9th Mar 2026 13:31
Amendment - due to the amendment of Equity and Derivative transactions, the disclosure made on 02nd March for dealings on 27th February has been updated. Section 2(a) and 2(b) has been updated 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 | BEAZLEY PLC |
(c) Name of the party to the offer with which exempt principal trader is connected: | ZURICH INSURANCE GROUP LTD |
(d) Date dealing undertaken: | 27 February 2026 |
(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" | N/A |
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 |
5p ordinary | Purchases | 2,847,797 | 12.7400 GBP | 12.4500 GBP |
5p ordinary | Sales | 3,518,654 | 12.7600 GBP | 12.4400 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 |
5p ordinary | CFD | Reducing a short position | 60,000 | 12.4369 GBP |
5p ordinary | CFD | Reducing a short position | 54,172 | 12.4464 GBP |
5p ordinary | CFD | Reducing a short position | 547,744 | 12.4464 GBP |
5p ordinary | CFD | Reducing a short position | 67,500 | 12.4485 GBP |
5p ordinary | CFD | Reducing a short position | 682,500 | 12.4485 GBP |
5p ordinary | CFD | Reducing a short position | 70,000 | 12.4513 GBP |
5p ordinary | CFD | Reducing a short position | 672 | 12.4588 GBP |
5p ordinary | CFD | Reducing a short position | 18,882 | 12.4650 GBP |
5p ordinary | CFD | Increasing a short position | 8,089 | 12.4650 GBP |
5p ordinary | CFD | Increasing a short position | 7,344 | 12.4650 GBP |
5p ordinary | CFD | Increasing a short position | 3,449 | 12.4650 GBP |
5p ordinary | CFD | Reducing a short position | 1,875 | 12.4672 GBP |
5p ordinary | CFD | Reducing a short position | 5,000 | 12.4672 GBP |
5p ordinary | CFD | Reducing a short position | 12,500 | 12.4674 GBP |
5p ordinary | CFD | Increasing a short position | 17,293 | 12.4729 GBP |
5p ordinary | CFD | Reducing a short position | 289 | 12.4734 GBP |
5p ordinary | CFD | Reducing a short position | 1,875 | 12.4735 GBP |
5p ordinary | CFD | Reducing a short position | 5,000 | 12.4735 GBP |
5p ordinary | CFD | Reducing a short position | 827 | 12.4888 GBP |
5p ordinary | CFD | Reducing a short position | 1,875 | 12.4917 GBP |
5p ordinary | CFD | Reducing a short position | 5,000 | 12.4917 GBP |
5p ordinary | CFD | Increasing a short position | 23,221 | 12.4975 GBP |
5p ordinary | CFD | Increasing a short position | 70,642 | 12.5137 GBP |
5p ordinary | CFD | Increasing a short position | 108 | 12.5516 GBP |
5p ordinary | CFD | Increasing a short position | 139,612 | 12.5792 GBP |
5p ordinary | CFD | Reducing a short position | 3,506 | 12.5892 GBP |
5p ordinary | CFD | Reducing a long position | 4,423 | 12.6320 GBP |
5p ordinary | CFD | Increasing a short position | 100,000 | 12.6327 GBP |
5p ordinary | CFD | Reducing a short position | 743 | 12.6447 GBP |
5p ordinary | CFD | Reducing a short position | 616 | 12.6478 GBP |
5p ordinary | CFD | Increasing a short position | 20,000 | 12.6496 GBP |
5p ordinary | CFD | Increasing a short position | 14,819 | 12.6510 GBP |
5p ordinary | CFD | Reducing a short position | 2,448 | 12.6527 GBP |
5p ordinary | CFD | Increasing a short position | 83,250 | 12.6606 GBP |
5p ordinary | CFD | Reducing a short position | 1,875 | 12.6625 GBP |
5p ordinary | CFD | Reducing a short position | 5,000 | 12.6625 GBP |
5p ordinary | CFD | Reducing a short position | 301 | 12.6650 GBP |
5p ordinary | CFD | Reducing a short position | 110 | 12.6671 GBP |
5p ordinary | CFD | Reducing a short position | 855 | 12.6671 GBP |
5p ordinary | CFD | Increasing a long position | 867 | 12.6675 GBP |
5p ordinary | CFD | Increasing a long position | 202 | 12.6675 GBP |
5p ordinary | CFD | Reducing a short position | 36,380 | 12.6687 GBP |
5p ordinary | CFD | Reducing a short position | 6,514 | 12.6698 GBP |
5p ordinary | CFD | Reducing a short position | 437,850 | 12.6700 GBP |
5p ordinary | CFD | Increasing a short position | 12,441 | 12.6701 GBP |
5p ordinary | CFD | Increasing a short position | 31,342 | 12.6702 GBP |
5p ordinary | CFD | Opening a short position | 21,506 | 12.6715 GBP |
5p ordinary | CFD | Increasing a short position | 107 | 12.6719 GBP |
5p ordinary | CFD | Increasing a short position | 57 | 12.6722 GBP |
5p ordinary | CFD | Reducing a short position | 7,085 | 12.6741 GBP |
5p ordinary | CFD | Increasing a short position | 38,800 | 12.6758 GBP |
5p ordinary | CFD | Reducing a short position | 2,344 | 12.6801 GBP |
5p ordinary | CFD | Increasing a short position | 923 | 12.6817 GBP |
5p ordinary | CFD | Reducing a short position | 1,146 | 12.6821 GBP |
5p ordinary | CFD | Increasing a short position | 82,500 | 12.6889 GBP |
5p ordinary | CFD | Reducing a short position | 478 | 12.6895 GBP |
5p ordinary | CFD | Reducing a short position | 122 | 12.6925 GBP |
5p ordinary | CFD | Reducing a short position | 757 | 12.6925 GBP |
5p ordinary | CFD | Reducing a short position | 1,875 | 12.6950 GBP |
5p ordinary | CFD | Reducing a short position | 5,000 | 12.6950 GBP |
5p ordinary | CFD | Increasing a short position | 35,830 | 12.7041 GBP |
5p ordinary | CFD | Increasing a short position | 38 | 12.7110 GBP |
5p ordinary | CFD | Reducing a short position | 24,772 | 12.7436 GBP |
5p ordinary | CFD | Reducing a short position | 27,137 | 12.7500 GBP |
5p ordinary | CFD | Opening a short position | 9,742 | 12.7500 GBP |
5p ordinary | CFD | Opening a short position | 8,551 | 12.7500 GBP |
5p ordinary | CFD | Opening a short position | 8,844 | 12.7500 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: | 09 March 2026 |
| Contact name: | Papa Lette and Andrzej Szyszka |
| Telephone number: | +33(1) 4212 1459 / +48(22) 317 4817 |
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.
Related Shares:
Beazley