RNS Number : 3560D

GoldmanSachs International

18 February 2020

FORM 8.5 (EPT/RI)

PUBLIC DEALING DISCLOSURE BY AN EXEMPT PRINCIPAL TRADER WITH RECOGNISED INTERMEDIARY STATUS DEALING IN A CLIENT-SERVING CAPACITY

Rule 8.5 of the Takeover Code (the "Code")

1.         KEY INFORMATION

(a) Name of exempt principal trader:	(GS) GOLDMAN SACHS INTERNATIONAL
(b) Name of offeror/offeree in relation to whose relevant securities this form relates:      Use a separate form for each offeror/offeree	NORTHGATE PLC
(c) Name of the party to the offer with which exempt principal trader is connected:	NORTHGATE PLC
(d) Date dealing undertaken:	17 February 2020
(e) In addition to the company in 1(b) above, is the exempt principal trader making disclosures in respect of any other party to the offer?      If it is a cash offer or possible cash offer, state "N/A"	YES - disclosed previously for REDDE PLC

2.         DEALINGS BY THE EXEMPT PRINCIPAL TRADER

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(b), copy table 2(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 security	Purchases/ sales	Total number of securities	Highest price per unit paid/received	Lowest price per unit paid/received
50p ordinary	Purchases	1,951,321	2.8950 GBP	2.8650 GBP
50p ordinary	Sales	1,905,052	2.8950 GBP	2.8650 GBP

(b)        Cash-settled derivative transactions

Class of relevant security	Product description e.g. CFD	Nature of dealing e.g. opening/closing a long/short position, increasing/reducing a long/short position	Number of reference securities	Price per unit
50p ordinary	CFD	Reducing a short position	35,000	2.8671 GBP
50p ordinary	CFD	Increasing a long position	1	2.8685 GBP
50p ordinary	CFD	Increasing a long position	1	2.8685 GBP
50p ordinary	CFD	Reducing a long position	39	2.8699 GBP
50p ordinary	CFD	Increasing a short position	10,000	2.8702 GBP
50p ordinary	CFD	Increasing a short position	1,250	2.8702 GBP
50p ordinary	CFD	Increasing a short position	7,500	2.8702 GBP
50p ordinary	CFD	Increasing a short position	135	2.8702 GBP
50p ordinary	CFD	Increasing a short position	5,000	2.8702 GBP
50p ordinary	CFD	Increasing a short position	5,000	2.8702 GBP
50p ordinary	CFD	Increasing a short position	10,000	2.8702 GBP
50p ordinary	CFD	Increasing a short position	307	2.8719 GBP
50p ordinary	CFD	Increasing a short position	789	2.8719 GBP
50p ordinary	CFD	Increasing a short position	3,419	2.8719 GBP
50p ordinary	CFD	Increasing a short position	964	2.8719 GBP
50p ordinary	CFD	Increasing a short position	8,767	2.8719 GBP
50p ordinary	CFD	Increasing a short position	263	2.8719 GBP
50p ordinary	CFD	Increasing a long position	185	2.8723 GBP
50p ordinary	CFD	Increasing a long position	1,652	2.8723 GBP
50p ordinary	CFD	Increasing a long position	259	2.8723 GBP
50p ordinary	CFD	Increasing a long position	8,645	2.8729 GBP
50p ordinary	CFD	Increasing a long position	967	2.8729 GBP
50p ordinary	CFD	Increasing a long position	1,358	2.8729 GBP
50p ordinary	CFD	Increasing a short position	397	2.8731 GBP
50p ordinary	CFD	Increasing a short position	968	2.8731 GBP
50p ordinary	CFD	Increasing a short position	4,317	2.8731 GBP
50p ordinary	CFD	Increasing a short position	1,216	2.8731 GBP
50p ordinary	CFD	Increasing a short position	10,917	2.8731 GBP
50p ordinary	CFD	Increasing a short position	322	2.8731 GBP
50p ordinary	CFD	Increasing a long position	320	2.8749 GBP
50p ordinary	CFD	Increasing a long position	2,865	2.8749 GBP
50p ordinary	CFD	Increasing a long position	448	2.8749 GBP
50p ordinary	CFD	Increasing a short position	10,000	2.8752 GBP
50p ordinary	CFD	Increasing a short position	10,000	2.8752 GBP
50p ordinary	CFD	Increasing a long position	3,246	2.8802 GBP
50p ordinary	CFD	Increasing a long position	511	2.8802 GBP
50p ordinary	CFD	Increasing a long position	366	2.8802 GBP
50p ordinary	CFD	Increasing a short position	10,000	2.8802 GBP
50p ordinary	CFD	Increasing a long position	3,243	2.8809 GBP
50p ordinary	CFD	Increasing a long position	510	2.8809 GBP
50p ordinary	CFD	Increasing a long position	362	2.8809 GBP
50p ordinary	CFD	Increasing a long position	297	2.8897 GBP
50p ordinary	CFD	Increasing a long position	2,632	2.8897 GBP
50p ordinary	CFD	Increasing a long position	414	2.8897 GBP
50p ordinary	CFD	Reducing a short position	2,500	2.8948 GBP

(c)        Stock-settled derivative transactions (including options)

(i)         Writing, selling, purchasing or varying

Class of relevant security Product description e.g. call option Writing, purchasing, selling, varying etc. Number of securities to which option relates Exercise price per unit Type e.g. American, European etc. Expiry date Option money paid/ received per unit

(ii)        Exercise

Class of relevant security Product description e.g. call option Exercising / exercised against Number of securities Exercise price per unit

(d)        Other dealings (including subscribing for new securities)

Class of relevant security Nature of dealing e.g. subscription, conversion Details Price per unit (if applicable)

3.         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 exempt principal trader 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"

NONE

(b)        Agreements, arrangements or understandings relating to options or derivatives

Details of any agreement, arrangement or understanding, formal or informal, between the exempt principal trader 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"

NONE

Date of disclosure:	18 February 2020
Contact name:	Kashif Rafiq and Papa Lette
Telephone number:	+44(20) 7051 0547 / +44(20) 7774 7442

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information Service and must also be emailed to the Takeover Panel at monitoring@disclosure.org.uk.  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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