Form 8.3 – Holding(s) in Company

  1. Home
  2. /
  3. News
  4. /
  5. News Releases.
  6. /
  7. Form 8.3 – Holding(s)...

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:Waterford Finance & Investment Limited (“Waterford”)
(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.N/A
(c) Name of offeror/offeree in relation to whose relevant securities this form relates: Use a separate form for each offeror/offereeGulfsands Petroleum plc (“Gulfsands”)
(d) Is the discloser the offeror or the offeree?Offeror
(e) Date position held: The latest practicable date prior to the disclosure22 March 2021
(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”N/A: Cash offer

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:Ordinary shares of one penny
 InterestsShort positions
Number%Number%
(1) Relevant securities owned and/or controlled:294,779,68452.45N/A 
(2) Cash-settled derivatives:N/A N/A 
(3) Stock-settled derivatives (including options) and agreements to purchase/sell:N/A N/A 
  TOTAL:294,779,68452.45  

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:
Waterford  
Michael Kroupeev (Director of Waterford) holds options over 1,000,000 Gulfsands shares exercisable at 3.375 pence Concert Party  
Blake Holding Limited (Blake) holds 176,847,169 Gulfsands shares (31.47 per cent)
James Ede-Golightly (director of Blake) (“JEG”) holds 80,200 Gulfsands shares (0.01 per cent)
JEG holds options over 2,000,000 Gulfsands Shares at an exercise price of 3.375 pence

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)No
Supplemental Form 8 (SBL)No
Date of disclosure:22 March 2021
Contact name:James Gordon
Telephone number:020 7421 9425

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service.

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.

Stay Up to Date

Connect with us on LinkedIn and Twitter