TIDMDSN TIDMQXT

RNS Number : 9790A

Densitron Technologies PLC

01 October 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) Identity of the party to the offer making the disclosure:                Densitron Technologies plc ("Densitron") 
---------------------------------------------------------------------------  ----------------------------------------- 
 (b) Owner or controller of interests and short positions disclosed, if 
 different from 1(a): 
 The naming of nominee or vehicle companies is insufficient 
---------------------------------------------------------------------------  ----------------------------------------- 
 (c) Name of offeror/offeree in relation to whose relevant securities this    Densitron 
 form relates: 
 Use a separate form for each party to the offer 
---------------------------------------------------------------------------  ----------------------------------------- 
 (d) Is the party to the offer making the disclosure the offeror or the       Offeree 
 offeree? 
---------------------------------------------------------------------------  ----------------------------------------- 
 (e) Date position held:                                                      24 September 2015 
---------------------------------------------------------------------------  ----------------------------------------- 
 (f) Has the party previously disclosed, or is it today disclosing, under     No 
 the Code in respect 
 of any other party to this offer? 
---------------------------------------------------------------------------  ----------------------------------------- 
 
   2.         POSITIONS OF THE PARTY TO THE OFFER MAKING THE DISCLOSURE 

(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 1p each 
-------------------------------------------------  ------------------------------------- 
                                                       Interests        Short positions 
-------------------------------------------------  -----------------  ------------------ 
                                                      Number      %       Number       % 
-------------------------------------------------  ------------  ---  -------------- 
 (1) Relevant securities owned and/or controlled:        -        -          -         - 
-------------------------------------------------  ------------  ---  -------------- 
 (2) Derivatives (other than options):                   -        -          -         - 
-------------------------------------------------  ------------  ---  -------------- 
 (3) Options and agreements to purchase/sell:            -        -          -         - 
-------------------------------------------------  ------------  ---  -------------- 
                                                         -        -          -         - 
      TOTAL: 
-------------------------------------------------  ------------  ---  -------------- 
 
   (b)        Rights to subscribe for new securities 

None

    (c)       Irrevocable commitments 
 
 Details of any irrevocable commitments 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): 
--------------------------------------------------------------------------------------------------------- 
      Definitions used in this disclosure are taken from the Rule 2.7 announcement issued by Densitron 
       on 25 September 2015 (the "Announcement"). 
       Quixant plc has received irrevocable undertakings to accept (or procure acceptance of, as 
       the case may be) the Offer in respect of the following Densitron Shares: 
       Directors 
       The Densitron Directors have given irrevocable undertakings in relation to the Proposals as 
       follows: Name of Densitron    Number of Densitron         Percentage       Percentage of 
         Director                Shares to which     of Densitron's    Densitron Shares 
                                     undertaking    existing issued         entitled to 
                                        relates*     ordinary share         vote at the 
                                                           capital*      Court Meeting* 
        Grahame Falconer                 442,612              0.64%               0.64% 
        Tim Pearson                       94,516              0.14%               0.14% 
         John Farrell**               11,509,675             16.64%              16.64% 
 
        Total                         12,046,803             17.42%              17.42% 
 
       * assuming that no Densitron Shares are issued prior to the Court Meeting pursuant to the 
       Scheme. 
       * * relevant securities held in the name of CGWL Nominees Limited as nominee for Sterling 
       Property Trust Limited 
       These irrevocable undertakings include undertakings in respect of their stated beneficial 
       holdings of Densitron Shares: 
       (i) to cast, or, where applicable, procure the casting of, all voting rights attaching to 
       such Densitron Shares in favour of any resolutions required to give effect to the Scheme at 
       the General Meeting or the Court Meeting; 
       (ii) if Quixant exercises its right to structure the Acquisition as a Takeover Offer, to accept 
       or procure the acceptance of such Offer; and 
       (iii) not to accept any offer made or proposed to be made in respect of the Densitron Shares 
       by any person other than Quixant, or, where applicable, to procure that no such offer is accepted. 
       These irrevocable undertakings would have ceased to be binding if the Announcement had not 
       been released by 5.00 p.m. (London time) on 2 October 2015 or such later date as Quixant and 
       Densitron had agreed. 
       Institutional and other Densitron Shareholders 
       The following Densitron Shareholders have given irrevocable undertakings in relation to the 
       Acquisition and Scheme as follows: 
        Name of Densitron          Number of Densitron         Percentage         Percentage 
         Shareholder                   Shares to which     of Densitron's       of Densitron 
                                           undertaking    existing issued    Shares entitled 
                                               relates     ordinary share         to vote at 
                                                               capital **          the Court 
                                                                                   Meeting** 
        Mr Peter Gyllenhammar 
         *                                  20,745,000             29.99%             29.99% 
        Mr Johan Claesson 
         and Mr Magnus Claesson 
         ***                                 4,406,308              6.37%              6.37% 
        Mr W and Mrs S 
         Campbell ****                       3,300,000              4.77%              4.77% 
 
 
        TOTAL:                              28,451,308             41.13%             41.13% 
        *beneficial owner of Peter Gyllenhammar AB held through 
         Chase Nominees 
         ** assuming that no Densitron Shares are issued prior 
         to the Court Meeting pursuant to the Scheme. 
        *** as to 600,000 and 3,806,308 shares held respectively, 
                              in each case through Chase Nominees 
                  **** held through Barclayshare Nominees Limited 
 
       The undertakings and the numbers referred to in this table refer only to those Densitron Shares 
       to which the relevant Densitron Shareholder is beneficially entitled and any share such Densitron 
       Shareholder is otherwise able to control the exercise of in terms of the rights attaching 
       to such share, including the ability to procure the transfer of such share (assuming that 
       no Densitron Shares are issued prior to the Court Meeting pursuant to the Densitron Scheme). 
       These irrevocable undertakings include undertakings from the relevant Densitron Shareholder 
       in respect of their entire beneficial holdings of Densitron Shares and any Densitron Shares 
       which they are otherwise able to control the exercise of in terms of the rights attaching 
       to such share, including the ability to procure the transfer of such share: 
       (i) to cast, or, where applicable, procure the casting of, all voting rights attaching to 
       such Densitron Shares in favour of any resolutions in favour of the Scheme or required to 
       give effect to the Scheme at the General Meeting or the Court Meeting; 
       (ii) if Quixant exercises its right to structure the Acquisition as a Takeover Offer, to accept 
       or procure the acceptance of such Offer; and 
       (iii) not to accept any offer made or proposed to be made in respect of the Densitron Shares 
       by any person other than Quixant. 
       These irrevocable undertakings would have ceased to be binding if the Announcement had not 
       been released by 5.00 p.m. (London time) on 2 October 2015. 
       The irrevocable undertakings from each of Grahame Falconer, Tim Pearson and John Farrell, 
       shall lapse and cease to be binding if (i) the Offer is not made (by publication of the Offer 
       Document or Scheme Document, as the case may be) on substantially the terms and conditions 
       set out or referred to in the Announcement (and/or such other terms and conditions as may 
       be agreed by the Company and Offeror and/or required by the Code and/or the requirements of 
       the London Stock Exchange) by the date which is 28 days from the date of the Announcement 
       (or such later date as the Panel may permit); or (ii) the Offer does not become effective, 
       lapses, is withdrawn or otherwise becomes incapable of ever becoming effective, as the case 

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