TIDMSTEL
RNS Number : 0267F
Stellar Diamonds PLC
15 February 2018
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: Stellar Diamonds Plc
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(b) Owner or controller of interests and short positions disclosed, if different from 1(a): N/A
The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s),
settlor and beneficiaries must be named.
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(c) Name of offeror/offeree in relation to whose relevant securities this form relates: Stellar Diamonds Plc
Use a separate form for each offeror/offeree
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(d) Is the discloser the offeror or the offeree? OFFEREE
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(e) Date position held: 15 February 2018
The latest practicable date prior to the disclosure
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(f) In addition to the company in 1(c) above, is the discloser making disclosures in respect No
of any other party to the offer?
If it is a cash offer or possible cash offer, state "N/A"
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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.
(0) Interests and short positions in the relevant securities of
the offeror or offeree to which the disclosure relates
Class of relevant security: 1 pence ordinary shares
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Interests Short positions
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Number % Number %
-------------------------------------------------------------------------------- ----------- --- ------------- ---
(1) Relevant securities owned and/or controlled: Nil Nil
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(2) Cash-settled derivatives: Nil Nil
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(3) Stock-settled derivatives (including options) and agreements to Nil Nil
purchase/sell:
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Nil Nil
TOTAL:
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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
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Details, including nature of the rights concerned and relevant percentages: nil
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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:
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a) Holdings in ordinary shares of 1 pence each in Stellar Diamonds plc
Name Note No. of % of issued
Stellar share capital
Diamonds of Stellar
plc Shares
--------------------- ----- ------------ ---------------
Peter Daresbury 1 2,033,827 3.28%
--------------------- ----- ------------ ---------------
Daresbury
family
Trusts 2 7,101 0.01%
--------------------- ----- ------------ ---------------
Karl Smithson 3 1,526,487 2.46%
--------------------- ----- ------------ ---------------
Helen Smithson 27,839 0.04%
--------------------- ----- ------------ ---------------
Steven
Poulton 4 1,456,745 2.35%
--------------------- ----- ------------ ---------------
Hansjörg
Plaggemars 587,862 0.95%
--------------------- ----- ------------ ---------------
Deutsche
Balaton
Aktiengesellschaft 5 8,547,692 13.78%
--------------------- ----- ------------ ---------------
1. Includes 3,190 shares held on trust by Savernake Holdings;
2. Held by Wilderspool Investments No 2 and Palmville for the beneficial interest of Peter
Daresbury's adult children;
3. Includes 49,272 shares held by Mrs Sara Smithson;
4. Includes 240,000 shares held by Mrs Susannah Poulton;
5. The ultimate beneficial owner/controller of Deutsche Balaton Aktiengesellschaft ("Deutsche
Balaton") is Wilhelm K. T. Zours. Mr Zours' controlling beneficial interest in Deutsche Balaton
is held through intermediary holding companies VV Beteiligungen Aktiengesellschaft and DELPHI
Unternehmensberatung Aktiengesellschaft ("DELPHI"). Hansjörg Plaggemars is a director
of DELPHI and consultant to Deutsche Balaton.
b) Director share options granted
Name Number of options Exercise Price
over Stellar per Stellar Diamonds
ordinary shares(1) share
--------------- -------------------- ----------------------
Karl Smithson 1,850,000 3.25 pence
--------------- -------------------- ----------------------
Steven Poulton 750,000 3.25 pence
--------------- -------------------- ----------------------
Hansjörg 750,000 3.25 pence
Plaggemars
--------------- -------------------- ----------------------
(1) Exercisable for a period of 5 years from 20 December 2017 ("Grant Date"). One third of
the options have vested, one third will vest in six months after the Grant Date and one third
in twelve months after the Grant Date.
c) Interest in convertible loan notes and warrants
Steven Poulton has the following rights over ordinary shares
Class of relevant security: Convertible Loan Note 5 June 2018 (US$1.34m)
--------------------------------- -----------------------------------------------------
Interests Short positions
--------------------------------- ------------------
Number % Number %
--------------------------------- --------------------- ---------- ------------- ---
(1) Relevant securities owned
and/or controlled: US$598,838 44.6%
--------------------------------- --------------------- ---------- ------------- ---
(2) Cash-settled derivatives:
--------------------------------- --------------------- ---------- ------------- ---
(3) Stock-settled derivatives
(including options) and
agreements to purchase/sell:
--------------------------------- --------------------- ---------- ------------- ---
TOTAL: US$598,838 44.6%
--------------------------------- --------------------- ---------- ------------- ---
Class of relevant security: Warrants(1)
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Interests Short positions
------------------- ------------------
Number % Number %
----------------------------------------------- ----------- ------ ------------- ---
(1) Relevant securities owned and/or
controlled: 25,482,468 27.5%
----------------------------------------------- ----------- ------ ------------- ---
(2) Cash-settled derivatives:
----------------------------------------------- ----------- ------ ------------- ---
(3) Stock-settled derivatives (including
options) and agreements to purchase/sell:
----------------------------------------------- ----------- ------ ------------- ---
TOTAL: 25,482,468 27.5%
----------------------------------------------- ----------- ------ ------------- ---
(1) The exercise price of the warrants is currently assumed to be 5 pence per ordinary share.
However the exercise price of the warrants and the resulting quantum of shares issued upon
exercise may vary in accordance with the terms of the loan note agreements (which are summarised
in Stellar Diamonds' announcements).
Deutsche Balaton has the following rights over ordinary shares
Class of relevant security: Convertible Loan Note 31 March 2018 (US$1.65m)
------------------------------ --------------------------------------------------------
Interests Short positions
------------------------------------ ------------------
Number % Number %
------------------------------ ----------------------- ----------- ------------- ---
(1) Relevant securities owned
and/or controlled: US$1,650,000 100.0%
------------------------------ ----------------------- ----------- ------------- ---
(2) Cash-settled derivatives:
------------------------------ ----------------------- ----------- ------------- ---
(3) Stock-settled derivatives
(including options) and
agreements to purchase/sell:
------------------------------ ----------------------- ----------- ------------- ---
TOTAL: US$1,650,000 100.0%
------------------------------ ----------------------- ----------- ------------- ---
Class of relevant security: Convertible Loan Note 5 June 2018 (US$1.34m)
--------------------------------- -----------------------------------------------------
Interests Short positions
--------------------------------- ------------------
Number % Number %
--------------------------------- --------------------- ---------- ------------- ---
(1) Relevant securities owned
and/or controlled: US$293,345 21.8%
--------------------------------- --------------------- ---------- ------------- ---
(2) Cash-settled derivatives:
--------------------------------- --------------------- ---------- ------------- ---
(3) Stock-settled derivatives
(including options) and
agreements to purchase/sell:
--------------------------------- --------------------- ---------- ------------- ---
TOTAL: US$293,345 21.8%
--------------------------------- --------------------- ---------- ------------- ---
Class of relevant security: Warrants(1)
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Interests Short positions
------------------- ------------------
Number % Number %
----------------------------------------------- ----------- ------ ------------- ---
(1) Relevant securities owned and/or
controlled: 47,589,149 51.4%
----------------------------------------------- ----------- ------ ------------- ---
(2) Cash-settled derivatives:
----------------------------------------------- ----------- ------ ------------- ---
(3) Stock-settled derivatives (including
options) and agreements to purchase/sell:
----------------------------------------------- ----------- ------ ------------- ---
TOTAL: 47,589,149 51.4%
----------------------------------------------- ----------- ------ ------------- ---
(1) The exercise price of the warrants is currently assumed to be 5 pence per ordinary share,
at an exchange rate of 1.41 USD = 1.00 GBP. However the exercise price of the warrants and
the resulting quantum of shares issued upon exercise may vary in accordance with the terms
of the loan note agreements (which are summarised in Stellar Diamonds' announcements).
In addition to the interests stated above, Deutsche Balaton also has rights over a further
14,184,397 Ordinary Shares in Stellar Diamonds pursuant to an agreement entered into with
Stellar Diamonds on 5 October 2016 (as subsequently amended) whereby Deutsche Balaton AG conditionally
agreed to waive certain of its rights under its convertible loan note relating to its ability
to convert/and or exercise its loan note and warrants respectively into shares in a subsidiary
of the Company.
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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"
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None
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(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"
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None
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(c) Attachments
Are any Supplemental Forms attached?
Supplemental Form 8 (Open Positions) NO
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Supplemental Form 8 (SBL) NO
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Date of disclosure: 15 February 2018
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Contact name: Karl Smithson
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Telephone number: 0207 164 6371
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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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
FEESFWFFIFASEIE
(END) Dow Jones Newswires
February 15, 2018 06:58 ET (11:58 GMT)
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