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:

18 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:

1,027,012

0.86%

220,027

0.18%

(2) Cash-settled derivatives:

170,345

0.14%

959,127

0.81%

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

0

0.00%

0

0.00%

TOTAL: 

1,197,357

1.01%

1,179,154

0.99%

(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

114945

27.5600 GBP

27.1400 GBP

12.5p ordinary

Sale

119071

27.5397 GBP

27.1409 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

72

27.2600 GBP

12.5p ordinary

CFD

Decreasing Short

88

27.2800 GBP

12.5p ordinary

CFD

Decreasing Short

3,621

27.3000 GBP

12.5p ordinary

CFD

Decreasing Short

941

27.4438 GBP

12.5p ordinary

CFD

Increasing Short

232

27.2016 GBP

12.5p ordinary

CFD

Increasing Short

747

27.2468 GBP

12.5p ordinary

CFD

Increasing Short

926

27.3021 GBP

12.5p ordinary

CFD

Increasing Short

1,960

27.3024 GBP

12.5p ordinary

CFD

Increasing Short

5,769

27.5120 GBP

12.5p ordinary

SWAP

Decreasing Short

95

27.2086 GBP

12.5p ordinary

SWAP

Increasing Short

131

27.5459 GBP

12.5p ordinary

SWAP

Decreasing Short

1

27.3000 GBP

12.5p ordinary

SWAP

Increasing Short

8

27.3800 GBP

12.5p ordinary

SWAP

Increasing Long

4,582

27.2041 GBP

12.5p ordinary

SWAP

Increasing Long

268

27.3259 GBP

12.5p ordinary

SWAP

Decreasing Long

1,991

27.3000 GBP

12.5p ordinary

SWAP

Decreasing Long

2,723

27.3818 GBP

12.5p ordinary

SWAP

Decreasing Long

178

27.3041 GBP

12.5p ordinary

SWAP

Decreasing Short

71

27.1200 GBP

12.5p ordinary

SWAP

Decreasing Short

2,405

27.3043 GBP

12.5p ordinary

SWAP

Decreasing Short

18

27.3600 GBP

12.5p ordinary

SWAP

Decreasing Short

5,416

27.3782 GBP

12.5p ordinary

SWAP

Increasing Short

44

27.2400 GBP

12.5p ordinary

SWAP

Increasing Short

43

27.2600 GBP

12.5p ordinary

SWAP

Increasing Short

2,059

27.3000 GBP

12.5p ordinary

SWAP

Increasing Short

2,663

27.3582 GBP

12.5p ordinary

SWAP

Increasing Short

31

27.4000 GBP

12.5p ordinary

SWAP

Increasing Long

3,541

27.2997 GBP

12.5p ordinary

SWAP

Increasing Long

748

27.3101 GBP

12.5p ordinary

SWAP

Increasing Long

2,344

27.3127 GBP

12.5p ordinary

SWAP

Increasing Long

273

27.3534 GBP

12.5p ordinary

SWAP

Increasing Long

2,545

27.3617 GBP

12.5p ordinary

SWAP

Increasing Long

60

27.5397 GBP

12.5p ordinary

SWAP

Decreasing Long

1,665

27.3002 GBP

12.5p ordinary

SWAP

Decreasing Long

330

27.4126 GBP

12.5p ordinary

SWAP

Decreasing Long

19

27.4159 GBP

12.5p ordinary

SWAP

Decreasing Long

163

27.4307 GBP

12.5p ordinary

SWAP

Decreasing Long

1,050

27.4317 GBP

12.5p ordinary

SWAP

Decreasing Long

1,072

27.4331 GBP

12.5p ordinary

SWAP

Decreasing Long

927

27.4344 GBP

12.5p ordinary

SWAP

Decreasing Long

735

27.4484 GBP

12.5p ordinary

SWAP

Decreasing Long

316

27.4521 GBP

12.5p ordinary

SWAP

Decreasing Long

338

27.4797 GBP

12.5p ordinary

SWAP

Opening Long

1,289

27.2988 GBP

12.5p ordinary

SWAP

Increasing Long

317

27.2990 GBP

12.5p ordinary

SWAP

Increasing Long

89

27.3588 GBP

12.5p ordinary

SWAP

Increasing Long

171

27.3690 GBP

12.5p ordinary

SWAP

Increasing Long

83

27.3790 GBP

12.5p ordinary

SWAP

Increasing Long

332

27.3840 GBP

12.5p ordinary

SWAP

Increasing Long

249

27.4325 GBP

12.5p ordinary

SWAP

Increasing Long

498

27.4773 GBP

12.5p ordinary

SWAP

Increasing Long

255

27.5089 GBP

12.5p ordinary

SWAP

Increasing Short

184

27.3165 GBP

12.5p ordinary

SWAP

Increasing Short

18

27.3622 GBP

12.5p ordinary

SWAP

Decreasing Short

3,393

27.3720 GBP

12.5p ordinary

SWAP

Increasing Short

1,258

27.3000 GBP

12.5p ordinary

SWAP

Increasing Short

214

27.3198 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:

19 Jul 2024

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213