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Nuna Minerals A/S (0QE1)

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Wednesday 25 November, 2015

Nuna Minerals A/S

Form 8 (OPD) Worthington Group

RNS Number : 9517G
Nuna Minerals A/S
25 November 2015
 

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:

NunaMinerals A/S

(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.


(c) Name of offeror/offeree in relation to whose relevant securities this form relates:

     Use a separate form for each offeror/offeree

Worthington Group Plc

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

 OFFEROR

(e) Date position held:

     The latest practicable date prior to the disclosure

24 November 2015

(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"

 YES - NunaMinerals A/S

 

 

 

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:

None


None


(2) Cash-settled derivatives:

 

None


None


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

None


None


 

     TOTAL:

None


None


 

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:

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 (including directors' and other employee options) of any person acting in concert with the party to the offer making the disclosure:

 

Mr Douglas Ware, director of Worthington Group Plc and controller of European & Asian Ltd, 3rd Floor, Jonsim Place, 228 Queen's Road East, Wanchai, Hong Kong, owner of relevant securities for the benefit of Mr Ware's family:

 

Class of relevant security:

 

Ordinary Shares Worthington Group Plc

 

 

Interests

Short positions

Number

%

Number

%

(1) Relevant securities owned and/or controlled:

785,000

3.14%

None


(2) Cash-settled derivatives:

 

None


None


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

None


None


 

     TOTAL:

785,000

3.14%

None


 

Class of relevant security:

 

Secured Convertible Loan Notes at 10p 2019 Worthington Group Plc

 

 

Interests

Short positions

Number

%

Number

%

(1) Relevant securities owned and/or controlled:

3,024,000

65.54%

None


(2) Cash-settled derivatives:

 

None


None


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

None


None


 

     TOTAL:

3,024,000

65.54%

None


 

Class of relevant security:

 

Placing Warrants  exercisable at 10p 2017

Worthington Group Plc

 

 

Interests

Short positions

Number

%

Number

%

(1) Relevant securities owned and/or controlled:

3,024,000

25.20%

None


(2) Cash-settled derivatives:

 

None


None


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

None


None


 

     TOTAL:

3,024,000

25.20%

None


 

 

Class of relevant security:

 

Warrants exercisable at 10p 2020 Worthington Group Plc

 

 

Interests

Short positions

Number

%

Number

%

(1) Relevant securities owned and/or controlled:

8,000,000

80.00%

None


(2) Cash-settled derivatives:

 

None


None


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

None


None


 

     TOTAL:

8,000,000

80.00%

None


 

 

Mr Richard Spurway, director of Worthington Group Plc, owner of relevant securities:

 

Class of relevant security:

 

Secured Convertible Loan Notes at 10p 2019 Worthington Group Plc

 

 

Interests

Short positions

Number

%

Number

%

(1) Relevant securities owned and/or controlled:

240,000

5.20%

None


(2) Cash-settled derivatives:

 

None


None


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

None


None


 

     TOTAL:

240,000

5.20%

None


 

Class of relevant security:

 

Placing Warrants exercisable at 10p 2017

 Worthington Group Plc

 

 

Interests

Short positions

Number

%

Number

%

(1) Relevant securities owned and/or controlled:

240,000

2.00%

None


(2) Cash-settled derivatives:

 

None


None


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

None


None


 

     TOTAL:

240,000

2.00%

None


 

Class of relevant security:

 

 Warrants exercisable at 10p 2020

 Worthington Group Plc

 

 

Interests

Short positions

Number

%

Number

%

(1) Relevant securities owned and/or controlled:

2,000,000

20.00%

None


(2) Cash-settled derivatives:

 

None


None


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

None


None


 

     TOTAL:

2,000,000

20.00%

None


 

 

 

Mrs Annette & Mr Peter Birchinall, owners of relevant security:

 

Class of relevant security:

 

Ordinary Shares Worthington Group Plc

 

 

Interests

Short positions

Number

%

Number

%

(1) Relevant securities owned and/or controlled:

300,000

1.20%

None


(2) Cash-settled derivatives:

 

None


None


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

None


None


 

     TOTAL:

300,000

1.20%

None


 

 

Ms Michelle McLoughlin, owner of relevant security:

 

Class of relevant security:

 

Ordinary Shares Worthington Group Plc

 

 

Interests

Short positions

Number

%

Number

%

(1) Relevant securities owned and/or controlled:

200,000

0.80%

None


(2) Cash-settled derivatives:

 

None


None


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

None


None


 

     TOTAL:

200,000

0.80%

None


 

 

Mrs Remy & Mr Guy Poland, owners of relevant security:

 

Class of relevant security:

 

Ordinary Shares Worthington Group Plc

 

 

Interests

Short positions

Number

%

Number

%

(1) Relevant securities owned and/or controlled:

100,000

0.40%

None


(2) Cash-settled derivatives:

 

None


None


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

None


None


 

     TOTAL:

100,000

0.40%

None


 

 

 

Mr Wulstan Earley, director Renatus Capital Ltd, owner of relevant securities, the company is owned and controlled by Wulstan Earley, brother to Aidan Earley:

 

Class of relevant security:

 

Ordinary Shares Worthington Group Plc

 

 

Interests

Short positions

Number

%

Number

%

(1) Relevant securities owned and/or controlled:

2,275,855

9.10%

None


(2) Cash-settled derivatives:

 

None


None


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

None


1,907,797

7.63%

 

     TOTAL:

2,275,855

9.10%

1,907,797

7.63%

 

 

 

 

Class of relevant security:

 

Secured Convertible Loan Notes at 10p 2019 Worthington Group Plc

 

 

Interests

Short positions

Number

%

Number

%

(1) Relevant securities owned and/or controlled:

1,349,931

29.26%

None


(2) Cash-settled derivatives:

 

None


None


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

None


None


 

     TOTAL:

1,349,931

29.26%

None


 

 

 

Class of relevant security:

 

Placing Warrants exercisable at 10p 2017

 Worthington Group Plc

 

 

Interests

Short positions

Number

%

Number

%

(1) Relevant securities owned and/or controlled:

6,998,500

 

58.32%

None


(2) Cash-settled derivatives:

 

None


None


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

None


None


 

     TOTAL:

6,998,500

58.32%

None


 

 

Mr Allan Biggar & Mrs Bridget Biggar, owners of relevant security:

 

Class of relevant security:

 

Ordinary Shares Worthington Group Plc

 

 

Interests

Short positions

Number

%

Number

%

(1) Relevant securities owned and/or controlled:

405,244

 

1.62%

None


(2) Cash-settled derivatives:

 

None


None


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

None


None


 

     TOTAL:

405,244

1.62%

None


 

 

 

Olympus Trading Group Ltd, Trident Chambers, Capital City Building, PO Box 1388, Victoria, Mahe, Seychelles, owner of relevant securities. Controlled by Ms Kirsten Forbes, sister in law of Aidan Earley:

 

Class of relevant security:

 

Ordinary Shares Worthington Group Plc

 

 

Interests

Short positions

Number

%

Number

%

(1) Relevant securities owned and/or controlled:

None


None


(2) Cash-settled derivatives:

 

None


None


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

1,907,797

7.63%

1,907,797

7.63%

 

     TOTAL:

1,907,797

7.63%

1,907,797

7.63%

 

 

 

Class of relevant security:

 

Unsecured Convertible Loan notes at 10p 2020 Worthington Group Plc

 

 

Interests

Short positions

Number

%

Number

%

(1) Relevant securities owned and/or controlled:

5,000,000

100.00%

None


(2) Cash-settled derivatives:

 

None


None


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

None


None


 

     TOTAL:

5,000,000

100.00%

None


 

 

Class of relevant security:

 

Unsecured Convertible Loan notes at 50p 2017 Worthington Group Plc

 

 

Interests

Short positions

Number

%

Number

%

(1) Relevant securities owned and/or controlled:

900,000

100.00%

None


(2) Cash-settled derivatives:

 

None


None


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

None


None


 

     TOTAL:

900,000

100.00%

None


 

 

 

Class of relevant security:

 

Unsecured Convertible Loan notes at 10p 2021 Worthington Group Plc

 

 

Interests

Short positions

Number

%

Number

%

(1) Relevant securities owned and/or controlled:

44,405

100.00%

None


(2) Cash-settled derivatives:

 

None


None


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

None


None


 

     TOTAL:

44,405

100.00%

None


 

 

 

Class of relevant security:

 

Placing Warrants exercisable at 10p 2017

 Worthington Group Plc

 

 

Interests

Short positions

Number

%

Number

%

(1) Relevant securities owned and/or controlled:

1,737,500

14.48%

None


(2) Cash-settled derivatives:

 

None


None


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

None


None


 

     TOTAL:

1,737,500

14.48%

None


 

 

 

Class of relevant security:

 

 Warrants exercisable at 10p 2018

 Worthington Group Plc

 

 

Interests

Short positions

Number

%

Number

%

(1) Relevant securities owned and/or controlled:

13,090,378

100.00%

None


(2) Cash-settled derivatives:

 

None


None


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

None


None


 

     TOTAL:

13,090,378

100.00%

None


 

Mr. Darren Chapman, owner of relevant options:

 

Class of relevant security:

 

Ordinary Shares Worthington Group Plc

 

 

Interests

Short positions

Number

%

Number

%

(1) Relevant securities owned and/or controlled:

None


None


(2) Cash-settled derivatives:

 

None


None


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

1,907,797

7.63%

None


 

     TOTAL:

1,907,797

7.63%

None


 

 

Mr. Patrick Newman, owner of relevant security:

 

Class of relevant security:

 

Ordinary Shares Worthington Group Plc

 

 

Interests

Short positions

Number

%

Number

%

(1) Relevant securities owned and/or controlled:

1,250,000

4.99%

None


(2) Cash-settled derivatives:

 



None


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



None


 

     TOTAL:

1,250,000

4.99%

None


 

 

 

 

Mr. Steven Roderic Beharrell, owner of relevant security:

 

Class of relevant security:

 

Ordinary Shares Worthington Group Plc

 

 

Interests

Short positions

Number

%

Number

%

(1) Relevant securities owned and/or controlled:

450,000

1.70%

None


(2) Cash-settled derivatives:

 



None


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



None


 

     TOTAL:

450,000

1.70%

None


 

Small Cap Consulting, owner of relevant security:

 

Class of relevant security:

 

Ordinary Shares Worthington Group Plc

 

 

Interests

Short positions

Number

%

Number

%

(1) Relevant securities owned and/or controlled:

500,000

1.99%

None


(2) Cash-settled derivatives:

 



None


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



None


 

     TOTAL:

500,000

1.99%

None


 

Mr. Neil Andrew Mehta, owner of relevant security:

 

Class of relevant security:

 

Ordinary Shares Worthington Group Plc

 

 

Interests

Short positions

Number

%

Number

%

(1) Relevant securities owned and/or controlled:

545,443

2.18%

None


(2) Cash-settled derivatives:

 



None


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



None


 

     TOTAL:

545,443

2.18%

None


 

Mr. Nigel Mehta, owner of relevant security:

 

Class of relevant security:

 

Ordinary Shares Worthington Group Plc

 

 

Interests

Short positions

Number

%

Number

%

(1) Relevant securities owned and/or controlled:

70,595

0.28%

None


(2) Cash-settled derivatives:

 



None


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



None


 

     TOTAL:

70,595

0.28%

None


 

Mr. Luke Mehta, owner of relevant security:

 

Class of relevant security:

 

Ordinary Shares Worthington Group Plc

 

 

Interests

Short positions

Number

%

Number

%

(1) Relevant securities owned and/or controlled:

318,887

1.27%

None


(2) Cash-settled derivatives:

 



None


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



None


 

     TOTAL:

318,887

1.27%

None


 

 

Ms. Carol Iaciofano, owner of relevant security:

 

Class of relevant security:

 

Ordinary Shares Worthington Group Plc

 

 

Interests

Short positions

Number

%

Number

%

(1) Relevant securities owned and/or controlled:

100,000

0.39%

None


(2) Cash-settled derivatives:

 



None


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



None


 

     TOTAL:

100,000

0.39%

None


 

 

Mr. Haluk Tumer, owner of relevant security:

 

Class of relevant security:

 

Ordinary Shares Worthington Group Plc

 

 

Interests

Short positions

Number

%

Number

%

(1) Relevant securities owned and/or controlled:

150,000

0.59%

None


(2) Cash-settled derivatives:

 



None


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



None


 

     TOTAL:

150,000

0.59%

None


 

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)

YES

Supplemental Form 8 (SBL)

NO

 

 

Date of disclosure:

25 November 2015

Contact name:

Pia Dalziel of ebl miller rosenfalck, advisor to NunaMinerals A/S

Telephone number:

+44 (0) 20 7553 4070

 

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 [email protected].  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 at www.thetakeoverpanel.org.uk.

 

 

 

 

 

SUPPLEMENTAL FORM 8 (OPEN POSITIONS)

 

DETAILS OF OPEN STOCK-SETTLED DERIVATIVE (INCLUDING OPTION) POSITIONS, AGREEMENTS TO PURCHASE OR SELL ETC.

Note 5(i) on Rule 8 of the Takeover Code (the "Code")

 

 

1.         KEY INFORMATION

 

Full name of person making disclosure:

Darren Chapman

Name of offeror/offeree in relation to whose relevant securities the disclosure relates:

Worthington Group Plc

 

2.         STOCK-SETTLED DERIVATIVES (INCLUDING OPTIONS)

 

Class of relevant security

Product description e.g. call option

Written or purchased

Number of securities to which option or derivative relates

Exercise price per unit

Type

e.g. American, European etc.

Expiry date

Ordinary Shares

Call Option

Written

263,158

9.5p

 

None

Ordinary Shares

Call Option

Written

1,000,000

10p

 

None

Ordinary Shares

Call Option

Written

470,588

8.5p

 

None

Ordinary Shares

Call Option

Written

174,051

5p

 

None

 

3.         AGREEMENTS TO PURCHASE OR SELL ETC.

 

Full details should be given so that the nature of the interest or position can be fully understood:

 

The Olympus Trading Group Limited has agreed to take over responsibility for fulfilling contracts for difference agreements previously entered into by Liberty Capital Markets Limited (dissolved) and Oriental Capital Investment Limited (dissolved) with Darren Chapman in 2011 to 2013.

 

Under the terms of the initial agreements made between Darren Chapman and Liberty Capital Markets Limited and Oriental Capital Investment Limited Darren Chapman had the option to call upon 2,909,926 ordinary WRN shares for a price between 5p and 10p. As at September 2014 Darren Chapman had called upon 1,002,139 of these shares and by February 2015 he had sold on this holding.

 

As a result of the revised agreement Darren Chapman has the option to call on 1,907,797 ordinary WRN shares for a price between 5p and 10p. Theses share would be delivered from the WRN holding currently held by Renatus Capital Limited.

 

Whilst the arrangement disclosed has not been legally formalised the parties involved consider the arrangement disclosed to be the accurate state of affairs as at the date of this announcement and that this arrangement came into being upon the dissolution of Liberty Capital Markets Limited and Oriental Capital Investment Limited in October 2014.

 

 

 

 

 

It is not necessary to provide details on a Supplemental Form (Open Positions) with regard to cash-settled derivatives.

 

The currency of all prices and other monetary amounts should be stated.

 

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 at www.thetakeoverpanel.org.uk.

 

 

SUPPLEMENTAL FORM 8 (OPEN POSITIONS)

 

DETAILS OF OPEN STOCK-SETTLED DERIVATIVE (INCLUDING OPTION) POSITIONS, AGREEMENTS TO PURCHASE OR SELL ETC.

Note 5(i) on Rule 8 of the Takeover Code (the "Code")

 

 

1.         KEY INFORMATION

 

Full name of person making disclosure:

Olympus Trading Group Limited

Name of offeror/offeree in relation to whose relevant securities the disclosure relates:

Worthington Group Plc

 

2.         STOCK-SETTLED DERIVATIVES (INCLUDING OPTIONS)

 

Class of relevant security

Product description e.g. call option

Written or purchased

Number of securities to which option or derivative relates

Exercise price per unit

Type

e.g. American, European etc.

Expiry date

Ordinary Shares

Call Option

Written

263,158

9.5p

 

None

Ordinary Shares

Call Option

Written

1,000,000

10p

 

None

Ordinary Shares

Call Option

Written

470,588

8.5p

 

None

Ordinary Shares

Call Option

Written

174,051

5p

 

None

Ordinary Shares

Call Option

Purchased

263,158

9.5p

 

None

Ordinary Shares

Call Option

Purchased

1,000,000

10p

 

None

Ordinary Shares

Call Option

Purchased

470,588

8.5p

 

None

Ordinary Shares

Call Option

Purchased

174,051

5p

 

None

 

3.         AGREEMENTS TO PURCHASE OR SELL ETC.

 

Full details should be given so that the nature of the interest or position can be fully understood:

 

The Olympus Trading Group Limited has agreed to take over responsibility for fulfilling contracts for difference agreements previously entered into by Liberty Capital Markets Limited (dissolved) and Oriental Capital Investment Limited (dissolved) with Darren Chapman in 2011 to 2013.

 

Under the terms of the initial agreements made between Darren Chapman and Liberty Capital Markets Limited and Oriental Capital Investment Limited Darren Chapman had the option to call upon 2,909,926 ordinary WRN shares for a price between 5p and 10p. As at September 2014 Darren Chapman had called upon 1,002,139 of these shares and by February 2015 he had sold on this holding.

 

As a result of the revised agreement Darren Chapman has the option to call on 1,907,797 ordinary WRN shares for a price between 5p and 10p. Theses share would be delivered from the WRN holding currently held by Renatus Capital Limited.

 

Whilst the arrangement disclosed has not been legally formalised the parties involved consider the arrangement disclosed to be the accurate state of affairs as at the date of this announcement and that this arrangement came into being upon the dissolution of Liberty Capital Markets Limited and Oriental Capital Investment Limited in October 2014.

 

 

It is not necessary to provide details on a Supplemental Form (Open Positions) with regard to cash-settled derivatives.

 

The currency of all prices and other monetary amounts should be stated.

 

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 at www.thetakeoverpanel.org.uk.

 

 

SUPPLEMENTAL FORM 8 (OPEN POSITIONS)

 

DETAILS OF OPEN STOCK-SETTLED DERIVATIVE (INCLUDING OPTION) POSITIONS, AGREEMENTS TO PURCHASE OR SELL ETC.

Note 5(i) on Rule 8 of the Takeover Code (the "Code")

 

 

1.         KEY INFORMATION

 

Full name of person making disclosure:

Wulstan Earley

Name of offeror/offeree in relation to whose relevant securities the disclosure relates:

Worthington Group Plc

 

2.         STOCK-SETTLED DERIVATIVES (INCLUDING OPTIONS)

 

Class of relevant security

Product description e.g. call option

Written or purchased

Number of securities to which option or derivative relates

Exercise price per unit

Type

e.g. American, European etc.

Expiry date

Ordinary Shares

Call Option

Written

263,158

9.5p

 

None

Ordinary Shares

Call Option

Written

1,000,000

10p

 

None

Ordinary Shares

Call Option

Written

470,588

8.5p

 

None

Ordinary Shares

Call Option

Written

174,051

5p

 

None

 

3.         AGREEMENTS TO PURCHASE OR SELL ETC.

 

Full details should be given so that the nature of the interest or position can be fully understood:

 

The Olympus Trading Group Limited has agreed to take over responsibility for fulfilling contracts for difference agreements previously entered into by Liberty Capital Markets Limited (dissolved) and Oriental Capital Investment Limited (dissolved) with Darren Chapman in 2011 to 2013.

 

Under the terms of the initial agreements made between Darren Chapman and Liberty Capital Markets Limited and Oriental Capital Investment Limited Darren Chapman had the option to call upon 2,909,926 ordinary WRN shares for a price between 5p and 10p. As at September 2014 Darren Chapman had called upon 1,002,139 of these shares and by February 2015 he had sold on this holding.

 

As a result of the revised agreement Darren Chapman has the option to call on 1,907,797 ordinary WRN shares for a price between 5p and 10p. Theses share would be delivered from the WRN holding currently held by Renatus Capital Limited.

 

Whilst the arrangement disclosed has not been legally formalised the parties involved consider the arrangement disclosed to be the accurate state of affairs as at the date of this announcement and that this arrangement came into being upon the dissolution of Liberty Capital Markets Limited and Oriental Capital Investment Limited in October 2014.

 

 

 

 

 

It is not necessary to provide details on a Supplemental Form (Open Positions) with regard to cash-settled derivatives.

 

The currency of all prices and other monetary amounts should be stated.

 

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 at www.thetakeoverpanel.org.uk.

 

 

 

 

 

 

 


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