Form 8 (OPD) Faroe Petroleum – Correction
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")
This announcement replaces the 'Form 8 (OPD) Faroe Petroleum plc' announcement released on 10th December 2018. The interests of Bank of Montreal shown at section 3(d) has been amended. All other information remains unchanged
1. KEY INFORMATION
| (a) Full name of discloser: | Faroe Petroleum plc |
| (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 | Faroe Petroleum plc |
| (d) Is the discloser the offeror or the offeree? | OFFEREE |
| (e) Date position held: The latest practicable date prior to the disclosure | 07 December 2018 |
| (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" | NO |
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: | Nil | - | Nil | - |
| (2) Cash-settled derivatives: | Nil | - | Nil | - |
| (3) Stock-settled derivatives (including options) and agreements to purchase/sell: | Nil | - | Nil | - |
| TOTAL: | Nil | - | Nil | - |
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: | Nil |
| Details, including nature of the rights concerned and relevant percentages: | N/A |
3. POSITIONS OF PERSONS ACTING IN CONCERT WITH THE PARTY TO THE OFFER MAKING THE DISCLOSURE
(1) Includes interests held by close relatives. In addition to the above interests, Jonathan Cooper, Helge Hammer and Graham Stewart are also interested in Ordinary Shares pursuant to the Faroe Petroleum Share Incentive Plan ("SIP"): (b) Directors' rights to subscribe for Faroe Petroleum plc shares under Faroe Petroleum plc share plans (c) Interests held by Faroe Petroleum plc Employee Benefit Trust (d) Interests held by the connected advisers of Faroe Petroleum plc
| 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: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (a) Interests held by the directors of Faroe Petroleum plc and their related persons | Director | Number of Ordinary Shares held | Percentage of total issued share capital (to 3 d.p.) | John Bentley (1) | 172,270 | 0.046 | Brent Cheshire | 15,000 | 0.004 | Jonathan Cooper (1) | 639,230 | 0.171 | Helge Hammer | 1,295,950 | 0.348 | Jorunn Saetre | 28,571 | 0.314 | Graham Stewart (1) | 2,464,127 | 0.661 | Roger Witts (1) | 109,180 | 0.088 | Director | Number of Ordinary Shares held | Percentage of total issued share capital (to 3 d.p.) | Jonathan Cooper | 16,934 | 0.005 | Helge Hammer | 24,569 | 0.007 | Graham Stewart | 25,288 | 0.007 | Director | Nature of right | Number of Ordinary Shares | Date of grant | Vesting date | Expiry date | Jonathan Cooper | Share options in the Faroe Petroleum Co-Investment Plan ("CIP") | 470,977 | 27/01/2016 | 27/01/2019 | 27/01/2026 | 93,533 | 12/01/2017 | 12/01/2020 | 12/01/2027 | 12,636 | 16/02/2017 | 16/02/2020 | 16/02/2027 | 27,204 | 30/04/2018 | 29/04/2021 | 29/04/2028 | Share options in the Faroe Petroleum Incentive Plan ("FPIP") | 631,034 | 15/06/2015 | 15/06/2018 | 15/06/2022 | 753,752 | 09/08/2016 | 09/08/2019 | 09/08/2023 | 644,083 | 28/07/2017 | 28/07/2020 | 28/07/2024 | 385,844 | 24/05/2018 | 24/05/2021 | 24/05/2025 | Share options in the Faroe Petroleum Share Incentive Plan ("SIP") | 1,370 | 31/12/2015 | 31/12/2018 | - | 1,144 | 31/03/2016 | 01/04/2019 | - | 1,088 | 30/06/2016 | 01/07/2019 | - | 1,040 | 30/09/2016 | 01/10/2019 | - | 702 | 03/01/2017 | 04/01/2020 | - | 766 | 31/03/2017 | 31/03/2020 | - | 912 | 28/06/2017 | 28/06/2020 | - | 766 | 27/09/2017 | 26/09/2020 | - | 734 | 03/01/2018 | 02/01/2021 | - | 704 | 29/03/2018 | 28/03/2021 | - | 514 | 29/06/2018 | 28/06/2021 | - | 446 | 28/09/2018 | 27/09/2021 | - | Helge Hammer | Share options in the CIP | 458,756 | 27/01/2016 | 27/01/2019 | 27/01/2026 | 114,044 | 12/01/2017 | 12/01/2020 | 12/01/2027 | 15,290 | 16/02/2017 | 16/02/2020 | 16/02/2027 | 29,659 | 30/04/2018 | 29/04/2021 | 29/04/2028 | Share options in the FPIP | 695,902 | 15/06/2015 | 15/06/2018 | 15/06/2022 | 831,235 | 09/08/2016 | 09/08/2019 | 09/08/2023 | 710,292 | 28/07/2017 | 28/07/2020 | 28/07/2024 | 431,854 | 24/05/2018 | 24/05/2021 | 24/05/2025 | Share options in the SIP | 2 | 30/11/2015 | 30/11/2018 | - | 1,238 | 31/12/2015 | 31/12/2018 | - | 1,124 | 31/03/2016 | 01/04/2019 | - | 1,122 | 30/06/2016 | 01/07/2019 | - | 1,168 | 30/09/2016 | 01/10/2019 | - | 770 | 03/01/2017 | 04/01/2020 | - | 854 | 31/03/2017 | 31/03/2020 | - | 910 | 28/06/2017 | 28/06/2020 | - | 778 | 27/09/2017 | 26/09/2020 | - | 708 | 03/01/2018 | 02/01/2021 | - | 698 | 29/03/2018 | 28/03/2021 | - | 514 | 29/06/2018 | 28/06/2021 | - | 450 | 28/09/2018 | 27/09/2021 | - | Graham Stewart | Share options in the CIP | 697,329 | 27/01/2016 | 27/01/2019 | 27/01/2026 | 138,512 | 12/01/2017 | 12/01/2020 | 12/01/2027 | 18,713 | 16/02/2017 | 16/02/2020 | 16/02/2027 | 40,289 | 30/04/2018 | 29/04/2021 | 29/04/2028 | Share options in the FPIP | 1,168,122 | 15/06/2015 | 15/06/2018 | 15/06/2022 | 1,395,287 | 09/08/2016 | 09/08/2019 | 09/08/2023 | 1,192,277 | 28/07/2017 | 28/07/2020 | 28/07/2024 | 714,219 | 24/05/2018 | 24/05/2021 | 24/05/2025 | Share options in the SIP | 1,370 | 31/12/2015 | 31/12/2018 | - | 1,144 | 31/03/2016 | 01/04/2019 | - | 1,086 | 30/06/2016 | 01/07/2019 | - | 2 | 29/07/2016 | 30/07/2019 | - | 1,040 | 30/09/2016 | 01/10/2019 | - | 702 | 03/01/2017 | 04/01/2020 | - | 766 | 31/03/2017 | 31/03/2020 | - | 912 | 28/06/2017 | 28/06/2020 | - | 766 | 27/09/2017 | 26/09/2020 | - | 734 | 03/01/2018 | 02/01/2021 | - | 704 | 29/03/2018 | 28/03/2021 | - | 514 | 29/06/2018 | 28/06/2021 | - | 446 | 28/09/2018 | 27/09/2021 | - | Number of Ordinary Shares held | Percentage of total issued share capital (to 3 d.p.) | 2,757,088 | 0.739 | Name | Number of Ordinary Shares held | Percentage of total issued share capital (to 3 d.p.) | Bank of Montreal | 4,016,081 | 1.077 |
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: | 21 December 2018 |
| Contact name: | Julian Riddick |
| Telephone number: | +44 (0)20 7839 9720 |
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.
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