Form 8.5 (EPT/NON-RI) BELLWAY PLC

FORM 8.5 (EPT/NON-RI)

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY AN

EXEMPT PRINCIPAL TRADER WITHOUT RECOGNISED INTERMEDIARY ("RI") STATUS

(OR WHERE RI STATUS IS NOT APPLICABLE)

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

1.

KEY INFORMATION

(a)

Name of exempt principal trader:

BARCLAYS CAPITAL SECURITIES LTD

(b)

Name of offeror/offeree in relation to whose relevant securities this form relates:

BELLWAY PLC

(c)

Name of the party to the offer with which exempt principal trader is connected

 CREST NICHOLSON HOLDINGS PLC

(d)

Date position held/dealing undertaken:

25 Jul 2024

(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?

YES: CREST NICHOLSON HOLDINGS PLC

2.

POSITIONS OF THE EXEMPT PRINCIPAL TRADER

(a)

Interests and short positions in the relevant securities of the offeror or offeree

to which the disclosure relates following the dealing (if any)

Class of relevant security:

12.5p ordinary

Interests

Short Positions

Number

(%)

Number

(%)

(1) Relevant securities owned and/or controlled:

1,032,396

0.87%

196,536

0.17%

(2) Cash-settled derivatives:

144,746

0.12%

961,794

0.81%

(3) Stock-settled derivatives (including options) and agreements to purchase/sell: 

0

0.00%

0

0.00%

TOTAL: 

1,177,142

0.99%

1,158,330

0.97%

(b)

Rights to subscribe for new securities (including directors and other executive options)

Class of relevant security in relation to which subscription right exists

Details, including nature of the rights concerned and relevant percentages:

3.

DEALINGS (IF ANY) BY THE EXEMPT PRINCIPAL TRADER

(a)

Purchase and sales

Class of relevant security

Purchase/sale

Total number of securities

Highest price per unit paid/received

Lowest price per unit paid/received

12.5p ordinary

Purchase

34219

27.5614 GBP

26.7000 GBP

12.5p ordinary

Sale

26706

27.5600 GBP

26.7271 GBP

(b)

Cash-settled derivative transactions

Class of relevant security

Product description

Nature of dealing

Number of reference securities

Price per unit

12.5p ordinary

CFD

Decreasing Short

1,116

26.7271 GBP

12.5p ordinary

CFD

Decreasing Short

41

27.3648 GBP

12.5p ordinary

CFD

Decreasing Short

1,745

27.5600 GBP

12.5p ordinary

CFD

Increasing Short

1,367

26.7872 GBP

12.5p ordinary

CFD

Increasing Short

394

27.4451 GBP

12.5p ordinary

CFD

Increasing Short

2,861

27.5614 GBP

12.5p ordinary

SWAP

Decreasing Short

13

26.7197 GBP

12.5p ordinary

SWAP

Increasing Short

76

26.9252 GBP

12.5p ordinary

SWAP

Increasing Short

9

27.3111 GBP

12.5p ordinary

SWAP

Increasing Short

979

27.5613 GBP

12.5p ordinary

SWAP

Opening Long

1,381

27.1592 GBP

12.5p ordinary

SWAP

Opening Short

5,596

27.0097 GBP

12.5p ordinary

SWAP

Increasing Short

650

27.2976 GBP

12.5p ordinary

SWAP

Increasing Short

731

27.5600 GBP

12.5p ordinary

SWAP

Increasing Long

2,494

27.5558 GBP

12.5p ordinary

SWAP

Decreasing Short

18

26.7800 GBP

12.5p ordinary

SWAP

Decreasing Short

1,240

27.0832 GBP

12.5p ordinary

SWAP

Decreasing Short

91

27.2400 GBP

12.5p ordinary

SWAP

Decreasing Short

2,143

27.5600 GBP

12.5p ordinary

SWAP

Increasing Short

22

26.9200 GBP

12.5p ordinary

SWAP

Increasing Short

74

27.0529 GBP

12.5p ordinary

SWAP

Increasing Short

1,380

27.1513 GBP

12.5p ordinary

SWAP

Increasing Short

1,066

27.5584 GBP

12.5p ordinary

SWAP

Increasing Long

58

26.8397 GBP

12.5p ordinary

SWAP

Increasing Long

96

27.1697 GBP

12.5p ordinary

SWAP

Increasing Long

275

27.2235 GBP

12.5p ordinary

SWAP

Increasing Long

414

27.5194 GBP

12.5p ordinary

SWAP

Increasing Long

204

27.5397 GBP

12.5p ordinary

SWAP

Decreasing Long

284

26.8660 GBP

12.5p ordinary

SWAP

Decreasing Long

59

26.8965 GBP

12.5p ordinary

SWAP

Decreasing Long

271

27.0736 GBP

12.5p ordinary

SWAP

Decreasing Long

153

27.1002 GBP

12.5p ordinary

SWAP

Decreasing Long

147

27.1955 GBP

12.5p ordinary

SWAP

Decreasing Long

98

27.2504 GBP

12.5p ordinary

SWAP

Decreasing Long

3,778

27.2880 GBP

12.5p ordinary

SWAP

Decreasing Long

775

27.3713 GBP

12.5p ordinary

SWAP

Decreasing Long

160

27.3847 GBP

12.5p ordinary

SWAP

Decreasing Long

827

27.5602 GBP

12.5p ordinary

SWAP

Decreasing Long

395

26.9819 GBP

12.5p ordinary

SWAP

Decreasing Long

902

27.1278 GBP

12.5p ordinary

SWAP

Decreasing Long

28

27.1876 GBP

12.5p ordinary

SWAP

Decreasing Long

841

27.3004 GBP

12.5p ordinary

SWAP

Decreasing Long

419

27.3302 GBP

12.5p ordinary

SWAP

Increasing Long

1,750

27.4566 GBP

12.5p ordinary

SWAP

Increasing Long

150

27.4794 GBP

12.5p ordinary

SWAP

Increasing Long

900

27.5084 GBP

12.5p ordinary

SWAP

Increasing Long

850

27.5158 GBP

12.5p ordinary

SWAP

Increasing Long

682

27.5271 GBP

12.5p ordinary

SWAP

Increasing Long

4,953

27.5594 GBP

12.5p ordinary

SWAP

Increasing Short

1,653

27.2218 GBP

12.5p ordinary

SWAP

Increasing Short

832

27.5600 GBP

12.5p ordinary

SWAP

Increasing Short

1,236

27.3302 GBP

(c)

Stock-settled derivative transactions (including options)

(i)

Writing, selling, purchasing or varying

Class of relevant security

Product description

Writing, purchasing, selling, varying etc

Number of securities to which option relates

Exercise price per unit

Type

Expiry date

Option money paid/ received per unit

(ii)

Exercising

Class of relevant security

Product description

Exercising/ exercised against

Number of securities

Exercise price per unit

(d)

Other dealings (including subscribing for new securities)

Class of relevant security

Nature of Dealings

Details

Price per unit (if applicable)

4.

OTHER INFORMATION

(a)

Indemnity and other dealings 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:

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 of future acquisition or disposal of any relevant securities to which any derivative is referenced:

NONE

(c)

Attachments

Is a Supplemental Form 8 (Open Positions) attached?

NO

Date of disclosure:

26 Jul 2024

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213