Portfolio

Company Announcements

Director/PDMR Shareholding

RNS Number : 1487W
Cable & Wireless Communications PLC
14 August 2015
 



CABLE & WIRELESS COMMUNICATIONS PLC (THE "COMPANY")

 

NOTIFICATION OF TRANSACTIONS OF DIRECTORS, PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY ("PDMRs") OR CONNECTED PERSONS

 

This announcement relates to both the Company's obligations in respect of transactions notified to the Company in accordance with DTR 3.1.2R on 14 August 2015 and under Rule 9 of the City Code on Takeovers and Mergers (the "Takeover Code"), and is given in accordance with DTR 3.1.4R(1)(a).

The Company was notified on 14 August 2015, that 130,246 ordinary shares in the capital of the Company (the "Shares") had been acquired by Phil Bentley in proportion to the amount that he would otherwise have received in accordance with the terms of the Company's dividend reinvestment plan (the "DRIP") and, consequently, his holding in the Company has increased by 130,246 Shares.

Concert Party

In November 2014, the UK Panel on Takeovers and Mergers ("Panel") deemed the directors of the Company from time to time (and their close relatives) to be acting in concert with Brendan Paddick, Clearwater Holdings (Barbados Limited) ("Clearwater"), Columbus Holding LLC ("CHLLC") and John Risley (as ultimate controller of Clearwater) and John Malone (as ultimate controller of CHLLC) (together the "Concert Party"). The Concert Party is deemed to be in existence until the Panel rules otherwise.

On 5 December 2014, the Company's independent shareholders approved a waiver of obligations arising under Rule 9.1 of the City Code on Takeovers and Mergers ("Takeover Code" and "Whitewash" respectively). The effect of the Whitewash was to waive the obligation which would normally oblige a member of the Concert Party to make a general offer to all other shareholders to acquire their shares following any acquisition.

The Whitewash permits up to the following numbers of interests in shares to be held by the Concert Party without a mandatory offer obligation arising under Rule 9.

Waiver

Maximum interest in CWC shares

Percentage of issued share capital of CWC

Waiver in respect of the issue of the Consideration Shares (in addition to the existing share interests of the directors of the Company))

1,575,708,553

36.07

 

Waiver in respect of existing awards under the Performance Share Plan

 

12,381,422

0.28

Waiver in respect of further awards under the CWC Share Plans

50,000,000

1.15

Waiver in respect of CWC Shares acquired by Directors to meet shareholding requirements

15,000,000

0.34

Waiver in respect of CWC Shares acquired by Directors in proportion to the amount that they would otherwise have received through the dividend reinvestment plan

10,000,000

0.23

Total

1,663,089,975

38.07

 

As a result of the acquisition of Shares by Phil Bentley on 14 August 2015 in accordance with the waiver in respect of the Company's Shares which are acquired by Directors in proportion to the amount that they would otherwise have received through the DRIP, the Concert Party's interests in the share capital of the Company is as set out below:

Name

Number of interests in ordinary shares of CWC

Percentage of issued share capital of CWC

Sir Richard Lapthorne

9,000,000

0.21

Phil Bentley

6,035,748

0.14

Perley McBride

927,108

0.02

Simon Ball

504,348

0.01

Alison Platt

23,764

0.001

Ian Tyler

4,000

0

Mark Hamlin

122,222

0.003

Barbara Thoralfsson

0

0

Brendan Paddick

136,077,710

3.12

Thad York

0

0

John Risley / Clearwater

846,355,136

19.37

CHLLC

575,096,759

13.16

Total

1,574,146,795

36.03

 

Clare Underwood

Company Secretary


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

Top of Page