UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
QUINTILES TRANSNATIONAL CORP.
(Name of Issuer)
COMMON STOCK, PAR VALUE $0.01 PER SHARE
(Title of Class of Securities)
748767 10 0
(CUSIP Number)
Richard L. Muglia
Skadden, Arps, Slate, Meagher & Flom LLP
25 Bucklersbury
London EC4N 8DA
England
(Name, Address and Telephone Number of Person Authorized to Receive
Notices and Communications)
November 29, 1996
(Date of Event which Requires Filing of
this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(b)(3) or (4), check the
following box ( ).
SCHEDULE 13D
CUSIP NO. 748767 10 0
- ----------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
HSBC Private Equity Investments Limited
- ----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) ( )
(B) ( )
- ----------------------------------------------------------------------------
3 SEC USE ONLY
- ----------------------------------------------------------------------------
4 SOURCE OF FUNDS
00
- ----------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) ( )
- ----------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
England
- ----------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 1,943,108
OWNED BY -------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON -------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
1,943,108
- ----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,943,108
- ----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
( )
- ----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.8%
- ----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- ----------------------------------------------------------------------------
SCHEDULE 13D
CUSIP NO. 748767 10 0
- ----------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
HSBC Equity Limited
- ----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) ( )
- ----------------------------------------------------------------------------
3 SEC USE ONLY
- ----------------------------------------------------------------------------
4 SOURCE OF FUNDS
00
- ----------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) ( )
- ----------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
England
- ----------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 1,943,108
OWNED BY -------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON -------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
1,943,108
- ----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,943,108
- ----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
( )
- ----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.8%
- ----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- ----------------------------------------------------------------------------
SCHEDULE 13D
CUSIP NO. 748767 10 0
- ----------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
HSBC Private Equity Europe Limited
- ----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) ( )
- ----------------------------------------------------------------------------
3 SEC USE ONLY
- ----------------------------------------------------------------------------
4 SOURCE OF FUNDS
00
- ----------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) ( )
- ----------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
England
- ----------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 1,943,108
OWNED BY -------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON -------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
1,943,108
- ----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,943,108
- ----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
( )
- ----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.8%
- ----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- ----------------------------------------------------------------------------
SCHEDULE 13D
CUSIP NO. 748767 10 0
- ----------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
HSBC Investment Bank plc
- ----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) ( )
- ----------------------------------------------------------------------------
3 SEC USE ONLY
- ----------------------------------------------------------------------------
4 SOURCE OF FUNDS
00
- ----------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) ( )
- ----------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
England
- ----------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 1,943,108
OWNED BY -------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON -------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
1,943,108
- ----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,943,108
- ----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
( )
- ----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.8%
- ----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO, IV
- ----------------------------------------------------------------------------
SCHEDULE 13D
CUSIP NO. 748767 10 0
- ----------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
HSBC Investment Bank Holdings plc
- ----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) ( )
- ----------------------------------------------------------------------------
3 SEC USE ONLY
- ----------------------------------------------------------------------------
4 SOURCE OF FUNDS
00
- ----------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) ( )
- ----------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
England
- ----------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 1,943,108
OWNED BY -------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON -------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
1,943,108
- ----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,943,108
- ----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
( )
- ----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.8%
- ----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO, HC
- ----------------------------------------------------------------------------
SCHEDULE 13D
CUSIP NO. 748767 10 0
- ----------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
HSBC Holdings plc
- ----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) ( )
- ----------------------------------------------------------------------------
3 SEC USE ONLY
- ----------------------------------------------------------------------------
4 SOURCE OF FUNDS
00
- ----------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) ( )
- ----------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
England
- ----------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 1,943,108
OWNED BY -------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON -------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
1,943,108
- ----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,943,108
- ----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
( )
- ----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.8%
- ----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO, HC
- ----------------------------------------------------------------------------
SCHEDULE 13D
CUSIP NO. 748767 10 0
- ----------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Lloyds Development Capital Limited
- ----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) ( )
- ----------------------------------------------------------------------------
3 SEC USE ONLY
- ----------------------------------------------------------------------------
4 SOURCE OF FUNDS
00
- ----------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) ( )
- ----------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
England
- ----------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 427,204
OWNED BY -------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON -------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
427,204
- ----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
427,204
- ----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
( )
- ----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.3%
- ----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- ----------------------------------------------------------------------------
SCHEDULE 13D
CUSIP NO. 748767 10 0
- ----------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
MSS Nominees Limited
- ----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) ( )
- ----------------------------------------------------------------------------
3 SEC USE ONLY
- ----------------------------------------------------------------------------
4 SOURCE OF FUNDS
00
- ----------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) ( )
- ----------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
England
- ----------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 812,909
OWNED BY -------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON -------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
812,909
- ----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
812,909
- ----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
( )
- ----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.4%
- ----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- ----------------------------------------------------------------------------
SCHEDULE 13D
CUSIP NO. 748767 10 0
- ----------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
General Accident Executor and Trustee Company Limited
- ----------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) ( )
- ----------------------------------------------------------------------------
3 SEC USE ONLY
- ----------------------------------------------------------------------------
4 SOURCE OF FUNDS
00
- ----------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) ( )
- ----------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
England
- ----------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 234,164
OWNED BY -------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON -------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
234,164
- ----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
234,164
- ----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
( )
- ----------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.7%
- ----------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- ----------------------------------------------------------------------------
This Schedule 13D (this "Schedule 13D") is filed
by HSBC Private Equity Investments Limited, HSBC Equity
Limited, HSBC Private Equity Europe Limited, HSBC Investment
Bank plc, HSBC Investment Bank Holdings plc, HSBC Holdings
plc, Lloyds Development Capital Limited, MSS Nominees
Limited, and General Accident Executor and Trustee Company
Limited (together, the "Reporting Persons"), with respect to
the common stock, par value $0.01 per share ("Shares"), of
Quintiles Transnational Corp., a North Carolina corporation
(the "Company").
ITEM 1. SECURITY AND ISSUER.
This Schedule 13D relates to Shares. The
principal executive offices of the Company are located at
4709 Creekstone Drive, Riverbirch Building, Suite 300,
Durham, North Carolina 27703.
ITEM 2. IDENTITY AND BACKGROUND.
This Schedule 13D is filed jointly by the
Reporting Persons. Attached hereto as Exhibit 1 and
incorporated herein by reference is an agreement among the
Reporting Persons that this Schedule 13D is filed on behalf
of each of them.
Each of HSBC Private Equity Investments Limited
("Private Equity"), HSBC Equity Limited ("Equity"), HSBC
Private Equity Europe Limited ("Equity Europe"), HSBC
Investment Bank plc ("IB"), HSBC Investment Bank Holdings
plc ("IB Holdings") and HSBC Holdings, plc ("Holdings",
collectively, "HSBC Companies") is a company incorporated in
England. Private Equity is wholly owned by Equity, whose
sole owner is Equity Europe. Equity Europe is wholly owned
by IB, which is a wholly owned subsidiary of IB Holdings,
which, in turn, is wholly owned by the ultimate parent,
Holdings.
Each of Private Equity, Equity and Equity Europe
is engaged in the business of providing private equity to
entities located in Europe, as well as acting as an
investment vehicle for HSBC Companies' investments. The
address of Private Equity, Equity and Equity is Vintner's
Place, 68 Upper Thames Street, London EC4V 3BJ, England.
IB is engaged in the investment banking and stock
brokerage business, and located at Thames Exchange, 10 Queen
Street Place, London EC4R 1BL, England. IB Holdings is a
holding company of IB and also located at the same address.
Holdings, the ultimate parent of HSBC Companies, is engaged
in the business of providing banking and financial services
through a global network of its subsidiaries. Its address
is 10 Lower Thames Street, London, EC3R 6AE, England.
Lloyds Development Capital Limited is a company
incorporated in England, located at 50 Grosvenor Street,
London, W1X 9FH, England. It is engaged in the business of
providing private equity.
MSS Nominees Limited is a company incorporated in
England, located at Mariner House, Pepys Street, London EC4N
4DA, England. Its business is to act as a nominee company.
General Accident Executor and Trustee Company
Limited is a company incorporated in England, located at
Ibex House, 42/47 Minories, London EC3N 1BX, England. Its
principal business is to act as trustee and custodian.
Attached hereto as Schedule I and incorporated
herein by reference is a list of all directors and officers
of each Reporting Person. Schedule I also sets forth the
address, principal occupation or employment and citizenship
of each person listed therein.
During the last five years, none of the Reporting
Persons has been convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors) or
was a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and as a
result of such proceeding was or is subject to a judgment,
decree or final order enjoining future violations of, or
prohibiting or mandating activities subject to, Federal or
State securities laws or finding any violation with respect
to such laws.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The Shares beneficially owned by the Reporting
Persons were acquired on November 29, 1996, pursuant to a
Share Exchange Agreement, dated as of October 4, 1996 (the
"Share Exchange Agreement"), by and among the Company,
Innovex Limited, a private limited company organized under
the laws of England and Wales ("Innovex"), and the
shareholders of Innovex (the "Innovex Shareholders"),
including the Reporting Persons. In exchange for the Shares
acquired by them, the Reporting Persons delivered to the
Company all of the shares of Innovex previously held by
them.
ITEM 4. PURPOSE OF TRANSACTION.
Share Exchange Agreement
As of October 4, 1996, the Company, Innovex and
the Innovex Shareholders entered into the Share Exchange
Agreement. The following summary of certain terms and
provisions of the Share Exchange Agreement is qualified in
its entirety to the full text of the Share Exchange
Agreement which is attached as Exhibit 2 to the Company's
Current Report on Form 8-K, dated October 6, 1996, and which
is incorporated by reference herein.
Pursuant to the terms of the Exchange Agreement on
November 29, 1996 (i) the Company acquired all of the
outstanding share capital of Innovex from the Innovex
Shareholders in exchange for 10 million Shares (ii) the
Company also purchased all outstanding Innovex cumulative
redeemable preference shares from the holders of such shares
for POUND1.00 each and (iii) the Company advanced cash to
Innovex to satisfy certain indebtedness of Innovex. Based
on the closing price of the Shares on the last full trading
day before the Exchange Agreement was announced, the total
value of Shares exchanged (assuming the exercise of all
outstanding options for Innovex Shares) was approximately
$737 million.
As shareholders of Innovex, on November 29, 1996,
HSBC Private Equity Investments Limited received 1,943,108
Shares, Lloyds Development Capital Limited received 427,204
Shares, MSS Nominees Limited received 812,909 Shares, and
General Accident Executor and Trustee Company Limited
received 234,164 Shares.
Registration Rights Agreement
The Shares acquired by the Reporting Persons were
issued by the Company without registration under the
Securities Act of 1933, as amended (the "Securities Act"),
pursuant to the exemption from registration contained in
Section 4(2) of the Securities Act. The Company has agreed
to provide the Innovex Shareholders with certain rights to
have the Shares registered under the Securities Act pursuant
to a Registration Rights Agreement, dated as of November 29,
1996 (the "Registration Rights Agreement"). The following
summary of certain terms and provisions of the Registration
Rights Agreement is qualified in its entirety by reference
to the full text of the Registration Rights Agreement which
has been filed with the Commission as Exhibit 2 to the
Company's Current Report on Form 8-K, dated October 6, 1996.
Under the Registration Rights Agreement, subject
to market conditions and other customary limitations, the
Company has (i) agreed to file a registration statement for
an underwritten offering, planned for early 1997 (the
"Secondary Offering"), to include up to 2.7 million of the
Shares, and granted to the Innovex Shareholders rights
("Demand Rights") to demand registration until an aggregate
of 2.7 million Shares owned by the Innovex Shareholders have
been sold; (ii) agreed to file a shelf registration
statement to allow the Innovex Shareholders to register
Shares for resale in amounts not to exceed 500,000 Shares in
any 90 day period for approximately three years (the "Shelf
Registration"); and (iii) granted rights ("Piggyback
Rights") to the Innovex Shareholders to participate in
certain underwritten offerings that the Company may register
over the next approximately three years. The Registration
Rights Agreement contains other customary provisions,
including indemnification provisions. The rights granted to
the Innovex Shareholders terminate when, among other things,
the Shares acquired by the Innovex Shareholders (i) may be
sold within the limitations set forth in Rule 144 under the
Securities Act or (ii) have been sold to an ineligible
person.
Orderly Marketing Arrangements
In connection with the execution of the
Registration Rights Agreement, the Reporting Persons also
entered into an Orderly Marketing Agreement, dated as of
November 29, 1996 (the "Orderly Marketing Agreement"), with
the other Innovex Shareholders for the purpose of allocating
their respective rights and obligations under the
Registration Rights Agreement. The following summary of
certain terms and provisions of the Orderly Marketing
Agreement is qualified in its entirety by reference to the
full text of the Orderly Marketing Agreement which is
attached as Exhibit 2 hereto.
The Orderly Marketing Agreement allocates among
the Innovex Shareholders the shares to be offered in
connection with the Secondary Offering such that Innovex
Shareholders that are members of the management of Innovex
(other than the Reporting persons) (the "Management Group")
are expected to offer and sell approximately 270,000 Shares,
and the balance of Shares sold by the Innovex Shareholders
in the Secondary Offering are expected to be sold by the
Reporting Persons and certain persons associated with Barrie
S. Haigh, formerly Chairman of Innovex, in the proportion of
83 1/3% to 16 2/3%, respectively. The Orderly Marketing
Agreement also provides that, in the event that the number
of Shares to be sold by the Innovex Shareholders in the
Secondary Offering increases, then the additional Shares to
be sold by the Innovex Shareholders will be sold by the
Reporting Persons, to the extent of their shareholdings.
The Orderly Marketing Agreement provides that the
parameters of the Secondary Offering will be subject to
control by the Reporting Persons, as will any other
offerings of Shares made during the period before which the
Reporting Persons shall have disposed of 75% of the Shares
acquired by them pursuant to the Share Exchange Agreement
(the "Internal Priority Period"). The Orderly Marketing
Agreement also provides that (i) during the Internal
Priority Period, all Shares sold pursuant to the Shelf
Registration will be Shares owned by the Reporting Persons,
and (ii) following the end of the Internal Priority Period,
Shares sold pursuant to the Shelf Registration will be
allocated in the following proportions: 50% to the Reporting
Persons and 50% to the Haigh Group and the Management Group,
provided that if at any time following the end of the
Internal Priority Period, Barrie Stevens Haigh shall no
longer be a director, executive officer, employee or
consultant of or to the Company, the Shares available to be
sold will be allocated to the Haigh Group in priority to the
Reporting Persons and the Management Group up to 85% of the
Haigh Group's Shares. In such event, Shares to be sold by
the Reporting Persons and the Management Group shall will
allocated in the following proportions: 88.2% to the
Reporting Persons and 11.8% to the Management Group.
The Orderly Marketing Agreement provides that,
during the Internal Priority Period, Demand Rights may be
exercised only by the Reporting Persons. In addition, the
Orderly Marketing Agreement provides that the number of
Shares to be sold by Innovex Shareholders in any offering
made upon exercise of Piggyback Rights during the Internal
Priority Period will be allocated in the following
proportions: 75% to the Reporting Persons; 15% to the Haigh
Group; and 10% to the Management Group. The Orderly
Marketing Agreement also provides that the number of Shares
to be sold by Innovex Shareholders in any offering made upon
exercise of Piggyback Rights after the Internal Priority
Period will be allocated in the following proportions: up to
66 2/3% to the Haigh Group and/or the Management Group, and
at least 33 1/3% to the Reporting Persons.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
Based on information contained in the most recent
publicly available filings of the Company with the
Securities and Exchange Commission, each Reporting Person is
deemed to beneficially own the number of Shares and the
percentage of outstanding Shares listed in the responses to
Items 11 and 13, respectively, of the cover page filed
herewith relating to such Reporting Person. In addition,
the numbers of Shares with respect to which each Reporting
Person (i) has sole voting power, (ii) shares voting power,
(iii) has sole dispositive power and (iv) shares dispositive
power, are listed in the responses to Items 7, 8, 9 and 10,
respectively, of the cover page filed herewith relating to
such Reporting Person.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR
RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE
ISSUER.
Except as set forth in Item 4 above, the Reporting
Persons have not entered into any contracts, arrangements,
understandings or relationships with respect to any
securities of the Company.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
Exhibit Description
1 Joint Filing
Agreement, dated
December 6, 1996
among the
Reporting Persons
2 Orderly Marketing
Agreement, dated as of
November 29, 1996, among
the persons listed in
Annex A thereto.
SIGNATURES
After reasonable inquiry and to the best of my
knowledge and belief, I certify that the information set
forth in this statement is true, complete and correct.
Dated: December 9, 1996
HSBC Private Equity
Investments Limited
By: /s/ Vincent G. O'Brien
---------------------------
Title: Finance Director
HSBC Equity Limited
By: /s/ Vincent G. O'Brien
---------------------------
Title: Finance Director
HSBC Private Equity Europe Limited
By: /s/ Vincent G. O'Brien
---------------------------
Title: Finance Director
HSBC Investment Bank Plc
By: /s/ Richard W. Quinn
---------------------------
Title: Company Secretary
HSBC Investment Bank Holdings Plc
By: /s/ Richard W. Quinn
---------------------------
Title: Company Secretary
HSBC Holdings Plc
By: /s/ Ralph G. Barber
---------------------------
Title: Company Secretary
Lloyds Development Capital Limited
By: /s/ Patrick Sellers
---------------------------
Title: Director
MSS Nominees Limited
By: /s/ Shawn Bryant
---------------------------
Title: Company Secretary
General Accident Executor and
Trustee Company Limited
By: /s/ R. A. Whitaker
---------------------------
Title: Group Secretary
<TABLE>
<CAPTION>
DIRECTORS AND EXECUTIVE OFFICERS OF
HSBC PRIVATE EQUITY INVESTMENTS LTD
<S> <C> <C> <C>
===========================================================================================================================
Business Principal Occupation
Name or Residence Address or Employment Citizenship
- ---------------------------------------------------------------------------------------------------------------------------
Ian McClure FORREST Vintner's Place Managing Director British
68 Upper Thames Street HSBC Private Equity Europe Ltd
London EC4V 3BJ
- ---------------------------------------------------------------------------------------------------------------------------
Roger Anthony Frederick Vintner's Place Director British
HEATH 68 Upper Thames Street HSBC Private Equity Europe Ltd
London EC4V 3BJ
- ---------------------------------------------------------------------------------------------------------------------------
Vincent Gerald O'BRIEN Vintner's Place Finance Director British
68 Upper Thames Street HSBC Private Equity Europe Ltd
London EC4V 3BJ
- ---------------------------------------------------------------------------------------------------------------------------
Company Secretary Vintner's Place Company Secretary British
George Royal Francis 68 Upper Thames Street HSBC Private Equity Europe Ltd
HEARNE London EC4V 3BJ
===========================================================================================================================
DIRECTORS AND EXECUTIVE OFFICERS OF
HSBC EQUITY LTD
<S> <C> <C> <C>
===========================================================================================================================
Business Principal Occupation
Name or Residence Address or Employment Citizenship
- ---------------------------------------------------------------------------------------------------------------------------
Ian McClure FORREST Vintner's Place Managing Director British
68 Upper Thames Street HSBC Private Equity Europe Ltd
London EC4V 3BJ
- ---------------------------------------------------------------------------------------------------------------------------
Roger Anthony Frederick Vintner's Place Director British
HEATH 68 Upper Thames Street HSBC Private Equity Europe Ltd
London EC4V 3BJ
- ---------------------------------------------------------------------------------------------------------------------------
Vincent Gerald O'BRIEN Vintner's Place Finance Director British
68 Upper Thames Street HSBC Private Equity Europe Ltd
London EC4V 3BJ
- ---------------------------------------------------------------------------------------------------------------------------
Company Secretary Vintner's Place Company Secretary British
George Royal Francis 68 Upper Thames Street HSBC Private Equity Europe Ltd
HEARNE London EC4V 3BJ
===========================================================================================================================
HSBC INVESTMENT BANK PLC
DIRECTORS, OFFICERS AND CONTROLLING PERSONS
<S> <C> <C> <C>
===========================================================================================================================
Business Principal Occupation
Name or Residence Address or Employment Citizenship
- ---------------------------------------------------------------------------------------------------------------------------
Bella Ann ALMEIDA HSBC Investment Bank plc Director of Personnel Malaysian
Thames Exchange HSBC Investment Bank plc
10 Queen Street Place
London EC4R 1BE
- ---------------------------------------------------------------------------------------------------------------------------
Bernard Harry ASHER HSBC Investment Bank plc Chairman British
Thames Exchange HSBC Investment Bank plc
10 Queen Street Place
London EC4R 1BE
- ---------------------------------------------------------------------------------------------------------------------------
Ian Christopher COTTERILL HSBC Investment Bank plc Chief Finance Director British
Thames Exchange HSBC Investment Bank plc
10 Queen Street Place
London EC4R 1BE
- ---------------------------------------------------------------------------------------------------------------------------
John Takis EVANGELIDES HSBC Investment Bank plc Managing Director British
Thames Exchange Investment Banking Division
10 Queen Street Place HSBC Investment Bank plc
London EC4R 1BE
- ---------------------------------------------------------------------------------------------------------------------------
Rupert Roderick HSBC Corporate Finance Executive Director British
FAURE-WALKER Vintner's Place HSBC Corporate Finance
68 Upper Thames Street
London EC4V 3BJ
- ---------------------------------------------------------------------------------------------------------------------------
Michael William GEERING HSBC Investment Bank plc Director, Institutional Marketing British
Thames Exchange HSBC Investment Bank plc
10 Queen Street Place
London EC4R 1BE
- ---------------------------------------------------------------------------------------------------------------------------
David Middleton GRAY HSBC Investment Bank plc Director, Equity Capital Markets British
Thames Exchange HSBC Investment Bank plc
10 Queen Street Place
London EC4R 1BE
- ---------------------------------------------------------------------------------------------------------------------------
Philip John Scott GRAY HSBC James Capel Asia Ltd Executive Chairman British
Level 17 HSBC James Capel Asia Ltd
1 Queens Road Central
Hong Kong
- ---------------------------------------------------------------------------------------------------------------------------
John Louis GREEN HSBC Investment Bank plc Director of Corporate Broking British
Thames Exchange Equity Capital Markets
10 Queen Street Place HSBC Investment Bank plc
London EC4R 1BE
- ---------------------------------------------------------------------------------------------------------------------------
Keith Reginald HARRIS HSBC Investment Bank plc Chief Executive British
Thames Exchange Investment Banking
10 Queen Street Place HSBC Investment Bank plc
London EC4R 1BE
- ---------------------------------------------------------------------------------------------------------------------------
Philip HILLS HSBC Investment Bank plc Managing Director British
Vitner's Place Export and Project Finance
68 Upper Thames Street HSBC Investment Bank plc
London EC4V 3BJ
- ---------------------------------------------------------------------------------------------------------------------------
John Martin LATHAM HSBC Investment Bank plc Compliance Director British
Thames Exchange HSBC Investment Bank plc
10 Queen Street Place
London EC4R 1BE
- ---------------------------------------------------------------------------------------------------------------------------
Peter Anthony LETLEY HSBC Investment Bank plc Deputy Chairman British
Thames Exchange HSBC Investment Bank plc
10 Queen Street Place
London EC4R 1BE
- ---------------------------------------------------------------------------------------------------------------------------
John Sebastian MACKAY HSBC Investment Bank plc Managing Director British
Thames Exchange Equity Capital Markets
10 Queen Street Place HSBC Investment Bank plc
London EC4R 1BE
- ---------------------------------------------------------------------------------------------------------------------------
Peter Martin MAYNARD HSBC Holdings plc Deputy Group Legal Adviser British
10 Lower Thames Street HSBC Holdings plc
London EC3R 6AE
- ---------------------------------------------------------------------------------------------------------------------------
Ian Alexander Neville HSBC Corporate Finance Director British
MCINTOSH Vintner's Place HSBC Corporate Finance
68 Upper Thames Street
London EC4V 3BJ
- ---------------------------------------------------------------------------------------------------------------------------
Linda June MORAN HSBC Investment Bank plc Director British
Thames Exchange European Research
10 Queen Street Place HSBC Investment Bank plc
London EC4R 1BE
- ---------------------------------------------------------------------------------------------------------------------------
Shakur MOSSAHEB HSBC Investment Bank plc Head of Global Risk British
Thames Exchange HSBC James Capel
10 Queen Street Place
London EC4R 1BE
- ---------------------------------------------------------------------------------------------------------------------------
James J. O'DONNELL HSBC Securities Inc. President US
250 Park Avenue HSBC Securities Inc.
New York, NY 10177
- ---------------------------------------------------------------------------------------------------------------------------
Krishna Manubhai PATEL HSBC Investment Bank plc Head of Trading Control British
Thames Exchange HSBC Investment Bank plc
10 Queen Street Place
London EC4R 1BE
- ---------------------------------------------------------------------------------------------------------------------------
Paul Edward HSBC Investment Bank plc Deputy Chairman British
SELWAY-SWIFT Thames Exchange HSBC Investments Bank plc
10 Queen Street Place
London EC4R 1BE
- ---------------------------------------------------------------------------------------------------------------------------
Andrew Urquhart HSBC Investment Bank plc Director, Equity Capital Markets British
SKINNER Thames Exchange HSBC Investment Bank plc
10 Queen Street Place
London EC4R 1BE
- ---------------------------------------------------------------------------------------------------------------------------
Company Secretary HSBC Holdings plc Deputy Secretary Irish
Richard Qilliam QUIN 10 Lower Thames Street HSBC Holdings plc
London EC3R 6AE
===========================================================================================================================
HSBC INVESTMENT BANK HOLDINGS PLC
DIRECTORS, OFFICERS AND CONTROLLING PERSONS
<S> <C> <C> <C>
===========================================================================================================================
Business Principal Occupation
Name or Residence Address or Employment Citizenship
- ---------------------------------------------------------------------------------------------------------------------------
Bernard Harry ASHER HSBC Investment Bank plc Chairman British
Thames Exchange HSBC Investment Bank plc
10 Queen Street Place
London EC4R 1BE
- ---------------------------------------------------------------------------------------------------------------------------
Clive Christopher Roger HSBC Investment Bank plc Head of Strategic Planning British
BANNISTER Thames Exchange HSBC Investment Banking
10 Queen Street Place
London EC4R 1BE
- ---------------------------------------------------------------------------------------------------------------------------
Ian Christopher COTTERILL HSBC Investment Bank plc Chief Finance Director British
Thames Exchange HSBC Investment Bank plc
10 Queen Street Place
London EC4R 1BE
- ---------------------------------------------------------------------------------------------------------------------------
Peter Charles DUGDALE HSBC Investment Bank plc IT Director British
Thames Exchange HSBC Investment Banking
10 Queen Street Place
London EC4R 1BE
- ---------------------------------------------------------------------------------------------------------------------------
Douglas Jardine FLINT HSBC Holdings plc Group Finance Director British
10 Lower Thames Street HSBC Holdings plc
London EC3R 6AD
- ---------------------------------------------------------------------------------------------------------------------------
Paul Charles GUIDONE HSBC Asset Management Chief Executive Officer US
Americas, Inc. HSBC Asset Management Americas,
3/F 250 Park Avenue Inc.
New York, NY 10177
- ---------------------------------------------------------------------------------------------------------------------------
Keith Reginald HARRIS HSBC Investment Bank plc Chief Executive British
Vintner's Place Investment Banking
68 Upper Thames Street HSBC Investment Bank plc
London EC4V 3BJ
- ---------------------------------------------------------------------------------------------------------------------------
Peter Anthony LETLEY HSBC Investment Bank plc Deputy Chairman British
Thames Exchange HSBC Investment Bank plc
10 Queen Street Place
London EC4R 1BE
- ---------------------------------------------------------------------------------------------------------------------------
Peter Martin MAYNARD HSBC Holdings plc Deputy Group Legal Adviser British
10 Lower Thames Street HSBC Holdings plc
London EC3R 6AE
- ---------------------------------------------------------------------------------------------------------------------------
Christopher James NEWTON HSBC Investment Bank Asia Director, Finance British
Ltd HSBC Investment Bank Asia Ltd.
Level 15
3 Queen's Road Central
Hong Kong
- ---------------------------------------------------------------------------------------------------------------------------
Paul Edward HSBC Investment Bank plc Deputy Chairman British
SELWAY-SWIFT Thames Exchange HSBC Investment Bank plc
10 Queen Street Place
London EC4R 1BE
- ---------------------------------------------------------------------------------------------------------------------------
Kevin Anthony WESTLEY HSBC Investment Bank Asia Chairman and Chief Executive British
Ltd. HSBC Investment Bank Asia Ltd
GPO Box 8983 Hong Kong
1 Queen's Road Central
Hong Kong
- ---------------------------------------------------------------------------------------------------------------------------
Keith Roderick WHITSON Midland Bank plc Chief Executive British
27/32 Poultry Midland Bank plc
London EC2P 2HX
- ---------------------------------------------------------------------------------------------------------------------------
Company Secretary HSBC Holdings plc Deputy Secretary Irish
Richard William QUIN 10 Lower Thames Street HSBC Holdings plc
London EC3R 6AE
===========================================================================================================================
HSBC HOLDINGS PLC
DIRECTORS, OFFICERS AND CONTROLLING PERSONS
<S> <C> <C> <C>
===========================================================================================================================
Business Principal Occupation
Name or Residence Address or Employment Citizenship
- ---------------------------------------------------------------------------------------------------------------------------
Bernard Harry ASHER HSBC Investment Bank plc Chairman British
Thames Exchange HSBC Investment Bank plc
10 Queen Street Place
London EC4R 1BE
- ---------------------------------------------------------------------------------------------------------------------------
John Reginald Hartnell HSBC Holding plc Group Chief Executive British
BOND 10 Lower Thames Street HSBC Holdings plc
London EC3R 6AE
- ---------------------------------------------------------------------------------------------------------------------------
Denys Eamonn CONNOLLY HSBC Holding plc Non-Executive Director Irish
10 Lower Thames Street
London EC3R 6AE
- ---------------------------------------------------------------------------------------------------------------------------
Baroness Lydia Selina DUNN HSBC Holding plc Director British
10 Lower Thames Street John Swire & Sons (HK) Ltd
London EC3R 6AE
- ---------------------------------------------------------------------------------------------------------------------------
Douglas Jardine FLINT HSBC Holding plc Group Finance Director HSBC British
10 Lower Thames Street Holdings plc
London EC3R 6AE
- ---------------------------------------------------------------------------------------------------------------------------
Sir Joseph Edward HOTUNG HSBC Holding plc Private Investor British
10 Lower Thames Street
London EC3R 6AE
- ---------------------------------------------------------------------------------------------------------------------------
Northrup Rand KNOX HSBC Holding plc Chairman US
10 Lower Thames Street HSBC America, Inc.
London EC3R 6AE
- ---------------------------------------------------------------------------------------------------------------------------
Charles Dorsey MACKAY HSBC Holding plc Non-Executive Director British
10 Lower Thames Street
London EC3R 6AE
- ---------------------------------------------------------------------------------------------------------------------------
Sir Colin Marsh HSBC Holding plc Chairman British
MARSHALL 10 Lower Thames Street British Airways plc
London EC3R 6AE
- ---------------------------------------------------------------------------------------------------------------------------
Charles MILLER-SMITH HSBC Holding plc Chief Executive British
10 Lower Thames Street Imperial Chemical Industries plc
London EC3R 6AE
- ---------------------------------------------------------------------------------------------------------------------------
Minoru MUROFUSHI HSBC Holding plc President/Chief Executive Officer Japanese
10 Lower Thames Street ITOCHU Corporation
London EC3R 6AE
- ---------------------------------------------------------------------------------------------------------------------------
Sir Charles Wilfred HSBC Holding plc Chairman British
NEWTON 10 Lower Thames Street Raglan Properties plc
London EC3R 6AE
- ---------------------------------------------------------------------------------------------------------------------------
Sir William PURVES HSBC Holding plc Group Chairman British
10 Lower Thames Street HSBC Holdings plc
London EC3R 6AE
- ---------------------------------------------------------------------------------------------------------------------------
Carl Edwin REICHARDT HSBC Holding plc Retired Chairman & Chief Executive US
10 Lower Thames Street Officer
London EC3R 6AE Wells Fargo & Company
- ---------------------------------------------------------------------------------------------------------------------------
Dr. Helmut SOHMEN HSBC Holding plc Chairman Austrian
10 Lower Thames Street World-Wide Shipping Group Ltd.
London EC3R 6AE
- ---------------------------------------------------------------------------------------------------------------------------
John Estmond STRICKLAND The Hong Kong and Shanghai Chairman British
Banking Corporation Ltd. The Hong Kong and Shanghai
GPO Box 64 Hong Kong Banking Corporation Ltd.
1 Queen's Road Central
Hong Kong
- ---------------------------------------------------------------------------------------------------------------------------
Sir Adrian Christopher HSBC Holding plc Director British
SWIRE 10 Lower Thames Street HSBC Holdings plc
London EC3R 6AE
- ---------------------------------------------------------------------------------------------------------------------------
Sir Peter Ingram WALTERS HSBC Holding plc Deputy Chairman British
10 Lower Thames Street HSBC Holdings plc
London EC3R 6AE
- ---------------------------------------------------------------------------------------------------------------------------
Keith Roderick WHITSON Midland Bank plc Chief Executive British
27/32 Poultry Midland Bank plc
London EC2P 1BX
- ---------------------------------------------------------------------------------------------------------------------------
Company Secretary HSBC Holding plc Secretary British
Ralph Gordon BARBER 10 Lower Thames Street HSBC Holdings plc
London EC3R 6AE
===========================================================================================================================
LLOYDS DEVELOPMENT CAPITAL LTD
<S> <C> <C> <C>
===========================================================================================================================
Business Principal Occupation
Name or Residence Address or Employment Citizenship
- ---------------------------------------------------------------------------------------------------------------------------
Michael JOSEPH Lloyds Development Capital Managing Director British
Ltd
50 Grosvenor Street
London W1X 9FH
- ---------------------------------------------------------------------------------------------------------------------------
Clive JOHN Lloyds Development Capital Director British
Ltd
50 Grosvenor Street
London W1X 9FH
- ---------------------------------------------------------------------------------------------------------------------------
Keith CARPENTER Lloyds Development Capital Director British
Ltd
50 Grosvenor Street
London W1X 9FH
- ---------------------------------------------------------------------------------------------------------------------------
Patrick SELLERS Lloyds Development Capital Director British
Ltd
50 Grosvenor Street
London W1X 9FH
- ---------------------------------------------------------------------------------------------------------------------------
Stuart VEALE Lloyds Development Capital Director British
Ltd
50 Grosvenor Street
London W1X 9FH
- ---------------------------------------------------------------------------------------------------------------------------
Darryl EALES Lloyds Development Capital Director British
Ltd
50 Grosvenor Street
London W1X 9FH
- ---------------------------------------------------------------------------------------------------------------------------
John DILLON Lloyds Development Capital Director British
Ltd
50 Grosvenor Street
London W1X 9FH
- ---------------------------------------------------------------------------------------------------------------------------
Nick BACON Lloyds Development Capital Director British
Ltd
50 Grosvenor Street
London W1X 9FH
- ---------------------------------------------------------------------------------------------------------------------------
Stuart RHODES Lloyds Development Capital Director British
Ltd
50 Grosvenor Street
London W1X 9FH
===========================================================================================================================
MSS NOMINEES LIMITED
DIRECTORS AND OFFICERS
<S> <C> <C> <C>
============================================================================================================================
Business Principal Occupation
Name or Residence Address or Employment Citizenship
- ----------------------------------------------------------------------------------------------------------------------------
Stephen Charles Mariner House Director British
CROCKFORD Pepys Street MSS Nominees Limited
London EC3N 4DA
- ----------------------------------------------------------------------------------------------------------------------------
Kevin James DAVIES Mariner House Director British
Pepys Street MSS Nominees Limited
London EC3N 4DA
- ----------------------------------------------------------------------------------------------------------------------------
Bryan Frank ELLIOTT Mariner House Director British
Pepys Street MSS Nominees Limited
London EC3N 4DA
- ----------------------------------------------------------------------------------------------------------------------------
Alan Roy HAWKINS Mariner House Director British
Pepys Street MSS Nominees Limited
London EC3N 4DA
- ----------------------------------------------------------------------------------------------------------------------------
Mrs Sheryl MUNIZ Mariner House Director British
Pepys Street MSS Nominees Limited
London EC3N 4DA
- ----------------------------------------------------------------------------------------------------------------------------
Kevin O'CONNOR Mariner House Director British
Pepys Street MSS Nominees Limited
London EC3N 4DA
- ----------------------------------------------------------------------------------------------------------------------------
Donald Thomas SMITH Mariner House Director British
Pepys Street MSS Nominees Limited
London EC3N 4DA
- ----------------------------------------------------------------------------------------------------------------------------
Company Secretary 10 Lower Thames Street Assistant Secretary British
Shaun Kevin BRYANT London EC3R 6AE HSBC Holdings plc
============================================================================================================================
GENERAL ACCIDENT EXECUTOR AND TRUSTEE COMPANY LIMITED
DIRECTORS AND OFFICERS
<S> <C> <C> <C>
==========================================================================================================================
Business Principal Occupation
Name or Residence Address or Employment Citizenship
- --------------------------------------------------------------------------------------------------------------------------
R. A. SCOTT General Accident plc Director British
Pitheavlis
Perth
PH2 ONH
Scotland
- --------------------------------------------------------------------------------------------------------------------------
R. EVANS General Accident plc Director New Zealand
Pitheavlis
Perth
PH2 ONH
Scotland
- --------------------------------------------------------------------------------------------------------------------------
R. A. WHITAKER General Accident plc Director British
Pitheavlis
Perth
PH2 ONH
Scotland
==========================================================================================================================
DIRECTORS AND EXECUTIVE OFFICERS OF
HSBC EQUITY LTD
<S> <C> <C> <C>
===========================================================================================================================
Business Principal Occupation
Name or Residence Address or Employment Citizenship
- ---------------------------------------------------------------------------------------------------------------------------
Ian McClure FORREST Vintner's Place Managing Director British
68 Upper Thames Street HSBC Private Equity Europe Ltd
London EC4V 3BJ
- ---------------------------------------------------------------------------------------------------------------------------
Roger Anthony Frederick Vintner's Place Director British
HEATH 68 Upper Thames Street HSBC Private Equity Europe Ltd
London EC4V 3BJ
- ---------------------------------------------------------------------------------------------------------------------------
Vincent Gerald O'BRIEN Vintner's Place Finance Director British
68 Upper Thames Street HSBC Private Equity Europe Ltd
London EC4V 3BJ
- ---------------------------------------------------------------------------------------------------------------------------
Company Secretary Vintner's Place Company Secretary British
George Royal Francis 68 Upper Thames Street HSBC Private Equity Europe Ltd
HEARNE London EC4V 3BJ
===========================================================================================================================
DIRECTORS AND EXECUTIVE OFFICERS OF
HSBC PRIVATE EQUITY EUROPE LTD
<S> <C> <C> <C>
===========================================================================================================================
Business Principal Occupation
Name or Residence Address or Employment Citizenship
- ---------------------------------------------------------------------------------------------------------------------------
Richard Andrew CONNELL Vintner's Place Director British
68 Upper Thames Street HSBC Private Equity Europe Ltd
London EC4V 3BJ
- ---------------------------------------------------------------------------------------------------------------------------
Ian Christopher COTTERILL Thames Exchange Finance Director British
10 Queen Street Place HSBC Investment Bank plc
London EC4R 1BL
- ---------------------------------------------------------------------------------------------------------------------------
Ian McClure FORREST Vintner's Place Managing Director British
68 Upper Thames Street HSBC Private Equity Europe Ltd
London EC4V 3BJ
- ---------------------------------------------------------------------------------------------------------------------------
Sir Archibald William "Grasmere" (Non-Executive Director) British
FORSTER Easton Director
Nr. Winchester Midland Bank Plc
Hampshire S021 1EG
- ---------------------------------------------------------------------------------------------------------------------------
Philip Walter GOODWIN 56 Spring Gardens Director British
Manchester M60 2RX HSBC Private Equity Europe Ltd
- ---------------------------------------------------------------------------------------------------------------------------
Keith Reginald HARRIS Vintner's Place Chief Executive British
68 Upper Thames Street Investment Banking
London EC4V 3BJ HSBC Investment Bank plc
- ---------------------------------------------------------------------------------------------------------------------------
Roger Anthony Frederick Vintner's Place Director British
HEATH 68 Upper Thames Street HSBC Private Equity Europe Ltd
London EC4V 3BJ
- ---------------------------------------------------------------------------------------------------------------------------
Christopher Mary Vintner's Place Director British
MASTERSON 68 Upper Thames Street HSBC Private Equity Europe Ltd
London EC4V 3BJ
- ---------------------------------------------------------------------------------------------------------------------------
Vincent Gerald O'BRIEN Vintner's Place Finance Director British
68 Upper Thames Street HSBC Private Equity Europe Ltd
London EC4V 3BJ
- ---------------------------------------------------------------------------------------------------------------------------
David Francis Joseph 10th Floor (Non-Executive Director) British
PATERSON Citibank Tower Managing Director
3 Garden Road HSBC Private Equity Management
GPO Box 426 Ltd
Hong Kong
- ---------------------------------------------------------------------------------------------------------------------------
Alexander Gabriel SHINDER Vintner's Place Director British
68 Upper Thames Street HSBC Private Equity Europe Ltd
London EC4V 3BJ
- ---------------------------------------------------------------------------------------------------------------------------
Company Secretary Vintner's Place Company Secretary British
George Royal Francis 68 Upper Thames Street HSBC Private Equity Europe Ltd
HEARNE London EC4V 3BJ
===========================================================================================================================
</TABLE>
EXHIBIT 1
JOINT FILING AGREEMENT
Each of the undersigned (hereinafter collectively
referred to as the "Reporting Persons") hereby agrees to
file jointly a Schedule 13D and any amendments thereto
relating to the Common Stock, par value $0.01 per share, of
Quintiles Transnational Corp., a North Carolina corporation,
as permitted by Rule 13d-1 of the Securities Exchange Act of
1934, as amended. Each of the Reporting Persons agrees that
the information set forth in such Schedule 13D any
amendments thereto with respect to such person will be true,
complete and correct as of the date of such Schedule 13D or
such amendment to the best of such Reporting Person's
knowledge and belief after reasonable inquiry. Each of the
Reporting Persons makes no representation as to the accuracy
or adequacy of the information set forth in such Schedule
13D and any amendments thereto with respect to any other
Reporting Person. Each of the reporting Persons shall
promptly notify the other Reporting Persons is any of the
information set forth in such Schedule 13D shall be or
become inaccurate in any material respect or if he or it
learns of information which would require an amendment to
such Schedule 13D.
IN WITNESS WHEREOF, the parties hereto have set
forth their hand as of the 6th day of December, 1996.
HSBC Private Equity
Investments Limited
By: /s/ Vincent G. O'Brien
Title: Finance Director
HSBC Equity Limited
By: /s/ Vincent G. O'Brien
Title: Finance Director
HSBC Private Equity Europe
Limited
By: /s/ Vincent G. O'Brien
Title: Finance Director
HSBC Investment Bank Plc
By: /s/ Richard W. Quinn
Title: Company Secretary
HSBC Investment Bank Holdings
Plc
By: /s/ Richard W. Quinn
Title: Company Secretary
HSBC Holdings Plc
By: /s/ Ralph G. Barber
Title: Company Secretary
Lloyds Development Capital
Limited
By: /s/ Patrick Sellers
Title: Director
MSS Nominees Limited
By: /s/ Shawn Bryant
Title: Company Secretary
General Accident Executor
and Trustee Company Limited
By: /s/ R.A. Whitaker
Title: Group Secretary
EXHIBIT 2
ORDERLY MARKETING AGREEMENT
by and among
THE SHAREHOLDERS LISTED IN ANNEX A HERETO
______________________________
Dated as of November 29, 1996
______________________________
TABLE OF CONTENTS
Page
Section 1. Definitions, Inconsistent Agreements. . . 2
Section 2. Initial Secondary Offering. . . . . . . . 3
2.1 Allocation of Shares of Common Stock. . . 3
2.2 Priority . . . . . . . . . . . . . . . . . 4
Section 3. Control by HSBC . . . . . . . . . . . . . 4
3.1 Determination of the Terms . . . . . . . . 4
3.2 Meetings with Quintiles . . . . . . . . . 5
Section 4. Shelf Registration. . . . . . . . . . . . 5
4.1 Allocation. . . . . . . . . . . . . . . . 5
Section 5. Demand Rights and Piggyback Rights. . . . 6
5.1 Internal Priority Period. . . . . . . . . 6
5.2 Allocation. . . . . . . . . . . . . . . . 7
Section 6. Miscellaneous. . . . . . . . . . . . . . . 7
6.1 Governing Law. . . . . . . . . . . . . . . 7
6.2 Jurisdiction. . . . . . . . . . . . . . . 8
6.3 Remedies . . . . . . . . . . . . . . . . . 8
ANNEX A
ANNEX B
ORDERLY MARKETING AGREEMENT
This Orderly Marketing Agreement (this
"Agreement") is dated as of November 29, 1996, and is being
entered into by and among the persons listed in Annex A
hereto, each of which is sometimes referred to herein
individually as a "Holder" and collectively as the
"Holders." The entities listed in Annex A(1), including
HSBC Private Equity Europe Limited ("HSBC"), shall be
collectively referred to as the "HSBC Group", the persons
listed in Annex A(2), including Barrie S. Haigh, shall be
collectively referred to as the "Haigh Group" and the
persons listed in Annex A(3) shall be collectively referred
to as the "Management Group."
RECITALS
WHEREAS, the Board of Directors of Quintiles
Transnational Corp., a North Carolina corporation
("Quintiles"), and Innovex Limited, a limited company
organized under the laws of England and Wales ("Innovex"),
have determined that it is in the best interests of their
respective companies and shareholders to combine their
businesses (the "Combination"); and
WHEREAS, Quintiles, Innovex and the Holders have
entered into a Share Exchange Agreement, dated as of
October 4, 1996 (the "Exchange Agreement") by and among
Quintiles, Innovex and the Shareholders of Innovex, pursuant
to which Quintiles, Innovex and the Holders have agreed to
exchange all of their issued and outstanding share capital
of Innovex for shares of Common Stock, par value $0.01 per
share, of Quintiles; and
WHEREAS, Quintiles and the Holders have entered
into a Registration Rights Agreement, dated the date hereof
(the "Registration Rights Agreement"), pursuant to which the
parties thereto have made certain covenants and agreements
concerning, among other things, the registration of the
shares of Common Stock of Quintiles under the Securities Act
of 1933, as amended; and
WHEREAS, the parties hereto wish to make certain
additional covenants and agreements including, among other
things, the assignment pursuant to Section 11(i) of the
Registration Rights Agreement of certain rights and
obligations under the Registration Rights Agreement;
NOW, THEREFORE, in consideration of the premises
and of the mutual covenants, representations, warranties and
agreements contained herein, the parties hereto agree as
follows:
SECTION 1. DEFINITIONS; INCONSISTENT AGREEMENTS.
(a) Capitalized terms used in this Agreement
shall, unless otherwise specified herein, have the meanings
assigned to them in the Registration Rights Agreement.
(b) For the avoidance of doubt, the parties agree
that (i) they will not enter into any agreements or
arrangements providing for rights that are inconsistent with
the rights and obligations set forth herein, and if any such
agreements or arrangements are entered into, the terms of
this Agreement shall control, and (ii) any references in the
Registration Rights Agreement to the allocation of rights
among the Holders on a "pro rata basis" as are inconsistent
with the allocations set forth in this Agreement shall be
superseded as among the parties hereto by the terms of this
Agreement.
SECTION 2. INITIAL SECONDARY OFFERING.
2.1 Allocation of Shares of Common Stock. In
connection with the offer and sale of Common Stock by the
Holders in the Initial Secondary Offering, the ratio of
shares of Common Stock to be offered and sold by each Holder
(or classes of Holder) shall be as indicated in Annex B;
provided, however, that in the event that the Maximum Number
is less than 4 million but greater than 2 million and the
number of shares of Common Stock to be sold by the Holders
is reduced pursuant to Section 2.1(b) of the Registration
Rights Agreement, the shares of Common Stock to be sold by
the Holders designated as the Management Group in Annex A(3)
will be 270,000 shares and the balance of such shares to be
sold by the Holders shall be offered in such ratio that the
shares of Common Stock to be sold by the HSBC Group
constitute 83 1/3% and those sold by the Haigh Group
constitute 16 2/3% of such balance of shares.
2.2 Priority. If (a) the size of the Initial
Secondary Offering contemplated by Section 2.1 of the
Registration Rights Agreement is increased such that more
than an aggregate of 4 million shares of Common Stock is
offered and sold pursuant thereto, (b) the number of shares
of Common Stock offered by Quintiles or its shareholders
(other than the Holders) in the Initial Secondary Offering
is reduced, or (c) additional shares of Common Stock are
included pursuant to an overallotment option, the effect of
which in any such case is to increase the number of shares
of Common Stock to be offered by the Holders in the Initial
Secondary Offering, then the additional shares of Common
Stock to be sold by the Holders shall be shares of Common
Stock held by the HSBC Group as may be agreed by members of
the HSBC Group, to the extent of their respective
shareholdings.
SECTION 3. CONTROL BY HSBC.
3.1 Determination of the Terms. To the extent
that it is within the control of Holders pursuant to the
Registration Rights Agreement, in connection with the
Initial Secondary Offering and any other offerings during
the Internal Priority Period (as defined below), the HSBC
Group shall have the right to determine the parameters of
the desired offerings, including, without limitation,
minimum price, maximum underwriter's commission and plan of
distribution, and shall have the power to determine whether
or not to consummate the offering upon the advice it
receives from the managing underwriter to the offering.
3.2 Meetings with Quintiles. A representative
from the HSBC Group shall be entitled to attend meetings to
be held between Quintiles and the Holders pursuant to
Section 2.6(m) of the Registration Rights Agreement.
SECTION 4. SHELF REGISTRATION.
4.1 Allocation. The shares of Common Stock to be
sold pursuant to any Shelf Registration will be allocated as
follows:
(a) During the Internal Priority Period (as
defined in Section 5.1 below), all shares will be sold by
the HSBC Group.
(b) Following the end of the Internal Priority
Period, the shares available to be sold will be allocated in
the following proportions: 50% to the HSBC Group on the one
hand and 50% to the Haigh Group and the Management Group on
the other hand; provided that if at any time following the
end of the Internal Priority Period, Barrie S. Haigh shall
no longer be a director, executive officer, employee or
consultant of or to Quintiles, the shares available to be
sold will be allocated to the Haigh Group in priority to the
HSBC Group and the Management Group up to 85% of the Haigh
Group's shares; provided that any shares to be sold by the
HSBC Group and the Management Group shall be allocated in
the following proportions: 88.2% to the HSBC Group and
11.8% to the Management Group.
(c)(i) Notwithstanding the provisions set forth
in paragraphs (a) and (b) above, in the event that any
Holders elect not to sell some or all of the shares which
they would otherwise be entitled to sell pursuant to the
preceding two paragraphs, the number of shares not offered
and sold by any such Holder may be offered and sold by the
Holders who so elect to sell. The Holders agree to hold
periodic meetings with one another to discuss their
respective plans for selling Registrable Securities.
(ii) In the event that any Holder offers and
sells shares allocated to them pursuant to the preceding
clause (i) that exceed the shares otherwise allocated to
such Holder pursuant to paragraghs (a) and (b) above, such
number of shares so sold shall be available to be sold by
the other Holder or Holders in subsequent periods prior to
any allocation provided for in the preceding paragraphs (a)
and (b).
SECTION 5. DEMAND RIGHTS AND PIGGYBACK RIGHTS.
5.1 Internal Priority Period. For the duration
of the Internal Priority Period (defined below), the demand
rights provided to the Holders pursuant to Section 2 of the
Registration Rights Agreement may be exercised only by the
HSBC Group. For purposes of this Agreement, the term
"Internal Priority Period" means the period ending at the
time the HSBC Group collectively shall have disposed of 75%
of the shares of Common Stock collectively received by them
in connection with the Combination.
5.2 Allocation. The following provisions shall
govern the allocation among Holders of the registration
rights provided by the Registration Rights Agreement.
Registrations made pursuant to Sections 2.3, 2.4 and 2.5 of
the Registration Rights Agreement (or any other agreement or
arrangement) during the Internal Priority Period shall be
allocated among the Holders in proportion to the number of
shares of Common Stock set forth opposite each Holder's name
in Annex B. After the end of the Internal Priority Period
piggyback registrations made pursuant to Sections 2.4 and
2.5 of the Registration Rights Agreement shall be allocated
among the Holders such that up to 66 2/3% of the shares of
Common Stock registered are shares owned by the Haigh Group
and/or the Management Group and at least 33 1/3% of the
shares of Common Stock so registered are shares owned by the
HSBC Group.
SECTION 6. MISCELLANEOUS.
6.1 GOVERNING LAW. THIS AGREEMENT SHALL BE
GOVERNED AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF NEW YORK, USA, WITHOUT REGARD TO PRINCIPLES OF
CONFLICTS OF LAWS.
6.2 Jurisdiction. Any suit, action or proceeding
seeking to enforce any provision of, or based on any matter
arising out of or in connection with, this Agreement or the
transactions contemplated hereby shall be brought only in
the United Stated District Court for the Southern District
of New York or any New York State court sitting in New York
City, and each of the parties hereby consents to the
jurisdiction of such courts (and of the appropriate
appellate courts therefrom) in any such suit, action or
proceeding and irrevocably waives, to the fullest extent
permitted by law, any objection which it may now or
hereafter have to the laying of the venue of any such suit,
action or proceeding in any such court or that any such
suit, action or proceeding which is brought in any such
court has been brought in an inconvenient forum. Process in
any such suit, action or proceeding may be served on any
party anywhere in the world, whether within or without the
jurisdiction of any such court. Without limiting the
foregoing, each party agrees that service of process on such
party as provided in this Section 6.2 shall be deemed
effective service of process on such party.
6.3 Remedies. In the event of breach by any
party of any of its obligations under this Agreement, each
other party, in addition to being entitled to exercise all
rights provided herein or granted by law, including recovery
of damages, will be entitled to specific performance of its
rights under this Agreement. Each of the parties agrees
that monetary damages would not be adequate compensation for
any loss incurred by reason of a breach by it of any of the
provisions of this Agreement and hereby further agrees that,
in the event of any action for specific performance in
respect of such breach, it shall waive the defense that a
remedy at law would be adequate. No failure or delay on the
part of any party in exercising any right, power or remedy
hereunder shall operate as a waiver thereof; nor shall any
single or partial exercise of any such right, power or
remedy preclude any other or further exercise thereof or the
exercise of any other right, power or remedy.
IN WITNESS WHEREOF, the parties have executed this
Agreement as of the date first written above.
/s/Barrie S. Haigh
Barrie S. Haigh
/s/Stella D. Freeman
Stella D. Freeman
TRUSTEES OF THE BARRIE S. HAIGH
CHILDREN'S SETTLEMENT NO. 1
By: /s/Barrie S. Haigh
Name:
Title:
TRUSTEES OF THE BARRIE S. HAIGH
CHILDREN'S SETTLEMENT NO. 2
By: /s/Barrie S. Haigh
Title:
HSBC PRIVATE EQUITY INVESTMENTS LIMITED
By: /s/ C. Masterson
Name:
Title:
LLOYDS DEVELOPMENT CAPITAL LIMITED
By: /s/C. Masterson
Name:
Title:
MSS NOMINEES LIMITED
(ACCOUNT 758170)
By: /s/C. Masterson
Name:
Title:
MSS NOMINEES LIMITED
(ACCOUNT 758979)
By: /s/C. Masterson
Name:
Title:
MSS NOMINEES LIMITED
(ACCOUNT 757549)
By: /s/C. Masterson
Name:
Title:
MSS NOMINEES LIMITED
(ACCOUNT 778392)
By: /s/C. Masterson
Name:
Title:
GENERAL ACCIDENT EXECUTOR AND
TRUSTEE COMPANY LIMITED (ACCOUNT H715)
By: /s/C. Masterson
Name:
Title:
GENERAL ACCIDENT EXECUTOR AND
TRUSTEE COMPANY LIMITED (ACCOUNT H716)
By: /s/C. Masterson
Name:
Title:
/s/Paul Knott
Peter A. Forrester
/s/Paul Knott
Graham Wilson
/s/Paul Knott
David F. White
/s/Paul Knott
David M. Fleet
/s/Paul Knott
David D. Lilley
/s/Paul Knott
Jonathan K. Bolter
/s/Paul Knott
John V. Burke
/s/Paul Knott
David M. Stack
/s/Paul Knott
Nicholas J. McCooke
/s/Paul Knott
William I. Glynn-Williams
TRUSTEES OF THE No. 1 TRUST CREATED
BY PAUL KNOTT AND DATED OCTOBER 4, 1996
By: /s/Paul Knott
Name:
Title:
TRUSTEES OF THE No. 2 TRUST CREATED
BY PAUL KNOTT AND DATED OCTOBER 4, 1996
By:
/s/Paul Knott
Name:
Title:
TRUSTEES OF THE No. 1 TRUST CREATED
BY NICHOLAS JOHN MCCOOKE AND DATED
OCTOBER 4, 1996
By:
/s/Paul Knott
Name:
Title:
TRUSTEES OF THE No. 2 TRUST CREATED
BY NICHOLAS JOHN MCCOOKE AND DATED
OCTOBER 4, 1996
By:
/s/Paul Knott
Name:
Title:
TRUSTEES OF THE TRUST CREATED BY
JONATHAN KENNETH BOLTER AND DATED
OCTOBER 4, 1996
By:
/s/Paul Knott
Name:
Title:
TRUSTEES OF THE TRUST CREATED BY
GRAHAM WILSON AND DATED OCTOBER 4, 1996
By:
/s/Paul Knott
Name:
Title:
TRUSTEES OF THE TRUST CREATED BY
DAVID WHITE AND DATED OCTOBER 4,
1996
By:
/s/Paul Knott
Name:
Title:
TRUSTEES OF THE TRUST CREATED BY
CHRISTOPHER S. MORLEY AND DATED
OCTOBER 4, 1996
By:
/s/Paul Knott
Name:
Title:
ANNEX A
Identity of Holders
Name Address
(1) HSBC Group
HSBC Private Equity c/o HSBC Private Equity
Investments Limited Europe Ltd.
Vintner's Place
68 Upper Thames Street
London EC4V 3BJ
England
Lloyds Development 48 Chiswell Street
Capital Limited London EC1Y 4XX
England
MSS Nominees Limited Midland Securities
(Account 758170) Services Client Delivery
Midland Bank plc
Mariner House
Pepys Street
London EC3N 4DA
England
MSS Nominees Limited Midland Securities
(Account 758979) Services Client Delivery
Midland Bank plc
Mariner House
Pepys Street
London EC3N 4DA
England
MSS Nominees Limited Midland Securities
(Account 757549) Services Client Delivery
Midland Bank plc
Mariner House
Pepys Street
London EC3N 4DA
England
MSS Nominees Limited Midland Securities
(Account 778392) Services Client Delivery
Midland Bank plc
Mariner House
Pepys Street
London EC3N 4DA
England
General Accident Ibex House
Executor and Trustee 42/47 Minories
Company Limited London EC1N 1BX
(Account H716) England
General Accident Ibex House
Executor and Trustee 42/47 Minories
Company Limited London EC1N 1BX
(Account H715) England
The Venture Catalysts c/o HSBC Private Equity
Ltd. Europe Ltd.
Vintner's Place
68 Upper Thames Street
London, EC4V 3BJ
England
[?] c/o HSBC Private Equity
Europe Ltd.
Vintner's Place
68 Upper Thames Street
London, EC4V 3BJ
England
(2) Haigh Group
Barrie Stevens Haigh Chimneys
Winter Hill
Cookham Dean
Berks SL6 9TN
Stella Freeman Chimneys
Winter Hill
Cookham Dean
Berks SL6 9TN
Trustees of the Barrie Chimneys
Haigh Children's Winter Hill
Settlement No. 1 Cookham Dean
Berks SL6 9TN
Trustees of the Barrie Chimneys
Haigh Children's Winter Hill
Settlement No. 2 Cookham Dean
Berks SL6 9TN
(3) Management Group
Peter Alan Forrester Dean House
Cookham Dean
Berkshire SL6 9NZ
Graham Wilson 5 Hampshire Way
Wokingham RG41 3AX
David Findlay White Little Barlows
Frieth
Henley on Thames
Oxon RG9 6PR
David Martin Fleet 33 Bluebell Meadows
Winnersh
Wokingham
Berkshire
David Dawson Lilley The Old Barn
Harpsden
Henley on Thames
Oxon RG6 4JG
Jonathan Kenneth Bolter Hazel Cottage
39 Mill Lane
Yately
Surrey GU17 7TN
John V. Burke Silver Copse
48 Linksway
Northwood
Middlesex MA6 2XB
David Stack 1 Robin Drive
Oak Ridge
NJ 07438
USA
Nicholas John McCooke 35 Stilehall Gardens
Chiswick
London W4 3BS
William J. Glynn- Fleet View
Williams The Pound
Cookham Village
Berkshire SL6 9QD
Paul Knott and Kathryn The Gables
Mary Knott Elvendon Road
Goring on Thames
Oxon RG8 0DT
Paul Knott and Kathryn The Gables
Mary Knott Elvendon Road
Goring on Thames
Oxon RG8 0DT
Nicholas J. McCooke and 35 Stilehall Gardens
Susan McCooke Chiswick
London W4 3BS
Nicholas J. McCooke and 35 Stilehall Gardens
Susan McCooke Chiswick
London W4 3BS
Jonathan K. Bolter and Hazel Cottage
Mrs. Sally Ann Bolter 39 Mill Lane
Yately
Surrey GU17 7TN
Graham Wilson and Mary 5 Hampshire Way
Anne Balfour Wilson Wokingham
RG41 3AX
David White and Irene Little Barlows
White Frieth
Henley on Thames
Oxon RG9 6PR
Christopher S. Morley 9 Cherrytree Close
and Mrs. Elaine Morley Hughenden Valley
Buckinghamshire
HP14 4LP
ANNEX B
Initial Secondary Offering: Allocation
Number of shares of
Common Stock to be offered
and sold in the Initial
Name Secondary Offering
HSBC Group 2,025,000 (75%)
Haigh Group 405,000 (15%)
Management Group 270,000 (10%)
