PUBLIC OPENING POSITION
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
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|Â (a) Identity of the party to the offer |Intec Telecom Systems PLC |
|making the disclosure: | |
+-------------------------------------------+----------------------------------+
|Â (b) Owner or controller of interests and |N/A |
|short positions disclosed, if different | |
|from 1(a): | |
|Â Â Â The naming of nominee or vehicle | |
|companies is insufficient | |
+-------------------------------------------+----------------------------------+
|Â (c) Name of offeror/offeree in relation to|Offeree: Intec Telecom Systems PLC|
|whose relevant securities this form | |
|relates: | |
|Â Â Â Use a separate form for each party to | |
|the offer | |
+-------------------------------------------+----------------------------------+
|Â (d) Is the party to the offer making the |Offeree |
|disclosure the offeror or the offeree? | |
+-------------------------------------------+----------------------------------+
|Â (e) Date position held: |5 August 2010 |
+-------------------------------------------+----------------------------------+
|Â (f)Â Has the party previously disclosed, |No |
|or is it today disclosing, under the Code | |
|in respect of any other party to this | |
|offer? | |
+-------------------------------------------+----------------------------------+
2.    POSITIONS OF THE PARTY TO THE OFFER MAKING THE DISCLOSURE
(a)Â Â Â Â 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 one pence|
|Â | each |
+-------------------------------------------------+---------+------------------+
|Â |Interests| Short positions |
|Â +------+--+------+-----------+
| |Number|% |Number| % |
+-------------------------------------------------+------+--+------+-----------+
|Â (1) Relevant securities owned and/or controlled:| Nil |0 | Nil | 0 |
+-------------------------------------------------+------+--+------+-----------+
|Â (2) Derivatives (other than options): | Nil |0 | Nil | 0 |
+-------------------------------------------------+------+--+------+-----------+
|Â (3) Options and agreements to purchase/sell: | Nil |0 | Nil | 0 |
+-------------------------------------------------+------+--+------+-----------+
|Â | Nil |0 | Nil | 0 |
|Â Â Â TOTAL: | | | | |
+-------------------------------------------------+------+--+------+-----------+
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)Â Â Â Â Rights to subscribe for new securities
+--------------------------------------------------------------------------+---+
|Class of relevant security in relation to which subscription right exists:|Nil|
+--------------------------------------------------------------------------+---+
|Details, including nature of the rights concerned and relevant |Nil|
|percentages: | |
+--------------------------------------------------------------------------+---+
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)Â Â Â Â Irrevocable commitments and letters of intent
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|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): |
+------------------------------------------------------------------------------+
|Â |
|None |
|Â |
+------------------------------------------------------------------------------+
3.    POSITIONS OF PERSONS ACTING IN CONCERT WITH THE PARTY TO THE OFFER MAKING
THE DISCLOSURE
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|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: |
+------------------------------------------------------------------------------+
|Â |
|The Directors of Intec Telecom Systems plc (the "Company") hold the following |
|interests in the shares of the Company: |
|Â |
|1. Directors' interests in ordinary shares |
|Â |
|The interests of the Directors and their immediate families, both beneficial |
|and non-beneficial, in the ordinary shares of the Company are as follows: |
|Â |
|Name Ordinary shares of 1p each Approximate percentage of share|
| capital|
| |
|John Hughes         125,000 0.04%|
| |
|Andrew Taylor           91,238 0.03%|
| |
|Robin Taylor         406,767 0.13%|
| |
|Peter Manning           50,000 0.02%|
| |
|Gordon Stuart           50,000 0.02%|
| Â |
|2. Directors' interests in share options |
|Â |
|Options to subscribe for or acquire ordinary shares of the Company are held by|
|the following Directors. All options have vested and are exercisable at any |
|time up to expiry date. |
|Â |
| Â Number of share options Exercise price Expiry date |
| |
| Robin Taylor      54,396         45.5 1-Mar-17 |
| |
| Andrew Taylor      57,303         45.5 1-Jan-18 |
| Â |
|3. Directors' interests in the Long-Term Incentive Plan |
|Â |
|Details of the Directors' interests in ordinary shares pursuant to the Intec |
|Telecom Systems plc Long-Term Incentive Plan are as follows: |
|Â |
|Â Conditional shares Market price at date of award Vesting date |
| |
|Robin Taylor    499,824 44.5 8-Jan-11 |
| |
|Robin Taylor    488,001 25.75 12-Jan-12 |
| |
|Robin Taylor    252,367 110.5 6-Jan-13 |
| |
|Andrew Taylor     674,157 44.5 8-Jan-11 |
| |
|Andrew Taylor     654,852 25.75 12-Jan-12 |
| |
|Andrew Taylor    341,077 110.5 6-Jan-13 |
| |
+------------------------------------------------------------------------------+
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)Â Â Â Â Indemnity and other dealing arrangements
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|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" |
+------------------------------------------------------------------------------+
|Â |
|None |
|Â |
+------------------------------------------------------------------------------+
(b)Â Â Â Â 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: |
|Â (i)Â the voting rights of any relevant securities under any option; or |
|Â (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" |
+------------------------------------------------------------------------------+
|Â |
|None |
|Â |
+------------------------------------------------------------------------------+
(c)Â Â Â Â Attachments
Are any Supplemental Forms attached?
+--------------------------------------+----+
| Supplemental Form 8 (Open Positions) | NO |
+--------------------------------------+----+
| Supplemental Form 8 (SBL) | NO |
+--------------------------------------+----+
+---------------------+---------------+
| Date of disclosure: | 6 August 2010 |
+---------------------+---------------+
| Contact name: | Robin Taylor |
+---------------------+---------------+
| Telephone number: | 01483 745 800 |
+---------------------+---------------+
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.
[HUG#1436538]
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Source: Intec Telecom Systems Plc via Thomson Reuters ONE