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:

24 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:

1,022,764

0.86%

194,417

0.16%

(2) Cash-settled derivatives:

142,293

0.12%

951,892

0.80%

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

0

0.00%

0

0.00%

TOTAL: 

1,165,057

0.98%

1,146,309

0.96%

(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

131701

27.4869 GBP

27.0200 GBP

12.5p ordinary

Sale

102974

27.3900 GBP

27.1400 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

224

27.1391 GBP

12.5p ordinary

CFD

Decreasing Short

491

27.1800 GBP

12.5p ordinary

CFD

Decreasing Short

507

27.2403 GBP

12.5p ordinary

CFD

Decreasing Short

1,062

27.2510 GBP

12.5p ordinary

CFD

Decreasing Short

125

27.2688 GBP

12.5p ordinary

CFD

Increasing Short

237

27.0216 GBP

12.5p ordinary

CFD

Increasing Short

1,553

27.1475 GBP

12.5p ordinary

CFD

Increasing Short

3,440

27.1821 GBP

12.5p ordinary

CFD

Increasing Short

1,783

27.1934 GBP

12.5p ordinary

SWAP

Increasing Short

340

27.2531 GBP

12.5p ordinary

SWAP

Increasing Short

4

27.1825 GBP

12.5p ordinary

SWAP

Increasing Short

2

27.2200 GBP

12.5p ordinary

SWAP

Decreasing Short

2

26.3400 GBP

12.5p ordinary

SWAP

Decreasing Short

125

27.1600 GBP

12.5p ordinary

SWAP

Decreasing Short

1,967

27.1800 GBP

12.5p ordinary

SWAP

Decreasing Short

1,095

27.2867 GBP

12.5p ordinary

SWAP

Decreasing Short

2,939

27.3081 GBP

12.5p ordinary

SWAP

Increasing Short

794

27.1800 GBP

12.5p ordinary

SWAP

Increasing Short

144

27.2000 GBP

12.5p ordinary

SWAP

Increasing Short

7,407

27.2155 GBP

12.5p ordinary

SWAP

Increasing Short

15

27.2400 GBP

12.5p ordinary

SWAP

Increasing Short

59

27.3600 GBP

12.5p ordinary

SWAP

Increasing Long

9

27.1997 GBP

12.5p ordinary

SWAP

Increasing Long

56

27.3510 GBP

12.5p ordinary

SWAP

Increasing Long

30

27.3997 GBP

12.5p ordinary

SWAP

Decreasing Long

10,433

27.1802 GBP

12.5p ordinary

SWAP

Decreasing Long

624

27.1856 GBP

12.5p ordinary

SWAP

Decreasing Long

416

27.2295 GBP

12.5p ordinary

SWAP

Decreasing Long

347

27.2302 GBP

12.5p ordinary

SWAP

Decreasing Long

798

27.2328 GBP

12.5p ordinary

SWAP

Decreasing Long

851

27.2330 GBP

12.5p ordinary

SWAP

Decreasing Long

2,259

27.2708 GBP

12.5p ordinary

SWAP

Decreasing Long

825

27.2789 GBP

12.5p ordinary

SWAP

Decreasing Long

5,331

27.2961 GBP

12.5p ordinary

SWAP

Decreasing Long

1,872

27.3368 GBP

12.5p ordinary

SWAP

Decreasing Long

75

27.1706 GBP

12.5p ordinary

SWAP

Decreasing Long

1,085

27.2204 GBP

12.5p ordinary

SWAP

Decreasing Long

185

27.2207 GBP

12.5p ordinary

SWAP

Decreasing Long

380

27.2379 GBP

12.5p ordinary

SWAP

Decreasing Long

1,054

27.2586 GBP

12.5p ordinary

SWAP

Decreasing Long

154

27.2778 GBP

12.5p ordinary

SWAP

Decreasing Long

184

27.2859 GBP

12.5p ordinary

SWAP

Decreasing Long

774

27.2889 GBP

12.5p ordinary

SWAP

Decreasing Long

191

27.3069 GBP

12.5p ordinary

SWAP

Increasing Long

2,147

27.1794 GBP

12.5p ordinary

SWAP

Increasing Long

1,840

27.1800 GBP

12.5p ordinary

SWAP

Increasing Long

1,658

27.1905 GBP

12.5p ordinary

SWAP

Decreasing Short

785

27.2903 GBP

12.5p ordinary

SWAP

Decreasing Short

1,335

27.3276 GBP

12.5p ordinary

SWAP

Increasing Short

719

27.1800 GBP

12.5p ordinary

SWAP

Increasing Short

109

27.2000 GBP

12.5p ordinary

SWAP

Increasing Short

984

27.2180 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:

25 Jul 2024

Contact name:

Large Holdings Regulatory Operations

Telephone number:

020 3134 7213