 pm on the 10th business day after the commencement of the offer period or the announcement that first identifies an offeror (as the case may be). Details of the time and date at which an offer period commenced and at which an offeror was first identified are set out in the Disclosure Table. In order to calculate the deadline for Opening Position Disclosures, it is therefore necessary to count forward 10 business days from the relevant date.

8.

Opening Position Disclosures and Dealing Disclosures required under Rule 8 of the Code must be made to a Regulatory Information Service ("RIS").

9.

This Note is applicable if it says "See Note 9 below" by the name of the company in the Disclosure Table above.  The Executive has granted the company a dispensation from the requirements under the Code that announcements must be published via a RIS. The company is instead required to publish all announcements on its website. The Executive has also granted a dispensation from Note 3 on Rule 8 of the Code that disclosures made under Rule 8 of the Code must be made to a RIS. Therefore, Opening Position Disclosures and Dealing Disclosures required under Rule 8 of the Code may be made to the company at the address stated in the announcement that commenced the offer period.

 

10.

The following are approved Regulatory Information Services:

 

.

Business Wire Regulatory Disclosure provided by Business Wire

+44 (0)20 7626 1982

.

GlobeNewswire provided by GlobeNewswire UK Limited

+44 (0)20 3753 2071

.

PR Newswire Disclose provided by Cision Group Ltd

+44 (0)20 7454 5210

.

RNS provided by the London Stock Exchange

+44 (0)20 7797 4400

.

EQS COCKPIT provided by EQS Group AG

+44 (0)20 3141 3940

 

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