TIDMAPP

RNS Number : 3410R

ABC arbitrage Asset Management

28 February 2023

FORM 8.3

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY

A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE

Rule 8.3 of the Takeover Code (the "Code")

   1.         KEY INFORMATION 
 
 (a) Full name of discloser:                      ABC arbitrage Asset Management 
 (b) Owner or controller of interests             ABCA Funds Ireland Plc 
  and short positions disclosed, if different      acting 
  from 1(a):                                       solely in respect of its 
  The naming of nominee or vehicle companies       sub-fund 
  is insufficient. For a trust, the trustee(s),    ABCA Opportunities Fund 
  settlor and beneficiaries must be named. 
                                                 ------------------------------- 
 (c) Name of offeror/offeree in relation          OFFEREE: Appreciate Group 
  to whose relevant securities this form           plc 
  relates: 
  Use a separate form for each offeror/offeree 
                                                 ------------------------------- 
 (d) If an exempt fund manager connected 
  with an offeror/offeree, state this 
  and specify identity of offeror/offeree: 
                                                 ------------------------------- 
 (e) Date position held/dealing undertaken:       27 February 2023 
  For an opening position disclosure, 
  state the latest practicable date prior 
  to the disclosure 
                                                 ------------------------------- 
 (f) In addition to the company in                NO 
  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" 
                                                 ------------------------------- 
 
   2.         POSITIONS OF THE PERSON 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 following the dealing (if any)

 
 Class of relevant security: 
                                     Interests        Short positions 
                                 -----------------  ------------------ 
                                   Number      %        Number      % 
                                 ----------  -----  -------------  --- 
 (1) Relevant securities 
  owned and/or controlled: 
                                 ----------  -----  -------------  --- 
                                               1 
 (2) Cash-settled derivatives:    2 871 721    .53 
                                 ----------  -----  -------------  --- 
 (3) Stock-settled derivatives 
  (including options) and 
  agreements to purchase/sell: 
                                 ----------  -----  -------------  --- 
 
   TOTAL:                         2 871 721   1.53 
                                 ----------  -----  -------------  --- 
 

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).

   (b)        Rights to subscribe for new securities (including directors' and other employee options) 
 
 Class of relevant security 
  in relation to which subscription 
  right exists: 
 Details, including nature of 
  the rights concerned and relevant 
  percentages: 
 
 
   3.         DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE 

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

The currency of all prices and other monetary amounts should be stated.

   (a)        Purchases and sales 
 
 Class of relevant   Purchase/sale   Number of securities   Price per unit 
      security 
 
 
   (b)        Cash-settled derivative transactions 
 
      Class of            Product         Nature of dealing          Number       Price per 
  relevant security     description      e.g. opening/closing      of reference      unit 
                          e.g. CFD      a long/short position,      securities 
                                          increasing/reducing 
                                         a long/short position 
                                          Increasing a long 
     2p ordinary            CFD                position              22 098        0.42091 
                      --------------  -------------------------  --------------  ---------- 
 
   (c)        Stock-settled derivative transactions (including options) 
   (i)         Writing, selling, purchasing or varying 
 
    Class         Product        Writing,         Number       Exercise       Type      Expiry    Option 
  of relevant    description    purchasing,    of securities     price        e.g.       date      money 
   security       e.g. call      selling,        to which       per unit    American,              paid/ 
                   option         varying         option                    European              received 
                                   etc.           relates                     etc.                per unit 
 
 
   (ii)        Exercise 
 
      Class of        Product description   Exercising/    Number of     Exercise 
  relevant security        e.g. call         exercised     securities    price per 
                             option           against                      unit 
 
 
   (d)        Other dealings (including subscribing for new securities) 
 
 Class of relevant    Nature of dealing    Details         Price per 
      security        e.g. subscription,              unit (if applicable) 
                          conversion 
 
   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 person making the disclosure and any party to the 
  offer or any person acting in concert with a party to the offer: 
  Irrevocable commitments and letters of intent should not be 
  included. If there are no such agreements, arrangements or understandings, 
  state "none" 
 
 
   (b)        Agreements, arrangements or understandings relating to options or derivatives 
 
 Details of any agreement, arrangement or understanding, formal 
  or informal, between the person making the disclosure 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" 
 
 
   (c)        Attachments 
 
 Is a Supplemental Form 8 (Open Positions) attached?   NO 
 
 
 Date of disclosure:    28/02/2023 
 Contact name:          Julia RIVESLANGE 
                       ----------------- 
 Telephone number:      +3315005558 
                       ----------------- 
 

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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