Business
Director shareholding and concert party update
Director shareholding and concert party update.
About this update from Newmark Security Plc
[{"type":"text","content":"\n \n \n RNS Number : 5805O\n Newmark Security PLC\n 01 June 2020\n \n \n \n \n Newmark Security plc\n \n \n \n \n \n (\"Newmark\", the \"Company\" or the \"Group\")\n \n \n \n \n \n Director shareholding and concert party update\n \n \n Newmark Security plc (AIM: NWT), a leading provider of products and services in the security and data sectors, announces that Michel Rapoport, Non-Executive Director, has purchased 35,500,000 ordinary shares of 1p each of the Company (\"Ordinary Shares\") by way of a transfer at a price of 1.06p per share from Mr Elie Dwek (brother of Maurice Dwek, Chairman of the Company).\n \n Following the completion of this transfer, Michel Rapoport will have a total beneficial interest in 58,555,000 Ordinary Shares, representing 12.49 per cent of the total issued share capital of the Company.\n \n Elie Dwek no longer has a notifiable interest in the Company's issued share capital.\n \n The Company has agreed with the Takeover Panel Executive that, as a result of the transfer of shares from Elie Dwek to Michel Rapoport, Michel Rapoport is now considered to be a member of the Dwek family concert party under the UK Takeover Code (the \"Dwek Concert Party\") pursuant to the provisions of Note 1 on Rule 9.1 of the UK Takeover Code (the \"Code\"). Mr Rapoport was not a member of The Dwek Concert Party prior to the transfer taking place. The Dwek Concert Party now consists of Maurice Dwek, Elie Dwek, Marie-Claire Dwek and Michel Rapoport. It has a combined shareholding of 155,854,467 Ordinary Shares, representing 33.25 per cent of the total issued share capital and voting rights of the Company. \n \n Under Rule 9 of the Code any person who acquires, whether by a series of transactions over a period of time or not, an interest (as defined in the Code) in shares which (taken together with shares in which that person is already interested or in which persons acting with him are interested) carry 30% or more of the voting rights of a company which is subject to the Code, that person is normally required to make a general offer to all the remaining shareholders to acquire their shares.\n \n Similarly, Rule 9 of the Code also provides that when any person, together with persons acting in concert with him, is interested in shares which, in aggregate, c...