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DAY Daisy Grp

185.75
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Daisy Grp LSE:DAY London Ordinary Share GB00B61G9L20 ORD 2P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 185.75 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Toscafund Asset Management LLP Form 8 (OPD) (Toscafund, Penta, Matt Riley) (0566Q)

26/08/2014 5:25pm

UK Regulatory


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TIDMDAY

RNS Number : 0566Q

Toscafund Asset Management LLP

26 August 2014

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) Identity of the party to the offer making the disclosure:              Toscafund Asset Management LLP 
                                                                             Penta Capital LLP 
                                                                             Matthew Riley 
-------------------------------------------------------------------------  ------------------------------------------- 
 (b) Owner or controller of interests and short positions disclosed, if          Tosca Mid Cap - 24,367,282 Ord shares 
 different from 1(a):                                                        Tosca Opportunity - 51,704,074 Ord shares 
 The naming of nominee or vehicle companies is insufficient                      Matthew Riley - 61,431,110 Ord shares 
-------------------------------------------------------------------------  ------------------------------------------- 
 (c) Name of offeror/offeree in relation to whose relevant securities       Daisy Group plc 
 this form relates: 
 Use a separate form for each party to the offer 
-------------------------------------------------------------------------  ------------------------------------------- 
 (d) Is the party to the offer making the disclosure the offeror or the     OFFEROR 
 offeree? 
-------------------------------------------------------------------------  ------------------------------------------- 
 (e) Date position held:                                                    26 August 2014 
-------------------------------------------------------------------------  ------------------------------------------- 
 (f) Has the party previously disclosed, or is it today disclosing, under   NO 
 the Code in respect 
 of any other party to this offer? 
-------------------------------------------------------------------------  ------------------------------------------- 
 
   2.         POSITIONS OF THE PARTY TO THE OFFER MAKING THE DISCLOSURE 

(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 
--------------------------------------------------  ----------------------------------------- 
                                                          Interests          Short positions 
--------------------------------------------------  ---------------------  ------------------ 
                                                       Number        %         Number      % 
--------------------------------------------------  ------------  -------  -------------  --- 
 (1) Relevant securities owned and/or controlled:    137,502,466   51.505        0         0 
--------------------------------------------------  ------------  -------  -------------  --- 
 (2) Derivatives (other than options):                    0          0           0         0 
--------------------------------------------------  ------------  -------  -------------  --- 
 (3) Options and agreements to purchase/sell:             0          0           0         0 
--------------------------------------------------  ------------  -------  -------------  --- 
 
   TOTAL:                                            137,502,466   51.505        0         0 
--------------------------------------------------  ------------  -------  -------------  --- 
 

All interests and all short positions should be disclosed.

Details of any open derivative or option positions, 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                                       Ordinary shares of 2 pence each 
 subscription right exists: 
----------------------------------------------------------  ---------------------------------------------------------- 
 Details, including nature of the rights concerned and       Executive share options held by Matthew Riley - The right 
 relevant percentages:                                                               to subscribe for 2,500,000 shares 
                                                               at an exercise price 80p each in the period from 1 July 
                                                                                                 2009 to 30 June 2016. 
 
                                                                 Executive share award to Matthew Riley - The right to 
                                                                                 subscribe for 892,857 ordinary shares 
                                                              at nil cost, which will vest as follows. If adjusted EPS 
                                                                                      of Daisy Group in the year to 31 
                                                                March 2016 is 15.4p, 50% will vest. If adjusted EPS of 
                                                                                   Daisy Group in the year to 31 March 
                                                                   2016 reaches 17.0p, 100% will vest. There will be a 
                                                                              straight line apportionment of the award 
                                                                 between 50% and 100% if the adjusted EPS lies between 
                                                                                                      15.4p and 17.0p. 
 
                                                                 Executive share award to Matthew Riley - The right to 
                                                                                 subscribe for 540,541 ordinary shares 
                                                              at nil cost, which will vest as follows. If adjusted EPS 
                                                                                      of Daisy Group in the year to 31 
                                                                March 2017 is 16.3p, 50% will vest. If adjusted EPS of 
                                                                                   Daisy Group in the year to 31 March 
                                                                   2017 reaches 18.0p, 100% will vest. There will be a 
                                                                              straight line apportionment of the award 
                                                                 between 50% and 100% if the adjusted EPS lies between 
                                                                                                       16.3p and 18.0p 
                                                                                                     Total - 3,933,398 
----------------------------------------------------------  ---------------------------------------------------------- 
 

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.

   (c)        Irrevocable commitments and letters of intent 
 
 Details of any irrevocable commitments or letters of intent procured by the party to the offer 
  making the disclosure or any person acting in concert with it (see Note 3 on Rule 2.11 of 
  the Code): 
----------------------------------------------------------------------------------------------- 
 
   NONE 
----------------------------------------------------------------------------------------------- 
 
   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 of any person acting in 
  concert with the party to the offer making the disclosure: 
------------------------------------------------------------------------------------------ 
 
   NONE 
------------------------------------------------------------------------------------------ 
 

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 3 for each additional class of relevant security.

Details of any open derivative or option positions, 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: 
  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:    26 August 2014 
---------------------  --------------- 
 Contact name:          Robert Lord 
---------------------  --------------- 
 Telephone number:      0207 845 6100 
---------------------  --------------- 
 

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service and must also be emailed to the Takeover Panel at monitoring@disclosure.org.uk. The Panel's Market Surveillance Unit is available for consultation in relation to the Code's dealing disclosure requirements on +44 (0)20 7638 0129.

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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